FOR IMMEDIATE RELEASE
Friday, May 21, 2021
Sierra Club Canada Foundation is deeply concerned that Emera failed to commit to get off coal at its 2021 AGM, held virtually on May 20th. Canada has committed to phase out coal-fired electricity by 2030 and Nova Scotia has committed to a 2030 phase-out date.
"We know that accelerated investments in energy efficiency, wind, solar, and storage are both necessary and doable, and we asked Emera to commit to the province’s timeline to get off coal by 2030. However, Emera CEO Scott Belfour would not commit to complying with the accelerated 2030 timeline that Premier Rankin outlined in his throne speech earlier this year," says Gretchen Fitzgerald, National Programs Director for Sierra Club Canada Foundation.
"I was delighted that most of the questions shareholders put to Emera’s leadership during the meeting were about wanting Emera to clean up its act in the communities where it operates, including Florida, Nova Scotia and the Caribbean,” says Tynette Deveaux, Communications Coordinator for Beyond Coal Atlantic. “Shareholders also made it clear they want Emera to do better with regards to diversity and inclusion, environmental justice, and getting off of fossil fuels quickly in light of the climate crisis.”
“Scott Balfour spoke about how Emera values Environmental, Social Responsibility, and Governance (ESG) considerations, but failed to mention that Emera’s current ESG rating puts it in the "high risk" category,” adds Deveaux. “Clearly Emera’s rating is not going to get better if they continue burning coal and other fossil fuels and investing millions of dollars more in them—such as the $850 million in the Big Bend Power Plant in Florida and investments in natural gas for Nova Scotia.”