Manage our impact responsibly
Table of Contents
Maintain a foundation of trust
Obsessed with your success
Supplemental reporting
Overview
Appendices
Environmental impact of our operations
We have an opportunity to reduce the direct environmental impact of our operations and further integrate environmental considerations into our business practices. A focus to enhance the resiliency and energy efficiency of our operations and use resources in a responsible and cost-effective manner supports our long-term growth aspirations and contributes to a sustainable, low-carbon economy.
GREENHOUSE GAS EMISSIONS
banking centre network across our entire national footprint. Our estimated total Scope 1 and 2 GHG emissions of 5,953 tCO 2 e were primarily driven by our Alberta-based corporate office space and banking centres. As a result of the expanded scope of our emissions estimate, we have initiated the development of a comprehensive reduction plan and targets, using a science-based approach, which will replace our Alberta Capital Region targets and include our entire national footprint. We expect to use 2022 as our base year in the development of our reduction plan and targets and will develop a policy that defines the circumstances and thresholds that would trigger a baseline recalculation. Looking forward, we expect our emissions to decline based on both the targeted actions we take to reduce our carbon footprint and the decarbonization of electrical grids across Canada.
Since 2017, we have estimated our Scope 1 and 2 GHG emissions in alignment with the Greenhouse Gas Protocol for the Alberta Capital Region, which includes our Edmonton corporate office and Edmonton-area banking centres. Scope 1 and 2 GHG emissions are those that result from carbon- producing activities at our locations, primarily related to electricity and natural gas usage. For the Alberta Capital Region, we had previously set absolute emissions reduction targets of 15% by 2025 and 25% by 2035, based on our fiscal 2017 baseline. In 2022, our total Scope 1 and 2 GHG emissions for the Alberta Capital Region were 29% lower compared to 2017, exceeding both targets. In 2022, we expanded the estimation of our Scope 1 and 2 GHG emissions to include our corporate office space and
2022 results (1)
Metric
Unit of measure
2022
Energy consumption Direct energy use (Scope 1)
KPMG provided limited assurance of this figure in 2022. Refer to page 74 for KPMG’s Independent Limited Assurance Report.
42,037
Gigajoules (GJ)
35,160
Indirect energy use (Scope 2)
GJ
GHG emissions Scope 1
2,339
3,614
Scope 2
Tonnes of carbon dioxide equivalent (tCO 2 e)
5,953
Total Scope 1 and 2
0.089
Scope 1 and 2 emissions intensity
tCO 2 e/square metre of space occupied
(1) Please refer to the footnotes on page 63 of this report for further details on the figures included within the table, including key assumptions and the scope of calculations.
51 2022 SUSTAINABILITY REPORT AND PUBLIC ACCOUNTABILITY STATEMENT
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