Business
Tantalus Systems Publishes Inaugural ESG Report
Sets goals and commitments to key initiatives across the organization Burnaby, British Columb...
About this update from Tantalus Systems Holding Inc
[{"type":"text","content":"Tantalus Systems Publishes Inaugural ESG ReportSets goals and commitments to key initiatives across the organizationBurnaby, British Columbia--(Newsfile Corp. - June 14, 2022) - Tantalus Systems (TSX: GRID) (\"Tantalus\" or the \"Company\"), a smart grid technology company focused on helping build sustainable utilities, is pleased to announce the publication of its inaugural Environment, Social and Governance (ESG) Report. The report is published in alignment with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD), both of which are widely recognized global sustainability reporting frameworks. The inaugural ESG Report covers the period ending December 31, 2021, and highlights the ways in which Tantalus is working to create a sustainable and equitable future internally as well as for its growing user community of utilities. The consequences of global climate change continue to challenge the resiliency of distribution grids. Additionally, the accelerating adoption of electric vehicles is stressing existing grid infrastructure by changing the system plans for utilities and putting transformers at risk of failure. Absent investments to digitize the distribution grid in order to access granular consumption and power quality data, utilities are at risk of being unprepared. \"Our purpose, as an organization, is to develop and advance smart grid solutions that create a sustainable and equitable future for the utilities we support and the communities they serve,\" said Peter Londa, President and CEO of Tantalus. \"In addition to helping the utility industry meet their ESG initiatives, we are committed to reducing our own impacts by proactively assessing our operational resource allocations, establishing company-wide ESG goals and objectives, and improving our internal policies to meet the expanding expectations of our customers, shareholders, employees and broader stakeholders.\" Tantalus' smart grid platform is helping utilities track and quantify their environmental impact. For example, Tantalus' technology is currently allowing utilities to reduce their vehicle fleets' annual mileage by more than 12 million miles and to manage 57 Gigawatt hours of renewable energy every year, translating to approximately 50,000 metric tons of avoided carbon dioxide emissions. Further...