A ‘more sustainable and equitable society’: Enbridge releases 20th annual Sustainability Report

Our new Sustainability-Linked Bond Framework further ties our ESG goals to Enbridge’s overall funding strategy

Sustainability has long been part of who we are at Enbridge.

In 2020—with firm commitments, high stakes and a very public announcement—we showed the courage of our convictions.

In November, Enbridge announced ambitious, company-wide sustainability goals in the environmental, social and governance (ESG) arenas, tying compensation to overall performance. We accelerated our work in building society’s bridge to the energy future. And we added inclusion as a core company value, alongside safety, integrity and respect.

It’s all chronicled in our 2020 Sustainability Report released today—the 20^th annual such report in Enbridge history.

“The recent challenges of the global pandemic, the death of George Floyd and the ever-escalating concern about climate change have reinforced what we have always known—corporations have an important role in fostering a more sustainable and equitable society,” writes Enbridge President and CEO Al Monaco in this year’s Sustainability Report.

“For the past two decades, we’ve been committed to integrating sustainability into all that we do,” adds Pete Sheffield, Enbridge’s Chief Sustainability Officer. “However, 2020 was an inflection point for us, with the creation of specific, robust and very public ESG goals, which include a net-zero GHG emissions commitment from our operations by 2050^{1, 2}.

“These goals have not only given us a framework for decision-making—they’ve also helped accelerate internal efforts and clarify for external stakeholders where we’re heading as an organization,” he adds.

In addition to our commitment to net-zero GHG emissions by 2050^{1, 2} and increasing diversity throughout Enbridge’s workforce, today we tied our ESG goals to the company’s overall funding strategy, with the publication of North America’s first Sustainability-Linked Bond Framework for the midstream sector.

Enbridge will issue sustainability-linked bonds under the framework, which includes performance indicators—published and verified annually by an independent auditor for transparency—that measure our progress against those ESG goals, and have the potential to impact Enbridge’s future borrowing costs.

“Today’s announcement further demonstrates Enbridge’s commitment to ESG industry leadership,” says Colin Gruending, Enbridge’s Chief Financial Officer. “Our sustainable financing framework provides transparency to our stakeholders and positions us well to succeed in leading our industry to a more sustainable and inclusive energy future.”

New content in Enbridge’s 2020 Sustainability Report includes metrics that track the emission intensity of the energy we transport, and how our investments in renewable natural gas, hydrogen and renewable electricity are advancing the energy transition.

Read or download our 2020 Sustainability Report here, and view our Sustainability-Linked Bond Framework here.

¹ GHG emissions included within our targets are from assets over which we have operational control (Scope 1 and Scope 2 emissions). Projected reductions of GHG emissions intensity and absolute emissions is relative to the 2018 baseline year. For more information, see our 2023 Sustainability Report.
² Absolute emissions.