Cogeco Unveils Its Climate Action Plan and Receives a Prestigious 'A' Rating From CDP for Its Environmental Transparency
MONTRÉAL, Dec. 7, 2021 /CNW Telbec/ - Cogeco (TSX: CGO) is pleased to present its first Climate Action Plan which also includes its Task Force on Climate Related Disclosures (TCFD) report outlining the key steps the company is taking in support of urgent climate action, as well as its processes and strategies to assess and manage climate-related risks and opportunities. The company also announces that it has been awarded the prestigious 'A' rating for its leadership in environmental transparency by the internationally recognized organization CDP.
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. This plan aims to facilitate access to all the information related to our climate change strategy. It comes a few weeks after Cogeco received HRH The Prince of Wales' Terra Carta Seal in recognition of its commitment to creating a sustainable future.
The 'A' rating awarded to Cogeco by CDP, which manages the annual global rating system recognized as a standard for corporate environmental transparency, demonstrates Cogeco's leadership and commitment to best practices in governance, disclosure and emissions reduction.
"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. 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," said Philippe Jetté, President and Chief Executive Officer of Cogeco.
Earlier this year, Cogeco announced its new science-based emissions reduction target, becoming the first Canadian telecommunications company to set an ambitious emissions reduction target in line with the pathway required to limit warming to 1.5°C. Cogeco has now taken this a step further, by extending this target to include our ambition to achieve net zero emissions across our entire value chain 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. As further proof of its commitment to fight against climate change, Cogeco 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.
ABOUT COGECO INC.
Cogeco Inc. is a holding corporation which operates in the communications and media sectors. Its Cogeco Communications Inc. subsidiary provides residential and business customers with Internet, video and telephony services through its two-way broadband fibre networks, operating in Québec and Ontario, Canada, under the Cogeco Connexion name, and in the United States under the Atlantic Broadband brand in 12 states. Its Cogeco Media subsidiary owns and operates 23 radio stations with complementary radio formats and extensive coverage serving a wide range of audiences mainly across the province of Québec, as well as Cogeco News, a news agency. Cogeco's subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CGO). The subordinate voting shares of Cogeco Communications Inc. are also listed on the Toronto Stock Exchange (TSX: CCA).
SOURCE Cogeco Inc.