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Our Corporate-Wide Carbon Emissions Reduction Target

By 2035, virtually all of Fortis utility assets will be focused on energy delivery and renewable, carbon-free generation.

  • Environment

We have established an aggressive corporate-wide target to reduce carbon emissions by 75% by 2035 from a 2019 base year.

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The pace of our planned emissions reduction is well below the two-degree Celsius pathway and is aligned with the goals of the Paris Agreement. By 2035, virtually all of Fortis utility assets will be focused on energy delivery and renewable, carbon-free generation.

We plan to achieve the target through delivering on Tucson Electric Power’s goal to reduce carbon emissions by exiting coal generation and adding approximately 2,400 megawatts of wind and solar power systems and 1,400 megawatts of energy storage systems. Other clean energy initiatives across the rest of our utilities will also contribute to achieving the target including additional renewable generation at Caribbean Utilities and FortisTCI.

Executing on this carbon emissions reduction target demonstrates our commitment to delivering cleaner energy to customers and communities and building a sustainable future.

Forward Looking Information

Fortis includes forward-looking information in this document within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (collectively referred to as "forward-looking information"). Forward-looking information reflects expectations of Fortis management regarding future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as anticipates, believes, budgets, could, estimates, expects, forecasts, intends, may, might, plans, projects, schedule, should, target, will, would and the negative of these terms and other similar terminology or expressions have been used to identify the forward-looking information, which includes, without limitation: the Corporation's 2035 carbon emissions reduction target and projected asset mix; TEP's carbon emissions reduction target and projected asset mix; and additional opportunities for renewable generation.

Forward-looking information involves significant risks, uncertainties and assumptions. Certain material factors or assumptions have been applied in drawing the conclusions contained in the forward-looking information. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally, including those identified from time to time in the forward-looking information. Such assumptions include, but are not limited to: no material impact from the COVID-19 pandemic; reasonable outcomes for regulatory proceedings and the expectation of regulatory stability; the successful execution of the capital expenditure plan; and no significant changes in government energy plans, environmental laws and regulations that could have a material negative impact. Fortis cautions readers that a number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors should be considered carefully and undue reliance should not be placed on the forward-looking information. For additional information with respect to certain of these risks or factors, reference should be made to the continuous disclosure materials filed from time to time by the Corporation with Canadian securities regulatory authorities and the Securities and Exchange Commission. All forward-looking information herein is given as of the date of this document. Fortis disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

 

 

 

October 05 2020
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