Business
Enbridge Board on Balancing Climate Goals and Shareholder Value
A Q&A with Enbridge's CSO & Committee Chair NORTHAMPTON, MA / ACCESSWIRE / June 20, ...
About this update from Enbridge Inc.
[{"type":"text","content":"Enbridge Board on Balancing Climate Goals and Shareholder ValueA Q&A with Enbridge's CSO & Committee Chair NORTHAMPTON, MA / ACCESSWIRE / June 20, 2024 / EnbridgeOriginally published in Enbridge's 2023 Sustainability ReportQ (Pete): While the practical necessity of a balanced approach to energy, environmental and economic policies has been reinforced in recent years, so too has the urgency of addressing our global climate challenge. How does the Board think about navigating this terrain, advancing resilient solutions and preserving shareholder value?A (Susan): Well that's a big question, and given the Company's role in the energy infrastructure business, one that the Board is quite focused on from a governance and strategy perspective. This is a capital-intensive business with investments made in long-lived assets-this requires a keen focus on the fundamentals, looking out over multiple time horizons. Some of this analysis is ultimately reflected in our sustainability reporting, specifically the TCFD scenario planning that helps to stress test the Company's strategy.In the context of the Sustainability Committee, we focus on time horizons as well. We're asking: What actions can the Company take today to position for long-term success, de-risk challenges and advance growth opportunities? What are the expectations of various stakeholders and how is the Company evolving to meet and exceed those expectations? In many ways, the 2020 ESG goals and the 2022 Indigenous Reconciliation Action Plan have provided a scorecard to gauge progress and highlight opportunities for further improvement.On the question of balancing climate progress, energy access and affordability, there are solutions found at the intersection of all three- that's where the Company and the Board remain focused.Q (Pete): The language of sustainability and some of the metrics and methodologies of evaluating performance has become a Rorschach test of sorts among various stakeholders-with differing interpretations and expectations. How does the Board think about this current dynamic?A (Susan): This is the Company's 23rd Sustainability Report. And while behaviors and work practices have been aligned to the Company's core values and high standards of corporate social responsibility for far longer, our ESG framework and consistent reporting has proven a useful tool ...