Corporate Knights ranks Toronto Hydro second among electricity utilities in Canada
TORONTO, June 26, 2024 /CNW/ - Toronto Hydro has ranked second for corporate citizenship among electricity transmission and distribution utilities in Canada in Corporate Knights Magazine's annual ranking. Toronto Hydro also placed 11th in the magazine's annual ranking of the Best 50 Corporate Citizens.
For more than 20 years, Corporate Knights Inc. has published one of the world's largest circulation magazines with a specific focus on the intersection of business and sustainability.
The ranking is compiled after evaluating a total of 340 companies against a set of environmental, social and governance indicators, relative to their industry peers and using publicly available information.
The ranking recognizes Toronto Hydro's sustainability achievements, including its commitment to reaching net-zero scope one emissions (direct emissions) in its operations by 2040, ongoing efforts to improve reliability, foster workplace diversity, and ensure the safety and well-being of its employees.
To learn more about Toronto Hydro's environmental performance, please visit torontohydro.com/environment.
QUICK FACTS
- This is the seventh time that Toronto Hydro has been recognized for its leadership in Environmental, Social and Governance, sustainability and climate adaptation by Corporate Knights Inc.'s Best 50 Corporate Citizens in Canada list
- Toronto Hydro is one of only 13 electrical utilities in Canada to be designated as a Sustainable Electricity Leadertm by Electricity Canada, in recognition of our sustainability performance
- Toronto Hydro operates an externally certified Environmental, Health and Safety Management System in accordance with the International Organization for Standardization's (ISO) 2015 Standard for Environmental Management Systems (ISO 14001:2015) and 2018 Standard for Occupational Health and Safety Management Systems (ISO 45001:2018)
- Electric vehicles and plug-in hybrid electric vehicles accounted for 20 per cent of Toronto Hydro's fleet in 2023
- Toronto Hydro achieved a 21 per cent reduction in building emissions compared to the last five years
QUOTE
"Sustainability is a key part of our vision to provide safe and reliable power to the many homes and businesses of Toronto, and our commitment to helping the city reach its net-zero vision. On behalf of Toronto Hydro, I'd like to thank Corporate Knights for once again recognizing our continued efforts and congratulate our fellow Canadian companies included in this year's ranking."
- Anthony Haines, President and CEO, Toronto Hydro
ABOUT TORONTO HYDRO
Toronto Hydro is a holding company which wholly owns two subsidiaries:
- Toronto Hydro-Electric System Limited (THESL) ? distributes electricity; and
- Toronto Hydro Energy Services Inc. ? provides streetlighting and expressway lighting services in the city of Toronto
The principal business of Toronto Hydro and its subsidiaries is the distribution of electricity by THESL, which owns and operates the electricity distribution system for Canada's largest city. Recognized as a Sustainable Electricity Leadertm by Electricity Canada, it has approximately 794,000 customers located in the city of Toronto and distributes approximately 17 per cent of the electricity consumed in Ontario.
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SOURCE Toronto Hydro Corporation
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