Hydro One's 2024 Sustainability Vision: A Commitment to Progress
Hydro One's 2024 Sustainability Report Highlights
Hydro One Limited recently released its 2024 Sustainability Report, showcasing their commitment to sustainable practices and community engagement. Titled A Better and Brighter Future for All, this report reflects on Hydro One's performance in various environmental, social, and governance measures.
In the words of Megan Telford, Executive Vice President of Strategy and Energy Transition, the time is ripe for transformation and ingenuity in Ontario. The evolving economic landscape and increasing energy demands compel Hydro One to adapt and align its strategies with sustainability goals, ultimately serving the people of Ontario better.
Key Achievements in Sustainability
The report illustrates significant strides made towards sustainability in 2024. Some remarkable highlights include:
- About 44% of the company's sedans and SUVs now run on electric or hybrid technology, representing a significant shift towards greener transportation.
- Hydro One has successfully allocated around 5.5% of its total procurement budget to Indigenous businesses and materials, surpassing its 2026 target of 5%.
- The establishment of approximately 62 hectares of pollinator habitats shows Hydro One's dedication to biodiversity.
- Development of the Wawa Timmins Power Line, with strong support from impacted First Nations, emphasizes Hydro One's collaborative approach.
- Achievement of zero fatalities and a commendable total recordable injury rate of 0.55, showcasing the priority placed on employee safety.
Investment in Community and Infrastructure
As Ontario's largest electricity transmission and distribution provider, Hydro One serves 1.5 million customers, backed by $36.7 billion in assets and projected revenues of $8.5 billion. The company's workforce, consisting of over 10,000 skilled professionals, is dedicated to building and maintaining a reliable electricity network, which is crucial for supporting thriving communities.
In 2024, Hydro One invested a robust $3.1 billion into its transmission and distribution networks, creating a ripple effect in the local economy through its commitment to sourcing $2.9 billion worth of goods and services. This not only strengthens the infrastructure but also reflects Hydro One's pledge to community involvement and economic development.
Commitment to Diversity and Sustainability
Hydro One's dedication extends beyond infrastructural investment; it actively champions community investment, sustainability initiatives, and diverse practices within its operations. This holistic approach is foundational to its business model, ensuring that Hydro One is not just a service provider but a vital partner in community growth.
Further Information on Hydro One
Common shares of Hydro One Limited are traded on the TSX, with certain medium-term notes available on the NYSE. For those seeking additional insights into Hydro One's operations, governance practices, and social responsibility initiatives, extensive information is accessible through their official platforms.
Frequently Asked Questions
1. What is the focus of Hydro One’s 2024 Sustainability Report?
The report emphasizes strategic and sustainable growth to serve the community effectively and responsively.
2. How much investment did Hydro One make in 2024?
Hydro One invested $3.1 billion in its transmission and distribution networks in 2024.
3. What percentage of Hydro One's vehicles are electric or hybrid?
Approximately 44% of Hydro One's sedans and SUVs have transitioned to electric or hybrid models.
4. How does Hydro One engage with Indigenous communities?
Hydro One surpasses its procurement goal, dedicating 5.5% of total spending to Indigenous businesses and materials.
5. Where can I find more information about Hydro One?
Visit Hydro One's official website for extensive details on their governance, social responsibility, and operational insights.
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