TORONTO, Oct. 20,
2023 /CNW/ - Today, Hydro One joined a select group
of Canadian companies and was recognized by the Canadian Council
for Aboriginal Business (CCAB) for its commitment to building
lasting, strong and mutually beneficial relationships with
Indigenous communities. The company advanced from its Silver level
certification in 2020 to a Gold level recognition this year by the
CCAB in Progressive Aboriginal Relations (PAR). The PAR Jury
commended Hydro One's participation in the Indigenous community,
calling it a best-practices organization in the field of Indigenous
relations. Hydro One's emphasis on economic Reconciliation through
its 50-50 equity partnership model and building lasting
partnerships with Indigenous communities has been instrumental in
achieving the Gold level certification.
"I admire the dedication of Hydro One to further economic growth
and opportunities for Indigenous business," said Tabatha Bull, President and CEO, Canadian
Council for Aboriginal Business. "We have awarded Gold status to
fewer than 25 companies in Canada,
and with a Gold status achievement, companies like Hydro One are
role models for their approach in Indigenous relations."
"Hydro One is proud to be recognized as a Gold level
organization in Indigenous Relations and a trusted partner in
advancing Reconciliation. At Hydro One we are focused on building
partnerships based on understanding, respect and trust,"
said David Lebeter, President and CEO, Hydro One. "We will
continue listening to and learning from Indigenous communities and
know that together, we can build a better and brighter future for
all."
As part of its commitment to building lasting, strong and
mutually beneficial relationships with Indigenous communities,
Hydro One has:
- Launched its new Equity Partnership Model, through which First
Nations communities can invest in 50 per cent of equity in new,
future large-scale capital transmission line component of projects
(> $100 million).
- In 2022, the company increased its purchases from Indigenous
business by procuring $95.9M of goods
and services.
- Allocated at least 20 per cent of corporate donations and
sponsorships to Indigenous causes and communities.
- Provided educational and training opportunities to Indigenous
youth.
- Collaborated with Indigenous communities on projects that
provide long-term community benefits.
The PAR Program provides a high level of assurance through the
independent, third-party verification of company reports on
measurable outcomes and initiatives in four performance areas:
Leadership Actions, Employment, Business Development, and Community
Relationships. These verified reports are then reviewed by an
independent jury of Indigenous business representatives who assign
the final certification level. As part of the PAR Program,
companies must recertify every three years.
More details of Hydro One's sustainability priorities and
achievements can be found
at: www.hydroone.com/sustainability
Hydro One Limited (TSX:
H)
Hydro One Limited, through its wholly-owned subsidiaries, is
Ontario's largest electricity
transmission and distribution provider with approximately 1.5
million valued customers, approximately $31.5 billion in assets as at December 31, 2022, and annual revenues in 2022 of
approximately $7.8 billion.
Our team of approximately 9,300 skilled and dedicated employees
proudly build and maintain a safe and reliable electricity system
which is essential to supporting strong and successful communities.
In 2022, Hydro One invested approximately $2.1 billion in its transmission and distribution
networks, and supported the economy through buying approximately
$1.9 billion of goods and
services.
We are committed to the communities where we live and work
through community investment, sustainability and diversity
initiatives. We are designated as a Sustainable Electricity Leader™
by Electricity Canada.
Hydro One Limited's common shares are listed on the TSX and
certain of Hydro One Inc.'s medium term notes are listed on the
NYSE. Additional information can be accessed at www.hydroone.com,
www.sedearplus.com or www.sec.gov.
Forward-Looking Statements and Information:
This press
release and the application and investment plan to which it refers
may contain "forward-looking information" within the meaning of
applicable securities laws. Words such as "expect", "anticipate",
"intend", "attempt", "may", "plan", "will", "can", "believe",
"seek", "estimate", and variations of such words and similar
expressions are intended to identify such forward-looking
information. These statements are not guarantees of future
performance or actions and involve assumptions and risks and
uncertainties that are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed,
implied or forecasted in such forward-looking information. Some of
the factors that could cause actual results or outcomes to differ
materially from the results expressed, implied or forecasted by
such forward-looking information, including some of the assumptions
used in making such statements, are discussed more fully in Hydro
One's filings with the securities regulatory authorities
in Canada, which are available on SEDAR+
at www.sedarplus.com. Hydro One does not intend, and it
disclaims any obligation, to update any forward-looking
information, except as required by law.
SOURCE Hydro One Inc.