Pembina Pipeline Corporation (TSX: PPL) (NYSE: PBA) is pleased to announce its commitment to reduce the company’s greenhouse gas ("GHG") emissions intensity by 30 percent by 2030, relative to baseline 2019 emissions. The GHG reduction target will help guide business decisions and improve overall emissions intensity performance while increasing Pembina’s long-term value and ensuring Canadian energy is developed and delivered responsibly.
To meet the 2030 GHG emissions intensity target, Pembina will focus initially on operational opportunities, greater use of renewable and lower emission energy sources, and investments in a lower carbon economy.
Pembina is pursuing initiatives that will lower both emissions and operating costs. Through a lens of continuous improvement, the Company is taking further steps to reduce its environmental footprint while utilizing its assets more efficiently. Operational contributions to the achievement of Pembina’s target will include:
– Optimizing pipeline capacity and operations.
– Constructing cogeneration facilities at the Empress NGL Extraction Facility and Duvernay Complex, as well as additional potential cogeneration projects at other facilities.
– Modernizing and optimizing compression facilities to reduce the amount of energy consumed.
– Enhancing leak detection and repair programs at facilities.
– Reducing flaring and venting.
The energy evolution to a lower carbon economy will create new opportunities for Pembina and its stakeholders. Pembina has recently announced new initiatives, and is actively exploring others that represent fundamentally strong business opportunities and at the same time will contribute to the achievement of its GHG emissions reduction target including:
– Increasing the use of renewable energy through efforts such as Pembina’s recently announced power purchase agreement with TransAlta on the Garden Plain Wind Power Project, as well as other potential renewable power purchase agreements across Pembina’s business
– Developing the Alberta Carbon Grid, which will allow Pembina to play a vital role in helping Alberta-based industries effectively manage emissions and contribute positively to a lower-carbon economy.
– Evaluating pilot projects for carbon capture and storage at Pembina’s gas processing and fractionation facilities.
Pembina publishes a full-length sustainability report on a biennial basis and in interim years provides an update of its environmental, social and governance ("ESG") performance metrics on its website. The Company’s 2020 Sustainability Report, which was released in December 2020, included ESG performance data for the years 2017-2019. Pembina also released ESG performance data for 2020, highlights from which include:
Pembina continued to deliver a safety record that exceeded the industry average, with a Total Recordable Injury Frequency that was more than 30 percent lower than the industry average.
Pembina invested over $9 million within communities where it operates and maintained all pre-pandemic community investment commitments. Through Pembina’s Community Investment Program, it partners with non-profit and charitable organizations to provide financial and in-kind support and engage employees to support communities through its volunteering and donation matching program.
Looking forward, a dedicated ESG team has been formed and will play an important role in further advancing Pembina’s ESG journey. In 2022, Pembina will continue to make progress towards aligning its disclosure with the Task Force on Climate-related Financial Disclosure (TCFD) reporting framework while continuing to explore additional opportunities to quantify and analyze climate-related risks and opportunities, and industry best practices.
Courtesy of Pembina.
