Canada's Leading Companies Commit to Meaningful Action on Climate Change

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Dec 09, 2020, 07:30 ET

Sustainability Leaders Call on Other Canadian Companies to Join their Efforts

MISSISSAUGA, ON, Dec. 9, 2020 /PRNewswire/ - Today, Maple Leaf Foods Inc. (TSX:MFI) and a coalition of Canada's leading corporations, shared a unified commitment to four strategic actions to protect the environment and ensure a sustainable, equitable and healthy future for all Canadians.

Companies that have signed the sustainability commitment to date include Maple Leaf Foods, CN, and Celestica Inc.

Their Paris Climate Accords-aligned commitments cover four key areas to be addressed by each signatory company in its own sustainability strategy:

Reducing Carbon Emissions: We recognize the threat of climate change and the devastating consequences it has on the future of the planet. We acknowledge the urgent need to act, and we commit ourselves to reducing our greenhouse gas emissions aggressively as we transition to a low-carbon economy.
Setting Science Based Targets: We are each among the eight companies in Canada and the 526 companies globally that have set emissions reductions targets through the Science Based Targets initiative in line with the Paris Agreement on Climate Change and climate science. We believe that corporations can play a major role in reducing global greenhouse gas emissions and we have set targets aligned with climate science to future-proof our growth.
Resource Stewardship: We are committed to ensuring our company operations follow sustainable practices to ensure our products and services are responsibly sourced, manufactured and distributed to Canadians. We believe in ensuring a healthy future and healthy planet for generations to come and pledge to minimize our environmental footprint and restore the planet.
Sustainability Reporting: We are measuring our performance and reporting on our emissions reduction initiatives to track our progress and uphold corporate responsibility and transparency with Canadians.

"In 2019, Maple Leaf Foods became the World's First Major Carbon Neutral Food Company and is the only food company in Canada to adopt science-based emissions targets that are aligned with the goals of the Paris Agreement on Climate Change," says Michael McCain, President and CEO at Maple Leaf Foods. "If we can do it, others can too. We are proud to be a leader in sustainability and urge Canadian organizations to join us in our ambitious goal and take meaningful action to decrease greenhouse gas emissions and nurture a Better Planet for all."

The sustainability commitment is in direct response to Canadians' belief that corporations have a responsibility to make positive environmental change. In fact, a recent study conducted by Angus Reid showed that 91% of Canadians expect companies to do their part to protect the environment and reduce carbon emissions, and 88% think companies should be doing more to protect the environment.

"We are proud to serve North Americans every day and recognize the responsibility we have to act in the interests of generations to come," explained JJ Ruest, President and Chief Executive Officer of CN. "As a historic nation building company and a modern trade enabler, we are motivated to ensure an environmentally sustainable future for all Canadians by offering sustainable transportation solutions to our customers and supply chain partners. We are committed to playing a key role in the transition to a low carbon economy."

Climate change is a matter of public concern and transparent sustainability communications are a key component of any corporate sustainability commitment. Transparent and ongoing communications demonstrate to Canadians' that organizations are committed to making positive environmental change and addressing the climate crisis now.

"For the past 10 years, sustainability has been integrated into everything we do and we firmly believe that our goals cannot be met by one person, or one organization alone, but through the power of many," says Rob Mionis, President and Chief Executive Officer, Celestica. "Collaboration is at the core of our sustainability strategy and we are proud to unite with these ambitious Canadian companies to take a stand against climate change and encourage others to join us in our sustainability commitment."

Organizations interested in joining the sustainability commitment can contact Maple Leaf Foods at [email protected] or learn more about the Science Based Targets initiative at sciencebasedtargets.org.

About Maple Leaf Foods

Maple Leaf Foods is a producer of food products under leading brands including Maple Leaf^®, Maple Leaf Prime^®, Maple Leaf Natural Selections^®, Schneider's^®, Schneiders^®, Country Naturals^®, Mina^®, Greenfield Natural Meat Co.^®, Lightlife^®, Field Roast Grain Meat Co.™ and Swift^®. Maple Leaf employs approximately 13,000 people and does business in Canada, the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI).

Maple Leaf Foods CEO, Michael McCain, and sustainability leaders at Maple Leaf Foods are available for comment and interviews on the company's commitment to sustainability. For media requests, please contact: Maple Leaf media hotline at [email protected]

About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada's Eastern and Western coasts with the Southern tip of the U.S. through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.

For more information or interview requests please contact: Jonathan Abecassis, Senior Manager Media Relations (514) 399-7956 [email protected], Paul Butcher Vice-President Investor Relations (514) 399-0052 [email protected]

About Celestica Inc.
Celestica enables the world's best brands. Through our recognized customer-centric approach, we partner with leading companies in aerospace and defense, communications, enterprise, HealthTech, industrial, capital equipment, and energy to deliver solutions for their most complex challenges. As a leader in design, manufacturing, hardware platform and supply chain solutions, Celestica brings global expertise and insight at every stage of product development - from the drawing board to full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine, develop and deliver a better future with our customers. For more information, visit www.celestica.com.

For interview requests please contact: Celestica Global Communications (416) 448-2200 [email protected], Celestica Investor Relations (416) 448-2211 [email protected]

Forward-Looking Statements

This news release contains forward-looking statements related to each participating company's environmental performance, sustainability and emission reduction strategies, initiatives, commitments, and efforts, as well as their anticipated effectiveness. As to each participating company, such forward-looking statements are based on the current expectations and assumptions of the management of such company, and are subject to risks, uncertainties and other factors (many of which depend upon future events), that could cause actual outcomes to differ materially from those expressed in such statements, including, among others, risks and factors related to: the ability of such company to implement the actions required to achieve emissions reductions and sustainability commitments as intended; the effectiveness of such actions; changes in requirements deemed necessary by climate science to achieve the goals of the Paris Accord; the cost of implementing intended actions; the impact of changing legislation, regulatory initiatives and social responsibility and sustainability initiatives generally; as well as risks related to each participating company's operational performance. These forward-looking statements are based on current expectations, estimates, forecasts, and projections but there can be no assurance that the results or developments anticipated by each participating company will be realized. The forward-looking statements contained in this press release are based on various assumptions, including each participating company's ability to successfully: implement planned sustainability initiatives; invest in renewable energy; enhance cross-functional collaboration on sustainable solutions; and engage its full value chain on environmental sustainability practices, as well as assumptions related to the effectiveness and impact of such planned actions and science-based targets. While each participating company believes these assumptions to be reasonable under the current circumstances, they may prove to be inaccurate, which could cause actual results to differ materially (and adversely) from those that would have been achieved has such assumptions been accurate. Forward-looking statements speak as of the date on which they are made, and except as required by applicable law, each participating company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements herein are expressly qualified by these cautionary statements. For more information about assumptions and risks that may cause actual results to differ materially from those contained in the forward-looking statements set forth in this press release, please refer to each participating company's public filings.

For Maple Leaf Foods Inc., please refer to its Annual Management's Discussion and Analysis for the year ended December 31, 2019, its most Annual Information Form (both available on SEDAR at www.sedar.com) and its most recent Sustainability Report available at www.mapleleaffoods.com.

For Celestica Inc., please refer to its most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, and its most recent Annual Report on Form 20-F filed with, and subsequent reports on Form 6-K furnished to, the U.S. Securities and Exchange Commission (at www.sec.gov) and as applicable, Canadian Securities Administrators (at www.sedar.com).

For Canadian National Railway Company, reference should be made to Management's Discussion and Analysis (MD&A) in CN's annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators on SEDAR at www.sedar.com as well as on the U.S. Securities and Exchange Commission's website at www.sec.gov through EDGAR and available on CN's website at www.cn.ca/en/investor

Survey Methodology

From September 21-22, 2020 Angus Reid conducted an omnibus survey among 1,500 Canadians ages 18+. The margin of error—which measures sampling variability—is +/- 2.53%, 19 times out of 20.

SOURCE Maple Leaf Foods Inc.