“Our vision of what it means to be a responsible Canadian energy infrastructure company has served us well through industry cycles and economic changes, particularly in recent years,” says David Smith, Chief Executive Officer. “Through a robust engagement process that involved internal and external stakeholders, we identified six ESG priorities that will enhance our commitment to ESG performance and transparency.”
Keyera’s six ESG priorities are:
- Safety;
- People and culture;
- Emissions;
- Community and Indigenous relations;
- Land management; and
- Water.
“Our ESG priorities reflect factors we believe have the most significant potential impact on Keyera’s stakeholders and our business,” says Dean Setoguchi, President. “We believe best-in-class management of these priorities will be critical to identify opportunities, mitigate risk and set us up for long-term success.”
Keyera’s ESG Report aligns to guidance set out by the Sustainability Accounting Standards Board (SASB) for metrics and topics likely to have a material impact on the financial and operational performance of midstream energy companies.
Keyera is committed to continuing to enhance the transparency of its future ESG disclosure and plans to set an emissions reduction target in 2021. Read Keyera’s full ESG report here.
Long-term Solar Power Agreement
Keyera and Samsung Renewable Energy Inc. today announced the signing of a 15-year PPA. The 25-megawatt (MW) capacity solar generation facility will be located north of Drumheller, Alberta, and construction will begin in the fall of 2021.
“Keyera’s agreement with Samsung Renewable Energy supports renewable infrastructure development in Alberta,” says Smith. “It also demonstrates our commitment to reducing our overall carbon intensity.”
“We are delighted to expand our renewable and sustainable business portfolio in North America and to partner with Keyera to support their clean energy initiatives” said Daniel Choi, President of Samsung Renewable Energy.
When the facility begins commercial operation in mid-2022, Keyera will be the sole purchaser of the renewable electricity produced. The forecasted 53,000 MWhs of power produced is equivalent to about 10% of Keyera’s total annual consumption – enough to power about 4,000 houses annually.
“This deal is one example of many potential emissions reduction initiatives that will lead to Keyera becoming a key contributor to Canada’s transition to a low-carbon economy,” says Smith.
The benefits for Keyera include:
- contracted fixed electricity pricing for 15 years; and
- more than 28,000 tonnes of annual carbon emission offsets that will be applied to lower the carbon intensity of Keyera’s assets
ABOUT KEYERA CORP.
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.