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Consolidated Goal Statement

To make Spectra Energy the "Company of Choice", we are showing our commitment through actions designed to target the needs of our stakeholders and add value to our business.

Company of Choice Goals

  • Deliver safe, reliable service for customers and bring projects into service on time and on budget.

  • Maintain industry-leading reliability and help customers succeed through enhanced, timely access to supplies and markets.

2015 update on our 2016 goals

Secure additional EBIT through CAPEX opportunities that average $2 billion annually.
  • More than $8 billion of expansion projects currently in execution and placed ~$2.5 billion of growth projects into service in 2015.

Deliver industry leading reliability for our assets that meets customer expectations.
  • Achieved 99.73 percent reliability of transmission compression; 98.48 percent availability for processing plants.
  • Averaged 9.8 hours of unplanned system downtime per month in our liquids transmission system.
Implement our Supplier Code of Conduct with key suppliers and contractors.
  • Our Supplier Code of Conduct has been implemented with our key suppliers and contractors.
Continue to provide industry leadership in improving pipeline safety.
  • Represented the natural gas transmission industry on the development team of the American Petroleum Institute’s (API) Pipeline Safety Management System Recommended Practice 1173 for developing and maintaining pipeline safety management systems.
  • Our Vice-President of Operations and EHS was appointed by the U.S. Secretary of Transportation to serve on the Gas Pipeline Advisory Committee (GPAC). The GPAC reviews the Pipeline and Hazardous Materials Safety Administration (PHMSA) proposed regulatory initiatives to assure the technical feasibility, reasonableness, cost-effectiveness and practicability of each proposal.
  • Provided pipeline public awareness leadership on PHMSA Pipeline Public Awareness Task Force with focus on improving the effectiveness of communications and engagement with key stakeholders.
  • Our Vice President of Stakeholder Engagement sits on the API/ AOPL Emergency Response Advisory Board.

Company of Choice Goals

  • Attract, engage, develop and retain a talented team of employees who work safely, ethically and responsibly.
  • Improve all aspects of safety performance and continue to focus on our high-performing, committed, and engaged workforce.

 

2015 update on our 2016 goals

Focus on our high-performing, committed and engaged workforce.  Target top 10 percent employee engagement survey results.
  • In 2014, achieved an employee engagement score of 85 which is on par with Towers Watson’s High Performing Companies. A new survey will be administered in 2017.
  • Ranked among Houston’s Top 150 Workplaces for six years; Union Gas ranked among Canada’s Top 100 Employers for six years.
Improve all aspects of safety performance.  Achieve top 10 percent safety incident performance in comparison to industry peers.
  • 2015 year-end Total Employee Incident Case Rate is 1.03, flat with 2014 performance. Remains better than our peer group average of 1.80.
  • 2015 Contractor Injury Frequency improved 15 percent in 2015, to .82 from .96 in 2014.
  • 2015 Preventable Vehicle Incident Frequency improved more than 19 percent to 3.27 from 4.05 in 2014.

Company of Choice Goals

  • Deliver sector leading total shareholder returns to our investors.

2015 update on our 2016 goals

Target total shareholder return greater than 80 percent of our peer companies.
  • TSR for 2013-2015 long-term performance was at the 37.5 percentile of the 2013 peer group for long-term incentives, which resulted in a below-target payout percentage of 68.75% for our performance share unit awards granted in 2013.
Achieve our financial and dividend growth commitments.
  • Delivered solid ongoing earnings before interest, taxes, depreciation and amortization of $2.75 billion, within three percent lower than our original expectations, despite the decline of 20-25 percent in commodity prices and 10 percent in the Canadian dollar than originally expected.
  • Increased annual dividend by 14 cents per share.
Safely and successfully execute our expansion plans.
  • Placed ~ $2.5 billion of growth projects into service and have another $8 billion of projects in execution supported by firm, fee-based contracts.
Continue to maintain strong governance systems.
  • 10 of 11 directors are independent, including lead director.
  • Political contributions policy available on website.
  • Achieved World’s Most Ethical Company designation in 2015.
  • Built upon ethical and responsible culture across our company.
  • By-Laws Provide for Proxy Access by Shareholders.
Enhance transparency in financial and environmental, social and governance (ESG) reporting.
  • Sabal Trail, NEXUS and Access Northeast projects provide websites that disclose environmental and social issues related to project development.
  • Engaged investors directly on ESG-related issues and performance.

Company of Choice Goals

  • Successfully advocate on issues important to our company, industry and stakeholders.
  • Policymakers support development and expanded use of North American oil and gas through policies and regulations that encourage infrastructure development.

2015 update on our 2016 goals

Continue to provide public policy leadership on issues of importance to our industry and facilitate ongoing dialogue about infrastructure growth and development, regulatory stability and other areas that are key to our company’s ongoing success.
  • Proactive leadership on legislative, regulatory and stakeholder issues.
Expand our advocacy to address issues related to crude oil and natural gas liquids infrastructure in addition to our ongoing focus on natural gas infrastructure.
  • Provided public policy leadership on issues important to our industry and stakeholders through our work with the American Petroleum Institute and Association of Oil Pipelines.
Demonstrate industry leadership through safety and compliance in our own projects and operations and facilitating ongoing industry dialogue.
  • Interacted and trained first responders representing more than 250 counties and parishes to discuss the roles/responsibilities of pipeline operators and first responders.

Company of Choice Goals

  • Contribute to the economic, environmental and social well-being of the communities in which we work and live.
  • Build capabilities, competencies and shared value in communities to provide long-term sustainable benefits.

2015 update on our 2016 goals

Improve the sharing of stakeholder engagement best practices and lessons learned across the company. Implement key lessons as appropriate.
  • Continued to hold company-wide stakeholder engagement committee meetings, comprised of senior executives, to better inform management of stakeholder-related risks and opportunities to the business strategy and to share best-practices in stakeholder engagement.
Measurably demonstrate stakeholders’ increased awareness of pipeline safety.
  • Achieved 2.53 percent third party line break frequency in our natural gas distribution system, a more than 10 percent decrease from prior years’ actual performance.
Continue to strengthen environmental stewardship in our projects and operations.
  • Reduced the greenhouse gas emissions intensity of our business to 1.72 tonnes CO2e/bbtu in 2015 from 1.79 tonnes CO2e/bbtu in 2014; intensity has been reduced more than 20 percent from 2010.
  • Achieved a 33 percent reduction in total air emissions (NOx, SOx, CO, VOC) of our business, 2010-2015.
  • Reduced/avoided methane emissions by 13.9 billion cubic feet since 2007 through the implementation of more efficient practices. This translates to more than $75 million in natural gas conserved for our customers.
  • Sabal Trail project continued to implement approaches to reduce environmental impacts.
Establish or expand corporate partnerships with academic and community groups to provide education, local employment and economic vitality.
  • Continued to partner with YES Prep and Hispanic Alliance for Career Enhancement, a program for high school students that focuses on career development.
  • Continued to partner on the Northern Opportunities bursary program to recognize the accomplishments of and provide financial help to northeast BC students.
Continue to advance the development and consistent implementation of supplier diversity programs, strive to enhance relationships with Aboriginal and local communities.
  • Purchased $84 million in goods and services from diverse and local suppliers in 2015.
  • Developed an Environmental Monitoring Technician certificate program for Atlantic First Nation community members, giving students the industry support, applied theoretical studies, and practical knowledge of environmental stewardship needed for gainful employment.
  • Union Gas hired and trained a First Nations construction inspector in 2015 for the Brantford- Kirkwall project and will hire four First Nations inspectors in 2016 on the Hamilton-Milton Project, including two construction inspectors, a welding inspector and an environmental inspector.