Ongoing transparency in reporting metrics and targets used to assess and manage climate-related risks and opportunities
MONTREAL, Aug. 17, 2022 /CNW Telbec/ - Air Canada today issued its first report aligned with the Task Force on Climate-related Financial Disclosures (TCFD).
"We are proud and pleased to release our first TCFD-aligned report, reinforcing Air Canada's long-standing commitment to transparency on Environmental, Social, Governance (ESG) matters, while underscoring our ongoing work towards achieving our long-term goal of net-zero greenhouse gas (GHG) emissions globally by 2050," said Michael Rousseau, President and Chief Executive Officer at Air Canada. "Our objective is to provide investors and other stakeholders the necessary information to properly evaluate climate impacts and performance. This will also support our business development as we work to decarbonize and transform our industry with positive changes to help protect our planet for our employees, customers and communities, now and well into the future."
Air Canada's TCFD report addresses its governance structure, strategies, risk management and practices as they relate to climate change. The airline's TCFD report complements its annual CDP (Climate Disclosure Project) disclosure report and corporate sustainability report (Citizens of the World). Since 2019, Air Canada has also been reporting to Transport Canada in relation to the ICAO Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which applies to certain international flights and is aimed at achieving the aviation industry's carbon neutral growth target.
The Financial Stability Board (FSB) established the TCFD, an industry-led disclosure task force to develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders. More information about TCFD is here.
Air Canada is Canada's largest airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network celebrating its 25thanniversary in 2022. Air Canada provides scheduled passenger service directly to 51 airports in Canada, 51 in the United States and 86 internationally. It is the only international network carrier in North America to receive a Four-Star ranking from Skytrax, which in 2021 gave Air Canada awards for the Best Airline Staff in North America, Best Airline Staff in Canada, Best Business Class Lounge in North America, and an excellence award for managing COVID-19. Through its leading travel loyalty Aeroplan program, Air Canada offers the ability to earn or redeem points on the world's largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental rewards. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada's passenger flights and cargo-only flights with its fleet of Boeing 767-300 freighters. Air Canada has committed to a net zero emissions goal from all global operations by 2050.
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SOURCE Air Canada