Transparency central to our sustainable finance strategy

As a company, Enbridge holds itself accountable. When we say we are going to do something, we work hard to do it – and this extends to key metrics by which we measure our sustainability performance.

In the case of the company’s Environmental, Social & Governance (ESG) program, the company has put its money where its mouth is through its Sustainability-Linked Bond Framework.  

“The issuance of sustainability-linked bonds reinforces our efforts around our emissions reduction goals by aligning our business and financing with our energy transition strategy,” says Sheldon Bueckert, Director of Capital Markets.

“Simply put, sustainability-linked bonds reflect the transparency inherent to our ESG program.”

To this end, all lobbying activity is disclosed in Enbridge’s annual Sustainability Report. In addition, the company reports on reductions in scope 1 and 2 emissions and measurable scope 3 emissions such as utility customers’ natural gas use, employee air travel and electricity grid loss.

“We use the bonds to incent the achievement of our ESG goals by tying our borrowing costs to meet those targets,” adds Sheldon.

“This is done by meeting targets to increase diversity and reduce emissions. If we don't meet these targets, our borrowing costs go up.”  

Enbridge has made strong progress on key targets since announcing its ESG goals in late 2020, both increasing diversity in its workforce and reducing its greenhouse gas (GHG) emissions.

In short, meaningful progress has been made; and it's regularly reported to the investment community.  

For example, as detailed in the company’s 2023 Sustainability Report, Enbridge achieved a 37% reduction in GHG emissions intensity and a 20% reduction in absolute GHG emissions from 2018 baseline levels.

Among other highlights, the company increased workforce representation of underrepresented ethnic and racial groups, U.S. veterans, women, Indigenous peoples and persons with disabilities, while continuing to advance the goals outlined in its Indigenous Reconciliation Action Plan.

These regular ESG performance updates, coupled with enhanced climate lobbying reporting, underscore Enbridge’s transparency to investors and public alike on its sustainability initiatives.