Bell for Better: Creating a Sustainable, Connected, and Inclusive World
Introducing Bell's 2022 Integrated Annual Report - a testament to our unwavering commitment to the highest environmental, social, and governance (ESG) standards. At Bell, we strive to foster a thriving, prosperous, and interconnected world by investing in networks that support the social and economic well-being of our communities.
Our strategy for long-term value creation goes beyond mere financial gains; it encompasses substantial community investments, cultivating top-tier talent, and leading the industry in environmental performance. With an unwavering focus on sustainability, Bell aims to continuously deliver value to Canadians and the global community by providing innovative and resilient broadband networks and communication services.
We proudly present Bell's inaugural Integrated Annual Report (IAR), a comprehensive document that combines both financial and non-financial performance. Following the esteemed Value Reporting Foundation's Integrated Reporting (<IR>) Framework, this approach sheds light on the symbiotic relationship between sustainability and financial success. By doing so, we present our strategy for creating enduring value for stakeholders over time. As trailblazers in our industry, Bell is the first major communications company in North America to publish such an integrated annual report.
Aligned with the <IR> Framework, our 2022 report illustrates how our six forms of "capital" (networks, customers and relationships, products and services, environment, people, and financial resources) contribute to value creation. This model highlights how we transform these capital inputs into tangible outcomes, such as connecting customers through reliable networks, fostering a sustainable society, and ensuring strong returns for investors while maintaining a robust capital structure.
Bell's 2022 Integrated Annual Report: Uniting sustainability, innovation, and prosperity for a brighter future.
Introducing Bell for Better - a platform built on Bell's unwavering commitment to value creation, guided by three powerful pillars:
Pillar 1: Better World
At Bell, we are dedicated to creating a better world for future generations. We have set ambitious goals to reduce greenhouse gas emissions, aligning with the Paris Climate Agreement and the Science Based Targets initiative. By 2030, we aim to achieve carbon neutrality, and by 2025, our operations will be completely carbon neutral. But our environmental commitment doesn't stop there. In 2022 alone, we recovered over 2.3 million used customer electronic devices, earning us recognition as one of Canada's Greenest Employers. We take immense pride in leading the industry in mental health advocacy as well. Through our Bell Let's Talk initiative, we have committed over $139 million to mental health initiatives, making it Canada's largest-ever corporate investment in this critical area. And to further strengthen our support, we recently announced an additional $10 million towards our goal of $155 million for Canadian mental health programs by 2025.
Pillar 2: Build Better Communities
We believe that connectivity is essential for thriving communities. That's why we are ramping up our investments to bring faster and more reliable connectivity to more Canadians. In 2022, our capital expenditures exceeded $5.1 billion, allowing us to accelerate the deployment of our broadband fibre, 5G, and rural networks. As a result, our advanced wireless connectivity, including our cutting-edge 5G network, is now available to 82% of Canadians. We are expanding our pure fibre network to reach even more homes and businesses, connecting an additional 854,000 locations in 2022. And we are bridging the digital divide by extending our services to 17 additional communities in Canada's far north. Through these efforts, we are making connections possible in more places than ever before.
Pillar 3: Build Better Workplace
At Bell, we prioritize fostering an inclusive and empowering workplace culture. We are proud to be recognized as one of the largest and Best Employers in Canada, including being acknowledged as one of the Best Diversity Employers, Greenest Employers, Top-Family Friendly Employers, and a Montréal Top Employer. We are committed to nurturing the next generation of leaders through our Graduate Leadership Programs, solidifying our status as a Top Employer for Young People. Diversity is at the core of our values, and we are exceeding our targets to promote diversity throughout our organization. In 2022, we surpassed our goal of at least 40% BIPOC representation among new graduates and interns. Additionally, we achieved our target of 35% gender diverse representation on our esteemed Board of Directors.
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