At a virtual event held at the Nuclear Innovation Institute, Bruce Power highlighted the progress and innovative work on its Road Map to Net Zero, a multi-faceted action plan to support Ontario’s and Canada’s climate change goals. Tackling the challenge of achieving Net Zero will require immediate action, and the nuclear industry and its community partners are leading the way.
The plan, unveiled in June 2022, outlines Bruce Power’s commitment to tackle climate change by targeting Net Zero emissions from on-site operations by 2027, optimizing existing infrastructure and supporting innovation in new energy technology, while investing in local environmental initiatives and helping to create good jobs in the region.
“As one of the largest producers of clean energy in Ontario, we have a responsibility to lead by example by reducing our carbon footprint on site and helping to drive economic growth, innovation and environmental protection within our region and beyond,” said Jennifer Edey, Senior Vice-President of Operational Services and Business Development at Bruce Power.
Bruce Power’s overall approach to sustainability includes ambitious performance targets, which are outlined in its 2023 Sustainability Report.
“Bruce Power continues to demonstrate leadership in achieving meaningful progress on its Road to Net Zero action plan,” said John Yakabuski, Parliamentary Assistant to the Minister of Environment, Conservation and Parks. “Each advancement helps Ontario achieve its emissions reduction targets while ensuring a cleaner, healthier future for Ontarians.”
In the past year, Bruce Power has advanced a number of initiatives to promote sustainability and advance its Road Map to Net Zero, taking action against climate change both on site and across the Clean Energy Frontier region of Bruce, Grey and Huron counties.
Sustainability today for tomorrow: advancing Net Zero by 2027
Bruce Power has made the ambitious commitment to achieve Net Zero emissions from site operations by 2027, making it the first nuclear operator in North America to announce such an aggressive target.Bruce Power met emissions reduction targets in 2022 and continues to work on the implementation of on-site operational initiatives and partnering with local carbon sequestration and offset projects to support further reductions.
In 2022, Bruce Power announced a $1 million investment in the New Acre Project delivered by ALUS, the leading not-for-profit in Canada helping farmers and ranchers build nature-based solutions on their land to support stronger, more resilient communities. This project, funded in collaboration between Bruce Power and the Nuclear Innovation Institute, will support a total of 600 acres of nature-based projects over three years, which will generate carbon credits that can be used to offset Bruce Power’s on-site emissions where reductions are not feasible.
In its first year, the investment has supported 20 local farmers in Grey and Bruce counties in creating 200 acres of nature-based projects, such as native grasslands, wetlands and tree and shrub plantings. These projects are expected to sequester 2,737 tonnes of CO2 emissions over five years.
New Acre Project recently released Bruce Power’s first annual progress report demonstrating the company’s $1 million three-year investment in farmer-delivered nature-based climate solutions is having a measurable positive environmental impact.
Investing in local decarbonization: Bruce Power Net Zero Inc.
Through Bruce Power Net Zero Inc. (BPNZ), the company looks to invest in local clean and complementary technologies and projects that maximize socio-economic and environmental benefits for the communities in which Bruce Power operates.
Bruce Power, BPNZ, Greenfield Global, Hydrogen Optimized, Hensall Co-op, and Hatch have completed a feasibility study into the potential development of a nuclear hydrogen hub in the Clean Energy Frontier region of Bruce, Grey, and Huron counties. The study identified that as demand grows, the use of incremental energy from Project 2030 could be utilized for the purpose of hydrogen production. Project 2030, which aims to increase site capacity to upwards of 7,000 megawatts by the 2030s, provides Bruce Power the flexibility to potentially produce hydrogen in the future.
The study aligns with the provincial government’s strategy to integrate low-carbon hydrogen technologies into Ontario’s electricity supply to balance and strengthen reliability in various end-use applications like peaking generation capacity, ancillary services, and long-term and seasonal storage.
BPNZ has also teamed up with Canadian Nuclear Laboratories (CNL), Expander Energy Inc., and Nuclear Promise X (NPX) to establish an E-Syn team. The companies will collaborate to explore the feasibility of a project to produce clean hydrogen and low carbon intensity synthetic diesel and jet fuel from biomass using nuclear energy, utilizing Biomass Electrolysis to Liquids™ (BETL™) technology, which would be located in the Bruce County region.
Advancing green financing
Today, Bruce Power released its second Green Bond Impact Report. In March 2023, the company issued $600 million in green bonds as it continues to help the province and country achieve their Net Zero goals. The report provides information on the allocation and impact of the green bond proceeds related to this issuance.
This latest issuance comes after Bruce Power became the first nuclear operator in the world to successfully issue Green Bonds in 2021, in the amount of $500 million. This was a significant milestone in the recognition of the critical role nuclear technology plays in fighting climate change and enabling a Net Zero future.
