March 13, 2023

Capital Power named one of the World’s Most Ethical Companies® by Ethisphere for fifth straight year

2023 World's Most Ethical companiesEDMONTON, Alberta – Capital Power Corporation (TSX: CPX) (“Capital Power”) has been recognized by Ethisphere as one of the 2023 World’s Most Ethical Companies®. This recognition honours companies demonstrating business integrity through best-in-class ethics, compliance, and governance practices. Capital Power is one of only five Canadian companies and one of nine Energy and Utilities companies worldwide recognized in 2023.

“As we innovate our business to reach net zero by 2045, maintaining our strong foundation of ethics, compliance and governance best practices is key to our long-term success. Our determination to continuously strengthen and elevate these programs is rooted in our values – we act with integrity and take responsibility for our decisions and actions.” said Brian Vaasjo, President and CEO of Capital Power. “Congratulations to all our employees for earning this recognition – you exemplify our values as we power a sustainable future for people and planet.”

“We’re honoured to have our ethics, compliance and governance programs recognized by Ethisphere for a fifth straight year,” said Kate Chisholm, Senior Vice President, Chief Strategy and Sustainability Officer of Capital Power. “At Capital Power, we uphold high ethical standards in everything we do. Our robust policies, comprehensive training and engagement programs, and our commitment to review and improve our practices enhance our accountability and performance.”

The World’s Most Ethical Companies® award is administered by Ethisphere, a global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success. “Ethics matters. Organizations that commit to business integrity through robust programs and practices not only elevate standards and expectations for all, but also have better long-term performance,” said Ethisphere CEO, Erica Salmon Byrne. “Congratulations to Capital Power for earning a place in the World’s Most Ethical Companies® community – your commitment to upholding the highest standards of ethics, compliance and governance practices across your business is commendable.”

About the 2023 World’s Most Ethical Companies® Award

In 2023, 135 honourees were recognized spanning 19 countries and 46 industries. Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies® assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives that support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.

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Territorial Acknowledgement

In the spirit of reconciliation, Capital Power respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Power’s head office is located within the traditional and contemporary home of many Indigenous Peoples of the Treaty 6 region and Métis Nation of Alberta Region 4. We acknowledge the diverse Indigenous communities that are located in these areas and whose presence continues to enrich the community.

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented North American wholesale power producer with a strategic focus on sustainable energy headquartered in Edmonton, Alberta. We build, own, and operate high-quality, utility-scale generation facilities that include renewables and thermal. We have also made significant investments in carbon capture and utilization to reduce carbon impacts. Capital Power owns approximately 7,500 MW of power generation capacity at 29 facilities across North America. Projects in advanced development include approximately 151 MW of owned renewable generation capacity in Alberta and 512 MW of incremental natural gas combined cycle capacity, from the repowering of Genesee 1 and 2 in Alberta.