Innergex Named Canada’s Best Corporate Citizen
LONGUEUIL, Quebec, June 28, 2023 – Innergex Renewable Energy Inc. (TSX: INE) (“Innergex” or the “Corporation”) is pleased to announce it has been awarded the first place in the Corporate Knights magazine’s 2023 ranking of Best 50 Corporate Citizens in Canada. The annual ranking of corporate sustainability performance recognizes Canadian corporations that conduct a more humane form of capitalism, prioritizing people and planet, and transforming business into a force for good.
“It is an honour to be recognized as Canada’s Best Corporate Citizen. As a 100% pure-play renewable energy producer for over 30 years, this award confirms that our business model that balances people, our planet, and prosperity is one of the main tools we have to addressing the climate crisis,” said Michel Letellier, President and Chief Executive Officer of Innergex. “Our commitment to sustainability is a driving force in everything that we do at Innergex. As we pursue our journey towards net zero together with Indigenous and local communities, we will continue to increase transparency on our reporting practices as we believe we owe it to our partners, investors, and stakeholders to provide a complete accounting of Innergex’s environmental and social impact.”
Innergex’s sustainability commitments and disclosures are guided by the United Nations Sustainable Development Goals (“UNSDGs”) and aligned with the Sustainability Accounting Standards Board (“SASB”), and the Carbon Disclosure Project (“CDP”). On April 4, 2023, Innergex published its 2022 Sustainability Report which outlines the Corporation’s commitment to improving its Environmental, Social and Governance (“ESG”) performance while continuing to grow responsibly. In November 2022, Innergex also released its first Task Force on Climate-related Financial Disclosures (“TCFD”) aligned Climate Assessment Report. In addition to today’s recognition from Corporate Knights, Innergex’s commitment to improving its ESG performance has also earned it a Bronze Parity Certification by Women in Governance.
Innergex’s recent ESG advancements include:
- issuance of its first TCFD aligned climate assessment report
- improved and expanded reporting metrics across the board
- adoption of a supplier code of conduct
- improvement of diversity, equity, and inclusion programs
- launch of a corporate electric vehicle incentive program, employee referral program, and employee volunteer day program
The Best 50 Corporate Citizens represent the gold standard for corporate sustainability leadership in Canada. To determine the ranking, 286 large Canadian organizations are analyzed against Canadian and global industry peers on a suite of 25 quantitative key performance indicators. The methodology can be found here.
About Corporate Knights
Corporate Knights Inc. is a leading sustainable-economy media and research B Corp committed to advancing a sustainable economy that supports both people and the planet. Since 2002, Corporate Knights has published an award-winning quarterly magazine. It is distributed in The Globe and Mail, The Wall Street Journal and The Washington Post. With a circulation of more than 126,000, Corporate Knights magazine is the most prominent publication dedicated to advancing a sustainable economy. The Corporate Knights research division produces global sustainability rankings, research reports and financial product ratings based on corporate sustainability performance. Its flagship ranking is the Global 100 Most Sustainable Corporations in the World, released each year during the World Economic Forum.
About Innergex Renewable Energy Inc.
For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world. Innergex conducts operations in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets currently consisting of interests in 87 operating facilities with an aggregate net installed capacity of 3,692 MW (gross 4,243 MW) and an energy storage capacity of 159 MWh, including 40 hydroelectric facilities, 35 wind facilities, 11 solar facilities and 1 battery energy storage facility. Innergex also holds interests in 13 projects under development with a net installed capacity of 760 MW (gross 849 MW) and an energy storage capacity of 605 MWh, 5 of which are under construction, as well as prospective projects at different stages of development with an aggregate gross installed capacity totaling 8,883 MW. Its approach to building shareholder value is to generate sustainable cash flows, provide an attractive risk-adjusted return on invested capital and to distribute a stable dividend.
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