SUSTAINABILITY NEWS

 

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Fortis Releases its First TCFD and Climate Assessment Report

At Fortis, we are executing our strategy to ensure we continue to deliver reliable and affordable service to our customers as we transition to a more sustainable, low-carbon economy.

  • Environment
  • Governance

We made significant progress today on our commitment as a Task Force for Climate-Related Financial Disclosures (“TCFD”) supporter by releasing our first TCFD and Climate Assessment Report

The report includes an analysis of four climate-related scenarios, including identified risks and opportunities. The scenario analysis findings will guide our strategy and actions to combat climate change, identify new opportunities associated with decarbonization, and guide investment in resilient and adaptable infrastructure.

The strong governance and oversight of climate matters we have in place are also detailed, and how climate-related risks are incorporated into our existing risk management, long-term strategy, and financial planning processes. We also provide information on material climate-related metrics regularly disclosed by Fortis, including the achievement of a 20% emissions reduction toward our Scope 1 emissions reduction target of 75% by 2035 from a 2019 base year.

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 U.S. 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 expectations regarding how different climate scenarios may affect the Corporation’s risks and opportunities.

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. Such assumptions include, but are not limited to, reasonable outcomes for regulatory proceedings and the expectation of regulatory stability, 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 by the Corporation from time to time on SEDAR and EDGAR. All forward-looking information herein is given as of the date of this media release. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

March 09 2022
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