Friday 30 July 2021

Canada’s Hydro One aims for net zero emissions by 2050

Hydro One, an electricity transmission and distribution provider in Ontario, has announced its plans to achieve net zero greenhouse gas emissions by 2050.

Its shorter term target includes a commitment to achieve a 30% reduction in emissions by 2030.

The Canadian firm plans to convert its entire light-duty fleet, including sedans and SUVs, to electric vehicles (EVs) and hybrids by 2030, with 50% converted by 2025.

In addition, it has pledged to support Indigenous businesses and communities by increasing its Indigenous procurement spend to 5% of the company's purchases of materials and services by 2026 and ensure at least 30% of its executives and board members are female.

According to Hydro One, Ontario's electricity generation is largely emission-free, with only 2% of emissions coming from the power sector.

The company currently delivers electricity that is around 96% carbon emission-free.

Mark Poweska, President and CEO, Hydro One said: “At Hydro One, we recognise the vital role we play in energising life for Ontarians. As a transmission and distribution company, Hydro One is uniquely positioned to facilitate the transition towards a low carbon economy. We are a sustainable company and we are taking action now to stand for people, the planet and communities and build a sustainable future for our grandchildren and great-grandchildren.

“As an organisation, we have a responsibility to our customers and communities to push for positive change. We are contributing to a more sustainable Ontario by diversifying our talent, tackling the impacts of climate change on our business and recognising the socio-economic capacity of Indigenous businesses.”