Our Commitment to Net-Zero
Achieving net zero by 2050 is a societal challenge that no individual, business, or government can solve on their own. It will require unprecedented collaboration among all constituents, as well as an informed, pragmatic, and affordable roadmap from policymakers to unlock the necessary scale and pace of private sector investment and expertise.
Roadmap to Net-Zero
Globally, almost a quarter of ATCO’s power generation portfolio is already coming from renewable sources, including hydroelectric, wind and solar. ATCO is on a firm trajectory to achieve our goal of owning, developing, or managing more than 1,000 MW of renewable energy by 2030.
In addition to our 2030 ESG targets, we announced a commitment to achieve net-zero GHG emissions by 2050. This means that by 2050, we will either emit no GHGs from our operations or through our customers’ use of our products and services, or we will offset residual emissions.
Achieving net zero by 2050 is a societal challenge that no individual, business, or government can solve on their own. It will require unprecedented collaboration among all constituents, as well as an informed, pragmatic, and affordable roadmap from policymakers to unlock the necessary scale and pace of private sector investment and expertise.
With operations across the energy value chain, ATCO will be a leader in driving the energy transition toward cleaner fuels and electricity, without sacrificing the safety, reliability, and affordability of energy that our customers rely on.
Developing and modernizing infrastructure and storage solutions, including the integration of carbon capture utilization and storage (CCUS).
Supporting the transition to a low-carbon energy system by enabling the switch to cleaner fuels.
Developing and integrating renewable energy and storage solutions.
Implementing solutions for more efficient energy use to reduce emissions while also creating economic benefit.
Evaluating carbon offset opportunities.
"Achieving net zero by 2050 requires a thoughtful approach; one that balances emissions reductions with affordability, reliability and energy security. From ATCO’s unique vantage point, with operations spanning the energy value chain, the scale of the task is monumental — though so too are the opportunities. That is why it is important that we work collaboratively with a wide ecosystem of stakeholders, from Indigenous Peoples and governments to local communities and customers, to bring our shared vision of a cleaner energy future to life."
DALE FRIESEN
Senior Vice President, Corporate Affairs &
Chief Government Affairs Officer
ATCO has been on a path of energy transition and decarbonization for many years and we are committed to continuing this work. Energy transition involves thoughtfully investing in innovative and emerging solutions so that our customers and business units can reduce their emissions in ways that work for their individual situations.
To actively transition the energy system, we are advancing innovative technology and providing a suite of integrated solutions to meet our customers’ needs, while ensuring energy remains safe, secure, reliable and affordable. The right solutions in the energy transition are different in each jurisdiction and across the globe. Seasonal temperatures, proximity to water, sunny skies, access to resources – each factor lends itself to a different mix of renewables and cleaner energy.
To enable the energy transition, we constructively advocate for government policies that meet societal needs in pragmatic and affordable ways. The pace and scale of change necessary to achieve a net-zero energy system by 2050 requires government support and regulatory certainty to reduce barriers to cost-effective, economy-wide decarbonization, and unlock the significant potential of the private sector.
Discussions range from providing policy certainty to our non-regulated businesses to support investment decisions, to ensuring regulations continue to evolve to enable our regulated businesses to deliver the innovative, lower-emitting energy solutions our customers require. For ease of presentation, projects discussed in this section combine initiatives from our non-regulated and regulated business lines.
One of our 2030 ESG targets is to derive 20 per cent of our revenue from transitional product categories. As a result of the projects described in this section, and as demonstrated on our ESG target scorecard, we are progressing toward this target. In 2022, $88.4 million of our revenue was derived from transitional products and services, or about two per cent.