OPG releases its first Integrated ESG and Annual Report, highlighting 2023 performance
At a glance
- New report captures the company’s environmental, social, and governance (ESG), financial, and operational performance in 2023.
- Combining previous ESG and Annual Reports reflects integration of ESG into OPG’s business objectives.
- Highlights include progress on climate change actions, Reconciliation Action Plan, and efforts to build an equitable, diverse, and inclusive company.
OPG has released its first Integrated ESG and Annual Report, which highlights the company’s overall 2023 performance.
The change in reporting approach reflects the integration of ESG considerations into OPG’s business objectives and brings together the company’s reporting on financial and non-financial performance into one document.
The Integrated Report captures the progress OPG has made toward its financial, operational, and sustainability goals in 2023, including updates on the company’s climate change initiatives, Reconciliation Action Plan (RAP), and efforts to become a more equitable, diverse, and inclusive company.
Take an immersive dive into the report’s highlights and download the full report here.
“ESG goes to the core of what OPG does: to build a sustainable future powered by our electricity, ideas, and people,” said Carlton Mathias, OPG’s Chief Legal, ESG & Governance Officer. “We know we can’t get there without careful attention to our environmental and social impact and the way we are governed. As Ontario’s largest clean power generator, OPG is investing now in new and existing low-carbon assets to help build a stronger, prosperous, and sustainable Ontario.”
As Ontario’s largest clean power generator, OPG is investing now in new and existing low-carbon assets to help build a stronger, prosperous, and sustainable Ontario.Carlton MathiasOPG’s Chief Legal, ESG & Governance Officer
In 2023, OPG continued to make advancements in building and refurbishing low-carbon generation to meet a growing economy and demands from electrification. The company also recorded strong financial and operational performance.
“OPG and its employees demonstrated again why we remain Ontario’s largest clean power producer as we generated affordable, reliable power in a safe and sustainable manner, while delivering great value for Ontario,” said Aida Cipolla, OPG’s Chief Financial Officer. “We are staying focused to advance all of our major projects and lay the groundwork for our electrified, net-zero future.”
Highlights of OPG’s 2023 performance include:
- Delivered $1,741 million in net income attributable to the Shareholder, the Province of Ontario.
- Generated 80.9 terawatt-hours of electricity.
- Returned to service Unit 3 of the Darlington Refurbishment, 169 days ahead of schedule.
- Completed an updated feasibility assessment for refurbishing Units 5 to 8 at the Pickering Nuclear Generating Station and, in January 2024, received support from the Province of Ontario for OPG to proceed with next steps.
- Progressed our work on Small Modular Reactors, hydroelectric facilities, green hydrogen, energy storage, and electrification infrastructure projects. These initiatives will help power the growing demands of a clean economy while providing jobs and economic growth.
- Named one of Canada’s Best Diversity Employers for 2023 by Mediacorp Inc.
- Demonstrated industry-leading safety performance across our operations and projects.
- Advanced our RAP, which has delivered about $237 million in economic benefits to Indigenous communities and businesses since 2021.
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