ESG goals: Foundational to Enbridge, notable in sustainability rankings

S&P Global Ratings, Carbon Disclosure Project and Moody’s recognize our performance in 2022

We’ve said it before—ESG is part of our DNA.

Sustainability is central to how we do business at Enbridge, and sustainability ratings agencies continue to notice.

In November 2020, we announced 11 ESG goals, including net-zero greenhouse gas (GHG) emissions by 2050 and, as an interim target, reducing GHG emissions intensity from our operations 35% by 2030.

“We believe that ESG (environmental, social and governance standards) is foundational to our business, and we are proud of our performance,” Vern Yu, Enbridge’s Executive Vice President of Corporate Development and Chief Financial Officer, told an audience of analysts during a quarterly financials call in mid-2022.

“In 2020, we set new ambitious goals across all aspects of E, S, and G with clear pathways to achieving them. In 2021, we put in place the organizational building blocks to make it happen, establishing specific plans across businesses and aligning our compensation and financing costs to ESG performance,” added Mr. Yu. “Our focus now turns to executing those strategies to achieve our goals.”

In recent weeks, agencies again recognized Enbridge as a leader among energy peers, including:

• An improvement in our Corporate Sustainability Assessment (CSA) score from S&P Global Ratings, which provides the basis for inclusion on the North American index of the Dow Jones Sustainability Indices (DJSI)
• First among peers with a grade of A-minus for climate change from the Carbon Disclosure Project (CDP), an international environmental ratings non-profit.
• Improvement on our ESG rating from Moody’s, an independent international provider of ESG research.

“In many ways, when Enbridge announced the company’s ESG goals in 2020, it galvanized our organization’s progression as a company,” says Pete Sheffield, Enbridge’s Vice-President and Chief Sustainability Officer. “Our continued performance and recognized advancement shows the tangible progress we’re making on the ESG goals we set.”