Climate change

We have robust climate governance and risk management processes, overseen by TC Energy’s Board of Directors and executive leadership team. Please see the information on climate governance, risks and opportunities in our annual Report on Sustainability.

TC Energy understands that shareholders and other stakeholders want information on how the company is addressing climate change and associated risks. We have outlined specific strategic direction on how the company is addressing long-term risks and opportunities in relation to climate change and the energy transition in our annual ESG Data Sheet and our GHG Emissions Reduction Plan.

We recognize that future energy systems will evolve. For many years we have evaluated the resilience of our asset portfolio over a range of potential energy supply and demand outcomes, also known as scenario analysis, as part of our strategic planning process. We believe our existing and future asset portfolio is resilient and well-positioned to embrace the energy transition, tolerate disruptions and adapt to external changes or uncertainties. We monitor the pace and magnitude of energy transition through various signposts and look for material shifts that pose threats or create opportunities; each year evaluating the scenarios that will best inform our strategy.

As an energy infrastructure company, we recognize our role in the larger energy system, including the ongoing management of our own GHG emissions. We are committed to managing our GHG emissions, reducing our GHG emissions intensity and continuing to integrate climate considerations into our overall business strategy.

TC Energy is a proud signatory to the Methane Guiding Principles. These principles focus on priority areas for action towards the reduction of methane emissions across the natural gas value chain.

Our GHG Emissions Reduction Plan provides more details on how we are modernizing our systems and assets to reduce fugitive methane emissions, leaks, venting and flaring associated with regular operations and maintenance, and improving overall operational efficiency. We are also looking to decarbonize our own energy consumption by seeking low-carbon energy sources to support our operations.

We collaborate with industry and government partners to enhance the safety, efficiency and reliability of our operations and assets, and are supporting, advancing and embracing the energy transition across our industry.

Our memberships and partnerships with industry organizations across North America contribute to federal and global responses to climate change. We engage with government and stakeholder representatives on climate change policy developments, and fund research for GHG emissions reduction opportunities.

For example, we are participants in the U.S. Environmental Protection Agency Natural Gas STAR program; we are a member company in the Interstate Natural Gas Association of America Methane Emission Commitment; and we are one of 50 members in the ONE Future Coalition, a group of natural gas companies working together to voluntarily reduce methane emissions across the natural gas supply chain.

Our historic GHG emissions data is available in our annual Report on Sustainability.

We recognize interest from governing bodies to reduce GHG emissions through the implementation of various carbon policy and regulatory mechanisms. We support policies that recognize the global nature of climate change and promote the reduction of both GHG intensity and absolute volume in a way that enhances human well-being now and in the future, considering the need for affordable, reliable energy and economic growth.

We support the need for sensible and cohesive public policy frameworks by engaging in dialogue with policy-makers and industry peers to help our industry fully participate in the North American discussion on climate change. Further, we contribute to a unified North American response through memberships in industry organization, engagement with government and stakeholder representatives on climate change policy developments, and funding research into GHG emissions reduction opportunities.