-- Commits to 30 per cent reduction in direct CO2 emissions by 2030 and net-zero by 2050 --
Toronto, Ontario – April 20, 2021: Aecon Group Inc. (TSX: ARE) today released its second annual Sustainability Report, outlining Aecon’s progress and key accomplishments in responsible Environmental, Social and Governance (ESG) practices. The report includes a comprehensive Greenhouse Gas (GHG) inventory of direct emissions from all its operations in 2020, a best-in-class practice and a significant step in the evolution of Aecon’s sustainability program. Aecon also proudly announced that it has set a target to reach net-zero by 2050, with an initial interim target to achieve a 30 per cent reduction in direct CO 2 emissions by 2030 as compared to 2020.
“Aecon is proud to release its second annual Sustainability Report, Building Better Together, demonstrating the momentum of Aecon’s sustainability program and our proven resiliency as we continue to deliver vital infrastructure in Canada and beyond amidst a challenging COVID-19 operating environment,” said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc. “The completion of a comprehensive GHG emissions inventory with direct and measurable targets positions Aecon as an industry leader in this important area – underscoring our commitment to harness innovation, reduce waste, boost efficiency and consistently improve business performance.”
Highlights of the report include advancement in Aecon’s four key priority areas:
- Our People: Aecon completed its first diversity and inclusion census, which will help benchmark ongoing progress in dismantling barriers between talented people of all backgrounds and opportunities enterprise-wide.
- Our Environment: Aecon expanded its GHG emissions inventory to include its construction projects. Completing a comprehensive emissions inventory has enabled us to develop a strategy to reduce direct CO2 emissions by 30 per cent by 2030 as compared to 2020 and to set an aspirational target of net-zero by 2050 (indirect and direct CO2 emissions).
- Our Communities: Aecon expanded its procurement program for Indigenous-owned businesses, increased Indigenous engagement accountability, augmented its corporate philanthropy program and advanced multiple innovative community joint ventures and partnerships. Aecon is proud to be a partner of the Inclusive Local Economic Opportunity (ILEO) initiative – a pilot project with the United Way Greater Toronto to catalyze local economic development opportunities in the Golden Mile area of Scarborough, Ontario.
- Our Governance and Ethics: Aecon expanded its anti-bribery and anti-corruption training and certification programs, introduced new tools for anonymous reporting of ethics concerns, and fortified its sustainability leadership team.
“Aecon is dedicated to both realizing and catalyzing positive change. Along with our partners and clients, Aecon is leading the way in building thriving communities that support the transition to a net-zero economy,” said Yonni Fushman, EVP, Chief Legal Officer and Chief Sustainability Officer. “Aecon is unwavering in our drive to clearly be the number one Canadian infrastructure company and to consistently set industry benchmarks for sustainable operations and ESG reporting. Aecon’s sustainability program is integral to our core business as we move forward.”
The complete report is available on Aecon’s website at www.aecon.com/sustainability and on SEDAR at www.sedar.com.
As a Canadian leader in construction and infrastructure development with global expertise, Aecon Group Inc. (TSX: ARE) strives to be the number one Canadian infrastructure company and is proud to be recognized as one of the Best Employers in Canada. Aecon safely, profitably and sustainably delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment and management services through its Concessions segment. Join our online community on Twitter, LinkedIn, Facebook and Instagram @AeconGroup.
STATEMENT ON FORWARD-LOOKING INFORMATION
The information in this press release includes certain forward-looking statements. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein, as discussed in greater detail in Section 13 – “Risk Factors” in the Management’s Discussion and Analysis filed on February 25, 2021. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
For further information:
EVP, Chief Legal Officer & Chief Sustainability Officer
Prabh K. Banga
SVP, Corporate Development & Investor Relations
Senior Director, Corporate Affairs