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Hydro One's 2024 Sustainability Report: A Vision for a Brighter Future

Hydro One Limited, Ontario's leading electricity transmission and distribution provider, has recently published its 2024 Sustainability Report titled "A Better and Brighter Future for All." The report outlines the company's performance across various environmental, social, and governance (ESG) metrics for the year ending December 31, 2024. The primary goal of this report is to reflect Hydro One's commitment to strategic and sustainable growth, ensuring that it meets the evolving energy needs of Ontarians.

Insights into Ontario's Energy Landscape

Megan Telford, the Executive Vice President for Strategy and Energy Transition, expressed excitement about the current energy landscape in Ontario. The focus on rapid energization, the development of a growing economy, and the increasing energy demands of residents are at the forefront of Hydro One’s strategy. The report emphasizes how the company's updated vision is aligned with sustainability efforts, providing a roadmap for growth and resilience that ultimately supports the communities it serves.

Key Highlights of the 2024 Report

The 2024 Sustainability Report features several noteworthy achievements:

• - Electric Vehicle & Hybrid Adoption: Hydro One reported that approximately 44% of its sedans and SUVs were converted to electric vehicles (EVs) or hybrids. This initiative not only supports environmental goals but also demonstrates the company's commitment to modern transportation solutions.
• - Indigenous Partnerships: The report proudly indicates that around 5.5% of the company's total sourceable spending was directed toward Indigenous businesses and materials. This surpasses Hydro One's goal of 5% set for 2026, showcasing its dedication to fostering meaningful collaborations with Indigenous communities.
• - Biodiversity Initiatives: In an effort to enhance local ecosystems, Hydro One has successfully established approximately 62 hectares of pollinator habitats. This is crucial for supporting biodiversity and sustaining the environment in which the company operates.
• - Community and Indigenous Engagement: The development of the Wawa Timmins Power Line was carried out with support from a majority of affected First Nations, highlighting Hydro One’s commitment to inclusivity and collaboration.
• - Workplace Safety: The company is proud to announce that it achieved zero fatalities in the workplace, with a total recordable injury rate of just 0.55. This emphasizes Hydro One's prioritization of employee safety and well-being.

Commitment to Community Investment

Hydro One is dedicated not only to providing reliable electricity but also to actively investing in the communities where its employees live and work. The company contributed significantly to the economy through its procurement activities, supporting local businesses by spending approximately $2.9 billion on goods and services. In 2024 alone, Hydro One invested upwards of $3.1 billion in its transmission and distribution networks to enhance infrastructure and service reliability.

Looking Ahead

As Hydro One moves forward, it remains committed to environmental sustainability, community engagement, and diversity initiatives. With approximately 10,100 skilled employees and a customer base of 1.5 million, the company recognizes its pivotal role in shaping the energy future of Ontario. The sustainability report serves as a testament to Hydro One's ongoing efforts to drive positive change and foster a resilient power grid that benefits all Ontarians.

For further details regarding Hydro One’s sustainability practices, policies, and future plans, the full report is accessible online. Hydro One Limited continues to engage actively with stakeholders, ensuring transparency and accountability as it navigates the path towards sustainable development in the energy sector.