UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2021
Commission File Number: 001-35563
PEMBINA PIPELINE CORPORATION
(Name of registrant)
(Room #39-095) 4000, 585 8th Avenue S.W.
Calgary, Alberta T2P 1G1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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PEMBINA PIPELINE CORPORATION |
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Date: October 20, 2021 |
By: |
/s/ Scott Burrows |
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Name: Scott Burrows |
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Title: Senior Vice President and Chief Financial Officer |
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Form
6-K Exhibit Index
Exhibit
99.1
Pembina Pipeline
Corporation Announces GHG Reduction Target and Releases Annual Sustainability Data Update
CALGARY, AB, Oct. 20,
2021 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) is pleased
to announce its commitment to reduce the Company's greenhouse gas ("GHG") emissions intensity by 30 percent by
2030, relative to baseline 2019 emissions. The GHG reduction target will help guide business decisions and improve overall emissions
intensity performance while increasing Pembina's long-term value and ensuring Canadian energy is developed and delivered responsibly.
"Pembina has never
been one to shy away from a challenge. As the world around us continues to evolve, Pembina is embracing the opportunity to adapt, respond
and contribute to a more sustainable future," said Mick Dilger, Pembina's President and Chief Executive Officer. "The meaningful
target we have announced today is supported by a solid foundation of baseline emissions data that will drive accurate and consistent
reporting across the organization moving forward," added Mr. Dilger.
To meet the 2030 GHG emissions
intensity target, Pembina will focus initially on operational opportunities, greater use of renewable and lower emission energy sources,
and investments in a lower carbon economy.
Operational opportunities
Pembina is pursuing initiatives
that will lower both emissions and operating costs. Through a lens of continuous improvement, the Company is taking further steps to
reduce its environmental footprint while utilizing its assets more efficiently. Operational contributions to the achievement of
Pembina's target will include:
| • | Optimizing
pipeline capacity and operations; |
| • | Constructing
cogeneration facilities at the Empress NGL Extraction Facility and Duvernay Complex, as well
as additional potential cogeneration projects at other facilities; |
| • | Modernizing
and optimizing compression facilities to reduce the amount of energy consumed; |
| • | Enhancing
leak detection and repair programs at facilities; and |
| • | Reducing
flaring and venting. |
Renewable energy and
investing in a lower carbon economy
Pembina has a long history
of evolving its business to meet our stakeholders' needs. The energy evolution to a lower carbon economy will create new opportunities
for Pembina and its stakeholders. Pembina has recently announced new initiatives, and is actively exploring others, that represent
fundamentally strong business opportunities and at the same time will contribute to the achievement of its GHG emissions reduction target
including:
| • | Increasing
the use of renewable energy through efforts such as Pembina's recently announced power purchase
agreement with TransAlta on the Garden Plain Wind Power Project, as well as other potential
renewable power purchase agreements across Pembina's business; |
| • | Developing
the Alberta Carbon Grid, which will allow Pembina to play a vital role in helping Alberta-based
industries effectively manage emissions and contribute positively to a lower-carbon economy;
and |
| • | Evaluating
pilot projects for carbon capture and storage at Pembina's gas processing and fractionation
facilities. |
Sustainability Data
Update
Pembina publishes a full-length
sustainability report on a biennial basis and in interim years provides an update of its environmental, social and governance ("ESG")
performance metrics on its website. The Company's 2020 Sustainability Report, which was released in December 2020, included ESG performance
data for the years 2017-2019. Today, Pembina released ESG performance data for 2020, highlights from which include:
| • | Pembina
continued to deliver a safety record that exceeded the industry average, with a Total Recordable
Injury Frequency that was more than 30 percent lower than the industry average; and |
| • | Pembina
invested over $9 million within communities where it operates and maintained all pre-pandemic
community investment commitments. Through Pembina's Community Investment Program, it partners
with non-profit and charitable organizations to provide financial and in-kind support and
engage employees to support communities through its volunteering and donation matching program. |
For additional information
on Pembina's ESG performance, please refer to the sustainability performance tables available on Pembina's website at www.pembina.com/sustainability/.
Over the past few years,
in addition to significantly enhancing its disclosure, Pembina has actively advanced its overall ESG strategy by integrating sustainability
within its long-term business planning and further embedding sustainability into its organizational structure and corporate policies
and practices. Recent highlights from Pembina's ESG journey include:
| • | Incorporated
ESG performance into incentive compensation for all employees; |
| • | Obtained
independent third-party limited assurance of Pembina's 2020 Scope 1 and Scope 2 GHG emissions;
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| • | Completed
its inaugural Carbon Disclosure Project submission; |
| • | Implemented
a fugitive methane leak detection and repair (LDAR) program at all Canadian natural gas processing,
natural gas pipeline transportation and handling operations. This program aims to reduce
methane emissions by at least 40 percent from 2012 levels by 2025; |
| • | Amended
the Company's Code of Ethics to include Human Rights; adopted a new Anti-bribery Policy and
Community Relations Policy; and updated its Indigenous and Tribal Relations Policy; |
| • | Continued
to advance Pembina's Equity, Inclusion and Diversity strategy: |
| • | Increased
board diversity, with women now representing 36 percent of Pembina's Board of Directors;
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| • | Enhanced
diversity at the executive level, including the appointment of a female member to the senior
executive team. Currently, over 20 percent of Pembina's executive team identify as female;
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| • | Established
inclusion networks for women and LGBTQ2S+ to further support an inclusive and diverse workplace;
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| • | Launched
the 'Conversations for Change' series, which featured a variety of panels where employees
shared their experiences with a focus on gender, Indigenous culture and reconciliation, mental
health, and LGBTQ2S+ pride; and |
| • | Continued
developing equity, diversity and inclusion targets that will be announced later this year. |
| • | Announced
transformational Indigenous-led partnerships on two significant projects: |
| • | Partnering
with the Haisla Nation to develop the proposed Cedar LNG Project, the largest First Nation-
owned infrastructure project in Canada with one of the cleanest environmental profiles in
the world; and |
| • | Formation
of Chinook Pathways, a partnership with Western Indigenous Pipeline Group to pursue ownership
of the Trans Mountain Pipeline, following completion of the construction of the Trans Mountain
Expansion project. |
| • | Pembina
has successfully improved or maintained ESG scores and or rankings on the following globally
recognized rating agencies: Sustainalytics ESG Rating; MSCI ESG Ratings; ISS Quality Score. |
Looking forward, a dedicated
ESG team has been formed and will play an important role in further advancing Pembina's ESG journey. In 2022, Pembina will continue to
make progress towards aligning its disclosure with the Task Force on Climate-related Financial Disclosure (TCFD) reporting framework
while continuing to explore additional opportunities to quantify and analyze climate-related risks and opportunities, and industry best
practices.
For more information on
Pembina's ESG strategy and performance, please visit Pembina's Website.
About Pembina
Pembina is a leading transportation
and midstream service provider that has been serving North America's energy industry for more than 65 years. Pembina owns an
integrated system of pipelines that transport various hydrocarbon liquids and natural gas products produced primarily in western Canada.
The Company also owns gas gathering and processing facilities; an oil and natural gas liquids infrastructure and logistics business;
and is growing an export terminals business. Pembina's integrated assets and commercial operations along the majority of the hydrocarbon
value chain allow it to offer a full spectrum of midstream and marketing services to the energy sector. Pembina is committed to identifying
additional opportunities to connect hydrocarbon production to new demand locations through the development of infrastructure that would
extend Pembina's service offering even further along the hydrocarbon value chain. These new developments will contribute to ensuring
that hydrocarbons produced in the Western Canadian Sedimentary Basin and the other basins where Pembina operates can reach the highest
value markets throughout the world.
Purpose of Pembina:
To be the leader in delivering
integrated infrastructure solutions connecting global markets:
| • | Customers
choose us first for reliable and value-added services; |
| • | Investors
receive sustainable industry-leading total returns; |
| • | Employees
say we are the 'employer of choice' and value our safe, respectful, collaborative and
fair work culture; and |
| • | Communities
welcome us and recognize the net positive impact of our social and environmental commitment. |
Pembina is structured
into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division.
Pembina's common shares
trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com.
Forward-Looking
Information and Statements
This news release contains
certain forward-looking information and statements (collectively, "forward-looking statements") that are based on Pembina's
current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this
news release, such forward-looking statements can be identified by terminology such as "should", "may", "will",
"continue", "if", "to be", "expects", and similar expressions suggesting future events or
future performance.
In particular, this
news release contains forward-looking statements relating to plans, targets and strategies with respect to GHG emissions; intended outcomes
as a result of Pembina's GHG emission intensity reduction target; plans and strategies to improve Pembina's ESG performance;
and the impact the GHG emission intensity reduction target is expected to have on Pembina's business. These forward-looking statements
are being made by Pembina based on certain assumptions that Pembina has made in respect thereof as at the date of this news release,
regarding, among other things: that current technologies are sufficient to achieve reductions in GHG emissions targets; the ability of
Pembina and any required third parties to effectively engage with stakeholders; oil and gas industry exploration and development activity
levels; the success of Pembina's operations and growth projects; the availability of individuals with the skills required for Pembina's business
and in the geographic locations in which Pembina operates necessary to achieve Pembina's GHG reduction target by 2030; broad compliance
with Pembina's plans, strategies, programs and goals across the reporting and monitoring systems among its employees, stakeholders
and service providers; the continued availability of capital at attractive prices to fund future capital requirements relating to existing
assets and projects; the availability of data, samples and information necessary to develop and evaluate targets, goals, programs and
strategies; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events
preventing the performance of contracts; that there are no unforeseen material construction, integrity or other costs related to current
growth projects or current operations; prevailing regulatory, tax, and environmental laws and regulations; and the availability of coverage
under Pembina's insurance policies.
While Pembina believes
the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof,
there can be no assurance that these expectations, factors and assumptions will prove to be correct. Readers are cautioned that events
or circumstances could cause actual results to differ materially from those predicted, forecasted or projected. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions,
forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and financial results
in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking
statements. These known and unknown risks and uncertainties, include, but are not limited to: the regulatory environment and decisions;
the ability of Pembina to raise sufficient capital (or to raise sufficient capital on favourable terms) to fund future expansions and
growth projects and satisfy future commitments; failure to negotiate and conclude any required commercial agreements or failure to obtain
project sanctioning; increased construction costs, or construction delays, on Pembina's expansion and growth projects; labour and material
shortages; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into
in respect of its business; reliance on key industry partners, alliances and agreements; the strength and operations of the oil and natural
gas production industry and related commodity prices; the continuation or completion of third-party projects; actions by governmental
or regulatory authorities including changes in tax laws and treatment, changes in royalty rates, climate change initiatives or policies
or increased environmental regulation; adverse general economic and market conditions in Canada, North America and worldwide, including
changes, or prolonged weaknesses, as applicable, in interest rates, foreign currency exchange rates, commodity prices, supply/demand
trends and overall industry activity levels; risks relating to widespread epidemics or pandemic outbreaks, including risks relating to
the duration, geographic scope and severity of the COVID-19 pandemic; the extent to which the COVID-19 pandemic continues to impact the
global economy and cause, directly or indirectly, a decline in commodity prices; the extent, timing and sustainability of economic recovery
in relation to the COVID-19 pandemic; changes in credit ratings; counterparty credit risk; technology and cyber security risks; and certain
other risks detailed from time to time in Pembina's public disclosure documents including, among other things, those detailed under the
heading "Risk Factors" in Pembina's management's discussion and analysis and annual information form, each for the year ended
December 31, 2020, and Pembina's management's discussion and analysis dated August 5, 2021 for the three and six months' ended June 30,
2021, which can all be found at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov and are also
available on Pembina's website at www.pembina.com.
The forward-looking
statements are expressly qualified by the above statements and speak only as of the date of this document. Pembina does not undertake
any obligation to publicly update or revise any forward-looking statements contained herein, except as required by applicable laws. The
forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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%CIK: 0001546066
For further information: Investor Relations:
Scott Arnold, (403) 231-3156, 1-855-880-7404, e-mail: investor-relations@pembina.com, www.pembina.com
CO: Pembina Pipeline Corporation
CNW 07:30e 20-OCT-21
This regulatory filing also includes additional resources:
ex991.pdf
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