-- Achieves 15 per cent year-over-year CO2 emissions reduction --
Toronto, Ontario – April 22, 2022: Aecon Group Inc. (TSX: ARE) today released its third annual Sustainability Report, underscoring Aecon’s progress and key accomplishments in building innovative and sustainable practices throughout its operations and its continued commitment to embracing net-zero construction practices.
Aecon is pleased to illustrate the significant progress made in 2021 toward achieving one of the most ambitious Greenhouse Gas (GHG) reduction targets in the construction industry – to reduce its direct CO2 emissions by 30 per cent by 2030 and reach net-zero by 2050. Aecon proudly achieved a 15 per cent year-over-year CO2 emissions reduction on an intensity basis and completed a comprehensive GHG inventory, which now includes a scan of indirect (Scope 3) emissions.
“Our third annual Sustainability Report demonstrates our leadership in sustainable construction as we continue to not only integrate sustainability and innovation into our business strategy but also help our clients to advance key sustainability projects, which is all driven by our purpose to build what matters to enable future generations to thrive,” said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc. “Leveraging our multidisciplinary technical, operational and organizational strengths, we are leading the industry in advancing sustainable construction – seizing the opportunities associated with the transition to a net-zero economy, building with innovation, and introducing new methods and technologies across our operations.”
Highlights of the report include progress in the following key areas of focus:
- Building Innovation: Aecon created a single point of entry for employees to put forward new and better ways of working to focus internal efforts and prioritize project execution across its operating sectors – resulting in promising pilots such as the replacement of diesel-powered equipment with solar-powered alternatives. Aecon also became the first construction company in Canada to adopt a sustainability-linked credit facility tied to ESG goals.
- Operationalizing Sustainability: Aecon piloted several new technologies, including the innovative ECR25 Volvo Electric excavator – becoming the first construction company in Canada to operate a zero-emission excavator on an active project site. Aecon also became the first construction company in Canada to complete a scan of indirect (Scope 3) emissions and achieved a 15 per cent reduction in year-over-year GHG emissions across its operations.
- People and Communities: Aecon fielded its second diversity census, continued to enhance strategies to procure goods and services from diverse suppliers, and augmented its Safety-First culture with a program focused on eight specific activities workers perform that present elevated risks. Aecon also continued to establish collaborative and mutually beneficial relationships with Indigenous communities, including a growing number of Indigenous-led joint ventures.
- Governance and Ethics: Aecon added ESG screening to improve its evaluation of preferred suppliers and became the first construction company in Canada to commit to having its GHG emissions reduction targets validated by the globally recognized Science Based Targets initiative (SBTi).
As ready partners in the energy transition, in 2021, Aecon continued to advance key sustainability projects, from building clean-powered mass transit networks to delivering North America’s first distribution system for natural gas blended with hydrogen – and expanding its footprint in the emerging Green Home Energy Services market to deliver clean energy solutions to growing communities.
“We are working at the forefront with our partners and clients to build and operate next-generation infrastructure that enables society to adapt to a changing climate, and transition to a net-zero economy,” said Yonni Fushman, EVP, Chief Legal Officer and Chief Sustainability Officer. “As we lead the way in transforming the infrastructure of tomorrow, we continue to set industry benchmarks in sustainable construction while integrating our sustainability program into our core business – moving Aecon forward as the number one Canadian infrastructure company.”
The complete report is available on Aecon’s website at www.aecon.com/sustainability and on SEDAR at www.sedar.com.
About Aecon
As a Canadian leader in construction and infrastructure development with global expertise, Aecon Group Inc. (TSX: ARE) strives to be the number one Canadian infrastructure company and is proud to be recognized as one of the Best Employers in Canada. Aecon safely, profitably and sustainably delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment and management services through its Concessions segment. Join our online community on Twitter, LinkedIn, Facebook and Instagram @AeconGroup.
Statement on Forward-Looking Information
The information in this press release includes certain forward-looking statements. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein, as discussed in greater detail in Section 13 – “Risk Factors” in the Management’s Discussion and Analysis filed on March 1, 2022. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
For further information:
Yonni Fushman
EVP, Chief Legal Officer & Chief Sustainability Officer
(416) 297-2617
sustainability@aecon.com
Prabh K. Banga
Director, Sustainability
(416) 639-7402
sustainability@aecon.com
Adam Borgatti
SVP, Corporate Development and Investor Relations
(416) 297-2610
aborgatti@aecon.com
Nicole Court
Vice President, Corporate Affairs
(647) 484-1477
ncourt@aecon.com