Business
Pathways to Net Zero
Originally published in Enbridge's 2022 Sustainability Report NORTHAMPTON, MA / ACCESSWIRE /...
About this update from Enbridge Inc.
[{"type":"text","content":"Pathways to Net ZeroOriginally published in Enbridge's 2022 Sustainability ReportNORTHAMPTON, MA / ACCESSWIRE / July 11, 2023 / Enbridge continues to advance progress towards our emissions reduction goals. To maintain strong progress and ensure that the assumptions and analysis underpinning our plans are rigorous, we refine our models and projections over time, remaining aware of contextual factors that shape our business environment, from technological advances to policy changes.In 2022, we fully integrated our emissions reduction goals within our business unit budgeting and long-range forecasting. As a result, our slate of emissions reduction projects are now prioritized from 2023 through 2026.We use a marginal abatement cost curve to guide our investment in emissions reduction initiatives, assessing which projects will most efficiently deliver the results required to meet our 2030 emissions intensity reduction target. Enbridge leaders agreed in 2021 on the principles and frameworks that would guide our capital allocation choices. In 2022, our business units took further steps to implement these approaches and align employee and executive compensation around executing on these GHG emissions reduction projects each year.The pathways shown remain the most current forecast of our route to net zero; carbon offsets and credits are still estimated to represent about one-quarter of our net-zero strategy. We are in the process of updating the models and forecasts that underpin these four pathways and expect to complete this analysis throughout 2023.Our net-zero strategy focuses on four key pathways:Modernization and innovation to increase efficiency and reduce the operational emissions of existing infrastructureDecarbonizing the energy we use by procuring low-carbon power and self-powering our assets with renewable energyInvesting in renewables and lower-carbon infrastructureBalancing residual emissions through selective investments of carbon offset credits generated by nature-based solutionsInvesting in tomorrow's energy We achieved substantial progress on the four key pathways that ground our net-zero strategy. We presented an overview of the relative contribution we expect each pathway will make, and in this section, we describe the specific activities and investments that are delivering emissions reductions in each area.Modernizat...