VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 2, 2015) - Port Metro Vancouver today released its 2014 annual reports, including its sustainability and financial reports. The reports are a summary of overall performance, and are intended to provide transparency and accountability to the work of the port authority.
"We are well known for our role in supporting trade and the Canadian economy, which is one of three pillars of our legislated mandate," said Robin Silvester, President and Chief Executive Officer of Port Metro Vancouver. "But we are also an industry leader in environmental programs and in community engagement. We are very proud of our approach to sustainability and ongoing work to protect the environment and engage with communities, which are highlighted in these reports."
2014 Sustainability Report
Port Metro Vancouver's 2014 Sustainability Report provides an overview of the port authority's environmental, social and economic performance over the year. The report highlights the significant ongoing work and collaboration with government, terminals, tenants, customers, communities and other stakeholders towards the sustainable development of Canada's largest port. Stakeholders were engaged to create a definition of sustainability for the port, the three themes of which - delivering economic prosperity through trade, maintaining a healthy environment, and enabling thriving communities - provide the structure of the report.
Key accomplishments outlined in the 2014 Sustainability Report include:
- Completion of 265 environmental reviews in accordance with our environmental policy and the Canadian Environmental Assessment Act, 2012
- Finalization of a new Land Use Plan, which defines how federal port lands will be managed over the next 15 to 20 years
- The launch of key environmental initiatives including an air quality monitoring program in partnership with Metro Vancouver, and the Enhancing Cetacean Habitat and Observation (ECHO) Program to better understand and ultimately minimize the impact of port-related activities on marine mammals along the southern coast of B.C.
- Completion of several significant infrastructure projects, increasing the ability of the gateway to handle growing trade while minimizing traffic and other impacts on communities.
2014 Financial Report
Port Metro Vancouver's Financial Report includes audited financial statements and a thorough management analysis. The report was prepared in accordance with international financial reporting standards.
Accomplishments outlined in the 2014 Financial Report include:
- Affirmation of a AA credit rating by Standard & Poor's for the fifth consecutive year
- Completion of five major capital projects on schedule and within budget, including the Low Level Road, the South Shore Corridor, the Powell Street overpass, the 232nd Street overpass, and the overpass component of the Deltaport Terminal, Road and Rail Improvement Project
- Discounts of $1 million in harbour dues through our EcoAction Program for vessels going beyond regulatory requirements to reduce emissions
About Port Metro Vancouver:
Port Metro Vancouver is Canada's largest port and the third largest tonnage port in North America, responsible for Canada's trade with more than 160 world economies. Located in a naturally beautiful setting on Canada's west coast, Port Metro Vancouver is responsible for the efficient and reliable movement of goods and passengers, and integrates environmental, social and economic sustainability initiatives into all areas of port operations. Port Metro Vancouver is committed to meaningful engagement with the communities in which it operates and the shared obligation to improve the quality of life for Canadians. Enabling the trade of approximately $187 billion in goods annually, the port generates an estimated 100,000 jobs, $6.1 billion in wages, and $9.7 billion in GDP across Canada. As a non-shareholder, financially self-sufficient corporation established by the Government of Canada, Port Metro Vancouver operates pursuant to the Canada Marine Act and is accountable to the elected federal Minister of Transport.
For more information
Backgrounder: Port Metro Vancouver's 2014 Sustainability and Financial Reports
Contact Information:
John Parker-Jervis
Media & Government Affairs Advisor
604-665-9267
john.parker-jervis@portmetrovancouver.com