Environmental

BC Hydro releases inaugural ESG report

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BC Hydro releases inaugural ESG report
(photo courtesy BC Hydro)

Canadian provincial utility BC Hydro has released its inaugural Environmental, Social and Governance (ESG) Report, which shares the company’s sustainability practices.

The Powering a sustainable B.C. report outlines the steps BC Hydro is taking to continue its history of contributing to the growth, well-being, and economic prosperity of the province, in five key areas:

  • Maintaining the resiliency of the electricity system while advancing electrification,
  • Managing its environmental impact,
  • Acting in the public interest,
  • Powering the potential of its employees, and
  • Working toward meaningful and lasting reconciliation with Indigenous peoples.

These key areas connect to the 17 United Nations Sustainable Development goals, according to a release.

Below are some highlights of BC Hydro’s actions that are outlined in the report:

  • Providing $260 million in incentives and programs to reduce reliance on fossil fuels in B.C. homes, businesses, transportation and industry through its Electrification Plan in support of CleanBC.
  • Investing $3.9 billion in Fiscal Year 2023 to upgrade aging assets and build new infrastructure to ensure reliability of the electricity system in a changing climate.
  • Reducing direct and indirect greenhouse gas emissions by 50% between 2007 and 2022.
  • Providing over $1.2 million per year in donations to non-profits and community organizations in B.C.
  • Supporting low-carbon electricity for Indigenous communities, including working with the Haida Nation on a solar project to reduce diesel use.
  • Providing $227 million in contracts to Indigenous-designated businesses in FY 2023 and over $179,000 in scholarships for Indigenous students.
  • Investing over $230 million in reducing or mitigating the impact of its infrastructure and operations on B.C. ecosystems including wetlands and forests and through partnerships like the Fish and Wildlife Compensation Program. This work includes building osprey platforms, installing bird diverters, building fish screens and passages, partnering to build a salmon hatchery, and building a wetland complex in the drawdown zone of its Arrow Lakes Reservoir.
  • Being recognized as one of B.C. and Canada’s Top Employers in 2023, as well as one of Canada’s Top 100 Diversity Employers, and Greenest Employers.

More than 90% of BC Hydro’s generation is produced by hydroelectric power and 98% of its generation is low-carbon or renewable energy. The company generates more than 43,000 GWh of electricity annually to supply roughly 1.9 million residential, commercial and industrial customers.