Building our corporate sustainability 'cred'
Enbridge tops energy industry peers in annual Best 50 Corporate Citizens in Canada list
Out in the woods, mighty oaks grow from little acorns.
And in the boardroom, corporate sustainability has developed into a sound business practice.
“Corporate sustainability has become a common frame for assessing business projects and activities,” Enbridge’s chief sustainability officer Linda Coady recently told Canadian Industry Online magazine. “It’s much more prominent in investment circles than it was a decade ago – a company is looked at far more closely for their environmental and social performance these days than ever before.
“There is much more emphasis,” she adds, “on transparency and accountability as a way to build trust and manage risks.”
Since 2002, Corporate Knights, an independent Canadian media company focused on “clean capitalism,” has reported on the state of responsible business in Canada with the annual release of its Best 50 Corporate Citizens in Canada list.
And for the 13th year in a row, Enbridge Inc. has been named to that prestigious index, which charts publicly disclosed environmental, social, and governance criteria. The 2015 edition of the Best 50 Corporate Citizens in Canada list, released today, rates Enbridge No. 6 overall – and tops among energy industry companies.
It’s our highest ranking on this nationwide corporate sustainability index since 2012, when we were No. 8 overall.
“We are in the process of setting clearer and more measurable CSR (corporate social responsibility) and sustainability-related strategic priorities for Enbridge,” says Coady. “Earning third-party validation from the Best 50 Corporate Citizens in Canada list reaffirms our believe that we are on the right path in integrating sustainability initiatives company-wide.”
Corporate Knights, which also maintains the annual Global 100 Most Sustainable Corporations list, uses a transparent and objective methodology to rate companies on the Best 50 index – with 15 key performance indicators covering resource, employee, and financial management.
These criteria include:
- Energy, carbon, water, and waste productivity;
- Leadership diversity (percentage of women on board of directors and executive management);
- CEO-to-average-worker pay ratio;
- Employee turnover;
- Safety performance (lost time injury rate and fatalities per workforce); and
- Innovation capacity (research-and-development expenditure as a percentage of revenue).
In order to be eligible for the Corporate Knights’ annual Best 50 index, companies must be headquartered in Canada, or listed on the Toronto Stock Exchange, with at least 2,000 employees and $2-billion in revenue.