Economic GRI Performance Indicators
EC8 – Development and impact of infrastructure investments and services provided primarily for public benefit through commercial, in-kind, or pro bono engagement, and
EC9 – Understanding and describing significant indirect economic impacts, including the extent of impacts.
How We Directly Benefit Stakeholders
Enbridge adds value to the economy by reliably and economically delivering energy to the regions we serve. Additional economic benefits that we contributed are summed up in the following charts:
| Direct economic value generated and distributed (Enbridge Inc.) (million) | ||
| 2007 | 2006 | |
| Revenues | $11,919.4 | $10,644.5 |
| Expenses | $10,770.1 | $9,496.2 |
| Employee compensation | $595 | $517.2 |
| Donations and other community investments | $8.3 | $5.2 |
| Retained earnings | $2,537.3 | $2,322.7 |
| Payments to capital providers and governments | $946.4 | $768.3 |
| Distribution of economic value added – 2007 (Enbridge Inc.) | |
| Income taxes paid to governments | $226 |
| Interest payments to lenders | $607 |
| Dividend payments to shareholders | $452 |
Shareholder Focused
Enbridge Inc. shareholders realize returns through a combination of capital appreciation and dividends. In 2007, we paid $452 million to Enbridge Inc. shareholders as dividends, and in 2006, we paid them $403 million as dividends. For information on shareholder/unitholder returns for Enbridge Income Fund, please visit www.enbridgeincomefund.com; for Enbridge Energy Partners, please visit www.enbridgepartners.com/eep/; and for Enbridge Energy Management, please visit www.enbridgemanagement.com/eeq/.
Employee Focused
Our business operations provide jobs and contracting opportunities in many communities in Canada, the U.S. and internationally. Headquartered in Calgary, we have major offices in Edmonton, Toronto and Houston, and numerous field offices in our areas of operations, including Colombia. We have more than 5,700 employees with an annual payroll of about $434 million. In 2007, we paid about $74 million through our annual incentive program to reward employee performance.
Customer Focused
Every day through our energy transportation and distribution systems in Canada and the U.S., we provide millions of people with hydrocarbon products that are essential to quality of life. These products provide fuel for transportation, heat for our homes, and the resources to manufacture plastics and a wide range of consumer products.
We also work with our gas distribution customers to increase the efficient use of valuable energy resources. Enbridge Gas Distribution’s demand-side management (DSM) programs help customers conserve gas, saving them money and enabling them to contribute to environmental goals. Since 1995, we have helped customers reduce their natural gas consumption by 3.6 billion cubic metres through participation in our DSM programs. This amount translates into the avoidance of almost seven million tonnes of carbon dioxide emissions being released into the atmosphere. Measures like these move Enbridge closer to realizing our emission reduction targets, despite the pressures of significant growth in our customer base.
Nationally Focused
In addition to meeting society’s need for secure supplies of energy through our core business of transporting natural gas and petroleum products, Enbridge’s activities benefit North Americans in other ways. For example, we pay income and property taxes to local, state, provincial and federal governments in Canada and the U.S., which use the funds to operate public services and infrastructure. In 2007, we paid $226 million in income taxes and $113 million in property taxes in the two countries.
Community Focused
At the local level, our operations affect economies through job creation, the purchase of goods and services, and the taxes we pay to governments. We also invest in community programs and charitable organizations. In 2007, we invested $8.3 million in charitable and non-profit organizations in Canada and the U.S.
Investor Indices
A number of investor indices provide business rankings based on information about organizations’ social, ethical and environmental policies and practices. These indices are based on the concept that a company’s commitment to CSR will sustain and grow long-term shareholder value. Enbridge is included in the following indices:
- Ethibel Sustainability Indices (ESI) – Pioneer & Excellence
- Jantzi Social Index (JSI)
- Dow Jones Sustainability Index (North America)