WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) is pleased
to announce ambitious climate action through a commitment to
achieve net zero emissions across its value chain by 2040. To
support the achievement of its net zero commitment, the Corporation
has set science-based greenhouse gas (GHG) emissions reduction
targets, which have been approved by the Science Based Targets
initiative (SBTi).
“We are pleased to announce these commitments
and join other organizations in leading the way on urgently
tackling climate change,” stated Alexandre L’Heureux, WSP’s
President and Chief Executive Officer. “Moreover, as the leading
global environmental consulting firm, we are well positioned to
advise our clients on their own transition to a low-carbon economy.
Our Future Ready® approach is at the centre of this support for our
clients in a rapidly changing world.”
Through this net zero commitment WSP will also
join the Race to Zero, which brings together a coalition of leading
net zero initiatives, with an objective to build momentum around
the shift to a decarbonized economy ahead of COP26, the 26th United
Nations Climate Change conference taking place later this year.
“We congratulate WSP on setting science-based
targets consistent with limiting warming to 1.5°C, the most
ambitious goal of the Paris Agreement,” said Heidi Huusko, Senior
Manager, Environment and Climate at the United Nations Global
Compact, one of the Science Based Targets initiative partners. “By
aligning its goals with a 1.5°C future as a signatory of the
Business Ambition for 1.5°C Campaign, WSP is taking action to
prevent the most damaging effects of climate change.”
The GHG emissions reduction targets WSP is
announcing today, which supersede the Corporation’s existing
targets, increase the level of our ambition to align with the
latest climate science.
WSP’s science-based GHG emissions
reduction targets
WSP’s science-based GHG targets cover all scope
1 and 2 emissions, as well as all relevant scope 3 emissions1, as
defined by the GHG Protocol Corporate Accounting and Reporting
Standard. The targets are as follows: WSP commits to reduce
absolute scope 1 and 2 market-based GHG emissions 60% by 2030 from
a 2018 base year. WSP also commits to reduce absolute scope 3 GHG
emissions 30% over the same timeframe.
In addition to its science-based targets, WSP is
committing to source 100% renewable electricity by 2030, supporting
its operational GHG reduction efforts.
Each WSP region is in the process of updating
its GHG action plans to support achievement of these targets. Among
the actions required to drive reductions in scope 1 and 2, WSP
intends to continue to focus on increasing the energy efficiency of
its facilities across the globe and reducing the emissions impact
of its vehicle fleets. WSP's scope 3 target will now include all
categories relevant to the business (purchased goods and services,
business travel, employee commuting, and other upstream emissions
sources), as defined by the GHG Protocol2. Each WSP region will
therefore also focus on emissions reductions associated with what
we purchase, how we travel, and how we work outside the office.
GHG emissions associated with our design
and advisory services
Given the nature of WSP’s services, we have the
opportunity to make a meaningful contribution to reducing emissions
from the built environment through our design and advisory
services.
“We expect an increased focus on measuring and
reducing emissions associated with infrastructure in coming years,
and recognize it is an essential step in order to meet the goals of
the Paris agreement,” explained Alexandre L’Heureux. “Today, WSP is
pleased to commit to better understanding the GHG emissions
associated with WSP’s advice and designs, and to collaborating
further with our clients and partners to drive emissions
reductions.”
“Helping our clients reduce their emissions
remains a primary objective of our work, both for environmental
reasons and to promote positive social impact, as communities
benefit from resilient, low-carbon infrastructure,” added
André-Martin Bouchard, WSP’s Global Director, Environment &
Resources. “We believe that embedding our Future Ready® approach
throughout our project delivery process has the potential to make a
significant contribution to climate change mitigation.”
Progress on the Corporation’s targets will be
reported through WSP’s annual Global Sustainability Report and CDP
climate change questionnaire response.
ABOUT WSP As one of the
world's leading professional services firms, WSP provides
engineering and design services to clients in the Transportation
& Infrastructure, Property & Buildings, Environment, Power
& Energy, Resources and Industry sectors, as well as offering
strategic advisory services. WSP's global experts include
engineers, advisors, technicians, scientists, architects, planners,
environmental specialists and surveyors, in addition to other
design, program and construction management professionals. Our
talented people are well positioned to deliver successful and
sustainable projects, wherever clients need us. For more
information about WSP, please visit www.wsp.com
FORWARD-LOOKING
STATEMENTS Certain information contained herein
may constitute “forward-looking statements” within the meaning of
applicable Canadian securities laws and regulations.
Forward-looking statements may include estimates, plans,
objectives, commitments, expectations, opinions, forecasts,
projections, guidance, outlook or other statements that are not
statements of fact. Forward-looking statements can be identified by
words such as: "anticipate," "intend," "plan," "goal," "seek,"
"believe," "project," "estimate," "expect," "strategy," "future,"
"likely," "may," "should," "will" and similar references to future
periods. Forward-looking statements made by the Corporation in
this press release are based on a number of assumptions believed by
the Corporation to be reasonable as at the date hereof,
including assumptions about general economic and political
conditions; the state of the global economy and the economies of
the regions in which the Corporation operates; the state of and
access to global and local capital and credit markets; the
anticipated impacts of the COVID-19 pandemic on the Corporation’s
businesses, operating results, cash flows and/or financial
condition, including the effect of measures implemented as a result
of the COVID-19 pandemic. Although WSP believes that the
expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will
prove to have been correct. These statements are subject to certain
risks and uncertainties and may be based on assumptions that could
cause actual results to differ materially from those anticipated or
implied in the forward-looking statements. WSP's forward-looking
statements are expressly qualified in their entirety by this
cautionary statement. The complete version of the cautionary note
regarding forward-looking statements as well as the relevant
assumptions and risk factors, which, if realized, could cause the
Corporation's actual results to differ materially from those
expressed or implied in forward-looking statements, are
included in the Corporation’s Management’s Discussion and Analysis
for the year ended December 31, 2020, which is available on SEDAR
at www.sedar.com. The forward-looking statements contained in this
press release are made as of the date hereof and WSP does not
assume any obligation to update or revise any forward-looking
statements, whether as a result of new information,
future events or otherwise, unless expressly required by applicable
securities laws.
FOR ADDITIONAL INFORMATION, PLEASE
CONTACT:
Alain Michaud Chief
Financial Officer WSP Global
Inc. alain.michaud@wsp.com Phone:
438-843-7317
______________________
1 Scope 1: Direct emissions
including onsite fuel consumption such as natural gas for heating
or fuel consumption in owned and leased vehicles, as well as
emissions from refrigeration equipment; Scope 2:
Indirect emissions associated with energy generated by others and
purchased for use by offices such as grid electricity, district
steam for heating, and chilled water for cooling. Scope
3: Other indirect emissions including purchased goods and
services, business travel, employee commuting, and other relevant
emissions categories.
2 The emissions categories associated with
WSP’s updated scope 3 target are: purchased goods and services;
capital goods; fuel-and-energy related activities; waste generated
in operations; business travel; and employee commuting (which
includes employee work-from-home emissions).
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