MONTRÉAL, Jan. 25,
2023 /CNW/ - Cogeco (TSX: CGO) is pleased to present
its second Climate Action Plan and Task Force on
Climate-Related Disclosures (TCFD) report outlining the key
steps the company is taking in support of urgent climate action, as
well as its processes and strategies to assess and manage
climate-related risks and opportunities. This plan serves to
facilitate access to all the information related to Cogeco's
climate change strategy, report on our progress as well as on our
journey to become a sustainable business in a 1.5°C world.
Cogeco remains committed to supporting the transition to a low
carbon economy while ensuring that the effects of climate change
are systematically considered and integrated into its business
strategy and related decisions.
"As a leading provider of connectivity services and radio
broadcaster, we feel a deep sense of responsibility towards our
various stakeholders to create the most resilient and sustainable
business we can. While our industry's environmental footprint is
arguably smaller than many others, Cogeco remains determined to
demonstrate strong leadership on climate action," said Philippe
Jetté, President and Chief Executive Officer of Cogeco.
Taking actions now for a better
future
Reflecting Cogeco's commitment to sustainability, in addition to
its SBTi (Science-based target initiative) approved near-term
targets, it has further committed to achieving a long-term target
of net-zero emissions across its entire value chain by 2050. It has
also transitioned Cogeco's and Cogeco Communications' term
revolving facilities into a sustainability-linked loan structure.
These were the first syndicated sustainability-linked loans in
Canada in the telecommunications
and media sectors. They incorporate incentive pricing terms linked
to Cogeco's annual GHG emission reduction targets and its digital
inclusion initiative to bring high-speed Internet access to
households in unserved and underserved areas of Canada. To further underscore its commitment,
Cogeco has also linked a portion of the variable compensation of
its executives and other leaders to the achievement of its
emissions reduction targets.
ABOUT COGECO INC.
Rooted in the communities it serves, Cogeco Inc. is a growing
competitive force in the North American telecommunications and
media sectors with a legacy of more than 65 years. Through its
business units Cogeco Connexion and Breezeline (formerly Atlantic
Broadband), Cogeco provides Internet, video and phone services to
1.6 million residential and business customers in Québec and
Ontario in Canada as well as in thirteen states in
the United States. Through Cogeco
Media, it owns and operates 21 radio stations primarily in the
province of Québec as well as a news agency. Cogeco's subordinate
voting shares are listed on the Toronto Stock Exchange (TSX: CGO).
The subordinate voting shares of Cogeco Communications Inc. are
also listed on the Toronto Stock Exchange (TSX: CCA).
SOURCE Cogeco Inc.