Case study: How AltaGas creates economic value for its stakeholders
AltaGas is a leading North American energy infrastructure company that connects customers and markets to affordable and reliable sources of energy, serving approximately 1.7 million residential, commercial and industrial customers in five jurisdictions in the U.S. Delivering growth in sustainable value for all its stakeholders, is a top priority for AltaGas. Tweet This!
This case study is based on the 2021 ESG Report by AltaGas, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Abstract
Guided by its unwavering commitment to its Core Values and mission, AltaGas remains focused and balanced to do the right thing for its stakeholders and generate long-term value for all. In order to create economic value for its stakeholders AltaGas took action to:
- create economic value for shareholders
- create economic value for the state
- create economic value for communities
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With this case study you will see:
- Which are the most important impacts (material issues) AltaGas has identified;
- How AltaGas proceeded with stakeholder engagement, and
- What actions were taken by AltaGas to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 ESG Report AltaGas identified a range of material issues, such as safety and reliability, cybersecurity, energy affordability, diversity and inclusion, community partnerships. Among these, creating economic value for its stakeholders stands out as a key material issue for AltaGas.
Stakeholder engagement in accordance with the GRI Standards
The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:
Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.
Key stakeholder groups AltaGas engages with:
To identify and prioritise material topics AltaGas engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Employees | · Employee engagement surveys and pulse checks · Town Halls, lunch and learns and senior leader talks · Intranets and newsletters · Employee Resource Groups (ERGs) · Talent development and succession planning · Through internal communications campaigns |
| Utilities Customers
| · Media releases · Social media posts and website · Walk-in offices and call centres · Customer newsletters and handbooks · Direct mailings and email campaigns · Customer feedback surveys |
| Midstream Customers
| · One on one meetings · Industry associations and affiliations · Conferences and panel discussions · Customer appreciation events · Facility tours |
| Communities, Including Indigenous Communities
| · Open houses · Community walks · Local and social media outreach · Community newsletters and brochures · Collaboration with local organisations |
| Shareholders and Investors
| · Annual and quarterly financial reporting and conference calls · Annual shareholder meetings · Management led investor conferences, meetings and presentations · Board led shareholder engagement |
| Government and Regulators
| · Ongoing dialogue with regulators and policy makers (local, provincial/state, federal levels) · Meetings, conferences and panel participation · Trade association and industry representation · Regulatory filings and written submissions · Facility tours |
What actions were taken by AltaGas to create economic value for its stakeholders?
In its 2021 ESG Report AltaGas reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for shareholders
- In 2020, AltaGas paid $ 268 million in dividends.
- Creating economic value for the state
- In 2020, AltaGas paid $ 23 million in income tax and $ 89 million in property taxes.
- Creating economic value for communities
- In 2020, AltaGas spent $ 5.3 million in community investments.
Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?
The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed
Disclosure 201-1 Direct economic value generated and distributed corresponds to:
- Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
- Targets: 8.1, 8.2
- Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
- Targets: 9.1, 9.4, 9.5
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References:
This case study is based on published information by AltaGas, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
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