Caribbean Utilities Company, Ltd. is listed for trading in
United States dollars on the
Toronto Stock Exchange under the trading symbol "CUP.U".
GRAND
CAYMAN, Cayman
Islands, Sept. 5, 2022 /CNW/ - Caribbean Utilities
Company, Ltd. (TSX: CUP.U) ("CUC" or the "the Company") today
released its first Sustainability Report. This report
facilitates the effective communication of the Company's
environmental and social programmes and its commitment to the high
standards in environmental, social and governance ("ESG")
initiatives. The report details some of the future plans that
the Company will adopt to realise the Company's Vision, Mission and
Value Proposition.
CUC has announced its commitment to reducing Scope 1 greenhouse
gas emissions by 75% by 2035 (using 2019 as a baseline). The
Company will achieve this target by installing renewable energy as
detailed in the Company's Integrated Resource Plan ("IRP").
To achieve the initiatives of the IRP the Company has created a
Sustainable Energy Plan ("the Plan"). The Plan aims to
promote projects, programmes and initiatives over the next year
that will benefit customers, the environment, the Cayman Islands and the Company. The Plan
will involve the design, development and execution of various
projects including: utility scale solar and storage, natural gas
procurement, purchase of electric vehicles ("EV") and expanding the
amount of EV charging stations on Grand
Cayman.
CUC has for many years, embraced ESG initiatives including but
not limited to the implementation of environmental standards
through its Environmental Management System, its community
involvement projects and its Scholarship programme, which to date
has issued 59 scholarships to persons in Grand Cayman. The Company continues to focus
on the development of its employee base and is creating a more
equitable and desirable place to work through its diversity, equity
and inclusion programmes.
For many years CUC has participated in a number of biodiversity
programmes including the Mangrove education programme and the
turtle release and lighting programmes.
Manager of Regulatory & Sustainability, Judith Bennett says, "CUC has a major role to
play in the area of sustainability. As a utility company, we
will contribute to the global initiative to reduce our carbon
footprint and lead the way to a more sustainable future for
all. ESG forms the basis of our corporate strategy and
objectives. Over the next couple of years, the Company
intends to execute various programmes and initiatives to reduce ESG
risks and enhance ESG opportunities."
To access a copy of the report, visit the Company's website at:
www.cuc-cayman.com.
SOURCE Caribbean Utilities Company, Ltd.