Submitted by Enbridge Inc.
NEW YORK, Dec. 9, 2020 /CSRwire/ -- S&P Global Ratings said today that Enbridge Inc. scored 75 on its ESG Evaluation. On our scale, 100 indicates the lowest risk and 0 the highest. The company's ESG Evaluation score is the result of an ESG profile of 69 combined with strong preparedness.
Enbridge is an energy infrastructure company operating in the U.S. and Canada through three core business segments: liquid pipelines; gas transmission and midstream; and gas distribution and storage. It also has a growing renewables portfolio. Enbridge's strong preparedness assessment speaks to an excellent awareness of the long-term risks and opportunities its industry faces— such as the energy transition away from oil and toward natural gas in North America—and robust scenario planning. The company has also demonstrated a commitment to its ESG-related goals and long-term decision-making through its capital spending decisions and a renumeration structure aligned to safety and achievement of environmental performance targets.
Given its vast pipeline and distribution networks, Enbridge faces exposure to environmental risks including greenhouse gas (GHG) emissions and pollution as well as significant exposure to harmful leaks and spills. However, the company has a track record of setting and achieving GHG reduction targets and reducing the total volume of liquid spills from its pipelines.
Despite notable community pushback to pipeline projects in recent years, Enbridge has remained highly focused on engaging with local communities, including indigenous tribes whose land its lines cross. Enbridge emphasizes safety as a top priority, but the company and the sector as a whole have faced a number of safety-related incidents. Enbridge's high level of commitment to diversity in its workforce and effective employee engagement is a strength compared with peers.
The governance score benefits from the company's Canadian presence, as well as a very engaged and well diversified board. The company also demonstrates high transparency in ESG reporting and discloses a higher-than-average number of material ESG metrics than many global peers.
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SOURCE S&P Global Ratings
Enbridge’s vision is to be the leading energy delivery company in North America. We deliver the energy people need and want—to heat their homes, to keep their lights on, to keep them mobile and connected.
We operate across North America, fueling the economy and people’s quality of life. We move about 25% of the crude oil produced in North America, we transport nearly 20% of the natural gas consumed in the U.S., and we operate North America’s third-largest natural gas utility by consumer count. Enbridge was an early investor in renewable energy, and we have a growing offshore wind portfolio.
We work collaboratively every day to provide safe, reliable energy. Enbridge connects energy supply with growing markets in North America through our three core businesses:
Enbridge was named to the Thomson Reuters Top 100 Global Energy Leaders in 2018; we were selected to Bloomberg’s 2019 and 2020 Gender Equality Index; and we have been ranked among the Best 50 Corporate Citizens in Canada for 18 years running, through 2020.
Enbridge Inc. is headquartered in Calgary, Canada. We have a workforce of about 13,000 people, primarily in Canada and the United States. Enbridge (ENB) is traded on the New York and Toronto stock exchanges.
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