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Toronto Hydro lands spot on Best 50 Corporate Citizens by Corporate Knights Magazine

TORONTO, June 29, 2023 /CNW/ - Toronto Hydro has ranked third for corporate citizenship among electricity transmission and distribution utilities in Canada in Corporate Knights Magazine's annual ranking. Toronto Hydro also placed 19th in the magazine's annual ranking of the Best 50 Corporate Citizens.

For more than 20 years, Corporate Knights Inc. has published one of the world's largest circulation magazines with a specific focus on the intersection of business and sustainability.

The ranking is compiled after evaluating a total of 286 companies against a set of environmental, social and governance indicators, relative to their industry peers and using publicly available information.

The ranking recognizes Toronto Hydro's sustainability achievements, including its commitment to reaching net zero scope one emissions (direct emissions) in its operations by 2040, and ongoing efforts to improve reliability, reduce greenhouse gas emissions and foster workplace diversity.

To learn more about Toronto Hydro's environmental performance, please visit torontohydro.com/environment.

  • This is the sixth time that Toronto Hydro has been recognized for its leadership in Environmental, Social and Governance (ESG), sustainability and climate adaptation by Corporate Knights Inc.'s Best 50 Corporate Citizens in Canada list

  • Toronto Hydro is one of only 13 electrical utilities in Canada to be designated as a Sustainable Electricity Leader™ by Electricity Canada, in recognition of our sustainability performance

  • Toronto Hydro operates an externally certified Environmental, Health and Safety (EHS) Management System in accordance with the International Organization for Standardization's (ISO) 2015 Standard for Environmental Management Systems (ISO 14001:2015) and 2018 Standard for Occupational Health and Safety Management Systems (ISO 45001:2018)

  • In 2022, Toronto Hydro reduced fleet fuel consumption and associated emissions by 11 per cent relative to 2021 through fleet-related initiatives, including anti-idling technology, use of bio-diesel and use of hybrid/fully electric vehicles (EVs)

  • Last year, Toronto Hydro installed 32 on-street EV charging stations

  • In 2022, Toronto Hydro reduced greenhouse gas emissions (scope one and two) by 8 per cent compared to the previous year, and by 40 per cent compared to 2018

"It's an honour to once again be recognized for our continued efforts in building a more sustainable and inclusive future. As the electricity distribution company powering Canada's largest city, we are committed to helping Toronto reach its net-zero vision. On behalf of Toronto Hydro, I'd like to thank Corporate Knights for this recognition and congratulate our fellow Canadian companies included in this year's ranking.

     - Anthony Haines, President and CEO, Toronto Hydro

About Toronto Hydro

The Corporation is a holding company that wholly owns two subsidiaries:

  • Toronto Hydro-Electric System Limited (THESL) — distributes electricity; and

  • Toronto Hydro Energy Services Inc. — provides streetlighting and expressway lighting services in the city of Toronto

The principal business of the Corporation and its subsidiaries is the distribution of electricity by THESL, which owns and operates the electricity distribution system for Canada's largest city. Recognized as a Sustainable Electricity Leader™ by Electricity Canada, it has approximately 791,000 customers located in the city of Toronto and distributes approximately 17 per cent of the electricity consumed in Ontario.

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SOURCE Toronto Hydro Corporation