CALGARY — Pipeline giant Enbridge Inc. is urging shareholders at its upcoming annual meeting to vote against a proposal calling on the company to do more to disclose its Scope 3 emissions.
The shareholder proposal filed by Investors For Paris, a group that aims to hold publicly traded companies accountable for their net-zero promises, calls on Enbridge to disclose the end-use emissions produced by the oil and natural gas it transports in its pipeline network.
The term “Scope 3” refers to emissions that a company is indirectly responsible for, such as the greenhouse gases generated when a customer uses the company’s product.
Enbridge currently discloses the Scope 3 emissions produced by its natural gas utility business, but it doesn’t provide an accounting of the end use of the fossil fuel products it transports in its pipeline business.
In its response to the shareholder proposal, which will be voted on at Enbridge’s annual meeting on May 8, Enbridge says it is currently unable to accurately and reliably track third-part use of the oil and natural gas it transports for customers.
Investors for Paris brought a similar resolution to Enbridge’s annual meeting last year, at which time approximately 25 per cent of shareholders voted in favour of the company adopting more extensive Scope 3 disclosure practices.
This report by The Canadian Press was first published March 13, 2024.
Companies in this story: (TSX:ENB)
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