Boralex inc. (“Boralex” or the “Company”) is proud to
announce that it is one of the few companies in the renewable energy sector to have its greenhouse gas
(GHG) emissions reduction targets validated by the Science Based Targets initiative (SBTi). This recognition
confirms that Boralex's commitment to reach net-zero GHG emissions by 2050 across its entire value chain
is science-based and aligned with a trajectory to achieve the goals set by the Paris Agreement of limiting
global temperature increases to less than 1.5
oC.
“The validation of our targets by the SBTi is perfectly in line with our strategic objective of becoming the
reference in corporate social responsibility (CSR) for our partners. Today’s announcement consolidates our
leadership role in our industry, reinforces our commitment to produce renewable energy in the best possible
way, and resonates with our organizational purpose, which aims to benefit future generations”, said Patrick
Decostre, President and CEO of Boralex.
“I’m extremely proud of the monumental work carried out by many Boralex employees in recent years, which
today enables us to be among the first companies in our industry to have our targets validated by the SBTi
initiative. In addition to representing concrete, ambitious and realistic actions to fight climate change, this
commitment shows that we are anticipating market needs, including compliance with upcoming CSR
regulatory frameworks”, said Mihaela Stefanov, Senior Vice President, Enterprise Risk Management and
Corporate Social Responsibility.
To reach net-zero by 2050, the most ambitious designation available through the SBTi process, Boralex has
set near- and long-term targets covering 100% of emissions from its entire value chain (Scope 1, 2 and 3):
• Near-term : By 2030, Boralex is committed to reducing its absolute Scope 1 and 2 emissions by 42%
from a base year of 2022, and by 2028, to having 90% of its major component suppliers have sciencebased reduction targets.
• Long-term : By 2050, Boralex is committed to reducing its absolute Scope 1 and 2 emissions by 90%
and its Scope 3 emissions per kWh produced and sold by 97%, from a base year of 2022.
To ensure that every kWh generated and produced is as low-carbon as possible, Boralex relies, among other
factors, on the gradual electrification of its vehicle fleet, the consumption of electricity from renewable sources
at its sites and buildings, and partnerships with strategic low-carbon suppliers.
The validation of our targets by the SBTi, a reputable global organization supported by 130 specialists based
in North America and Europe, is a central element in our overall CSR and risk management strategy. Indeed,
it was essential for Boralex to go beyond a GHG emissions reduction objective by adopting an action plan to
achieve this objective that is concrete, realistic and backed by a recognized authority.
