Enwave Energy Corporation
Enwave Energy Corporation recently released its Green Financing Framework, and has published its inaugural Environmental, Social and Governance (ESG) report. Both of these highlight the organization’s commitment to sustainability and to industry leadership as they are the first to be focused on district energy in North America.
The Green Financing Framework provides guidelines for Enwave’s raising of capital for a portfolio of new and existing assets primarily in the categories of energy efficiency, renewable energy, pollution prevention and control, and sustainable water and wastewater management. Scotiabank acted as Green Structuring Advisor for the Green Financing Framework.
Sustainalytics, a global leader in ESG research and analysis, evaluated Enwave’s Green Financing Framework and confirmed that Enwave’s Framework aligns with the Green Bond Principles 2018 and the Green Loan Principles 2020.
“As a company that delivers low-carbon solutions, Enwave is proud to launch our Green Financing Framework,” said John Peri, Chairman and CEO of Enwave. “The Green Financing Framework will allow investors interested in accelerating the deployment of clean energy to support Enwave as we continue to integrate large-scale sustainable infrastructure that supports the critical needs of the hospitals, universities, municipalities and the communities we serve.”
In addition, Enwave commits to its sustainability strategy and environmental performance with the publishing of its inaugural ESG report. According to Peri, “The report is an important step in continuing to progress our sustainability agenda. Our purpose, ‘Moving Energy Forward’, is aligned with the needs of those we serve, drives our innovation and provides added momentum for our long-standing commitment to sustainability, which this report helps us bring to life.”
The three pillars of Enwave’s strategy include:
- Environmental performance: developing solutions to help communities keep global temperature rises well below 1.5 degrees Celsius and participate in the low-carbon economy
- Operational excellence: combining a high-performance culture and digital innovations to enable the integration of available energy sources to ensure flexibility and efficiency in each community system.
- Responsible management: anchoring how business is done with the highest standards of ethics, compliance, and proactive risk management, as well as, enabling the organization to take a leadership role in the industry to accelerate the low-carbon energy transition.
Enwave’s commitment to these priorities is evidenced by recent projects such as creating a low-carbon campus through an innovative sewer heat recovery system in partnership with the National Western Center in Denver, the first community based single-family dwelling geo-exchange district energy system in the province of Ontario, and the expansion of the Deep Lake Water Cooling system in Toronto, which harnesses the renewable cold lake temperature to cool hospitals, educational campuses, government buildings, commercial and residential buildings.