On Target: 2024 Sustainability Report Shows ATCO's Continued Progress in Environmental, Social, and Governance Performance
CALGARY, AB, May 7, 2025 /CNW/ - ATCO Ltd. (TSX: ACO.X) (TSX: ACO.Y) Canadian Utilities Limited (TSX: CU)
Today, we released our 2024 Sustainability Report, demonstrating our ongoing commitment to sustainability and environmental, social, and governance (ESG) performance. The report provides an update on our strategic initiatives and progress in key areas such as resilience and safety, the energy transition, and Indigenous and community partnerships.
"We are proud of our continued progress in 2024, which is a direct reflection of the dedication and innovation of our team," said Nancy Southern, Chair & Chief Executive Officer of ATCO Ltd. and Canadian Utilities Limited. "Companies that flourish over many decades are those that prioritize a long-term vision and look beyond the immediate horizon. For our group of companies, sustainable practices, strong governance, and operational excellence are not just moral obligations but long-term strategic imperatives. In that respect, they are safeguards against the volatility of today's business, political and economic environments."
Highlights of ATCO's 2024 sustainability performance include:
- Continued grid modernization through the replacement of traditional electricity meters, with 118,000 smart meters installed across Alberta to date.
- Investing in preventative measures to enhance system resilience, including fire-wrapping 77,000 electrical poles.
- Advancing hydrogen projects, including the launch of the Energy Discovery Centre, the first building in North America heated by 100% hydrogen.
- Reducing company-wide GHG emissions to earnings intensity by 13 per cent compared to 2023, a 40 per cent decrease compared to our 2020 baseline.
- Reducing customers' GHG emissions by 1,387,000 tonnes of carbon dioxide equivalent cumulatively since 2020.
- Generating $123 million in net economic benefit to Indigenous groups, including awarding contracts totalling over $95 million to Indigenous and Indigenous-affiliated contractors.
- Investing $9.7 million in communities through gifts-in-kind, sponsorships, donations and our matching contribution to the employee-led ATCO EPIC Program, which raised $2.5 million in pledges.
- Recognized in 2025 as one of Canada's Top Employers for Young People and Alberta's Top Employers, for the fourth consecutive year.
Looking forward, we remain focused on our continued role in achieving an equitable and sustainable energy future. We will continue to work collaboratively with stakeholders and communities to foster innovation, environmental stewardship, and resilience in the face of global challenges.
Click here to see the full ATCO 2024 Sustainability Report.
About ATCO
As a global enterprise, ATCO Ltd. and its subsidiary and affiliate companies have approximately 21,000 employees and assets of $27 billion. ATCO is committed to future prosperity by working to meet the world's essential energy, housing, security and transportation challenges. ATCO Structures designs, builds and delivers products to service the essential need for housing and shelter around the globe. ATCO Frontec provides operational support services to government, defence and commercial clients. ATCO Energy Systems delivers essential energy for an evolving world through its electricity and natural gas transmission and distribution, and international electricity operations. ATCO EnPower creates sustainable energy solutions in the areas of electricity generation, energy storage, industrial water and cleaner fuels. ATCO Australia develops, builds, owns and operates energy and infrastructure assets. ATCO Energy and Home Services provides retail electricity and natural gas services, home maintenance services and professional home advice that bring exceptional comfort, peace of mind and freedom to homeowners and customers. ATCO also has investments in ports and transportation logistics, the processing and marketing of ash, retail food services and commercial real estate. More information can be found at www.ATCO.com.
Investor Inquiries:
Colin Jackson
Senior Vice President, Financial Operations
[email protected]
403-808-2636
Media Inquiries:
Kurt Kadatz
Director, Corporate Communications
[email protected]
587-228-4571
Forward-Looking Information Advisory
Certain information in this news release constitutes forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "goal", "target", "strategy", "initiative", "future", "believe" and similar expressions. In particular, forward-looking information in this news release includes, but is not limited to, references to: the company's strategic initiatives and progress toward its ESG targets; the company's focus on its role in achieving an equitable and sustainable energy future; and the company's continued work with stakeholders and communities to foster innovation, environmental stewardship and meet global challenges.
Although the company believes that the expectations reflected in the forward-looking information are reasonable based on the information that is available on the date this news release was prepared and the processes used to prepare such information, such information does not constitute a guarantee of future performance, and no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. Such information involves a variety of assumptions, known and unknown risks and uncertainties, and other factors which may cause actual results, levels of activity, and achievements to differ materially from those anticipated. The forward-looking information in this news release reflects current beliefs and assumptions with respect to, among other things: the ability of the company to successfully achieve its 2030 ESG targets and net-zero GHG emissions by 2050; the development, performance and implementation of processes, technology and technological innovations; the ability to access and implement commercially viable technology at scale necessary to achieve GHG and other ESG targets; the pace of the energy transition; continuing collaboration with certain business partners and engagement with new business partners and regulatory and environmental groups; the receipt of regulatory approvals; the performance of assets and equipment; demand levels for oil, natural gas, gasoline, diesel and other energy sources; certain levels of future energy use; future production rates; future revenue and earnings; planned methods of transportation; the ability to meet project schedules; and other assumptions inherent in management's expectations in respect of the forward-looking information identified herein.
Actual results could differ materially from those anticipated in the forward-looking information as a result of, among other things: risks related to the development and performance of assets, technology and new energy efficient products, services, and programs, including but not limited to the use of zero-emission and renewable fuels, carbon capture utilization and storage, electrification of equipment powered by zero-emission energy sources, and the utilization and availability of carbon offsets; applicable laws, regulations and government policies, including uncertainty with respect to recent amendments to the Competition Act (Canada); regulatory decisions; competitive factors; political factors; prevailing market and economic conditions; credit risk; interest rate fluctuations; the availability and cost of labour, materials, services and infrastructure; risks related to the development and execution of projects; prices of electricity, natural gas, natural gas liquids, and renewable energy; potential termination or breach of contracts by contract counterparties; the occurrence of unexpected events such as fires, severe weather conditions, explosions, blowouts, equipment failures, transportation incidents, and other accidents or similar events; global pandemics; the imposition of customs duties, tariffs or other trade restrictions; geopolitical tensions and wars; and other risk factors, many of which are beyond the control of the company. Due to the interdependencies and correlation of these factors, the impact of any one assumption or risk on a forward-looking statement cannot be determined with certainty. Readers are cautioned that the foregoing lists are not exhaustive. For additional information about the principal risks that the company faces, see "Business Risks and Risk Management" in ATCO Ltd.'s Management's Discussion and Analysis for the year ended December 31, 2024.
Any forward-looking information contained in this news release reflects the company's expectations as of the date hereof and is subject to change after such date. The company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
SOURCE ATCO Ltd.
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