2020 Sustainability Report highlights
Company's continued growth in renewable energy projects among key
sustainability achievements
OAKVILLE, ON, Oct. 2, 2020 /PRNewswire/ - Algonquin Power
& Utilities Corp. ("APUC", "Algonquin" or the "Company")
(TSX/NYSE: AQN), the parent company of Liberty Utilities and
Liberty Power, has released its 2020
Sustainability Report, outlining progress towards its ESG goals and
demonstrating its ongoing commitment to delivering mission-critical
services and renewable energy solutions.
Arun Banskota, President &
Chief Executive Officer, noted, "Sustaining energy and water for
life is the shared purpose of Algonquin and all of our businesses.
We are extremely pleased with our ESG progress this year, and to be
in the Top 10 of Corporate Knights' Global 100 Most Sustainable
Corporations in the World. Sustainability is at the core of our
purpose, embedded into our broader corporate strategy and woven
throughout every aspect of our operations."
Algonquin's ambition is to align its corporate resources and
expertise to its ESG impacts and conduct its business responsibly.
The Company is dedicated to promoting sustainability and increasing
access to clean energy and water while cultivating a culture of
compliance, ethics, and transparency.
George Trisic, Chief Governance
Officer and Corporate Secretary said, "Our approach to
sustainability governance is built on a strong foundation of
strategic oversight, accountability, and cross-functional
collaboration. This approach has enabled us to achieve the
milestones published in our 2020 Sustainability Report, such as
meeting 49% of our targeted 75% renewable generation goal;
achieving more than 70% of our one million metric tons GHG
emissions reduction target; and exceeding our goal of having 30%
women in leadership roles."
The report also outlines Algonquin's strategic pillars of
growth, operational excellence, and sustainability leadership. The
pillars support how the Company embeds its ESG plans and
initiatives into its broader corporate strategy and aligns the
strategy with its operations. In 2019-2020, Algonquin selected six
United Nations Sustainable Development Goals (UN SDGs) as the
foundation for the Company's sustainability strategy. The Company
also identified seven priority ESG issues that it believes are most
relevant to its contribution to positive impacts on the planet,
employees, and communities.
About the 2020 Sustainability Reporting Period
The Company's 2020 Sustainability Report focuses on progress and
achievements during the period of January 1,
2019, through December 31,
2019, and also includes data from the years 2017 and 2018
for contextual and comparative purposes. The Company's 2023 Goals
and Performance Scorecard, included in the report, reflects the
performance data as of July 2020 to
indicate the most current status of the Company's 2023 goals.
Algonquin plans to publish its 2020 TCFD (Taskforce on
climate-related financial disclosure) disclosure by year-end.
Please visit www.algonquinpower.com/sustainability to download
the full 2020 Sustainability Report.
About Algonquin Power & Utilities Corp., Liberty
Utilities, Liberty Power
APUC is a diversified international generation, transmission and
distribution utility with approximately U.S. $11 billion of total assets. Through its two
business groups, Liberty Utilities and Liberty Power, APUC is committed to providing
secure, safe, reliable, cost-effective, and sustainable energy and
water solutions through our portfolio of rate-regulated natural
gas, water, and electricity generation, transmission and
distribution utility investments to approximately
807,000 connections in the United
States and Canada. APUC is a global leader in
renewable energy through its portfolio of long-term contracted
wind, solar and hydroelectric generating facilities representing
over 2 GW of installed capacity and more than 1.6 GW of incremental
renewable energy capacity under construction.
APUC is committed to delivering growth and the pursuit of
operational excellence in a sustainable manner through an expanding
global pipeline of renewable energy, electric transmission, and
water infrastructure development projects, organic growth within
its rate-regulated generation, distribution, and transmission
businesses, and the pursuit of accretive acquisitions.
APUC's common shares, Series A preferred shares, and Series D
preferred shares are listed on the Toronto Stock Exchange under the
symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. APUC's common
shares, Series 2018-A subordinated notes and Series 2019-A
subordinated notes are listed on the New York Stock Exchange under
the symbols AQN, AQNA and AQNB, respectively.
Visit APUC at www.algonquinpowerandutilities.com and
follow us on Twitter @AQN_Utilities.
Caution Regarding Forward-Looking Information
Certain written statements included herein constitute
"forward-looking information" within the meaning of applicable
securities laws in each of the provinces of Canada and the respective policies,
regulations and rules under such laws and "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
statements"). The words "will", "expects", "intends", "plans",
"should" and similar expressions are often intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Specific
forward-looking statements contained herein include, but are not
limited to statements regarding the continued growth in renewable
energy projects, ongoing strategy and purpose of the Company;
sustainability strategy, initiatives, targets and goals, including
its strategic pillars and those related to reducing greenhouse gas
emissions, women in leadership and increasing renewable generation;
continued commitment to promoting sustainability and access to
green energy and water; sustainability governance; expected
future positive impacts of our sustainability strategy and ESG
plans and plans to publish 2020 TCFD disclosure by year end. These
statements are based on factors or assumptions that were applied in
drawing a conclusion or making a forecast or projection, including
assumptions based on historical trends, current conditions and
expected future developments. Since forward-looking statements
relate to future events and conditions, by their nature they rely
upon assumptions and involve inherent risks and uncertainties. APUC
cautions that although it is believed that the assumptions are
reasonable in the circumstances, actual results may differ
materially from the expectations set out in the forward-looking
statements. Material risk factors and assumptions include those set
out in APUC's most recent annual and interim Management Discussion
and Analysis and most recent Annual Information Form, filed with
securities regulatory authorities in Canada and the
United States. Given these risks, undue reliance should not
be placed on these forward-looking statements, which apply only as
of their dates. Other than as specifically required by law, APUC
undertakes no obligation to update any forward-looking statements
to reflect new information, subsequent or otherwise.
View original
content:http://www.prnewswire.com/news-releases/algonquin-power--utilities-corp-reports-esg-goal-progress-301144996.html
SOURCE Algonquin Power & Utilities Corp.
