On Target: 2023 Sustainability Report shows Atco’s continuing strong Environmental, Social and Governance Performance

Press Release

CALGARY, AB, April 28, 2023 – ATCO Ltd. (TSX: ACO.X) (TSX: ACO.Y) / Canadian Utilities Limited (TSX: CU) (TSX: CU.X)

Today, ATCO released its 2022 Sustainability Report highlighting the company’s sustainability and environmental, social, and governance (ESG) performance including strategies, initiatives, targets, and metrics.  The report focuses on the transition to low-carbon energy; climate change and environmental stewardship; operational reliability and resilience; community and Indigenous relations; diversity, equity and inclusion; and safety.

“In many respects, 2022 was a milestone year in ATCO’s history. Not only did we commemorate our 75th anniversary, but we also marked several significant achievements with respect to our environmental, social and governance performance,” said Nancy Southern, Chair & Chief Executive Officer, ATCO Ltd. and Canadian Utilities Limited.  “Underpinned by our 2030 ESG targets and 2050 net zero commitment, the people of our company have continued to achieve remarkable things on behalf of our customers, communities, and investors.”

Highlights of ATCO’s 2022 sustainability performance include:

• The acquisition of a portfolio of wind and solar assets in Alberta and Ontario. This includes 232 MW of existing wind generation and a development pipeline of more than 1,500 MW of wind and solar projects.*
• Expanding cleaner fuels projects, including commissioning projects to pilot blending hydrogen into our natural gas network and a hydrogen refueling station for passenger vehicles in Western Australia.
• Reduction of company-wide GHG emissions to earnings intensity by 16 per cent compared to 2021, and a 28 per cent decrease compared to our 2020 baseline.
• Reduction of our customers’ GHG emissions, by 123,400 tonnes of carbon dioxide equivalent.
• As a part of providing $117.7M in Net Economic Benefit to Indigenous communities, completion of a historic agreement with partners Denendeh Investment Incorporated to increase their ownership stake in Northland Utilities from 14 to 50 per cent.
• Investment of $7.9 million in communities through gifts-in-kind, sponsorships, donations and our matching contribution to the employee-led ATCO EPIC Program, which raised $3.6 million in pledges.

Click here to see the full ATCO 2022 Sustainability Report.

*This transaction closed on January 3, 2023.

To learn more about our commitment to sustainability or to access ESG Datasheets, please visit Our Commitment section of ATCO.com or CanadianUtilities.com.

With approximately 7,600 employees and assets of $25 billion, ATCO is a diversified global corporation with investments in the essential services of Structures & Logistics (workforce and residential housing, innovative modular facilities, construction, site support services, workforce lodging services, facility operations and maintenance, defence operations services, and disaster and emergency management services); Utilities (electricity and natural gas transmission and distribution, and international operations); Energy Infrastructure (energy storage, renewable energy generation, industrial water solutions, and clean fuels); Retail Energy (electricity and natural gas retail sales, and whole-home solutions); Transportation (ports and transportation logistics); and Commercial Real Estate. More information can be found at www.ATCO.com.

Investor & Analyst Inquiries:
Colin Jackson
Senior Vice President, Finance, Treasury, Risk & Sustainability
[email protected] (403) 808 2636

Media Inquiries:
Robert Palmer
Manager, Corporate Communications
[email protected] (403) 710 1341

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