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53-424: The Portlands Energy Centre was originally owned and operated as a 50/50 joint partnership between Ontario Power Generation (OPG) and TransCanada Corporation (now TC Energy ). OPG acquired full ownership of the facility in 2020, and it is currently operated by OPG's subsidiary Atura Power. The technical specifications of the plant in the original submission of the environmental review report (a less rigorous form of

106-548: A small modular reactor (SMR) at the Darlington new nuclear site, the only site in Canada currently licensed for a new nuclear build. The project is expected to be completed as early as 2028. OPG has made some investments in alternative electricity generation. By 2014, OPG had stopped burning coal to generate electricity. Thermal electricity-generating stations were traditionally coal-fired, creating problems caused by pollution. While

159-465: A 175 MW GE 7FA gas turbine generator, and other equipment. This proposed configuration was capable of producing over 272,000 per hour of steam for district heating. On September 18, 2006, TransCanada issued a press release announcing that Portlands Energy Centre L.P. had signed a 20-year Accelerated Clean Energy Supply (ACES) contract with the Ontario Power Authority for the power output of

212-411: A Climate and Economic Renewal Investment Plan. In 2006, Corporate Knights put forth a $ 100 billion carbon pricing plan for Canada to reach its Kyoto target, convening the first Energy Ministers' meeting on building a trans-canadian grid for transporting green electricity from where it is generated to where it is needed, In 2007, Corporate Knights helped put together a working group to explore

265-476: A Green Power Corridor transmission grid to enable the decarbonization of Canada's electricity supply. Option13, launched in 2008, to promote a unified price on carbon in the face of climate change. Ralph Nader and Corporate Knights' Toby Heaps published an article about it in The Wall Street Journal . In 2010, Corporate Knights supported Bill C-300 and testimony was given by Toby Heaps to support

318-473: A complete scope analysis before starting on the project. Due to the uproar over the large cost overruns and delays, an independent review committee was commissioned to examine the future role of OPG in the electricity sector; the future structure of OPG; the appropriate corporate governance and senior management structure; and the potential refurbishing of Pickering A Units 1, 2, and 3. Former federal Finance Minister and Deputy Prime Minister John Manley chaired

371-429: A diverse fleet that includes 65 hydroelectric stations and two nuclear stations, OPG's power is more than 99 per cent free of smog and greenhouse gas emissions." Prior to shutting down its coal-fueled generating stations, OPG attracted considerable controversy for the operation of coal-fired generating stations, which ranked among Canada's largest individual air pollution sources. This was mostly because Nanticoke housed

424-560: A full environmental assessment) to the Ministry of the Environment in November 2003 have been significantly altered. This was due to the government instructing Ontario Power Generation to stop participating in projects which use more environmentally acceptable generations systems, such as co-generation. Originally, the plant was described as two identical 275 MW power train systems, each comprising

477-479: A massive 3,900 MW of generation capacity in one site: it produced "the most pollution in one site" despite being a reasonably clean plant per megawatt of power. Nanticoke Generating Station was North America's largest coal-fired generating station and the single largest air pollution source for southern Ontario and northern New York state, attracting considerable criticism from environmentalists and legislators in both jurisdictions. OPG's Lambton Generating Station

530-527: A new corporate campus would be built in Clarington , Ontario, that will also house Ontario Power Generation's headquarters. On 13 February 2023, OPG announced they completed a deal to purchase the former head office building for General Motors of Canada in Oshawa , Ontario, for their new headquarters, with plans to open in 2024. Original plans called for a new building to be constructed in Clarington , Ontario, at

583-652: A reliable, clean source of base load electricity during refurbishment of the Darlington Nuclear Generating Station and the initial Bruce Nuclear refurbishments. Any plan to extend Pickering's life requires approval from the Canadian Nuclear Safety Commission (CNSC). OPG is currently working on a licence application to the CNSC for approval in 2018. On 2 December 2021, OPG announced a partnership with GE Hitachi Nuclear Energy to deploy

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636-433: Is a Crown corporation and "government business enterprise" that is responsible for approximately half of the electricity generation in the province of Ontario , Canada. It is wholly owned by the government of Ontario . Sources of electricity include nuclear , hydroelectric , wind , gas and biomass . Although Ontario has an open electricity market , the provincial government, as OPG's sole shareholder, regulates

689-479: Is a list of the fastest growing private and publicly traded Canadian companies whose business activities align with the transition to a global clean economy. In 2022, Alberta-based Eavor Technologies was the top-ranking private company and Ontario-based Next Hydrogen Solutions was the top-ranking publicly-traded company. The Corporate Knights EARTH INDEX is a measurement of the speed at which countries (by sector)] are reducing greenhouse gas (GHG) emissions relative to

742-696: Is published quarterly and maintains an editorial focus on climate change, responsible investing, and the ideas, actions and innovations that shape a sustainable economy. It is distributed in The Globe and Mail , The Washington Post , and The Wall Street Journal . In 2012, Corporate Knights was named "Magazine of the Year" by the National Media Awards Foundation. In 2019, following the publication of "The high cost of low corporate taxes" by Marco Chown Oved, Toby Heaps, and Michael Yow, Corporate Knights

795-603: Is the owner of four nuclear power plants . It directly operates Pickering Nuclear Generation Station in Pickering , Ontario and Darlington Nuclear Generating Station in Courtice , Ontario. OPG also owns the two nuclear power plants that make up the Bruce Nuclear Generating Station on Lake Huron in western Ontario, which are operated by Bruce Power under a long-term lease. OPG also operates three facilities for

848-698: The Nanticoke Generating Station , on Lake Erie in Haldimand County, Ontario, and the Lambton Generating Station were shut down, OPG did convert two other coal-fuelled power plants. Atikokan Generating Station in Atikokan , Ontario, was converted in 2012 to burning steam-treated wood pellets or "biomass" as OPG refers to it. "Biomass wood pellets are a sustainable fuel recognized as beneficial to climate change mitigation , as identified in

901-781: The Natural Resources Defense Council ; Phil Radford , executive director of Greenpeace USA ; Michael Brune , executive director of the Sierra Club ; Carter Roberts, CEO of WWF -US; Mark Tercek , CEO of The Nature Conservancy ; Robert Engelman , president of the Worldwatch Institute ; Erich Pica, president of Friends of the Earth ; Kevin Knobloch, president of the Union of Concerned Scientists ; Van Jones , president of Rebuild

954-505: The Northeast blackout of 2003 . The problem was that all but one of the reactors were tripped and allowed to poison out , preventing an early reconnection to the electricity grid . Once shut down, all nuclear reactors take several days to return to service. Another source of criticism was the extended and expensive refit to the reactor Unit 4 at the Pickering A Nuclear Station. In late 2003,

1007-461: The "Global 100 Most Sustainable Corporations in the World" and the "Best 50 Corporate Citizens in Canada".   Corporate Knights Inc. was co-founded in 2002 by Toby A. Heaps, Paul Fengler and Peter Diplaros. According to Heaps, the trio created the magazine as a "halfway house between Adbusters and Forbes." The magazine was first published in the wake of the accounting scandal at Enron and WorldCom with

1060-636: The $ 1.12 billion purchase of Cube Hydro, which includes 19 hydroelectric power plants in New York , Pennsylvania , Virginia , West Virginia and North Carolina . Corporate Knights Corporate Knights  is a media and research company based in Toronto , Canada, focused on advancing a sustainable economy. The company publishes a magazine,  Corporate Knights , and produces global rankings, research reports, and financial product ratings based on corporate and environmental sustainability performance, including

1113-626: The Biomass Sustainability Analysis Report by the Pembina Institute ", according to OPG. The company says that this generating station is "North America's largest 100 per cent biomass-fuelled power plant". Thunder Bay Generating Station in Thunder Bay , Ontario, was converted to using "advanced" biomass in 2014. "It is a solid biomass fuel ... has higher energy density and is hydrophobic (repels water) allowing it withstand

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1166-593: The Climate" with David Suzuki and Margaret Atwood . Corporate Knights has undertaken research model investment pathways for Canada to achieve its climate goals in a way that boosts the economy, including the Build Back Better Synthesis Report, which was backed in a letter signed by many Canadian business leaders and made into a short video. The analysis and data were also used to underpin a Citizen's Budget. Corporate Knights updated this work in 2022 with

1219-719: The Dream ; Bill McKibben , founder of 350.org ; Joe Romm , publisher of Climate Progress; and Ralph Nader , founder of Public Citizen . Corporate Knights worked with the United Nations’ Inquiry into a Sustainable Financial System to co-author A Review of International Financial Standards as they Relate to Sustainable Development . Corporate Knights also led a report with the United Nations Environment Programme . The report, Financial Centres for Sustainability: Reviewing Experience and Identifying Options in

1272-619: The Federal Minister of the Environment and Climate Change delayed a decision on OPG's DGR, causing a pause in the timeline for the EA decision to be issued. While the JRP had recommended to the federal government the project move forward based on the strong technical safety case, the Minister requested OPG provide further information. OPG has committed to provide the requested studies and additional information by

1325-719: The G7 , was commissioned by Italy’s ministry of the environment (MATTM) as part of Italy’s G7 Presidency that year. During the annual World Economic Forum in Davos, Switzerland, Corporate Knights hosts the Global 100 Davos Dinner and announces the year's most sustainable companies. The Annual Best 50 Corporate Citizens in Canada are announced each summer at a gala in Toronto. Awards of distinction are also presented at this event. Corporate Knights frequently hosts virtual events, such as "Fireside Stories for

1378-550: The PEC. The plant started delivering 340 MW of power to the City of Toronto in June 2008 in single-cycle operation and was fully operational with an output of 550 MW by the second-quarter 2009. Total capital costs are expected to reach $ 730MM. [REDACTED] Media related to Portlands Energy Centre at Wikimedia Commons Ontario Power Generation Ontario Power Generation Inc. ( OPG )

1431-633: The World , released each year in Davos during the World Economic Forum , and the Best 50 Corporate Citizens in Canada.   Since 2005, the Global 100 has looked to emphasize the impact of a company's core products and services. It is the best-performing global sustainability index (CKG100), with more than 10 years of history. Gartner's Market Guide for Corporate ESG Ratings and Research (June 2022) stated that among

1484-423: The board include John Herron, Selma Lussenburg, Scott McDonald, Jill Pepall, Jim Reinsch, James Sheppard, Anju Virmani, Tracy Primeau and Mary Filipelli. The financial situation at Ontario Power Generation has improved significantly since 2003. Its profits for 2005 were $ 366 million, and its credit rating was upgraded. In July 2006, Liberal Energy Minister Dwight Duncan described OPG's turnaround as "[o]ne of

1537-468: The council's work possible. Launched in June 2022, the Sustainable Cities Index is an interactive, crowd-sourced sustainability index for cities. To rank cities, Corporate Knights leveraged 12 key indicators of urban sustainability related to climate change, air quality, land use, transportation, water, waste, policy, and resilience. Stockholm was the top scoring city in 2022. The Future 50

1590-490: The creation of the Council for Clean Capitalism, a multi-industry group of leading Canadian companies dedicated to advocating for economic and social-policy changes that reward responsible corporate behavior and remove barriers to clean capitalism. The council's 10 members include Sun Life Financial , Vancity , Brookfield Global Integrated Solutions Canada and Teck Resources . Corporate Knights provides secretariat support to make

1643-449: The electricity in Ontario or 74.0 terawatt hours (TWh). Roughly 60 percent of Ontario's electricity is accounted for by three nuclear power plants: Pickering , Darlington and Bruce . No fatal accidents related to nuclear power have occurred in Ontario. Large Small Altogether there are 29 plants producing 127 MW of power. Defunct On 25 June 2019, Ontario Power announced

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1696-684: The elements while being stored outside," according to OPG. In March 2016, OPG and partners SunEdison Canadian Construction LP and Six Nations Development Corporation were selected by the Independent Electricity System Operator (IESO) to develop the Nanticoke Solar Facility , a 44 megawatt (MW) solar farm on and near the Nanticoke Generating Station site on Lake Erie. The company is proud of its achievements in reducing pollution. "Now, together with

1749-472: The end of 2016. OPG has also begun the process of building up to four new nuclear units at the site of its Darlington Nuclear Generating Station but in October 2013, the province of Ontario declared that the Darlington new build project would not be part of Ontario's long-term energy plan, citing the high capital cost estimates and energy surplus in the province at the time of the announcement. In January 2016,

1802-582: The existing Darlington Energy Complex. The decision was made to retrofit the empty building for economic and sustainability reasons. Clarington Mayor Adrian Foster issued a statement, saying he was "deeply disappointed" with the decision not to build in Clarington. Oshawa Mayor Dan Carter welcomed the news, saying he was "thrilled to welcome" OPG to Oshawa. OPG owns and operates generating plants that draw from nuclear, hydro-electric, combined gas, biomass, solar and some wind. In 2018, it generated about half of

1855-597: The extent of paid sick leave policies in the largest companies across North America and the world in the wake of COVID-19.   In 2020, Corporate Knights launched an open-nomination process to determine which corporate actions have had the biggest impact on improving the state of affairs on our planet. After reviewing a shortlist of 150 companies, four judges voted on their top 50 picks. Judges included Pierre Lussier, director of Earth Day Canada, John Oppermann, executive director of Earth Day Initiative, Adria Vasil, managing editor of Corporate Knights and Toby Heaps. Patagonia

1908-480: The incoming Liberal government fired the three most senior executives at OPG on the heels of a report that the retrofit of a single reactor at the Pickering nuclear plant had come in significantly over budget and three years behind schedule. The government also accepted the resignation of all remaining board members. Management underestimated the amount of work and complexity of the Unit 4 refurbishment project and failed to do

1961-461: The interim management of nuclear waste generated by OPG's 10 nuclear reactors and Bruce Power's eight nuclear reactors. The company is proposing to construct and operate a deep geologic repository (DGR) on the Bruce Nuclear site , adjacent to its present Western Waste Management Facility. The repository would provide permanent storage of low- and intermediate-level radioactive waste produced from

2014-1172: The main ESG research data providers, "Corporate Knights is the only provider to track the 'clean CapEx', clean R&D', and 'clean acquisitions' against a common taxonomy." Corporate Knights also acts as a research partner to the Sustainable Markets Initiative for the Terra Carta Seal , awarded to global companies that are leaders on sustainability and have credible net-zero plans, that was launched in 2021 by HRH The Prince of Wales at COP26 in Glasgow. Corporate Knights rankings are regularly cited in leading business publications, including Fast Company , The Financial Times , and Forbes . Corporate Knights’ Sustainable Economy Intelligence tracks corporate decarbonization efforts globally. Its research offers three-year trend analyses on sustainable revenue, sustainable investment, executive compensation alignment and related operational metrics.     In 2012, Corporate Knights Inc. spearheaded

2067-428: The objective of holding companies more accountable. The three founders believed that "if you want to make social change, it's through business." Heaps later coined the term "clean capitalism". Corporate Knights looks to highlight regional and national opportunities for the clean energy transition by acting as an advisor to corporations, governments and people working toward a more sustainable economy. Corporate Knights

2120-518: The operation of the Bruce, Pickering, and Darlington nuclear generating stations. In 2005, OPG initiated the regulatory approval process. Following a comprehensive environmental assessment (EA) process and two rounds of public hearings in front of a federal joint review panel (JRP), on 6 May 2015 the JRP issued the EA Report and recommended the approval of OPG's DGR to the federal government. In February 2016,

2173-461: The price the company receives for its electricity to be less than the market average, in an attempt to stabilize prices. Since 1 April 2008, the company's rates have been regulated by the Ontario Energy Board . In June 2019, it was announced that a new corporate campus would be built in Clarington , Ontario, that will also house Ontario Power Generation's headquarters. In February 2023, it

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2226-651: The province of Ontario approved plans to pursue continued operation of the Pickering Nuclear Generating Station to 2024. OPG will work with the Ministry of Energy, the Independent Electricity System Operator and the Ontario Energy Board to pursue continued operation of the Pickering Station to 2024. All six units would operate until 2022; two units would then shut down and four units would operate to 2024. Extending Pickering's operation will ensure

2279-533: The review committee. Peter Godsoe , Chairman of the Bank of Nova Scotia, and Jake Epp , a former federal Cabinet Minister, Chair of the Pickering A Review Panel, and interim Chairman of OPG, also sat on the committee. The experience of refurbishing Pickering A Unit 1 was significantly different with a much tighter adherence to schedule and budget. Unit 1 was returned to service in November 2005 providing 542 MW of generating capacity for Ontario's electricity system. It

2332-420: The speed required to deliver on their commitments. Ranking mutual funds and ETFs based on their financial and sustainability performance and ESG-aligned management commitments, Corporate Knights publishes an annual list of top responsible funds for the planet. The Better World MBA is an annual ranking of the world's most sustainable MBA programs. The Corporate Knights Paid Sick Leave Provision project assessed

2385-690: The untold stories of the last two years". On the local public relations side, OPG has won many awards for its performance as a "good corporate citizen". Most recently, OPG was named for the fourth year in a row to the Corporate Knights Top 50 Best Corporate Citizens in Canada. OPG regularly sponsors community events across the province and houses wildlife trails in the exclusion zones around its nuclear stations in Durham Region . The company's annual employee charity campaign has raised millions of dollars for charities across Ontario. In October 2008, OPG

2438-540: Was announced that OPG would instead purchase the former head office building of General Motors Canada in Oshawa , Ontario, for their new headquarters, planning to open by 2024. Ontario Power Generation was established in April 1999 as part of plans by the Progressive Conservative government of Premier Mike Harris to privatize the assets of Ontario Hydro and deregulate the province's electricity market. OPG

2491-470: Was awarded the Society for Advancing Business Editing and Writing ( SABEW ) Canada Silver Award for Investigative Reporting. The Corporate Knights research division produces global sustainability rankings, research reports and financial product ratings based on corporate sustainability performance. Corporate Knights publishes upwards of 10 annual rankings, including the Global 100 Most Sustainable Corporations in

2544-514: Was decided that Pickering Units 2 and 3 would not be restarted as the business case could not be made. In early December 2015, Ontario's Auditor General pointed out that OPG was importing wood products from Europe to burn at the Thunder Bay station "pushing the cost of the electricity it generates to 25 times higher than other biomass generators", or $ 1,600 per MWh. Subsequently, Ontario's Development and Mines Minister Michael Gravelle stated that OPG

2597-644: Was named one of " Canada's Top 100 Employers " by Mediacorp Canada Inc., and was featured in Maclean's . Later that month, OPG was also named one of Greater Toronto's Top Employers , which was announced by the Toronto Star . OPG regularly reports on its operational, safety and environmental record. The company publishes quarterly reports summarizing its performance in these areas. OPG purchased 9 million shares (1.5%) of former Crown corporation Hydro One , another Ontario Hydro successor company, in April 2016. OPG

2650-421: Was one of the five successor corporations to Ontario Hydro and assumed ownership of all generating stations. Wendy Kei is the chair of the board of directors. She was appointed as chairman on 27 June 2019. Ken Hartwick is the president and chief executive officer of OPG. He was appointed to this position on 1 April 2019, when the previous president and CEO, Jeffrey J. Lyash, resigned. Other current members of

2703-400: Was seeking a local company to produce the biomass fuel. Considering the ever-increasing cost of electricity to Ontario consumers, the hiring of CEO Jeffrey Lyash in the summer of 2015 created some criticism when it was revealed that Lyash would earn $ 775,000 per annum and that could increase to $ 1.55 million with bonuses if performance targets are met. On 10 June 2019, it was announced that

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2756-515: Was the second largest air polluter in the province. The Liberal government of Dalton McGuinty came to power in 2003 with a promise to phase out coal generation by 2007. However, for various operational and demand reasons this was not possible until 2014, when the last coal was burned in OPG's stations. The company also endured significant criticism concerning the slow return to operation of some of its nuclear generating stations which had been shut down by

2809-468: Was voted as the top green company. Speaking to the tradition of environmental protection in the White House, Corporate Knights named Theodore Roosevelt as the greenest president in U.S. history, followed by Richard Nixon . The selection was determined by a committee of leading environmentalists. Twelve individuals led their respective group's participation in the survey: Frances Beinecke , president of

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