At Brookfield, sound Sustainability practices are integral to building resilient businesses and creating long-term value for our investors and other stakeholders.
OUR GUIDING SUSTAINABILITY PRINCIPLES
- Strive to minimize the environmental impact of our operations and improve our efficient use of resources over time.
- Support the goal of net zero greenhouse gas (GHG) emissions by 2050 or sooner.
- Foster a positive work environment based on respect for human rights, valuing diversity, and zero tolerance for workplace discrimination, violence or harassment.
- Operate with leading health and safety practices to support the goal of zero high-risk safety incidents.
- Operate to the highest ethical standards by conducting business activities in accordance with our Code of Business Conduct and Ethics.
- Maintain strong stakeholder relationships through transparency and active engagement.
- Ensure the interests, safety and well-being of the communities in which we operate are integrated into our business decisions.
- Support philanthropy and volunteerism by our employees.
Brookfield Renewable Corporation Sustainability Report
Learn more about our strategy to accelerate the energy transition in a responsible manner. This report outlines our progress and goals and includes our disclosures against the TCFD recommendations.
77 million tCO2e of avoided emissions is equivalent to:
Sustainability Affiliations and Partnerships
Integrating Sustainability Considerations Into Our Investment Process
Sustainability is embedded throughout our investment process, starting with the initial due diligence through to the exit of the investment. Below is a summary of how we integrate Sustainability factors.
- We tailor Sustainability due diligence to each investment and follow a structured approach, leveraging relevant industry frameworks.
- Proactively identify material Sustainability risks and opportunities relevant to the potential investment
- Leverage our investment and operating expertise and utilize industry-specific guidelines that incorporate SASB guidance
- Perform deeper due diligence if required, utilizing internal experts and third-party consultants as needed
- All potential investments must incorporate Sustainability matters into their evaluation and be approved by the Investment Committee.
- Investment teams provide the Committee with a detailed memorandum
- The Investment Committee memorandum outlines the merits of the transaction and material risks, mitigants and significant opportunities for improvement, including those related to Sustainability
- Material Sustainability factors may include bribery and corruption risks, health and safety risks and environmental and social risks
- Upon company acquisition, we create a tailored integration plan and ensure Sustainability risks and opportunities are actively managed.
- As part of each acquisition, investment teams create tailored integration plans that include material Sustainability-related matters for review or execution
- Brookfield actively looks to advance Sustainability initiatives and improve Sustainability performance to drive long-term value creation, as well as to manage any associated risks
- It is the responsibility of the management teams within each portfolio company to manage Sustainability risks and opportunities through the investment’s life cycle, supported by the investment team responsible for the investment
- As part of our divestiture plan, we prepare robust business plans outlining potential value creation from several different factors, including Sustainability considerations
- We also prepare both qualitative and quantitative data that summarize the Sustainability performance of the investment and provide a holistic understanding of how Brookfield has managed the investment during the holding period
Power generation from our portfolio and development pipeline (once completed) will help avoid approximately 56 million tonnes of CO2 emissions annually.
Our Commitment to the UN Sustainable Development Goals
In recognition of the significance of the United Nation’s leadership in this critical endeavour, we have aligned our Sustainability disclosures with the SDGs. We believe the there are six SDGs that our business contributes to the most, with the biggest impact being tied to SDGs 7 and 13.
According to the United Nations, the 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. At its heart are the 17 SDGs, which are an urgent call for action by all countries– developed and developing– in a global partnership. They recognize that ending poverty and other deprivations must go hand-in-hand with strategies that improve health and education, reduce inequality, and spur economic growth– all while tackling climate change and working to preserve our oceans and forests.
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*This information is for Brookfield Renewable inclusive of the assets and operations of both Brookfield Renewable Corporation and Brookfield Renewable Partners.