PEOPLE, PRACTICE & PURPOSE QUARTER 2 2016
BLUMAR
SEAFOODS, CHILE
SASKPOWER
POWERING SASKATCHEWAN RESPONSIBLY
IMAGE RESOURCES
INTREPID EXPLORERS OF AUSTRALIA'S WEST COAST
CELSIA
A SOCIAL, ECONOMIC AND ENVIRONMENTAL APPROACH
EDITOR’S NOTE TEAM Editorial: Brian Jackson Susette Horspool Michael Minihan Production Karen Hue Jason Olayinka Arantxa Salas Cifuentes Arabella Sansegundo Mulero Research John Mills Joseph Philips
Hello Friends, we are delighted to share yet another quarter’s issue of The Sustainable Business Review. The first quarter started with what some might describe as a bang. Though market volatility persist in the first two months which was primarily driven by events including the size of China’s slow down, falling Oil prices and its impact on single oil dependent economies across the world and its impact on energy company finances. Commodity prices continue to fall as well and this continues to affect new project financing. As the first quarter comes to an end, uncertainty seems to be only certain thing in these challenging times and organizations have to redefine their roles and approach to absorb the uncertainties. This quarter we have brought you article on some very exciting companies with exemplary sustainability initiatives. We start off with our cover story Celsia Energy, a company whose internationalisation strategy has seen its operation become the second largest electricity provider in Panama and one of the largest in the region. This issue also features two other power providers including Nalcor Muskrat falls project and Saks Power two exciting power companies in Canada.
We have followed up with one of the most exciting mining projects in Latin America, Peru’s MMG Las Bambas mine project. This article showcases a company who is restoring pride in a local community. Another exciting project presented in this issue is Ontario’s Metrolinx and its integrated approach to sustainable transportation. We have also brought you an exciting airport development project in the St. Vincent; The Argyle international Airport development and its expected impact on the island’s economy. We continue our coverage in the Caribbean with stories on National Flour Mills Trinidad and Water Authority Cayman. This issue also includes a selection of exciting events to be held over the next few months. Finally don’t forget to click on the adverts to learn more about what these exciting companies have to offer. And also give us your feedback on our social media handles. We hope you enjoy this quarter’s edition
CONTENT QUARTER 2 2016 SPECIAL REPORT:
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CELSIA
pROFILE:
20 34 40 52 62 74 80 90 96
LAS BAMBAS COPPER MINE BLUMAR SEAFOODS CHILE METROLINX ONTARIO NALCOR- MUSKRAT FALLS SASKPOWER WATER AUTHORITY CAYMAN IADCL NATIONAL FLOUR MILLS IMAGE RESOURCES
Brian Jackson
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EVENTS:
SEVENTH CLEAN ENERGY MINISTERIAL (CEM7) Dates:1-2 June 2016 location: San Francisco, CA, US Energy ministers from the Clean Energy Ministerial's 24 participating governments will gather for CEM7, hosted by the United States in June 2016, to fully implement the CEM 2.0 vision of a more ambitious and effective CEM ready to respond to climate and clean energy challenges. Ministers will assess progress to date and launch new campaigns and efforts to drive progress in priority, high impact areas. As an implementation forum, the CEM will play a critical role in the Road from Paris to help countries deliver on their respective national clean energy goals and to build confidence and the capacity to increase ambition over time e-mail:CEMSecretariat@hq.doe.gov
www:www.cleanenergyministerial.org
G20 ENERGY SUSTAINABILITY WORKING GROUP MEETING #3 Date: 28 June 2016 Venue: Beijing, China The third meeting of the Energy Sustainability Working Group under the Group of 20 (G20) Chinese Presidency will take place on 28 June, in Beijing, China. Sustainable energy issues on the Chinese Presidency's agenda include advancing the implementation of the G20 Principles of Energy Collaboration and strengthening cooperation on energy access, renewable energy and energy efficiency. The G20 is an international forum for the governments and central bank governors from 20 major economies. It includes the European Union (EU), which is represented by the European Commission and the European Central Bank, and 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, the UK and the US. www:www.g20.org/English/G20Calendar/201512/t20151231_2098.html
INTERBUILD AFRICA 2016 17th - 20th AUGUST 2016 Expo Centre Nasrec Johannesburg, South Africa The largest trade show of its kind in Africa, hosting the full spectrum of building and related industries in residential, commercial and industrial development. Interbuild Africa has been running since 1968, and is the largest building services and construction exhibition in Africa, hosting the full spectrum of building and related industries in residential, commercial and industrial development. It offers new product launches, live demonstrations, technology innovations, conferences, seminars and professional expertise. Interbuild Africa 2016 and its co-located shows Glass Expo Africa, Plumbdrain Africa, EcoAfribuild, Wood World South Africa and Hardex Africa - provide exhibitors with an unrivalled platform to meet new and existing customers, launch new products, and build up an enviable list of new sales leads. For visitors this event is an extensive showcase of the latest innovations, products and services that the industry has to offer www:www.g20.org/English/G20Calendar/201512/t20151231_2098.html
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NEWS
INTERSOLAR NORTH AMERICA Exhibition: July 12–14, 2016 Conference: July 11–13, 2016 Intersolar North America, North America’s most attended solar event and premier networking platform, takes place July 12-14, 2016 in San Francisco. The event’s exhibition and conference both focus on the areas of photovoltaics, PV production technologies, energy storage systems and solar thermal technologies. Since being founded, Intersolar has become the most important industry platform for manufacturers, suppliers, distributors, service providers and partners of the solar industry. www.intersolar.us
8TH MIDDLE EAST & NORTH AFRICA SOLAR CONFERENCE AND EXPO MENASOL is the event you need to be at to secure a successful 2016 and beyond in MENA. The global event brings together leading PV and CSP executives operating successfully in the Middle East and North Africa that will grant you the keys to increase your share in this dynamic market. • 600+ peers and colleagues within your network so you can discuss and share ideas with the best minds in solar • 60+ leading stakeholders presenting: including C-Level, VP and Director level experts from the renewable, legal and finance industry along with high level government representatives to share their knowledge so you can operate with success in MENA • 20+ hours of dedicated networking including an awards ceremony, so you can connect with the movers and shakers of the solar world and collectively celebrate achievements • A plenary session 3 parallel technology tracks: Dedicated PV, CSP and wind tracks that will enable you to focus in your area of interest and expertise through case studies and focused sessions www.pv-insider.com/menasol
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BRAZIL WINDPOWER 2016 CONFERENCE AND EXHIBITION Date: 30 August to 1 September 2016
Rio de Janeiro • Brasil
Brazil Windpower 2016 – Conference & Exhibition is the largest wind power event in Latin America and, thus, the best opportunity to network and explore the marketplace. To be held in Rio de Janeiro/Brazil, from 30 August to 1 September 2016, the event gathers the main government authorities discussing the market growth at the congress, as well as the biggest players doing business at the trade show. Explore the best business opportunities in this segment, networking with the main stakeholders in a market that moves billions every year. It is time to guarantee your company’s participation in the largest wind power event in Latin America! info@brazilwindpower.org
www.brazilwindpower.org
NEWS
SINGAPORE INTERNATIONAL WATER WEEK 2016 Date: 10-14 July 2016
Sands Expo and Convention Centre, Marina Bay Sands. Singaore
The Singapore International Water Week (SIWW) is the global platform to share and co-create innovative water solutions. The biennial event gathers stakeholders from the global water industry to share best practices, showcase the latest technologies and tap business opportunities. SIWW is part of the strategic programme of the Singapore Government to grow the water industry and develop water technologies. Held in between the main SIWW editions, the SIWW Spotlight series are exclusive by-invitation events to continue the dialogue from SIWW and foster ongoing exchanges on pressing challenges faced by the water industry worldwide. This meeting of minds focuses on critical issues and discussions in greater depth, where the outcomes will shape the programme and content for SIWW. The 7th Singapore International Water Week will be held in conjunction with the 5th World Cities Summit and the 3rd CleanEnviro Summit Singapore, from 10 – 14 July 2016 at the Sands Expo and Convention Centre, Marina Bay Sands in Singapore. www.siww.com.sg
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CELSIA
CELSIA
A Social, Economic and Environmental Approach
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THE SUSTAINABLE BUSINESS REVIEW Celsia is Colombia’s fourth biggest energy firm and has a history going back to 1919, when it was started as Coltabaco, a tobacco firm founded in Medellín, until 2001 when it turned into an investment fund known as ColinversionesAfter a series of strategic investments over the years, in 2007 t h e company became focused on the Colombian energy sector, where it still operates today. By 2010, all of its assets were energy-related and in 2012, it converted to its current name, Celsia S.A. E.S.P. Celsia began a process of internationalization in 2014, when it acquired all of GDF Suez’s thermoelectric, hydroelectric and wind energy assets in Panama and Costa Rica for a price of US$840 million. The acquisition made it the second largest electricity generator in Panama. The firm has an installed capacity of 2,390 MW spread across 27 plants in Colombia, Panama and Costa Rica. Seven of these plants are located in Panama and Costa Rica. Notably, in Panama, Celsia has installed capacity of 484MW – allowing it to fulfil 19% of the country’s electricity demand and making it one of
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the largest providers in Central America. The company’s financials over the past few years have also been more than healthy. Celsia’s consolidated revenue in 2015 was US$ 1.344 million, exhibiting18% year-onyear growth. The fourth quarter results of
CELSIA 2015 showed EBITDA of just under US$40 million – with the annual EBITDA reaching US$249 million.
Celsia People Celsia employs over 1,400 employees, with 294of those working from its Central American bases. With 570,000 direct final users in Colombia, as well as millions indirectly served through supply to the distribution grids across the three countries it operates in, as well as several partner organizations, communities near its installations, suppliers and off-takers, it means the firm needs has to take account of a large amount of stakeholders in its decision making. Its maxim, “always work to generate value among stakeholders,” captures this importance. The Celsia stakeholder maxim doesn’t just refer to economic ties, but also the requirement to develop mutually beneficial relationships with its neighbouring communities, implementing practices to improve the quality of life of its employees and families, to have policies that allow for the development of its suppliers, and finally, a respect for all environments in which it operates and all the audiences with which it relates.
All of this in turn is driven by the firm’s core set of values: to give the very best so that the company and its stakeholders can grow together, to be agile and trustworthy, to dare to be different, and to enjoy making life easier for everyone – a motto that ties together everything the company does. Employees can also count on Celsia’s people management Quarter 2 2016 - The Sustainable Business Review
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THE SUSTAINABLE BUSINESS REVIEW Energy Equipments and Services Panama (EESPA) provides gas turbines services for the electric power sector. We specialized in the heavy duty gas turbines types, providing mechanical, electrical and I&C services. Our expertise includes boroscope inspection technics for evaluation and follow ups of the conditions of the rotating and static components of the unit. Boroscope inspection is one of the most valuable technic used for diagnosing, evaluation, follow up and decision making of the actual condition of the internal components of the turbine, main compressor and combustion parts, given early warnings and possible prevent a catastrophic failure of the most valuable assets; preventing unexpected shutdowns and revenue losses. EESpa highly recommend performing boroscope inspection on a programmed basis or at least once a year, depending on the mode of use of the unit. See more at www.eespapanama.com
CELSIA model, which seeks to attract, develop and retain its talent, provides a work environment where people will thrive, and endeavours to develop the quality of life of the employees.
Sustainability Celsia’s sustainability model is grounded in three dimensions: social, economic and environmental. The company maintains
an effective balance between the three components. In each area, Celsia strives to generate best-in-industry policies and practices. This commitment to sustainability has been noticed by several outside parties, including the prestigious Dow Jones Sustainability Index, which has noted Celsia for the progress it has made in its sustainability index. In 2016, the firm also joined a group of the most sustainable companies in the world, being listed on the RobecoSAM Sustainability Yearbook. The company is also part of other international initiatives such as the Global Compact, CEO Water mandate, Carbon Disclosure Project and the International Center for Hydropower. The firm’s commitment to sustainability can be seen, not just in its energy assets, but throughout the organization. For example, in Panama, the firm will finish construction of its Central American headquarters later this year. The building will have LEED energy certification, and will create an innovative space where employees and visitors can meet and work in harmony, in an atmosphere that at once is environmentally friendly and an enjoyable place in which to spend the working day.
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THE SUSTAINABLE BUSINESS REVIEW The Celsia Foundation is another aspect of the firm’s work in this area. Through several initiatives in Colombia, Panama and Costa Rica it has contributed to improve the living conditions of its stakeholders and the sustainability of the regions in which they live. The major focus of the foundation until now has been education and as of 2015, the firm had contributed to the education of over 90,000 people in Colombia alone. In Panama, the commitment to education can also be seen in the province of Colon, where Celsia has developed a functioning primary school for the Kuna community and also in the San Pedro community of Cativa, where the company has developed a program of positive values and leadership through the teaching of martial arts. 2015 also marked the firm’s first year of operations in Central America and it has already joined reforestation initiatives in Panama, signing an agreement with the Panamanian Association for the conservation of natural resources (ANCON) to support the “Alliance for the million” project which seeks to reforest one million hectares in that country over a 20year period. Also in 2015, the firm set in motion several projects whose aim was to improve the lives of the communities living close to its operations. One such project could be seen in the province of Chiriqui, where the firm installed
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a new well for the 2,000 strong community and all the necessary infrastructure to bring it to their community so that it arrived safe and potable. Elsewhere, in conjunction with the government, the firm made significant improvements to the access roads of communities in Guayabal and Zambranos.
Suppliers and contractors Aiming for sustainability across the board in its own country and others is made easier when a company carefully selects its partners. Celsia therefore spares no efforts in choosing the right partners for its different activities. Doing business with inadequate or unsuitable
CELSIA suppliers and contractors would not only undermine future work, but also potentially damage good work that the firm had already put in place through its electricity and sustainability initiatives. All partners should share the firm’s value and ethical culture, establish trust and teamwork and a sense of mutually beneficial co-operation.
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THE SUSTAINABLE BUSINESS REVIEW Celsia’s principal suppliers and contractors therefore include Man Diesel, the equipment manufacturer at the firm’s Catívá thermoelectric plant. Man Diesel, a German company with a strong presence in Panama, also provides Celsia with commercial and technical support. Elsewhere, GE and Alstom assist the firm with its design of new projects as well as the ongoing improvement of existing assets. Enercon provides servicing and equipment for Celsia’s Eólica Guanacaste plant. Celsia also has a range of local partners, however. Energy Equipment and Service, a Panamanian firm, helps it with servicing of tears and leaks in generators, skilled labour services for turbines and the supply of spare parts. Constructora RB, S.A. provides the rental of heavy equipment used in civil works, and Norcontrol Panama, S.A. provides quality
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control tests to TX as well as its generators.
Opportunities and the future The energy market in Central and South America is a fast-changing one. Entrants to the market have included everyone from Spanish
CELSIA and German firms to the Norwegian sovereign wealth fund. As such, Celsia is always looking for opportunities on the horizon. In electricity generation, it has identified opportunities in non-conventional renewable energy (solar and wind) in Colombia, Panama and Costa Rica that will represent an important complement to conventional energy sources. These projects will contribute to the current portfolio with
the stability of their flows and minor cycles of investment. It aims to continue on its growth path by maintaining its existing assets and approaching new segments, diversifying its portfolio and expanding its regional presence. All, of course, carried out with one eye on sustainability.
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LAS BAM COPPER MINE RESTORES DIGNITY OF LOCAL COMMUNITIES MMG is committed to operating the Las Bambas Copper Mine in a way that benefits all stakeholders, from their own company to the Peruvian government and local communities. From the steps the company has taken so far, it appears they will succeed.
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LAS BAMBAS COPPER MINE
MBAS
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Located in the heart of Peru’s Apurimac country 4,000 metres above the sea, Las Bambas open pit copper mine is expected to become the second largest copper mine in the world. Now owned and operated primarily by the Chinese government, it is one of China’s many recent investments in Latin America, mainly in the production of raw materials. Las Bambas produces a combination of metals: Copper, silver, gold, and molybdenum, all of which will be mined, although the immediate focus is on copper. The mine is expected to produce more than two million tonnes of copper concentrate in its first five years, and 450,000 tons of copper per year for the next twenty years. (Only 10% of the total land holding has been explored so far.) Glencorp Plc., a Swiss firm, started exploration and construction on the mine in June of 2012. In 2014 Glencorp sold the mine for US$5.85 billion to a consortium of companies owned by the Chinese government: Minerals & Metals Group Ltd (62.5%), GUOXIN International Investment Corporation Ltd. (22.5%) and CITIC Metal Company Ltd. (15.0%). On 15 January 2016, under the new ownership, the first load of 10,000 tonnes of copper left the Port of Matarani on the southern coast of Peru.
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LAS BAMBAS COPPER MINE
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POSITIVE OUTLOOK FOR construction progress in the Andes The site of Las Bambas copper mine is in one of the remotest regions of the Andes. The work on building the ore-extraction infrastructure comprised several crushing plants, tunnels and a dam. Contractors Bechtel have taken up the manifold challenges of this vast new facility located at over 4000 m above sea level, with Doka at their side as their partner for formwork technology as an experienced partner to work with it. As well as Bechtel’s positive experience with Doka on other projects in Latin America, Doka’s ability to quickly provide large quantities of formwork equipment, and the reliability of its safety systems, were key factors behind the award of the contract. The geographical location of the jobsites presented a great challenge in itself. Transporting formwork equipment from the depot to the mine can take up to a week. What is more, the situation on the ground means that the construction plan is very often changed at short notice: “Thanks to our decades of experience with large-scale projects, and to the flexibility of our formwork systems, we could always react very quickly to these changes”, explains Santiago Hidalgo, General Manager of Doka Peru.
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LAS BAMBAS
Mine Stakeholders The mine’s new operational managers are Minerals & Metals Group Ltd (MMG), which is the Chinese government’s mining arm in Australia. The company has a full sustainability program already implemented in the other five mines they own in Australia, the Congo, and Laos. MMG is 74% owned by China Minmetals Non-Ferrous Metals Company Ltd. Investments in Latin America by the Chinese government are growing phenomenally as that government seeks to fuel its own economic growth. Between 2001 and 2013 China invested $85 billion in oil, soybeans, and copper production from six Latin American countries. The Las Bambas mine in Peru is its latest acquisition. Mining accounts for 12% of Peru’s GDP and 57% of its exports. The Peruvian government, hoping to offset effects of the worldwide 2008 depression, encouraged Chinese investment in Las Bambas. Peruvian officials are doing what they can to support the transition, including providing workshops for the local people to help them understand the Environmental Impact Assessment (EIA) newly amended by MMG. The indigenous people in the region have inherited political disenfranchisement and distrust of large corporations taking over their traditional territories. MMG’s sustainability commitment has been critically helpful in this regard. In addition to creating a new town for dislocated landholders, the mine hired and trained 3,000 local workers.
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LAS BAMBAS COPPER MINE
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Mine Transfer Issues Any project take-over from another company requires changes, as the new owner modifies plans to fit their own goals. The mine’s original Environmental Impact Assessment (EIA), created by Golder Associates in 2010, needed new evaluations to support plan modifications. In 2014, SNC-Lavalin prepared addenda to update the project schedule, check potential effects of plant construction near the Challhuahuacho River, and evaluate its respective water management system. In 2015, Geoservice Ingenieria modified the EIA again to include potential effects of above-ground trucking and railroad shipments, as opposed to an underground pipeline. This January a new $490 million contract with Perurail took effect, covering the last leg (295 km) of ore concentrate shipment to the Port of Matarani 710 km southwest of Las Bambas. The agreement lasts 15 years with the option to renew. It includes shipment of all the ore mined by the company. The copper plant went into production in 2015 and the first shipment of concentrate went to China in February, 2016. The mine’s copper concentration plant was built with a capacity of 140,000 tones per day (constructed by GyM S.A.). Both the copper and molybdenum factories required outsized foundations, thick concrete walls to house the operations and sturdy steelwork to hold the machinery (built by Doka Perú SAC). They also required powerful crushers, with fasteners strong enough to stay tight during the rock crushing process (provided by Australia’s
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LAS BAMBAS COPPER MINE
& Successes Technofast). Electrical facilities and lines were set up by ABB Peru.
Sustainable Community & Worker Welfare During construction, Las Bambas employed more than 18,000 employees, many of them local to the Apurimac region, and contributed more than US$250 million to finance improvements in education, health, production development, capacity building, road networks and mobile communication services. EMSA built camps and field offices to house 7,500 of those people.
Since then, MMG has built a new town called Nueva Fuerabamba to house relocated families, and opened an office there to enable local people to apply for company jobs. The town consists of 441 houses, health care centres, a school, three churches, a community hall, an open market, and
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green park areas. MMG also provided plant nurseries and cattle to assist locals laid off from construction who can’t work the mines, and psycho-social retraining to help with relocation adjustments. The Peruvian government, meanwhile, set up workshops to discuss the impacts of the new EIA, including social infrastructure, mining and the environment, agriculture and livestock, and employment-social responsibility. And they prepared an urban development plan to ensure sustained growth of the community.
Environmental Concerns One of the thing local people were worried about was the health of the environment, especially their water supply. MMG has a good record of environmental care and consideration. When they dig for ore, they remove a minimal amount of topsoil and vegetation, in order to protect the biodiversity of the area and minimise the impact of the mine.
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LAS BAMBAS COPPER MINE At Las Bambas MMG acquired authorisation to use local water from the local water management authority, and took steps to protect it from contamination by mining activities. Recognising the importance of upper watershed protection, they also committed to identifying “bofedales� (high Andean wetlands) for future conservation purposes.
MMG is committed to operating Las Bambas in a way that benefits all stakeholders, from their own company to the Peruvian government and local communities. From the steps the company has taken so far, it appears that they will succeed. Divisions between locals and the Peruvian government have dissolved into mutual support for the mine and its prospects, and copper production is on its way.
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BLUMAR
SEAFOODS, CHILE
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BLUMAR SEADOODS
R
E
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With over 2,500 miles of coastline, it’s no surprise that Chile has one of the most prominent fishing and aquaculture industries
firm owns 50% of Saint Andrews, the largest mussel producer in Chile.
IN SEA AND
ON LAND The integration of fishing and aquaculture is just one way in which the firm is integrated. In fact, where Blumar differs from most of its competitors in Chile (and indeed, in other countries) is that its operations are integrated right across the board – in sea and on land.
in the world. One of the largest firm in that industry, Blumar, was formed in 2011 from the merger of Itata and El Golfo, two firms which themselves had been founded in the 1940s and 1960s respectively. As with many countries, Chile operates what’s known as an Individual Fishing Quota (IFQ), whereby each company is assigned a percentage of the fishing quota each year. Blumar currently has the largest share for Jack Mackerel, sardines and anchovies, hake and hoki. Fishing only constitutes about 50% of the Blumar business, however; the rest is consumed by aquaculture, with salmon farming and mussels dominant share of activity. The
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After fish are caught (or farmed), they are processed in Blumar’s own processing plants and then distributed by Blumar, through the company’s sales and distribution channels. In salmon, the company is involved from the egg, right through to fresh water hatcheries, open pen farming, processing and sales (which includes sales offices in the US and China). This level of vertical integration provides the company with better ability to plan and control its value chain, ensuring that the quality of the product can be ensured and that its developing relationships with the end client – by they in a traditional market like the US, or Blumar’s newer markets, China and Russia.
BLUMAR SEADOODS
CHALLENGES
IN THE INDUSTRY Fishing could justifiably be considered as one of Chile’s greatest natural resources after its
mineral deposits. Just like those minerals, the value of Blumar’s fishing stock can fluctuate wildly based on any number of exogenous factors. Even a precious resource comes with its challenges. To begin with, the fishing quota is constantly changing – be it due to government decree (as in the 1990s which led to a wave of consolidation in the industry) or natural factors (as in the case of the earthquake that Chile suffered in 2010 (which led to another wave of consolidation). Through adversity, comes strength: consolidation has been one of the saving graces of the industry, allowing its firms not just to survive, but to compete on a global level. For example, Blumar now co-operates in sales with three other Chilean firms in the Chinese market.
As Daniel Montoya, Commercial Director at Blumar recently explained: “we can see a certain stability in the fishing industry thanks to all the consolidation. I think the players operating there today are strong enough to survive. Of course, there are good years and bad years, but mostly it’s quite stable.” Farming brings its own challenges. Consolidation hasn’t been an issue – with around 20 Chilean companies active on the market. Here, challenges over the past five years alone have included declining market prices due to over-supply and even an ISA virus scare at the end of 2009 and through 2010.
CORPORATE SOCIAL
RESPONSIBILITY On top of its commercial commitments, Blumar is highly pro-active in the field of CSR; as Mr. Montoya states: “We are really committed to sustainability. Our work has a responsibility to the environment, the workers and the communities here in Chile. It has to take into account all their needs.” When Mr. Montoya joined the firm back in 1993, the concept of CSR was underdeveloped. It was enough for a company to take some pride in its home city and for it to be reciprocated. Mr. Montoya says: “Clearly, that just wasn’t enough and we needed to do more.”
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THE SUSTAINABLE BUSINESS REVIEW As a large employer in its city – Blumar employs just over 1,400 locals – there are a lot of different voices to take heed of. But being pro-active in CSR, the company can anticipate the workers’ requirements and concerns before they arise. This is as true for other stakeholders as it is for employees. Montoya says: “Everybody is conscious that the way we produce our products has to be environmentally sustainable. And certain standards under which we have to certify our production. We follow that trend. But then all this social responsibility is also important for buyers around the world. Our communities are empowered. They’re more educated. They understand the potential impact that the industry can have both on the environment and their whole
ALPHA JECT LiVac SRS Primera vacuna viva atenuada específica contra el SRS. Para mayor información dirigirse a nuestra página web o llamar a: +56 65 248 3091 www.pharmaq.com
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way of life. So they’re not willing to tolerate excesses that go beyond what they believe is acceptable.”
NAVIGATING
FOR THE FUTURE Blumar’s salmon exports to the United States comprise about 7% of Chile’s total. It finds itself in fith place among its exporters (2015). A look at the country’s sales over the past few years shows how volatile the business can be, even for the larger players in the market. Nevertheless, the emergence of Blumar five years ago has given the market something different: a fishing company and an aquaculture, both with considerable heritage, entering a 50-50 merger, to create a company which is not only vertically integrated but horizontally integrated too. When one is experiencing tough times, the other side can compensate. Daniel Montoya says: “We have a sound financial position because of our diversification. We’ve had positive years on the fishing side which has allowed us to keep our aqua culture operation running. We haven’t changed our stocking programs so that will give us production for the coming years.” That will be music to the ears of consumers of Blumar’s high quality produce all over the world.
BLUMAR SEADOODS
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METROLINX ONTARIO
ETROLINX
ARIO IS ON THE GO Quarter 2 2016 - The Sustainable Business Review
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THE SUSTAINABLE BUSINESS REVIEW Sustainability is a major pillar of Ontario Province’s Metrolinx expansion project. In the Greater Toronto area, public transportation used to consist of a few train lines, plus separate bus lines with their own rates, an airport connected to the city by roads, and highly congested traffic on regional roads and highways. Metrolinx is changing all of that with
its comprehensive mass transit plan. In 2006, the provincial government of Ontario mandated that the province invest heavily in transit infrastructure, and created Metrolinx to carry it out. Since then Ontario has invested billions of dollars in constructing new rail lines, integrating transit services, upgrading
stations, and setting up social media sites. The system now has 52 sets of trains, more than 500 buses, and will cover more than 11,000 square kilometres with public transit services.
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METROLINX ONTARIO Capital expenditures on the new system totalled $2,238 million in 2014-15, paid for by a combination of provincial, municipal, and
The Regional Transportation Plan is a long one by North American standards, carrying out to 2031 and requiring re-evaluation every five years. It is expected to cost about $50 billion and includes movement of goods, as well as people. Metrolinx developed its plan in collaboration with the Ontario Ministries of Transportation and Municipal Affairs & Housing
federal resources. In addition to upgrading stations and parking lots, and adding new buses and trains, Metrolinx developed a plan to start switching from fuelling trains with diesel to electricity, beginning with core sections in the Georgetown and Lakeshore areas.
to make sure their respective land-use, growth, and investments plans supported each other. To ensure that sustainability was built into every aspect of the business, Metrolinx established a Metrolinx Green Team, Quarter 2 2016 - The Sustainable Business Review
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METROLINX ONTARIO consisting of 200 “sustainability champions” throughout the organisation. These champs engaged stakeholders, customers, and other employees in developing a basic strategy framework to report on the social, economic, and environmental impact of the business. They defined sustainability metrics and developed an action plan to improve performance.
from the road during its first year of operation. To keep track of all of this travel and better plan their transit schedules, Metrolinx set up an online data warehouse to help its 11 partner transit agencies analyse their ridership statistics Day to day operations, the part of the daily
WORKING FOR HIGH STANDARDS – In building and upgrading all of their structures, Metrolinx committed to the highest design and work standards, developing “Excellence Guidelines” to apply to all stations, bus terminals, and parking garages. They also developed guidelines to ensure that any collaborative work done by third parties would meet their standards of excellence.
Following are several projects currently in action: Streamlining travel – Not only have Metrolinx and its subsidiary, GO Transit, added trains to existing lines, they have also planned out and started to build several new lines to help relieve congestion in downtown Georgetown, Toronto, Hamilton, and neighbouring cities. This includes an electric express line from downtown Toronto to the Toronto Pearson International Airport that takes 25 minutes, and is expected to remove 1.2 million car trips
grind that passengers come into contact with, are carried out by Metrolinx employees with three focal points to guide them: They serve with passion, think forward, and play as a team. Each employee is expected to put their heart and mind into giving excellent service, both to customers and to each other. Employees look for new, constructive ideas to improve services, offering suggestions through an online service called Soapbox. All company staff is expected to work together in a spirit of trust and mutual respect. Quarter 2 2016 - The Sustainable Business Review
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Energy challenge program – At the end of 2014 Metrolinx carried out a threemonth awareness program to engage employees in reducing energy use, both at work and at home. It worked. The company is already saving an estimated $1.5 million in energy costs annually. Metrolinx also started using software to monitor locomotive fuel use and idling, which reduced excess idling (hence fuel use) by 66%. They checked and refined the temperature and light settings in bus maintenance facilities, and they installed LED parking lot lights at 23 Metrolinx transit stations. Smart Commute program – Metrolinx has a solid commitment to reducing traffic on the roads. With its community Smart Commute program, the company is inspiring the region’s residents to explore different commuter choices, such as carpooling, bicycling, and public transit. By the end of 2014, 340 workplaces had signed onto the program, representing more than 730,000 commuters. Now Metrolinx is working to promote sustainable school travel as well.
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METROLINX ONTARIO
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Dufferin Construction Company, a division of CRH Canada Group Inc., is a proud partner of Metrolinx. Through the strength and expertise of our people, Dufferin Construction has sustained its business success providing innovative construction solutions to complex infrastructure projects across Canada for over 100 years. www.dufferinconstruction.com
A division of CRH Canada Group Inc.
Through the expertise of our people, Dufferin Construction Company, a division of CRH Canada Group Inc., has sustained business success by providing innovative construction solutions to complex infrastructure projects across Canada for over 100 years. We have built the highways, sidewalks, bridges, railways and runways that keep people moving and that help build the sustainable future of strong communities. www.dufferinconstruction.com
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METROLINX ONTARIO Electronic customer service – Not only did Metrolinx start integrating the ticket purchasing system and rates across all bus and rail lines,
region. Metrolinx is already setting up strategic partnerships with national and local companies to offer amenities and enhanced services to
introducing their new PRESTO card, but they also equipped their buses with automated announcements and digital signs to alert passengers to the next stops. Passengers can access the company’s mobile transit website via their smartphones, since most of the stations and bus terminals have WiFi access. All the signage, logos, symbols, and maps are now uniform throughout the transit area.
travellers. CIBC provides access to Canadian and foreign dollars via multi-currency ATMs at Union Station and Pearson Station.
Community relations program The government expects that the project will create a total of $24 billion in net benefits for the
For municipal transit Metrolinx set up a Transit Procurement Initiative to help small and medium-sized cities purchase buses in bulk. The 289 buses they have bought so far have saved the municipalities approximately $5.7 million. All buses are fully accessible. The company has become popular with the public, promoting itself and connecting via social media. Its “Ms. Snooze” video generated
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THE SUSTAINABLE BUSINESS REVIEW more than 25,000 Twitter engagements within two weeks. Metrolinx has 17,000 followers on Twitter, 2,100 on Instagram, and 13,400 on Facebook. Its Flickr views have surpassed two million. Human resources development – In 2014-15 Metrolinx hired 258 new staff, paying fresh attention to diversity. It reorganised several company groups to increase efficiency, and developed a new hiring strategy with 35 deliverables to meet Metrolinx’s current business requirements. Further working toward improvement, the company established a link with the Schulich School of Business to help staff increase their leadership abilities, and it holds regular forums for all staff who have current leadership responsibilities. Between its own ambitious plans, the ideas of its staff through the Green Team and through Soapbox, and contributions of the public via social media, Metrolinx is set up to continue to carry out its high standards for the foreseeable future. The company is already getting recognition, with LEED gold standard awards for its newest facilities, acknowledgement as a top employer in the Toronto region and in Canada, transit and logistics awards, and green business awards. As stated by Bruce McCuaig, company President and CEO, “It’s a great time to be involved in transportation. The network we build today and tomorrow will be with us for a century or more. I am proud of what we’ve accomplished and excited about what’s to come.”
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METROLINX ONTARIO
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Muskrat Fa HYDROPOWER
PROJECT ON ITS WAY
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NALCOR-MUSKRAT FALLS HYDRO
alls
Y Although constructed primarily for Newfoundland and Labrador, by 2017 when the new Muskrat Falls hydroelectric plant goes into operation, it will be increasing prosperity in the entire Atlantic Canada region.
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Labrador’s Muskrat Falls hydropower project has started construction. Intended to benefit the Canadian provinces of Newfoundland/ Labrador and Nova Scotia, two dams are being built on the lower Churchill River in
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Labrador, below an older dam operated by the government of Quebec. Nalcor Energy, Labrador’s government-owned energy corporation, expects that with the dams the province will be able to meet 98% of its energy
NALCOR-MUSKRAT FALLS HYDRO
of the power generated to meet the province’s electricity needs and sell 20% to Emera Inc. for the island of Nova Scotia. Nalcor also expects that the electricity will stimulate industrial growth in Labrador, which will need a projected 80% of the dam’s power by 2036. That leaves 40% for export for the next 20 years.
Exporting
more electricity
will help the government of Canada to meet its international climate change commitments by reducing the need for coal and tar sands crude oil, both of which are heavy contributors to carbon dioxide and methane in the air. And it will help to fuel the electric cars being manufactured and increasingly purchased in the United States (including the Tesla Model 3 released this year). In Newfoundland and Labrador, Muskrat Falls will power homes and businesses for generations to come. It will also allow the government to shut down an old oil-fired generation station to reduce its own carbon emissions. The plant is being built to last more than 100 years, providing stable electricity rates well into the future.
needs from renewable sources.
Plant Construction
Not only will the project provide much needed electricity to the region, but it will also provide enough to sell to markets in Atlantic Canada and New England. Nalcor expects to use 40%
The Muskrat Falls hydroelectric project was sanctioned by the government of Newfoundland/Labrador in December of 2012 and will take an estimated five years to complete. Eventually it will produce enough electricity to Quarter 2 2016 - The Sustainable Business Review
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power 1.5 million homes. Th of an 824 megawatt facility a of associated transmission lin needed to operate the facility stations, grounding stations a world twice.
Nalcor approached this mas loading approach,” with inte work early on to minimized p process. The upfront work in measurement, followed by physical modeling of the prop a scale model and conducted hydroelectric flow would work three engineering firms to des to be the highest quality turbin
The largest part of the proj
intake, and gated spillway - No subsidiary of Italy’s Astaldi, at a It will take four years for tha completed. Norcal also award Andritz Hydro to supply seven
Other contractors working on Civil Ltd. supplying civil eng supplying conductors, Lock line construction, and ALSTO installation of synchronous construction process also is non-profit labour union of ele is promoting their code of exc meeting deadlines.
According to the project’s over well. “We are nearing the end o and we continue to make ste project,” said Gilbert Bennett “Construction began in early 2
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he project includes construction and more than 1,500 kilometres nes. Some of the infrastructure y includes switchyards, converter and enough guy wire to wrap the
manufacturing is ongoing in more than 100 locations across the province and around the world.”
Muskrat Fall Benefits to the Local Community
ssive project using a “front-end ensive engineering and design problems later in the construction ncluded onsite investigation and computer modeling and then posed plant setup. Engineers built d over 200 tests to make sure the k as envisioned. Nalcor also hired sign and test turbines, conceived nes built in North America.
ject -
the plant’s powerhouse, orcal contracted to the Canadian an estimated cost of $962 million. at part of the construction to be ded a contract for $170 million to n turbines and generator units.
n the project are Pennecon Heavy gineering services, Midal Cable ke’s Electrical Ltd carrying out OM Renewable Power handling condensers. Included in the IBEW International of Canada, a ectric power professionals, which cellence to workers on safety and
seers, construction is progressing of our third full year of construction eady progress in all areas of the t, Vice President of the project. 2013 and today construction and
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THE SUSTAINABLE BUSINESS REVIEW Nalcor Energy is committed to announcing procurement opportunities locally and has made agreements to that end, including an impact and benefits agreement with Labrador’s Innu Nation to give indigenous people
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precedence in hiring, a benefits strategy with the government of Newfoundland/Labrador, and a memorandum of understanding between the governments of Newfoundland/Labrador and Nova Scotia.
NALCOR-MUSKRAT FALLS HYDRO The construction stage has already generated significant employment opportunities, with more than 3,000 jobs offered last year (2015). It is expected to infuse an estimated $1.9 billion into labour and businesses in Newfoundland and Labrador, along with $2.2 billion in the other three provinces of Atlantic Canada, and an estimated $4.7 billion across the rest of Canada.
enough electricity to operate and will hire more local people.
Once construction is complete and the plant is operational, Muskrat Falls expects to provide around 1,500 direct jobs per year, spread across more than 70 occupations, with more than half of those in Labrador. Youth of the Innu Nation are already preparing themselves to be hired by the facility, once it is operational. Nalcor estimates that $450 million will be infused annually into the local economy. The Muskrat Falls project is supporting the local community in other ways too, providing anti-bullying education in schools, organising pancake breakfast fundraisers for the homeless, fundraising and sponsoring youth sports teams and leadership training projects, as well as canoeing and golf competitions, and promoting good health, local conservation, and cultural events. By 2017 when the plant goes into operation, Muskrat Falls will be increasing prosperity in the region. In addition to having its own electricity, the government will have electricity to sell outside the region for twenty years, which will generate the financing needed to build an industrial base, which in turn will have
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SASKPOWER POWERING SASKATCHEWAN RESPONSIBLY 62
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SASKPOWER
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SASKPOWER
SaskPower’s
roots go all the way back to 1929 at the outset of the Canadian depression, when the Island Falls Generating Station was first commissioned. Nearly 90 years later, SaskPower is the largest power generation company in Saskatchewan, generating nearly 4,000MW through a combination of renewable and non-renewable energy sources. In 2014, its revenues exceeded CA$2 billion and it employed nearly 3,100 people in the state of Saskatchewan.
Words like ‘innovative,’ ‘sustainable,’ and ‘clean,’ may be over-used by energy companies these days, but in SaskPower’s case, their usage is warranted. Their development of the world’s first post-combusion coal-fired carbon capture storage facility in 2015 is just one of many environment-conscious initiatives which the company has undertaken over the past decade: these have seen Saskpower achieve a 25% renewable energy output. Another example is provided by the new “D Plant,” which was unveiled at Saskatoon’s Queen Elizabeth Power Station in October 2015. It added 204MW to the company’s existing capacity – enough power for more than 200,000 homes. Natural gas plants are an integral part of the company’s energy mix in their plan to add extra wind capacity. The addition of the “D Plant” Quarter 2 2016 - The Sustainable Business Review
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means that natural gas is now the largest source of energy in Saskatchewan, overtaking conventional coa President of Planning, Environment and Sustainable Development at SaskaPower Guy Bruce recently p out: “Our goal is a diversified portfolio of options – one that balances reliability, affordability and environ impact.”
SaskPower is also planning to progress with utility scale solar power generation, opening a comp
procurement process this year. Also this year, the company will procure another 100 MW of wind gen and will develop up to 1,600 MW of new wind generation between 2019 and 2030. Addressing this pur Robert Hornung, President of the Canadian Wind Energy Assocation said that it will: “attract significant i and ensure a highly competitive process that will produce low cost clean electricity generation for Saskatc ratepayers.” Furthermore, these additions, aligned with the aforementioned developments, will allow SaskPower to move closer to its goal of 50% renewable energy output by 2030.
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SASKPOWER
al. Vice pointed nmental
petitive neration rchase, nterest chewan
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A commitment to stakeholders SaskPower’s efforts in sustainability form part of a wider to commitmet to stakeholders and the issues that affect them. Before any of the company’s projects begin, it undertakes a rigorous consultation programme with all of its stakeholders. This process includes contact with local officials, delivery of project presentations, distribution of detailed projected information, open house information sessions, meetings with individuals and interest groups, media releases, advertisements, direct correspondence and discussion and consideration for the Aboriginal communities of Saskatchewan. SaskPower is particularly sensitive to the needs of Aboriginal communities, shown by its development of an Aboriginal Relations Strategy, and Saskatchewan’s First Nations and Métis communities are key stakeholders. The program outlined by the company involves providing employment, contracting and other opportunities for Aboriginal people, businesses and communities. In 2014, SaskPower was awarded the award Progressive Aboriginal Relations silver status by the Canadian Council for Aboriginal Business; the difficulty in achieving this is witnessed by the fact that only three more companies received the award in the same year. The company also performs considerable work in the community – outside of the essential services it provides in safe energy provision. In 2014 alone, the company received over
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1,000 applications for funding, primarily for educational programs in Saskatchewan, and was able to support nearly 600 of these. In that year, it contributed over $1.5 million into communities that it serves. This included $49,182 in fundraising items and $1,516,635 in financial contributions. In addition, its employees volunteered nearly 6,000 hours of their time in various projects across Saskatchewan’s communities. On their behalf, SaskPower donated over $16,000. The company’s partners – its External stakeholders – include a diverse mix of companies including Big 4 accounting firm PriceWaterhouseCoopers, PMP Powerline Construction, which works with SaskPower in construction and maintenance of its considerable power line infrastructure and the K-Line Group – itself an excellent contributor to communities around Saskatchewan and
SASKPOWER
recognized by Stoufville Chamber of Commerce as the Large Business of the Year in 2015. In an effort to develop its stakeholder relationships further, SaskPower has developed a Corporate Reputation Index – a 10-point scale (where a higher mark denotes better performance), which evaluates the firm’s reputation with respect to the areas of trust, transparency, commitment to meeting expectations, satisfaction and stakeholder input response. The index is derived from the answer to questionnaire sent to stakeholders every year. In 2014, the company underperformed due to customers’ perceptions surrounding rising prices but the firm is committed to growing incrementally in the coming years (see below).
CORPORATE REPUTATION INDEX
2013 2014 2015 2016 2017
Target
7.3 7.2 7.3 7.4 7.5
Actual
7.1
6.8
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C SASKPOWER
Ongoing development Innovation continues apace so that SaskPwer can achieve all of its goals. As recently as February 2016, SaskPower signed an agreement with BHP Billiton, the world’s largest mining firm, to create a global center for carbon capture and storage (CSS) knowledge, which will be located at the Innovation Place Research Park in Regina. The partnership is a promising one for renewable energy’s prospects: BHP Billiton will contribtue CA$20 million over 5 years, while SaskPower will contribute its extensive expertise in the CSS field. The initiative is a perfect indication of why Saskatchewan is a world leader in the area of CSS. S a s k a t c h e w a n ’s energy demand is expected to grow by 13% over the next five years, so SaskPower cannot afford to rest on its achievements. If anything, the company faces bigger challenges in the years ahead than the ones past: the move to 50% renewables by 2030 means that the company will need to add to its renewables base year-on year. Their stakeholders will experience not only direct benefits but indirect ones too, as the company raises the bar for competitors in its industry.
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Water Authority Cayman
Responsible With Every Drop The Water Authority Cayman was founded in 1983, when the island’s Water Authority Law was passed. The growing importance of protecting and providing clean water can be traced with developments at the Authority. In 1983, it occupied a Governmentowned three-bedroom house in George Town and had a staff of just five. In 2016, by contrast, it employs over 100 people and supplies pure, wholesome and affordable drinking to nearly 20,000 customers around the islands.
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WATER AUTHORITY CAYMAN
p
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T
he Authority serves it rapidly-expanding client base (it has tripled in numbers since 2006) through a range of facilities it has developed, and continues to develop, since its foundation. These include five RO plants - four of which are located on Grand Cayman and the fifth in Cayman Brac – ten separate reservoirs, a water works located in the Lower Valley, and a stateof-the-art Sequencing Batch Reactor wastewater treatment works, completed in 2004, that has a treatment capacity of 2.5 million US gallons per day. In addition, it operates a wellfield in East End, where water is pumped from 10 wells into an 80,000 US gallon reservoir. In thirty short years therefore, the Authority has changed to the extent that it is almost unrecognizable from its original form. The Authority is now a modern organization, offering its clients online access to their billing, e-payments and a range of methods to pay. The Authority’s website is a testament to the transparency of the organization: in addition to information on all of the board of directors, regulation and policies, clients can access annual reports going all the way back to the beginning of the organization – something many corporate organizations could perhaps learn from.
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WATER AUTHORITY CAYMAN
All of the authority’s activities are driven by its four-pillar mission: i) To ensure that the entire population of the Cayman Islands has access to pure and affordable potable water, as well as regulating other entities that are licensed by the Government to provide water supplies. ii) To protect and develop groundwater resources for the benefit of present and future populations of the Cayman Islands. iii) To provide for the collection, treatment and disposal of sewage within the islands in a manner that is safe, efficient and affordable; iv) To operate in such a manner to be financially self-sufficient, while contributing to the economy of these islands and achieving a reasonable and acceptable return on capital investments.
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CSR INITIATIVES Beyond the Authority’s core mission, it provides for a range of impressive CSR initiatives on the islands. For example, every year the Authority offers a scholarship of up to CI$30,000 to what it deems to be a suitably qualified Caymanian to obtain an undergraduate academic or technical/vocational degree or diploma in a field of study related to the work that the Authority does itself. Since the scholarship’s inception over ten years ago, its recipients have gone on to study in universities all over the world, including the US, the UK and Canada. Some, such as the 2010 recipient, Sabrina Douglas, have even come back to work at the Authority. The Authority extends its support to local students by offering work experiences programs to current and recent graduates. It
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has developed specialized programs so that students are gaining meaningful work, where they obtain applicable skills for the workplace. Programs are available for students from the age of 14 upwards and typically involve students spending between four and eight weeks of the summer working at the Authority’s headquarters. Those students who aren’t enrolled on a work experience program can still learn about the Authority and the work it does, through its visits to educational institutions on the islands.
WATER AUTHORITY CAYMAN
The educational scholarships and programs are the most visible way in which the company gives back to the community but other, sometimes less noticeable work, which is just as important. For example, in August 2015, the Authority sponsored the annual Cayman Aids Foundation Run2Zero marathon, the international football summer camp for kids, the first United World Colleges event on the islands. In April, it sponsored Feed Our Future, a local charity, the NVCO Caring Cousins initiative and even the Cayman Invitational international athletics event. In fact, the scope of the Authority’s giving back to communities in any number of ways is impressive.
ONGOING DEVELOPMENTS AND THE FUTURE The Water Authority Cayman continues to evolve. In 2016, work is progressing on the
Bodden Town Pipeline Project, with nearly 2,500 feet of new pipeline being installed in total. The osmosis plant in the Lower Valley is also being upgraded. The Authority is also in negotiations with other water suppliers, namely a local firm by the name of Consolidated Water, for the provision of new retail licenses, which were due to expire in June of this year. Elsewhere, a growing population and swelling tourist numbers in the Cayman Islands mean that the Authority will have to work ever harder to maintain the four pillars set out in its mission statement. Water is a resource which has been taken for granted for far too long, but the Water Authority Cayman’s work in education and informing the public has gone some way to changing these perceptions. Thankfully, as the world comes around to realizing the true value of water, the Water Authority Cayman is already one step ahead.
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IAD
ARGYLE IN
ST. VINCENT A
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INTERNATIONAL AIRPORT DEVELOPMENT COMPANY
DCL-
NTERNATIONAL AIRPORT
AND THE GRENADINES BRAND NEW GATEWAY
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THE SUSTAINABLE BUSINESS The small nation of St. Vincent and the Grenadines, located in the Caribbean Sea, is traditionally more associated with sea-bound travel more than airplanes. However, that’s all set to change now that St. Vincent, the largest island of the 32-island archipelago, is finishing the development of its Argyle International Airport later this year. While it’s not the first airport on the islands – there are already five – it will be, by some distance, the jewel in the crown. We recently interviewed Dr. Rudy Matthias, Chief Executive Officer of the International Airport Development Company (IADC), the private limited liability company, owned by the government of St Vincent and the Grenadines, which is spearheading the development.
Origins
The idea for an international-class airport on the main island of St. Vincent goes a long way back. For many years, the islanders have recognized that tourism has the potential to become the country’s most important economic sector. As Matthias explained: “We’ve known for years that without a high quality airport, the tourism sector is not going to develop the way we want it to. Until now, the island hasn’t been able to accommodate commercial jets.” Therefore, one of the pillars of the election manifesto of the government, the ULP Administration led by Dr. The Hon. Ralph Gonsalves that came to power fifteen years ago in 2001, was to build a modern airport on St. Vincent, capable of dealing with commercial jet liners. In 2003 and 2004, the government held firm on its election promise and began to put systems in place to get development of the airport building underway. From the outset, there were huge challenges, which go some way to explaining why the country hadn’t had this airport before then. These challenges are also what make the delivery of the airport so remarkable.
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INTERNATIONAL AIRPORT DEVELOPMENT COM-
A remarkable achievement The first way in which the airport stands out is the way in which it was built. Matthias explains: “There was always a challenge of finding a good site because St. Vincent is a mountainous country. Most of the people on the island live on the coastal areas. So there are not many places where you have enough flat land to build an international airport, which has a runway 9,000 feet long.” Eventually, a site was found, but it wasn’t flat: Three mountains had to be reduced and two large valleys needed to be filled to create an area flat enough to house an airport and its runway. And this only came after IADC had acquired the site: All of the lands for the site identified were owned by private individuals. In all, there were 135 middle-income families with whom the IADC entered negotiations for the purchase of their homes and lands. In all, the 275 acres of land where these houses were located cost the IADC about $60 million. The second remarkable thing about the airport is that it was able to come to fruition at all given the enormous construction cost, relative to the size of the local economy. St Vincent and the Grenadines has a very small economy, and a small tax base, so the financing had to be creative to work. The total cost estimate for the airport was four times what it cost to buy the site, in the region of $240 million.
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INTERNATIONAL AIRPORT DEVELOPMENT COMPANY
“If you were to float a bond for that amount, that bond alone would have caused our debt to GDP to become so high that it would have become difficult to pay off our debts going forward,” says Matthias, “so we had to find a way to build the airport without borrowing too much. After all, we have other social projects, other development projects, and we need to have the capacity to borrow in future.” The solution was a creative finance solution that tapped the country’s network of partner countries for resources, in cash and in kind. These countries include the Republic of Venezuela (equipment), the Republic of Cuba (technicians and manpower), Taiwan (cash grants and loans) as well as Trinidad and Tobago, Libya, Iran, Austria, Georgia, Turkey, Mexico and also some funding from Caricom – an economic union of Caribbean states. Quarter 2 2016 - The Sustainable Business Review
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THE SUSTAINABLE BUSINESS REVIEW the existing E.T. Joshua Airport. Furthermore, the land at the existing airport is only 61 acres, compared to 275 acres at the new Argyle Airport. And the apron – the area for parking the planes – at the Argyle Airport is 22 acres of land, compared to only 2 acres of land at the existing E.T. Joshua Airport. Everything at Argyle is that much bigger!
Committing to CSR Before work could begin, in 2006, the IADC enlisted a firm called Kochs Consult of Germany to carry out an environmental impact assessment (EIA) for the airport project. The IADC received the report from Kochs in 2008 before beginning the construction works, and carefully followed the recommendations in the
The result will be an airport with a 9,000ft runway and 3 inter-connecting aprons, which will allow simultaneous parking of around 30 aircraft, including commercial and cargo planes and non-commercial and private jets. The terminal building, on which construction work was finished in December 2013, will be able to accommodate 1,000 passengers at peak hour in its two terminals – one for domestic flights and one for international flights. The facilities at the Argyle International Airport is actually a jump in scale from what currently exists at the E.T. Joshua Airport on the island of St Vincent: The Argyle Airport terminal building has 135,000 square feet on three floors. For a large country, that size terminal is relatively small, but for St Vincent and the Grenadines, this new terminal building at the Argyle Airport is six times the size of the terminal building at
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INTERNATIONAL AIRPORT DEVELOPMENT COMPANY the history of our country.”
report, including those on the environmental impacts and the measures required to avoid adverse impacts. Of this, Matthias says: “We did several things over the years, based on the recommendations of the EIA and one of the noteworthy ones was the preservation of the history of the site. Over the years, we’ve done several archaeological excavations at Argyle, using established archaeological institutions and firms. During those excavations, we’ve uncovered a lot of artefacts, which have helped us to document
At the peak of the construction work, IADC had 650 employees. Many of these were locals who learned technical skills and received on-the-job training from the experienced foreign crews that came to work on the project. Local and regional firms were also responsible for construction of the Cargo Terminal, Aircraft Rescue and Fire Fighting Station, and the Control Tower. The construction works on the airstrip is being done directly by the International Airport Development Company, using mainly technical skills from Cuba.
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A NEW BEGINNING for St Vincent and the Grenadines IADC’s main mandates are to develop the airport and to put management structures in place for its operation. Therefore, later this year, as the airport opens, IADC is likely to be wound down and its assets distributed to the airport management company (Argyle International Airport Inc.) and other government agencies, as the IADC’s remits are fulfilled. However, the work for St. Vincent and the Grenadines has only just begun. From now on, the challenge is to leverage the presence of the new airport to attract investors to the country, to develop tourism on the island and to create a more sustainable future for its people. Matthias takes a long-term view of this process: “We do not think the facilities could be most efficiently used in the next year or two, but in the next five years, the next ten years, the next 15-20 years, we expect the airport to process a large number of traffic and passengers that we’re going to see in that timeframe. So we have built it to allow for the expectations of the future.”
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NATIONAL FLOUR
Aims to Lead Caribbean in Food Sa National Flour Mills of Trinidad & Tobago is one of many suppliers down the food chain responding to new quality standards required by their customers. In order to meet the sustainability expectations of such customers as Burger King, Kentucky Fried Chicken, and Papa Johns, as well as their own high standards of excellence, this government-owned company is working to obtain SQF Level 3 certification. Safe Quality Food (SQF) certification is the international standard that guarantees that the food we buy is safe to eat. Level 3 is equivalent to the combination of ISO 22000 and ISO 9001. Technically, the standard applies only to human food products, but National Flour Mills is qualifying the entire company. This consists of two main operational divisions, namely food-grade grain and rice products, and dry pet foods.
its other two shareholders and the company became a wholly owned state enterprise. In 1995 it listed on the stock market, with the government owning 51% and 49% open to the public. NFM is now the largest producer of flour products in the Caribbean and a major player in pet food. Its sells locally and regionally (where it holds 60% of the market for flour products) and some outside of the region, like fish food to Surinam and Guyana .Most of its raw grains are imported from the United States, rice bran is imported from Guyana, and its chemicals and additives come from elsewhere. Recently the company purchased a Trinidadian rice farm, and it is currently developing products that use local cassava root. Other than the rice farm, the company is not vertically integrated and has no intention of becoming so, according to CEO Mr. Kelvin Mahabir.
National Flour Mills, Ltd. (NFM) was incorporated on September 30, 1972, with majority holdings by the Government of Trinidad & Tobago. In 1980 the government bought out
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NATIONAL FLOUR MILLS
R MILLS
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THE SUSTAINABLE BUSINESS REVIEW In a February, 2016 phone interview Mr. Mahabir informed us that, “The market is much different now than it was five years ago,” which necessitated a change to a more sustainable and commercial way of operating. Mr. Mahabir was hired in 2014. He is well qualified to transform the company, having 30 years of experience in private sector manufacturing, plus being a Chartered Accountant and having a Masters degree in Business Administration. Since he took the helm, the company has changed its culture and doubled its profitability.
to prevent the contamination of food. National Flour Mills expects to spend US $25 million on upgrades. These will include staff retraining (critical), increasing security, reducing traffic between plants, and improving quality of online operations. The company’s feed operation system is old, requiring a decision as to whether to upgrade or build a new plant. In 2008 it waterproofed all of its silos (3,000 square metres) using a food safety product manufactured by Radcrete in Sydney, Australia. The company is also diversifying products on the animal feed side of
One of the difficult aspects of operating in Trinidad, he says, is the volatility of oil and gas prices. Government GDP depends heavily on revenues from fossil fuels production, as do those many local companies converting and creating products from crude oil and gas. A depression in this section limits foreign exchange, which can hurt trade as a whole. NFM is combating this trend by becoming a more efficient producer, diversifying its products, and securing supplies in advance. Company analysts carefully watch the prices of grain and other supplies, so they can purchase futures a year ahead of actual need. They have also applied a rigourous oversight of their supply chain to find other ways of reducing costs and making it more secure.Efficiency is a key component in qualifying for SQF certification. It requires whatever changes are necessary
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operations to make it more elastic, all of which helps NFM succeed in a more competitive local environment.
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THE SUSTAINABLE BUSINESS REVIEW The food side of operations was already state-ofthe-art, with a fairly new plant that was subsequently upgraded and can now be operated via a laptop at home. In 2014 NFM upgraded its grain transport system. The company has already been managing its energy use and measuring carbon emissions, and any new plants will meet all modern green standards, according to Mr. Mahabir. Staff retraining started in 2014, which included a new employee productivity system that triggers a quarterly bonus. By the following year it was already showing results. In the first quarter of 2015 productivity went up 10%, revenue improved by 21%, and profit after taxes increased 372% over the same period the year before. These changes were helped by a reorganised management structure that required key business units to report directly to the CEO. The company also hired a new Manager of Corporate Security to help strengthen its security systems, protecting product integrity and safety throughout the facilities. And it integrated its human resources, accounting, production, inventory, procurement, and sales departments with appropriate technology and software upgrades. To further motivate workers, the company significantly increased its annual technical and vocational scholarships to their eligible children. Not required by the SQF standard, but still a part of sustainability is the way the company affects
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communities in which it operates. NFM helps local food related events, culinary schools, ele schools, cultural and religious celebrations. the company gave financial assistance and d of products to more than 130 local commun charities.
An example of the kind of support Natio Mills gives is its donations to the Guaico Gov Primary School. The school’s principal sen requesting NFM’s support in enhancing the a performance of its students. These low single parent children were interested in ag so the company donated 45 kg bags of help with rearing rabbits and chickens at and distributed brochures showing nutritio and guid all a
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IMAGE RESOURCES
INTREPID EXPLORERS OF AUSTRALIA’S WES
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IMAGE RESOURCES
S:
ST COAST
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Image Resources is an Australian firm based in the city of Perth, on the country’s western seaboard. The company is focused on the exploration and development of heavy mineral sands deposits in the North Perth Basin, extending from 100km to 200km north of Perth, the capital of Western Australia. As with many regions in Australia, Western Australia is rich in mineral resources. The region is a well-established destination for minerals sands, with the added bonus of having worldclass infrastructure and a local workforce which has extensive experience in the area of mineral sands and other mineral resources. The company’s primary activity has been the evaluation of the 100% owned Boonanarring and Atlas deposits, which comprise part of the aforementioned North Perth Basin project. The work on this has included several environmental studies, environmental approvals, a feasibility study into the Base Case and application for several more approvals. The Boonanarring and Atlas deposits are high grade mineral sands deposits currently under evaluation, totalling 24 million tonnes at 8.2% heavy minerals, of which 19.1% is zircon. As George Sakalidis, Head of Exploration recently told us: “The grade averages around 8.3% against mining in general region which average around 5%. The zircon in the region averages around 10%, while ours is around 24%, so it’s a much higher grade. It’s much higher than anything else around.” Image Resources has been listed on ASX since 2002. In 2015, it showed revenues in excess
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of AU$500,000 and had total assets of over AU$1.3 million. The company had been highly commercially active in the same year, with the sale of some of its mineral sands deposits to Tronox (NYSE:TROX) for $50,000 cash and a sliding royalty.
IMAGE RESOURCES
Environmental Policy The company takes its commitment to the environment seriously. In fact, its environmental policy is quite visible on its corporate website for all to see. It’s a thorough document, outlining in several steps where the company outlines all aspects of where it stands on the issue. The highlights of the document are included below. Image Resources AU commits to: •Appropriately manage the environmental impacts of its exploration, mining and processing activities •Operate responsibly and in full compliance with the applicable environmental laws, regulations, tenement and permit conditions •Pollution prevention and minimization •Continually improve environmental management practises and to exceed the minimum requirements set by legislators with regard to all areas of its operations •Conduct mining in a manner which that ensures the rehabilitation to the agreed land use at the earliest possible time •Ensure that all employees are aware of their roles as part of the company’s overall environmental responsibility •Regularly audit and monitor environmental performance
its
own
These measures ensure that the company does its part for the environment in what has been a traditionally ‘dirty’ industry. With time, companies like Image Resources are recognizing that sustainable long-term investing cannot create the environmental externalities that we associated with such industries in the past.
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IMAGE RESOURCES
Community The company is a respected employer and stakeholder in the broader Perth community. In all of its dealings, it places an emphasis on establishing open and effective communication with the individuals, families and communities that neighbour their projects. Total buy-in is sought from these people and their feedback is taken on board at every step of each project. As a prime example of this, the company operates a small community liaison office in Gingin Town, a small agricultural town located about 90 kilometres north of Perth. This is locally staffed and provides a readily available focal point and source of information for the company’s projects and plans for the area. Through this office, Image Resources has been able to provide information on the opportunities for the local communities that will spring from its projects, in terms of both employment and development for the local economy. An area such as Gingin Town with an unemployment level in excess of 8%, has welcome the firm and its community initiative as its seeks to develop its own potential in line with that of the company.
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Occupational Health and Safety Policy Inside the company, Image Resources also has a keen commitment to its staff. Despite plenty of technological progress over the past fifteen years alone, mining industries are still highly labour intensive and in many cases, highly skilled labour. Image Resources’ people, and their well-being therefore, is important for the company on a number of levels. Image Resources’ Health and Safety Policy, again available on their corporate website, commits to a range of measures to ensure their employees’ well-being. The company aspires to:
•Comply with all health and safety regulations, and in most cases, exceed the minimum application of these regulations •Establish in-house health and safety procedures and management systems which are integrated into all design, construction and operating activities •Commit adequate resources for the effective implementation of all health and safety procedures to be carried out to the utmost •Encourage employees to actively promote and demonstrate their commitment to safety through personal example in their own activities and in the direction of others •Ensure that all employees are properly trained, equipped and motivated to accomplish their tasks in a safe manner •Provide leadership around health and safety As Mr. Sakalidis points out: “Once we go into production, there’ll be a lot more employees,” so the policy will need to be renewed and added to as time goes on
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IMAGE RESOURCES
The Outlook As with all mining companies, Image Resources is quite dependent on the vagaries of the prices of the minerals that it mines. This sometimes provides a reflection on the share price, which doesn’t always reflect favourably on the positive externalities that the firm creates in areas outside of the ASX. The firm is seeking in the future to raise about $45m for the development of the Boonanarring deposit. The company’s MOU with Murray Zircon Pty and its parent company, Orient Zirconic, should fast-track Image Resources’ Boonanarring mineral sands deposit in 2016, as well as providing access to increase levels of capital, technology and expertise for Image Resources to develop other projects as they arise. Boonanarring is promising but as Mr. Sakalidis points out: ““If we don’t find any more at Boonanarring, we’ll shift the operation to Atlas. If we find more around Boonanarring, we’ll increase the mine life to more than ten years. Boonanarring is very high grade. It’s got some of the highest mineral grade deposits in the world. It’s very high in zircon as well, so that’s very promising.” In the 14 short years of its existence, Image Resources has made considerable progress on a number of fronts. It has become a respected member of Australia’s growing band of mining firms – making something of a niche for itself in the area of Minerals Sands on Australia’s western coast.
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