{"id":16025,"date":"2018-03-13T15:00:40","date_gmt":"2018-03-13T15:00:40","guid":{"rendered":"http:\/\/www.aequo.ca\/?p=16025\/"},"modified":"2025-01-30T11:22:45","modified_gmt":"2025-01-30T16:22:45","slug":"transcanada-to-disclose-its-energy-transition-strategy-following-request-by-quebec-shareholders","status":"publish","type":"post","link":"https:\/\/aequo.ca\/en\/transcanada-to-disclose-its-energy-transition-strategy-following-request-by-quebec-shareholders\/","title":{"rendered":"TransCanada to Disclose its Energy Transition Strategy Following Request by Quebec Shareholders"},"content":{"rendered":"

Press release and Globe and Mail article<\/a> of March 13, 2018: \u00a0\u00c6quo is proud to have been directly involved in a shareholder proposal encouraging Alberta energy infrastructure company TransCanada to better communicate its consideration of climate change and energy transition risks.<\/p>\n

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PRESS RELEASE<\/p>\n

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With the support of \u00c6quo, a shareholder engagement firm in Montreal<\/p>\n

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TransCanada to disclose its energy transition strategy following request by Quebec shareholders<\/strong><\/p>\n

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MONTREAL, March 13, 2018 \u2013 \u00c6quo, a shareholder engagement firm in Montreal, is proud to have been directly involved in a proposal encouraging Alberta energy infrastructure company TransCanada to better communicate its consideration of climate change and energy transition risks.<\/p>\n

With \u00c6quo\u2019s support, the proposal was submitted by two shareholders from Quebec: the\u00a0Sisters of Notre-Dame Congregation and the Procure Saint-Fran\u00e7ois-d\u2019Assise (the\u00a0Capuchins).The proposal will be recommended to shareholders for adoption by the\u00a0company\u2019s Board of Directors at TransCanada\u2019s Annual General Meeting in Calgary on April 27th.<\/p>\n

“It\u2019s rare for a board of directors to recommend voting in favour of a proposal submitted to the company by an outside shareholder,” explains Fran\u00e7ois Meloche, Director of Corporate Engagement at \u00c6quo. “This seems to indicate TransCanada\u2019s willingness to publicly demonstrate its commitment to increasing the quality of disclosures regarding its management of climate risks.”<\/p>\n

The proposal requires the company to report on how it is assessing long-term risks and opportunities in relation to climate change and the current transition to a low-carbon economy. Such reporting should provide an analysis of the resilience of TransCanada\u2019s business model in various scenarios.<\/p>\n

According to M. Meloche: “This reporting would include a \u201c2 degree scenario\u201d in line with the Paris agreement, including stricter climate regulations, a higher price for carbon emissions, and a reduction in fossil fuel demand.”<\/p>\n

While many oil companies in the U.S. and EU have made this kind of analysis public in the past year, few in the Canadian energy sector have followed suit.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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“We expect TransCanada\u2019s report will be an excellent source of information for investors wishing to know the company\u2019s long-term strategy for continuing to create value in an economy that is seeing a complete energy transition,” said Mr. Meloche, who will be presenting the proposal himself at the annual meeting in April. “We hope to pursue a constructive dialogue with TransCanada throughout the process.”<\/p>\n

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\u00c6quo \u2013 Shareholder Engagement Services Inc. offers responsible investment services and carries out dialogues with a number of Canadian and American companies on behalf of institutional investors. \u00c6quo was founded by B\u00e2tirente \u2013 CSN members\u2019 pension plan, and the Regroupement pour la responsabilit\u00e9 sociale des entreprises (RRSE), an association of religious communities.<\/p>\n

Source: \u00c6quo – www.aequo.ca<\/a><\/p>\n

For more information, please contact Jean-Philippe Renaut, CEO, \u00c6quo. 514 409-7779 or jprenaut@aequo.ca<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n\n