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.”