TORONTO, May 4, 2023
/CNW/ - Today, Loblaw Companies Limited (TSX: L) ("Loblaw")
announced an unprecedented carbon-free energy deal that will see
the electricity it purchases for its supermarkets, drugstores,
offices and distribution centres in Alberta generated entirely by wind, sun and
water. The arrangement, leveraging renewable energy sources, is the
first of its kind in Canada.
This program will eliminate the carbon emissions associated with
the company's electricity purchases in Alberta, while cutting its nationwide
enterprise operating emissions by 17%.
As a result of this program, one day soon, carbon-free
electricity will be used to power over 280 locations, including
Real Canadian Superstore, Shoppers Drug Mart, No Frills, Real
Canadian Liquor Store, Independent and Wholesale Club stores, as
well as the company's offices and distribution centres. This energy
purchase will provide over 300,000 megawatt hours of carbon-free
energy every year – enough to power the homes in a city like
Lethbridge, Alberta – and save the
equivalent of up to 180,000 metric tons of carbon emissions from
being released into the atmosphere.
"Loblaw has been actively reducing its carbon emissions for over
a decade, consistently exceeding its own ambitious targets. Last
year, when we raised those targets to become net zero by 2040, we
knew we would need some breakthrough innovation to reach our goal,"
said Galen G. Weston, Chairman and
President, Loblaw Companies Limited. "This project delivers that by
turning our highest carbon emitting energy market into our lowest,
in one single step. Today's announcement is a powerful example of
private industry working together to bring scaled change to the
energy transition."
Loblaw is making this purchase from TC Energy, an experienced,
long-time North American energy company. TC Energy, in its own
campaign to reduce emissions, has put together Alberta's first product to make carbon-free
energy available round-the-clock. As such, TC Energy either owns,
operates, or has access to carbon-free renewable energy generation
and large-scale energy storage facilities.
This product solves the renewable energy intermittency
challenge: what to do when the wind doesn't blow or the sun doesn't
shine. With this approach, carbon-free energy is generated by solar
panels and wind turbines that capture energy from the elements and
feed it into Alberta's electrical
grid – which powers Loblaw stores, offices and distribution
centres. A pumped-hydro energy storage station circulates
water up- and down-hill to store and generate carbon-free power
when wind and solar power are not available.
The end result: carbon-free energy, available 24/7, generated by
Canadian innovation, that will not only power Loblaw's stores and
business, but also create more stable and reliable renewable energy
for Albertans.
"TC Energy's success is incumbent on providing customer-led
energy solutions," says François Poirier, President and CEO, TC
Energy. "After many productive discussions to understand Loblaw's
decarbonization needs, our team crafted a plan to help them access
carbon-free electricity to power their entire operation in
Alberta. Our intrinsic power
knowledge and experience drove our team to develop Canada's first-ever 24X7 carbon-free energy
product. This means Loblaw – and other companies – can make huge
strides to reduce their emissions – a goal we are all aligned
to."
The energy purchase between Loblaw and TC Energy is subject to
the satisfaction of all terms and conditions set out in the
agreement between the two organizations. Elements of the
program are expected to come online in 2025.
Program Highlights
- Today, Loblaw announced an innovative carbon-free energy
purchase.
- The company says the electricity it purchases for its
supermarkets, drugstores and distribution centres in Alberta will soon be generated by wind, sun
and water – 100% carbon-free energy using renewable resources.
- This purchase will eliminate the carbon emissions associated
with the company's electricity purchases in Alberta.
- It will also reduce Loblaw's national enterprise operating
emissions by 17 per cent.
- This purchase is like powering over 45,000 homes in
Alberta with renewable
energy.
- Loblaw is making this purchase from Alberta's TC Energy.
- This is carbon-free energy, available 24/7, generated by
Canadian innovation, that will not only power Loblaw stores and
business, but also create stable and reliable renewable energy for
Albertans.
About Loblaw Companies
Limited
Loblaw is Canada's food and
pharmacy leader, and the nation's largest retailer. Loblaw provides
Canadians with grocery, pharmacy, health and beauty, apparel,
general merchandise, financial services and wireless mobile
products and services. With more than 2,400 corporate, franchise
and Associate-owned locations, Loblaw, its franchisees and
Associate-owners employ more than 221,000 full- and part-time
employees, making it one of Canada's largest private sector employers.
Loblaw's purpose – Live Life Well® – puts first the needs
and well-being of Canadians who make one billion transactions
annually in the company's stores. Loblaw is positioned to meet and
exceed those needs in many ways: convenient locations; more than
1,050 grocery stores that span the value spectrum from discount to
specialty; full-service pharmacies at nearly 1,350 Shoppers Drug
Mart® and Pharmaprix® locations and close to 500 Loblaw
locations; PC Financial® services; affordable Joe
Fresh® fashion and family apparel; and four of Canada's top-consumer brands in Life Brand®,
Farmer's Market™, no name® and President's Choice®.
SOURCE Loblaw Companies Limited