2001 Triple Bottom Line Report - BC Hydro

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Our focus on sustainability is a clarification of where we are headed, not a fundamental change to what we are doing. It provides an enduring, powerful and meaningful objective for the corporation, M O V I N G A H E A D Sustainability means we must become better at the things we already do well, including optimizing the use and health of our energy assets; protecting and enhancing electricity trade; building on our hydroelectric potential; focusing on customer service; building results-oriented relationships with employees and other stakeholders; bringing focus and direction to our contributions to society; protecting the environment; practicing eco-efficiency; and offsetting our greenhouse gas emissions. Sustainability also means BC Hydro will have to seize new opportunities to harness green energy sources for domestic supply or export; pursue sustainable business ventures such as hydrogen and fuel cell development; expand our Power Smart programs for residential customers; and extend demand-side management initiatives for commercial and industrial accounts. Most of all, however, sustainability means we must become a culture determined to be innovative in order to create value. C O R P O R A T E D I R E C T I O N | 7 We will have to recruit more highly skilled staff to succeed our aging personnel, and ensure that employees and the company work together to create a customer-focused company. Employees are the base of our strength, and lead all advances towards a brighter energy future. While pursuing innovative ways to transform our business, we must not lose sight of our fundamental attributes – especially our reputation for solid, day-to-day operational effectiveness. Another significant challenge to a sustainable future for BC Hydro is the mix of energy resources used to meet customer demand. Environmental, social and economic considerations indicate that additions to our supply portfolio will most likely be thermal, not hydropower. Thermal generation increases our GHG emissions and contributes to climate change. M I S S I O N BC Hydro is committed to providing integrated energy solutions to our customers in an environmentally and socially responsible manner. V I S I O N A competitive commercial Crown corporation which creates superior value for our customers and shareholder through the exceptional contribution of our people. G O A L To be the leading sustainable energy company in North America. as well as a focus and framework to build on our existing strengths, and addresses the challenges facing our business.
G O V E R N A N C E We have a governance framework in place to provide the leadership for ongoing success. Our Board of Directors is appointed by the Lieutenant-Governor in Council and is accountable to the Province of British Columbia for the performance, actions and risks of BC Hydro and its subsidiaries. The Board is also responsible for charting the corporation’s strategic direction. The Board strengthened our existing framework in January 2000 by updating a number of policies and procedures, including those addressing Codes of Conduct for directors and employees. A L I G N I N G A C T I O N T O S T R A T E G Y Incorporating sustainability into the core of BC Hydro’s business activities is done through the Value Based Management (VBM) program. VBM provides the basis for integrating management processes and focusing the entire organization on achieving business results. We use VBM to manage our business, including aligning operations to strategy. VBM involves developing management tools, including Strategy Maps and Scorecards, that are used first to communicate strategy, C O R P O R A T E D I R E C T I O N | 8 At the same time we expanded existing provisions to include explanations of processes for risk management and subsidiary accountability, and specific executive responsibilities for our Environmental Management System. Additional sustainability efforts include the decision to form a steering committee of senior-level company officials to direct our Sustainability Working Group, itself comprised of key managers from across the company and the project leaders for each of the initiatives undertaken through the Sustainability Action Plan. and then to align performance management, resource allocation, initiatives, planning and decision-making. Our Strategy Maps and Scorecards have been revised to integrate sustainability considerations into our management systems, ensuring balanced corporate-wide accountability on our three bottom lines. Finding ways to measure true critical success factors, such as intellectual capital and capacity to innovate, continues to be challenging.
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C U S T O M E R We create customer
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2001 Triple Bottom Line Report - BC Hydro

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