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Two Canadian energy companies score highly in responsibility ratings
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Westcoast Energy and TransAlta were among the top companies rated in a global survey of energy companies and corporate responsibility. A new study by Oekom Research AG, a social and environmental research firm based in Germany, assessed 20 international electricity and gas supply companies in terms of their corporate social and environmental performance. Oekom graded companies using a letter-based system ranging from A+ to D-. Oekom rated the companies in three categories: Environmental Ratings, Social Cultural Ratings, and Corporate Responsibility Ratings, which combine the first two categories. In terms of the overall Corporate Responsibility ratings, Westcoast Energy, a gas and pipeline company based in Vancouver, tied with UK-based Powergen and Austria-based Verbund for the top rating of B-. Regarding corporate social policies and performance (Social Cultural Category), Oekom said the energy sector has above-average performance on issues such as employee benefits, compensation and overtime pay, training, and retirement pensions. Westcoast shared the top score (also B-) in this category with Calgary-based Transalta and UK-based Centrica. In the environmental category, Verbund and Germany-based Bewag earned the top score of B. Westcoast Energy came third with a B-. Key factors in this category were the energy mix of the companies being analyzed as well as the use of co-generation. Gas companies were given high marks because of the superior energy efficiency of gas compared with other fossil fuels. Companies employing renewable resources such as solar, wind, biomass, and water, also scored higher ratings. Westcoast was given high marks for its three co-generation facilities. For more information, see www.socialfunds.com and Oekom Research.
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