Enbridge publishes sustainability-linked bond framework

By Wendy Van Sickle

Columbus, Ohio, June 17 – Enbridge Inc. said it published the first sustainability-linked bond framework in the North American midstream sector, which links its environment, social and governance goals to its funding strategy.

Enbridge’s ESG goals include achieving net-zero greenhouse gas emissions by 2050 and increasing diversity from racial and ethnic groups throughout the company's workforce, including senior management and the board of directors, according to a news release.

The framework lays out the principles Enbridge would use in connection with an issuance of sustainability-linked bonds and includes performance indicators that impact the company's borrowing costs.

Performance indicators associated with the company's ESG goals will be published and verified annually by an independent auditor. The performance indicators include the company's progress on reducing by 35% the intensity of its scope 1 and 2 GHG emissions by 2030, as well as its progress on achieving 28% representation of racial and ethnic groups in its workforce, 40% gender diversity across the organization and 40% representation of women on its board of directors by 2025.

The oil and gas distribution and transportation company is based in Calgary, Alta.

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