Algoma Central Corporation Releases 2020/2021 Sustainability Report

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Algoma Central Corporation (TSX: ALC) released its 2020/2021 Corporate Sustainability Report that details the Companys sustainability priorities, actions and progress across the three pillars of people, planet and prosperity.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, June 29, 2022
Information
Tags: 
Maritime, Transport, Logistics, Supply Chain Management, Environment, GHG, CEO, Sustainability accounting, Carbon, TSX, COVID-19, Sustainability, Gold, Company, Corporation, History, Domestic, GRI, Great Lakes, Safety, United Way, Lake, Global, Algoma Central, Corporate sustainability, Lithium, Renewable energy
Geotags: 
ONTARIO, NORTH AMERICA, CANADA, ALGOMA
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Organisation: 
ALGOMA CENTRAL CORPORATION
Stock Symbol: 
TSX:ALC
Summary
Key Points: 
  • Algoma Central Corporation (TSX: ALC) released its 2020/2021 Corporate Sustainability Report that details the Companys sustainability priorities, actions and progress across the three pillars of people, planet and prosperity.
  • Reflecting on our progress over the last two years brings me immense pride, said Gregg Ruhl, President and CEO of Algoma Central Corporation.
  • Algoma has published a report on its sustainability performance bi-annually since 2011, with the last report covering the 2018/2019 reporting years.
  • The contents of the report were guided by the Global Reporting Initiative (GRI) Sustainability Reporting Standards and Sustainability Accounting Standards Board (SASB).


Algoma Central Corporation (TSX: ALC) released its 2020/2021 Corporate Sustainability Report that details the Company’s sustainability priorities, actions and progress across the three pillars of people, planet and prosperity.

“I am pleased to share with you Algoma’s latest sustainability report covering 2020 and 2021. Reflecting on our progress over the last two years brings me immense pride,” said Gregg Ruhl, President and CEO of Algoma Central Corporation. “We have surpassed great milestones and broke multiple records all while navigating challenges and adapting quickly to change brought forth by the global COVID-19 pandemic. This success is a direct result of the passion, dedication and teamwork of our people both ship and shore. This report illustrates our commitment to being a sustainable company and details our progress, challenges and achievements while also looking at our vision for the future,” continued Mr. Ruhl.

Notable 2021 report highlights include:

  • Achieved the company’s lowest number of annual lost time injuries in its history;
  • A record 68% of Algoma’s fleet earned their Gold Flag for sustainable performance, an increase of 19% from 2020;
  • Progressed Algoma’s fleet renewal with the delivery of the Algoma Intrepid in 2020 and the Captain Henry Jackman in 2021 in replacement of the Algoma Enterprise and Algoma Spirit which were responsibly recycled;
  • Reduced greenhouse gas emissions (GHG) intensity by 18% since 2008 (Domestic Dry-Bulk), on target to reach our 25% by 2025 goal set in 2015;
  • Set a new GHG reduction target of 40% by 2030 (baseline 2008);
  • Invested over $3 million per year in shipboard training;
  • Diverted 156.3 MT of recyclables (mixed recycling, organics shipboard and shoreside) from landfill in 2020/2021;
  • Donated over $210k to community initiatives Canada wide through the United Way in 2020/2021;
  • Assembled Algoma’s COVID-19 Task Force to provide direction and support all employees during the rapidly changing pandemic environment.

Algoma has published a report on its sustainability performance bi-annually since 2011, with the last report covering the 2018/2019 reporting years. This report summarizes our management approach and performance on environmental, safety and social issues and indicators for the 2020/2021 period. The contents of the report were guided by the Global Reporting Initiative (GRI) Sustainability Reporting Standards and Sustainability Accounting Standards Board (SASB).

Click here to read Algoma’s 2020/2021 Corporate sustainability Report.

About Algoma Central Corporation

Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. Since 2010 we have introduced 10 new build vessels to our domestic dry-bulk fleet, with one under construction and expected to arrive in 2024, making us the youngest, most efficient and environmentally sustainable fleet on the Great Lakes. Each new vessel reduces carbon emissions on average by 40% versus the ship replaced. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally. Algoma truly is Your Marine Carrier of Choice™. For more information about Algoma, visit the Company's website at www.algonet.com

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