Ballard Power Systems has proudly unveiled its fourth annual Environmental, Social, and Governance (ESG) Report, centered around the company's purpose of Here for LifeTM.

This comprehensive report showcases Ballard's remarkable performance throughout 2022 in the realms of ESG aspects, underscoring its unwavering dedication to transparency and environmental stewardship within the fuel cell industry.

The report embodies the inaugural year of focused actions, a direct result of Ballard's ESG strategy and its resolute pursuit of sustainability commitments and supporting initiatives. Additionally, the report includes vital information concerning Ballard's ESG governance, risk management practices, and overall performance.

Key Highlights from the 2022 ESG Report are as follows:

• Continued enhancement in ESG research ratings.
• In 2022, Ballard's fuel cell technology prevented the consumption of approximately 53 million gallons of diesel, effectively avoiding approximately 540,000 tCO2e.
• Witnessed a significant 20% decline in emissions intensity since 2019 across reported scope 1, scope 2, and scope 3 emissions.
• Presentation of the company's carbon-neutral plan by 2030, including pivotal goals for driving corporate emission decarbonisation.
• Achieved an impressive 88% annual employee retention rate.
• Demonstrated a remarkable 14% increase in women representation at the senior leadership level since 2019.
• Educated over 125,000 students on hydrogen fuel cell technology through Ballard's Hydrogen Challenge Education Programme.
• Recorded a remarkable 63% decrease in lost-time injury rate year over year.
• Ensured 93% of total operating waste was recycled.
• Established a dedicated Sustainability and Governance Committee within the board to enhance ESG performance oversight.

Randy MacEwen, President & CEO of Ballard, stated, "At Ballard, we are forging ahead with innovative solutions, placing hydrogen-powered fuel cell products into the hands of customers, thus contributing to the global net-zero vision by 2050 and the imperative goal of limiting global temperature rise to 1.5 degrees Celsius."

Jennifer Nakata, Ballard's Director of Environmental, Social, and Governance, added, "In 2022, we accelerated our decarbonisation efforts by charting a roadmap and implementation plan to achieve carbon neutrality for corporate emissions by 2030. This outlines the priority actions, investments, timing, and policies required to decouple our business growth from emissions growth, alongside our continuous efforts to foster a diverse, equitable, and inclusive work environment."

Ballard demonstrates a strong commitment to ESG reporting best practices. For the 2022 ESG Report, the company has aligned its disclosures with the internationally recognised ESG reporting standards of the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) under the sector standard for 'Fuel Cell and Industrial Batteries'.

To access Ballard's 2022 ESG Report and learn more about the company's sustainability commitments, kindly visit www.ballard.com/about-ballard/our-sustainability.

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Source: Ballard