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Leadership in governance

When EPCOR was formed in 1996, it was unique – the first strategic linking of a power and water utility in Canada, and a dynamic market-oriented organization with a mandate to grow beyond its hometown and create value for its sole shareholder, the City of Edmonton.

To steward this vision, the shareholder established an independent Board of Directors, composed of business and community leaders, with no employees or elected officials on the board. Over the subsequent quarter-century, this model has proved resilient and successful, winning EPCOR national recognition for excellence in corporate governance, preserving value through rigorous risk management processes, and growing the company into a North American leader.

 

This success of EPCOR's governance model has delivered significant value to the shareholder. EPCOR's annual dividend has grown from $62 million to $171 million – and despite market transformations, a financial crisis, and a global pandemic, the annual dividend has never been cut.

The board is responsible for the overall stewardship and governance of the company, delivering long-term value to our shareholder and ensuring we provide clean water and safe reliable energy to our customers, and foster success with all our stakeholders.

EPCOR is committed to demonstrating leadership in corporate governance, and continuously reviews and improves our governance systems to ensure they meet or exceed the standards of evolving securities, regulatory and market environments.

See our statement of corporate governance practices and features

​Scorecard at a glance

The following selection of performance measures, performance data and targets speak to the importance we place on governance. Our commitment to diversity and ethical operations is evident through our strong performance in this area.​

Board independence

Percentage of directors who are independent under National Instrument 58-101

Board gender diversity

Share of board seats held by women

Content here

Employee ethics training

Percentage of employees who have received training on EPCOR's Ethics Policy

Ethics complaints actioned

Percentage of the 86 ethics complaints received in 2020 that were investigated or otherwise resolved

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​Targets

Targets are:

  • At least 67% of directors are independent under National Instrument 58-101
  • At least 30% of board seats are held by women
  • 100% of employees have received ethics training
  • 100% of ethics complaints have been investigated or otherwise resolved

​Behind the numbers: scorecard in co​​ntext

Our governance scorecard:

Affirms the foundational role of board independence, reporting on the percentage of directors who are independent under National Instrument 58-101. EPCOR has reported on director independence since the company's inception in 1996.

Promotes the company's commitment to diversity, reporting on the gender composition of the board and our representation threshold.

Upholds the commitment to high ethical standards, reporting on emplo​yee ethics training, and the volume and handling of ethics complaints. In addition, the company provides multiple channels for anonymous reporting, promotes the reporting of complaints and concerns, has a no retaliation policy to protect whistleblowers, and is committed to independently investigating every complaint.

​Featured story

EPCOR’s commitment to excellence, sound decision making and diversity starts at the very top.

 

A look inside: Board diversity at EPCOR

Ensuring EPCOR’s Board of Directors is reflective of the people and communities we serve, as well as balances a broad range of skills, experience and attributes is an ongoing process.

Learn more from our Board Chair

​Governance outlook: Opportunities for continuous improvement

EPCOR has a sustained record of high performance on board independence, ethics conduct and monitoring, and corporate reputation.

The company's commitment to equal the governance of the best publicly-traded firms requires an ongoing evaluation and evolution in the company's governance practices – and consideration of changes in regulatory and market context. As our practices change, we expect to update our Statement of Corporate Governance Practices, and provide commentary on those changes in future ESG reports.

We continue to monitor the potential for diversity reporting practices to expand and include additional attributes. For example, as of 2020, publicly-traded corporations governed by the Canada Business Corporations Act are required to provide additional diversity disclosures respecting Aboriginal persons, visible minorities and persons with disabilities on the board and senior management. While EPCOR is incorporated pursuant to the Business Corporations Act (Alberta) the company continues to track the evolution in disclosure requirements, and consider the expansion of diversity reporting to include additional attributes in future reports.

​Additional resources

Here's some more information on EPCOR’s governance strategies, programs and performance.

​Resource
What you'll find​
Annual Information Form
  • Information on EPCOR's Board of Directors, including biographies, number of meetings, recruitment and appointment procedures, and standing committees (pages 32–40)
  • Statement of Corporate Governance Practices (Appendix II, pages 66–69)
Management's Discussion and Analysis     
  • EPCOR's overall approach to risk management and the roles of board and management in that process (page 29)
  • The company's principal risks, including risks related to topics discussed in this ESG report (starting on page 30)
Who We Are and What We Do
  • EPCOR's operating companies and detailed information about operations across EPCOR's jurisdictions
  • Leadership and board membership
  • Mission, vision and values
  • Financial information
  • Corporate governance structure overview
  • History

News & Announcements
  • News releases for Canadian and U.S. operations, including financial reports, major projects, acquisitions and other announcements

Annual General Meeting Online Feature
  • Snapshot of EPCOR's operations today
  • Operational and financial performance
  • Key growth areas and outlook for future growth
  • Support for customers, communities and employees