Canada's New Sustainability Reporting Blackstone Energy Services Releases 2024 Environmental, Social, and
Governance (ESG) Report

Toronto, [January 28, 2025] — Blackstone Energy Services Inc. (‘Blackstone’), a leading energy transition and carbon solutions company based in Ontario, released its 2024 Environmental, Social, and Governance (ESG) Report. This year’s report highlights significant progress, enhanced transparency, and innovative initiatives that reinforce the company’s commitment to a net-zero future.

The 2024 report, which aligns with International Sustainability Standards Board (ISSB) and Global Reporting Initiative (GRI) standards, introduces a new materiality matrix developed with input from internal and external stakeholders, identifying 15 ESG material topics critical to the company. It also features a newly implemented KPI tracking system to monitor progress toward science-based targets. Additionally, the report highlights Blackstone’s contributions across eight Sustainable Development Goals (SDGs), ensuring that initiatives implemented align with and advance global sustainability priorities.

Key Performance Highlights

  • Environmental Impact: Since 2019, Blackstone has spearheaded over 150 carbon and energy reduction projects, delivering 107,000 tCO2e in carbon savings. Through strategic partnerships with the Canada Infrastructure Bank (CIB) and Enbridge Sustain, the company secured $300 million to fund an aggregator program aimed at accelerating the energy transition. The company also enabled clients to access $35.5 million in incentives and grants, driving impactful environmental change.
  • Social Impact: In 2024, Blackstone achieved a 90% employee satisfaction score, reflecting its commitment to a supportive and engaging workplace. With 67% of employees representing underrepresented groups, the company demonstrates a strong focus on diversity, equity, and inclusion.
  • Governance Excellence: Maintaining a client retention rate of over 90%, Blackstone continues to prioritize best practices in health and safety, cybersecurity, and innovative energy solutions, earning trust from clients and stakeholders alike.

“At Blackstone Energy, our commitment to a sustainable future is unwavering. Our 2024 ESG Report reflects the progress we’ve made, guided by our passion, people, and pursuit of progress,” said Ryan Duffy, Blackstone’s CEO. “Our partnerships, such as those with the Canada Infrastructure Bank and Enbridge Sustain, represent transformative steps in helping clients reduce their carbon footprints and navigate the complexities of the energy transition. Together, we’re building a more resilient and prosperous future for all.”

Looking Ahead

Blackstone remains steadfast in its mission to drive innovation and lead Canada’s energy transition through impactful solutions that deliver lasting value for clients and communities. By 2030, the company aims to empower 60% of its clients to develop measurable net-zero pathways and achieve comprehensive decarbonization, ensuring all clients are on track to reach net-zero emissions by 2050.

Darlene Remlinger
PR Vice-president, Blackstone Energy Services
Email: dremlinger@blackstoneenergy.com
Website: https://blackstoneenergy.com/
LinkedIn: @BlackstoneEnergy