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SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2021-05-14 C$ 32.17
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SNC-Lavalin hopes to reach net-zero emissions by 2030

2021-05-14 09:45 ET - News Release

Mr. Ian Edwards reports

SNC-LAVALIN ENHANCES ESG TARGETS, COMMITS TO NET ZERO CARBON BY 2030 WITH LAUNCH OF 'OUR VISION FOR ENGINEERING A SUSTAINABLE SOCIETY'

SNC-Lavalin Group Inc. has launched "Our vision for engineering a sustainable society," containing environmental, social and governance (ESG) targets and commitments for the company's corporate activities.

These targets are aligned with the company's membership in the United Nations (UN) Global Compact. A priority within the targets is achieving net-zero carbon emissions and SNC-Lavalin today announces its route map to achieving net-zero carbon emissions by 2030 across corporate activities,

"Setting clear environmental, social and governance targets is a call to action for our whole organization and will be integral to how we provide solutions to our clients. We are a proud and committed signatory to the UN Global Compact and have enhanced our ESG framework to meet those commitments and do what we can as a responsible company to contribute to a sustainable future," said Ian L. Edwards, president and chief executive officer of SNC-Lavalin Group.

"As part of that effort, we have set an important target to achieve net-zero carbon emissions by 2030. We have designed a route map that clearly defines how we will achieve this and the immediate actions that we will be taking to reduce emissions from our own activities. As a leader in the design and delivery of the built environment, we have a unique opportunity to make an impact as a company and work in partnership with our clients to tackle the challenges the world faces," he added.

SNC-Lavalin's net-zero carbon 2030 route map -- immediate actions to combat climate change

SNC-Lavalin has published its net-zero carbon route map, which outlines how the company will achieve net-zero carbon emissions from corporate activities by the end of 2030. Key actions include:

  • Setting annual targets, which are verified by third parties, with updates published externally each year through CDP (Carbon Disclosure Project) reporting;
  • Committing to reducing Scope 1, Scope 2 and Scope 3 GHG (greenhouse gas) emissions by 60 per cent by 2025 from 2019 as a baseline year;
  • Prioritizing low-carbon real estate;
  • New travel policy aimed at lowering travel and offsetting carbon emissions;
  • Behavioural change across the company's operations to increase digitalization;
  • Electric vehicle leasing/rental with the company's global travel providers;
  • Energy purchase contracts prioritizing low-carbon and zero-carbon energy sources;
  • External verification of quantitative targets;
  • Interim targets on the path to 2030;
  • In addition to the company's own actions around combatting climate change, SNC-Lavalin has launched the Engineering Net Zero website to provide solutions to clients, prioritizing clean and affordable energy solutions and developing sustainable infrastructure, transport and cities:
    • SNC-Lavalin has already issued two pivotal reports on the Engineering Net Zero website for Canada and the United Kingdom. These reports outline key changes that need to be made in engineering and designing the world.
    • The reports and goals can be found on the Engineering Net Zero website.

Key ESG targets and commitments to align with SNC-Lavalin's commitment to the UN Global Compact

In addition to achieving net-zero carbon emissions by 2030, SNC-Lavalin has identified those areas where the company can make the most material impact and contribution to society. It is enhancing its framework in areas such as ED&I (equity, diversity and inclusion), improving health and well-being, human rights, alongside maintaining the high standards of integrity the company has achieved and taking climate action beyond net zero. Highlights include:

  • Equality, diversity and inclusion: SNC-Lavalin believes that greater diversity benefits everyone. For the company, it will further strengthen its talent pool, enabling it to better serve clients and achieve business objectives. The targets announced today include increasing the representation of women in leadership to 25 per cent by 2025 and across the organization to 33 per cent by 2025, with a commitment from the board to maintain at least 30-per-cent representation by women.
  • Integrity and governance: Over the past decade, SNC-Lavalin has had a sustained commitment to the integration of integrity best practices and continues to strive to improve its program as new practices develop. SNC-Lavalin's integrity program aims to prevent, detect and respond to the risk of wrongdoing. It aligns with the principles of international organizations such as Transparency International, the Organisation for Economic Co-operation and Development, the United UN Compact and the World Bank, as well as the U.S. Department of Justice resource guide to the U.S. Foreign Corrupt Practices Act.

SNC-Lavalin's 12 ESG areas where the organization can have the most impact are shown in the attached table.

About SNC-Lavalin Group Inc.

Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world. SNC-Lavalin connects people, technology and data to help shape and deliver world-leading concepts and projects while offering comprehensive innovative solutions across the asset life cycle. The company's expertise is wide ranging -- consulting and advisory; intelligent networks and cybersecurity; design and engineering, procurement, project and construction management; operations and maintenance; decommissioning; and sustaining capital -- and delivered to clients in four strategic sectors: EDPM (engineering, design and project management), infrastructure, nuclear and resources, supported by capital. People. Drive. Results.

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