ATCO announces plans to reach net zero emissions by 2050
Logo of ATCO Ltd., operating as the ATCO Group, a publicly-traded Canadian engineering, logistics and energy holding company. On Wednesday, 11 August 2021, in Edmonton, Alberta, Canada. (Photo by Artur Widak/NurPhoto via Getty Images)
ATCO announced on Wednesday the company is working toward achieving net zero greenhouse gas emissions by 2050.
The company says the goal of becoming net zero by 2050 builds on past efforts to decarbonize, including a 90 per cent reduction in operational greenhouse gas emissions from 2019 to 2020.
"ATCO is actively pursuing several pathways to further reduce its operational emissions, as well as its customers’ emissions, by accelerating the deployment and use of clean hydrogen, energy storage, renewable electricity, and energy efficiency technologies," a news release stated.
The company said it is working with all levels of government to advocate for "enabling policy and regulation, and to identify barriers that impede cost-effective, economy-wide decarbonisation."
ATCO chair and CEO Nancy Southern says achieving net zero by 2050 is a societal challenge that no individual, business, or government can solve on its own.
"It will require unprecedented collaboration among all constituents, as well as an informed, pragmatic, and affordable roadmap from policymakers to unlock the necessary scale and pace of private sector investment and expertise," Southern said.
ATCO also announced on Wednesday several environmental, social and governance (ESG) targets for 2030, including reducing its operational and customer emissions, growing its renewable energy footprint, increasing economic benefits for Indigenous partners, continuing to focus on safety, and further promoting diversity, equity, and inclusion in the workplace.
"Our ambitious ESG targets reflect the same holistic perspective that has underpinned our growth for decades—one that considers not just near-term economic pressures but creates truly intergenerational, sustainable prosperity," said Southern.
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