GlobalData offers a comprehensive analysis of Boralex, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Boralex‘s ESG performance. GlobalData’s company profile on Boralex offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Boralex, a renewable energy company, has committed to becoming a leading corporate social responsibility (CSR) reference for its partners. The company has set target to reduce thier carbon emissions by 50% by 2030 and become carbon neutral by 2050. In 2022, the company’s Scope 1 emissions amounted to 1,215 tonnes of carbon dioxide equivalent, Scope 2 emissions amounted to 2,811 tonnes of carbon dioxide equivalent, and Scope 3 emissions amounted to 115,409 tonnes of carbon dioxide equivalent. The company has set targets for CO2 emissions reduction through renewable energy generation. As a part of the company’s strategic plan, it avoided 354,442 tonnes of CO2 emissions in 2022. Further, Boralex aims to achieve the target to avoid 781,773 tonnes of CO2 emissions by 2025. Boralex does not manufacture solar or wind power equipment, but it is dedicated to promoting responsible ESG practices across its supply chain. Boralex’s latest filings mentioned the keywords ‘Emissions’ and ‘Renewable Energy’ most number of times in relation to ‘Climate Change’.
Boralex's total installed capacity by energy source and country is 2,032 MW (82%) for wind, 244 MW (10%) for solar, 181 MW (7%) for hydro, and 35 MW (1%) for thermal. The company generated 6,215 GWh of renewable energy in 2021. Boralex has taken steps to reduce its GHG emissions, including quantifying its scope 1, 2, and 3 emissions annually and reporting them in its CDP disclosure questionnaire. The company has also factored physical risks related to climate change into its business decisions and leveraged renewable energy production to reach its target of 781,773 tonnes of CO2 emissions avoided by 2025.
Boralex has implemented reduction, reuse, recycling, and energy recovery initiatives to use resources responsibly. The company has also set a goal to increase the proportion of its fleet that is electric, hybrid, or low consumption (<5L/100KM) vehicles. In addition, Boralex has implemented bonus pay for using sustainable transport, such as bicycles, public transport, and walking in North America.
In conclusion, Boralex has committed to aligning with evolving reporting frameworks, specifically by implementing the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The company has also collaborated with the Carbon Disclosure Project (CDP) to set emissions reduction targets. Boralex's commitment to reducing GHG emissions and promoting responsible ESG practices across its supply chain demonstrates its dedication to achieving its net-zero targets.
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