Supporting our commitment to environmental, social and
governance leadership
MONTRÉAL, Nov. 9, 2022
/PRNewswire/ - Bell Canada (Bell)
announced today that it has amended its existing $3.5 billion committed credit facilities to
convert them to a sustainability-linked loan (SLL). The SLL
underscores Bell's continued commitment to environmental, social
and governance (ESG) leadership and our purpose to advance how
Canadians connect with each other and the world. The SLL follows
the announcement of BCE's Sustainable Financing Framework in
April 2021 and Bell's inaugural
$500 million Sustainability Bond
offering in May 2021 with
proceeds allocated to eligible green and social investments.
The amendment introduces an annual pricing adjustment that
reduces or increases the borrowing cost based on Bell's performance
of two key annual sustainability performance targets (SPTs) related
to the following Bell science-based greenhouse gas (GHG) targets
approved by the Science Based Targets initiative1
(SBTi):
- Reducing absolute scope 1 and 2 GHG emissions 57% by 2030 from
a 2020 base year; and
- Reaching 64% of our suppliers by spend, covering purchased
goods and services, having science-based targets by 2026.
Bell selected these two targets as they collectively cover the
vast majority of Bell's total carbon footprint. The annual SPTs
support our commitment to meeting our science-based targets for GHG
emissions reduction and supplier engagement by tying performance
with our cost of financing.
"We are pleased to announce the closing of this
Sustainability-Linked Loan. The SLL aligns with our ESG strategy
and performance to make a positive difference through our Bell
for Better investments supporting a more sustainable and prosperous
future."
- Glen
LeBlanc, Chief Financial Officer and Vice Chair,
Atlantic Canada
Bell's environmental leadership includes reducing environmental
impacts with initiatives throughout our value chain. Our commitment
to energy management and reducing our carbon footprint is in line
with our strategic imperative to engage and invest in our people
and create a sustainable future.
Bell's ESG strategy complements our financial performance by
working at the intersection of environmental, economic and social
systems, with the objective to create long-term value for the
company and for society.
____________________________________
|
1 Our
science-based targets may need to be adjusted in the future because
the SBTi requires that targets be recalculated (following the most
recent applicable SBTi criteria and recommendations) at a minimum
every five years, or more often if significant changes occur (e.g.
business acquisitions/divestitures).
|
TD Securities (TD) acted as the Sustainability Structuring Agent
for the SLL.
Environmental, social and governance
performance
Bell's ESG objectives create social and
environmental benefits by helping to build a better world, better
communities and a better workplace. Our approach focuses on
enhancing our environmental leadership, creating a workplace
focused on diversity, equality and inclusion, and employee
well-being, leading in mental health through Bell Let's Talk and
demonstrating best-in-class governance.
In 2022, Bell maintained ISO 50001 certification of its energy
management system for a third consecutive year, after becoming
the first communications company in North America to
achieve that designation for an Energy Management System
and was named the inaugural Greenhouse Gas (GHG) Reductions
Champion by Clean50, a national sustainability organization.
We announced our goal to have carbon neutral operations
starting in 2025 and have been recognized as one of Canada's
Greenest Employers for the sixth consecutive year.
Information about Bell's environmental initiatives and the
benefits we deliver to our customers, team and communities,
including our Bell for Better investments in mental
health, environmental and workplace leadership, is available in
our Corporate Responsibility Report. Bell's ESG objectives are
also featured in the BCE 2021 Annual Report to shareholders,
available at BCE.ca.
A copy of BCE's Sustainable Financing Framework and further
information on our sustainability strategy can be found
at BCE.ca.
About Bell
Bell is Canada's largest
communications company, providing advanced broadband wireless, TV,
Internet, media and business communication services throughout the
country. Founded in Montréal in 1880, Bell is wholly owned by BCE
Inc. To learn more, please visit Bell.ca or BCE.ca.
Through Bell for Better, we are investing to create a
better today and a better tomorrow by supporting the social and
economic prosperity of our communities with a commitment to the
highest environmental, social and governance (ESG) standards. This
includes the Bell Let's Talk initiative, which promotes Canadian
mental health with national awareness and anti-stigma campaigns
like Bell Let's Talk Day and significant Bell funding of community
care and access, research and workplace leadership initiatives
throughout the country. To learn more, please
visit Bell.ca/LetsTalk.
Caution Concerning Forward-Looking
Statements
Certain statements made in this news
release are forward-looking statements, including statements
relating to our ESG objectives and commitments including, without
limitation, our goal to achieve carbon neutral operations in 2025
and to achieve our science-based targets and annual SPTs for GHG
emissions reduction and supplier engagement, our business
objectives, plans and strategic priorities, and other statements
that are not historical facts. All such forward-looking statements
are made pursuant to the "safe harbor" provisions of applicable
Canadian securities laws and of the United
States Private Securities Litigation Reform Act of
1995. Forward-looking statements are subject to inherent risks
and uncertainties and are based on several assumptions which give
rise to the possibility that actual results or events could differ
materially from our expectations. These statements are not
guarantees of future performance or events, and we caution you
against relying on any of these forward-looking statements. The
forward-looking statements contained in this news release describe
our expectations at the date of this news release and, accordingly,
are subject to change after such date. Except as may be required by
applicable securities laws, we do not undertake any obligation to
update or revise any forward-looking statements contained in this
news release, whether as a result of new information, future events
or otherwise. Our ESG objectives and commitments, and the benefits
expected to result therefrom, are subject to risks and,
accordingly, there can be no assurance that our ESG objectives and
commitments will be completed or that the benefits expected to
result therefrom will be realized. In addition, forward-looking
statements for periods beyond 2022 involve longer-term assumptions
and estimates than forward-looking statements for 2022 and are
consequently subject to greater uncertainty. In particular, our GHG
emissions reduction targets are based on a number of assumptions
including, without limitation, the following principal assumptions:
implementation of various corporate and business initiatives to
reduce our electricity and fuel consumption, as well as reduce
other direct and indirect GHG emissions enablers; no new corporate
initiatives, business acquisitions or technologies that would
materially increase our anticipated levels of GHG emissions; our
ability to purchase sufficient credible carbon credits and
renewable energy certificates to offset or further reduce our GHG
emissions, if and when required; no negative impact on the
calculation of our GHG emissions from refinements in or
modifications to international standards or the methodology we use
for the calculation of such GHG emissions; no required changes to
our science-based targets pursuant to the Science Based Targets
initiative methodology that would make the achievement of our
updated science-based targets more onerous; and sufficient supplier
engagement and collaboration in setting their own science-based
targets and sufficient collaboration with partners in reducing
their own GHG emissions. For additional information on assumptions
and risks underlying certain of our forward-looking statements made
in this news release, please consult BCE Inc.'s (BCE) 2021 Annual
MD&A dated March 3, 2022, BCE's
2022 First Quarter MD&A dated May 4,
2022, BCE's 2022 Second Quarter MD&A dated August 3, 2022, BCE's 2022 Third Quarter MD&A
dated November 2, 2022, and BCE's
news release dated November 3, 2022
announcing its financial results for the third quarter of 2022,
filed by BCE with the Canadian provincial securities regulatory
authorities (available at Sedar.com) and with the U.S.
Securities and Exchange Commission (available at SEC.gov).
These documents are also available at BCE.ca.
View original
content:https://www.prnewswire.com/news-releases/bell-announces-closing-of-sustainability-linked-loan-301673740.html
SOURCE Bell Canada