One of three companies in Canada, and one of six Energy & Utilities companies worldwide to receive this honour for 2019
EDMONTON, Alberta – Capital Power Corporation (“Capital Power”) (TSX: CPX) has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2019 World’s Most Ethical Companies®.
“Capital Power is proud to foster a company culture that values integrity, hard work and devotion to doing what’s right for our company, our investors, our community partners and all other stakeholders we engage with,” said Brian Vaasjo, President and CEO of Capital Power. “The recognition by the Ethisphere Institute is important and affirms the high value we place on our commitment to ethics across all aspects of our business.”
“This award marks an important benchmark for our policies and recognizes our commitment to sustainability, disclosure and transparency,” said Kate Chisholm, Senior Vice President, Chief Legal & Sustainability Officer of Capital Power. “Remaining future-focused, we will continue to adapt our practices to meet the evolving needs of our industry.”
The World’s Most Ethical Companies® award is administered by Ethisphere Institute, an organization that brings together leading global companies to define and promote best practices for ethics and compliance. “Today, employees, investors and stakeholders are putting their greatest trust in companies to take leadership on societal issues. Companies that take the long view with a purpose-based strategy are proven to not only outperform but last,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “I would especially like to congratulate everyone at Capital Power, one of only three Canadian companies selected, for earning this recognition. Capital Power’s commitment to build and maintain a positive reputation within their industry and community through their environmental, social, ethics and governance practices is admirable.”
About the 2019 World’s Most Ethical Companies® Award
In 2019, 128 honourees were recognized spanning 21 countries and 50 industries. The thirteenth class of honourees profoundly illustrate how companies continue to be the driving force for improving communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and a strong sense of purpose.
The World’s Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner. The information collected provides a comprehensive sampling of definitive criteria of core competencies rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), culture of ethics (20 percent), corporate citizenship and responsibility (20 percent), governance (15 percent) and leadership and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, owns, and operates power generation facilities using a variety of energy sources. Capital Power owns approximately 5,100 megawatts (MW) of power generation capacity at 25 facilities across North America. Approximately 900 MW of owned generation capacity is in advanced development in Alberta and Illinois.