Air Canada Issues First TCFD Report

Air Canada has issued its first report aligned with the Task Force on Climate-related Financial Disclosures (TCFD).

Michael Rousseau, President and Chief Executive Officer at Air Canada, said: “We are proud and pleased to release our first TCFD-aligned report, reinforcing Air Canada’s long-standing commitment to transparency on Environmental, Social, Governance (ESG) matters, while underscoring our ongoing work towards achieving our long-term goal of net-zero greenhouse gas (GHG) emissions globally by 2050.”

Rousseau continued: “Our objective is to provide investors and other stakeholders the necessary information to properly evaluate climate impacts and performance. This will also support our business development as we work to decarbonize and transform our industry with positive changes to help protect our planet for our employees, customers and communities, now and well into the future.”

Air Canada’s TCFD report addresses its governance structure, strategies, risk management and practices as they relate to climate change. The airline’s TCFD report complements its annual CDP (Climate Disclosure Project) disclosure report and corporate sustainability report (Citizens of the World). Since 2019, Air Canada has also been reporting to Transport Canada in relation to the ICAO Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which applies to certain international flights and is aimed at achieving the aviation industry’s carbon neutral growth target.

The Financial Stability Board (FSB) established the TCFD, an industry-led disclosure task force to develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders. More information about TCFD is here.

To download the 2022 Air Canada TCFD report, please click here. For more information on Air Canada’s environmental and sustainability programs, please visit our Leaveless site.

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