Managing the energy transition
For TC Energy, Sustainability is about meeting today’s energy needs—safely, reliably and economically—while finding responsible solutions for our future energy. As a leader within the energy infrastructure sector, we understand our responsibility in supporting innovative and global solutions towards reliable and affordable energy. Find out more at tcenergy.com/sustainability
What does it mean for TC Energy given the growing global demand for other forms of energy?
The world will need all forms of energy in the future to support our growing global population and the continued advancement of human prosperity. TC Energy is well positioned to provide the necessary energy, in various forms, to support North American demand. Even during these challenging times, we understand how essential our business is to the wellbeing of our society. Whether it’s today—during this difficult situation—or tomorrow, we will continue to help meet that energy need in the safest and most reliable way possible, while finding responsible solutions for our energy future.
How is TC Energy responding and how will this shape our energy portfolio, operations and profitability?
Our commitment to reducing emissions and improving efficiencies is not new. We have adopted new technologies and innovative approaches to minimize emissions in our operations for over six decades. As an energy company, with diverse businesses in natural gas, power and oil, we are well positioned to support the future energy mix. This includes our expansion into the LNG industry and in renewable energy.
We have a multi-year strategic plan that identifies the key priorities to achieve our prudent and time-tested business strategy and a robust research and development program, with a focus on improving the safety and efficiency of our facilities. We know there is more work to do to reduce overall global emissions, but we also believe the energy industry will be a critical part in achieving a low-carbon future.
Will TC Energy look to add more renewable energy to their portfolio to respond to climate change concerns/energy transition?
We continue to look at all forms of energy to balance energy demand with global emission reduction goals. Outside of our diverse businesses in natural gas, power and oil, we have partnered in the LNG industry and have invested in several new solar projects, hydro energy pump storage projects and the world’s first waste heat recovery project. We also continue our investments in the Bruce Power project in Ontario, which provides emission-less energy to roughly one-third of Ontario.
What is TC Energy's response to carbon pricing?
Lowering the world’s Greenhouse Gas emissions is essential to realizing a low-carbon future. We support broad-based, economy-wide carbon pricing and believe that an effective carbon pricing structure must:
- Facilitate meaningful emissions reductions
- Balance economic, environmental, and energy security needs
- Provide the regulatory certainty required to attract capital
- Consider the role of natural gas in the timely transition to a low-carbon economy
- Maintain and encourage the North American energy sector competitiveness
- Support market-based policies to promote industry innovation
- Ensure compliance flexibility and support for carbon offsets
- Recognize and account for early and/or voluntary actions
- Harmonize policy frameworks and avoids duplication
When such principles inform public policy, they minimize overall societal costs and allow markets to determine the technologies that will be most successful. We know that strong climate change policy will take a collective effort among industry, governments, communities and consumers to see true change in our actions against climate change. We will continue to advance our efforts to work with policy-makers and industry peers to help our industry fully participate in the North American climate change discussion.
Does TC Energy care about climate change? What is our response to the climate change issue?
The need for energy is essential to our daily lives and so too is the need to address climate change. To effectively tackle the climate change issue, the world must find new and innovative ways to reduce global emissions while still ensuring the necessary energy we all need. As an organization with a long history of innovation in reducing our emissions and addressing climate change-related issues, we support the goals of the Paris Agreement and are ready to undertake the critical challenge before us as we move to a low-carbon future. We will continue to collaborate with industry, academia and governments in Canada, the U.S. and Mexico to enhance the safety and efficiency of our pipeline operations and to find ways that further reduce our emissions.