MONTREAL — Cogeco Inc. today unveiled its first Climate Action Plan and its Task Force on Climate Related Disclosures (TCFD) report, which outlines the key steps the company is taking to address climate change as well as its processes and strategies to assess and manage climate-related risks and opportunities.
“This plan aims to facilitate access to all the information related to our climate change strategy,” reads a Cogeco press release.
“Climate action must be a priority for all industries as a continued collective effort is required to build a prosperous and sustainable economy. Cogeco is determined to demonstrate strong and inspiring leadership and take concrete action to address climate change,” the press release says.
The release of Cogeco’s climate action plan comes a few weeks after the company was awarded the Terra Carta Seal from The Prince of Wales’ Sustainable Markets Initiative in recognition of Cogeco’s commitment to creating a sustainable future.
Cogeco also announced today “it has been awarded the prestigious ‘A’ rating for its leadership in environmental transparency by the internationally recognized organization CDP,” says the press release.
“Cogeco strives to be a leader in the implementation of the best environmental, social and governance (ESG) practices. In this regard, seeing our efforts recognized by the ‘A’ rating from CDP, a world-renowned environmental transparency organization, makes us even prouder,” said Philippe Jetté, president and CEO of Cogeco, in the release.
“Cogeco is committed to leading the path to decarbonisation for the telecommunications sector and we recognize the importance of transparent disclosure around our management of climate-related issues in line with TCFD recommendations.”
In January 2021, Cogeco announced its new science-based emissions reduction targets, which included reducing emissions from its operations by 65% by 2030.
In October, the company announced it aims to achieve net-zero emissions by 2050.
“Achieving these medium-term and long-term targets requires a detailed action plan involving collaboration and innovation across all areas of our business, as well as with our supply chain partners,” says the company’s press release.
Cogeco also recently joined the campaign “Great Expectations: Fast-forward Montréal’s climate transition”, led by the Montreal Climate Partnership, “a group of economic, philanthropic and institutional players and environmentalists who wish to stimulate the implementation of concrete actions to accelerate the achievement of carbon neutrality and climate resilience objectives,” the release says.
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