Accelerating the energy transition
2024 Sustainability Report Brookfield Renewable Corporation
Table of contents
Welcome and progress overview
About us
Welcome and progress overview
Supporting a responsible transition
Appendices
Appendix 1: External ratings and awards 55
Accelerating the energy transition
Supporting a responsible transition
Appendices
Welcome to our 2024 Sustainability Report 2
Letter from the CEO 3
Letter from the CSO 4
About us
Who we are 6
Our Group's business model 7
Q&A with our Chief Operating Officer 22
Supporting a responsible transition 23
Getting to net zero in operations 24
Environment
Focusing on biodiversity and ecosystems 26
Managing water 27
Managing waste and promoting circularity 29
Appendix 2: Materiality and stakeholder 56
engagement
Appendix 3: Climate scenario analysis 58
Appendix 4: TCFD alignment 68
Appendix 5: Engagement and alignment with 69
sustainability frameworks and organizations Appendix 6: Our support of the SDGs 70
Appendix 7: Policies 73
Integrating sustainability considerations throughout the investment lifecycle
Brookfield Renewable Corporation's performance
Accelerating the energy transition
Q&A with our Head of Global Corporate Development
-
People and communities
-
Prioritizing health and safety 31
Respecting human rights 34
Creating clean energy jobs 36
Engaging with communities 38
Systems and governance
12 Q&A with our Global Head of Procurement 41
Sustainability in the supply chain 42
Appendix 8: Forward-looking statements 74
The global context 13
Our Group's transition strategy 14
Taking an integrated approach 15
Adding clean energy capacity 17
Investing in transition 19
Risk management 43
Climate resilience 45
Responsible corporate governance 49
Ethical business conduct 51
Cybersecurity 52
2024 SUSTAINABILITY REPORT BROOKFIELD RENEWABLE CORPORATION 1
See our ESG Data Book for more detail
Front cover: Alamosa, U.S.
WELCOME AND PROGRESS OVERVIEW
Welcome to our 2024 Sustainability Report
FOCUSING ON WHAT MATTERS
Brookfield Renewable Partners L.P. and its controlled entities ("Brookfield Renewable") consider relevant standards and engage with stakeholders to identify material topics, which guide its programs and disclosures. Brookfield Renewable regularly reviews its material topics and undertakes a double materiality assessment
-considering how these affect the business and how the business could impact the natural environment and its stakeholders, including its shareholders, its people, and the communities where it operates. It strives to incorporate evolving disclosure good practice.
For more information see our materiality assessment and stakeholder engagement.
ABOUT THIS REPORT
We have prepared this standalone Brookfield Renewable Corporation sustainability report to allow stakeholders to understand the performance of specific assets that relate to Brookfield Renewable Corporation. While we report on Brookfield Renewable Corporation separately, it is a controlled subsidiary of Brookfield Renewable and operates with Brookfield Renewable as a single business under a common management team ("our Group").
Brookfield Renewable has developed a sustainability approach with specific policies, programs and targets for its global portfolio, which includes Brookfield Renewable Corporation and its portfolio of assets. Brookfield Renewable Corporation reports annually on its programs and the performance of the key performance indicators of these assets against Brookfield Renewable's overall targets. This means, for example, that where we present a Brookfield Renewable net zero target, we report on Brookfield Renewable Corporation's contribution to achieving that target.
As we improve the quality and completeness of our data and methodologies, we may update or restate information in our sustainability-related publications.
Unless otherwise stated:
-
This report and all metrics included address Brookfield Renewable Corporation's ESG performance and progress over 2024
-
All metrics included relate to entities financially controlled2by Brookfield Renewable Corporation
-
Financial figures are reported in USD
This report, together with the ESG Data Book, is informed by the GRI Standards and contains disclosures consistent with the Task Force for Climate-related Financial Disclosure's (TCFD) 11 recommendations. We also consider internationally accepted standards, such as the International Sustainability Standards Board's IFRS S1 and IFRS S2, the Sustainable Accounting Standards Board's (SASB) standards for "Asset Management & Custody Activities", "Electric Utilities & Power Generators", "Solar Technology & Project Developers", as well as "Wind Technology & Project Developers''. Brookfield Renewable's contribution to the UN Sustainable Development Goals (SDGs) is mapped to their progress towards its targets, which includes Brookfield Renewable Corporation's contribution to their targets.
A summary of the these standards and frameworks can be found in Appendix 5 and full indices are in our
ESG Data Book
-
Brookfield Renewable Corporation is a publicly traded corporation that was created to provide investors with greater flexibility in how they invest in Brookfield Renewable Partners L.P.'s globally diversified portfolio of assets. Brookfield Renewable Corporation shares are economically equivalent to Brookfield Renewable L.P.'s units, are exchangeable into an equivalent number of LP Units, and participate in identical distributions to LP Units.
-
As defined by the GHG Protocol and in line with Brookfield Renewable Corporation's consolidated financial reporting.
Letter from the CEO
Letter from the CSO
About us
Accelerating the energy transition
Supporting a responsible transition
Our TCFD alignment index is available in Appendix 4
TCFD CONTENT SYMBOL INTRODUCTION
We have integrated the TCFD recommendations throughout this report. The relevant sections are marked with this symbol.
Appendices
2
Welcome to our 2024
Sustainability Report
This report sets out Brookfield Renewable's approach to sustainability and Brookfield Renewable Corporation's environmental, social and governance (ESG) performance and progress over 2024.
2024 SUSTAINABILITY REPORT BROOKFIELD RENEWABLE CORPORATION
Smoky Mountain, U.S.
Letter from the CEO
WELCOME AND PROGRESS OVERVIEW
Welcome to our 2024 Sustainability Report
As the world broke new records in the deployment of clean energy, our Group also took major steps forward in 2024.
Brookfield Renewable added a record of ~7,000 megawatts (750 megawatts attributable to Brookfield Renewable Corporation) of renewable energy capacity globally from organic development, with a pathway to adding 10,000 megawatts annually by the end of the decade.
Our Group concluded several major transactions, including material acquisitions that bolster our solar, wind and battery development portfolio, and recycled significant capital back to our investors with a number of major asset sales that generated returns well above our target.
ACCELERATING THE TRANSITION
The records continued in the pace of capital deployment with
$12.5 billion invested alongside our Group's institutional partners ($1.8 billion net to Brookfield Renewable).
Brookfield Renewable's access to these large pools of capital has greatly accelerated its clean energy deployment, adding
~15,000 megawatts (1,940 megawatts attributable to Brookfield Renewable Corporation) of renewable power in the past three years alone, and well on track to meet its target to add 21,000 megawatts of new capacity from development by 2030.
Our Group is also working with our corporate partners to accelerate investment and the buildout of clean energy. The landmark framework agreement struck with Microsoft in 2024, to build over 10,500 megawatts of renewables to power their data operations, is a great example of the growing collaboration opportunities available to large developers like us.
More broadly, our Group now serves over 900 corporate customers with clean energy PPAs (Power Purchase Agreements) across a range of sectors, including technology, retail and industrials. In addition, our Group provides hundreds of community institutions like schools and hospitals with clean energy through distributed energy businesses.
These partnerships reinforce the business opportunity to accelerate clean energy and wider sustainable solutions over the coming years.
RESPONSIBLE TRANSITION
Our Group remains focused on not only what we do, but also how we do business.
We integrate sustainability throughout the lifecycle of our investments in a way that aims to bring long-term value to our stakeholders and protect the environment where it operates-focusing on developing projects that anticipate decarbonization benefits, and where we can avoid or mitigate material sustainability risks and impacts.
This starts with people, who are our greatest asset: we are focused on their safety, wellbeing, and development.
Health and safety remains paramount in our operations, with a strong focus on behavioral, process, and technology programs and improvements, which are continuously shared across our Group's businesses. This is an area where artificial intelligence
-such as automated drone inspections-is already making a real difference.
As we grow, we continue to focus on building and implementing our human rights programs in our operations and supply chain.
Brookfield Renewable's work also contributes to creating jobs in the global low-carbon economy. Our group directly employs over 5,000 people globally and contributes to wider indirect job creation through the development, construction, and maintenance of our projects.
ACCELERATING FORWARD
Renewable energy has become the primary source of new investment in global power markets in recent years. Not only do we not expect this to change, but we also expect
the investment to continue to accelerate due to three major reasons:
Cost. Renewables-onshore wind and solar in particular- represent the cheapest form of new electricity generation almost everywhere in the world. Battery storage technology to support increased renewable penetration also continues to rapidly decline in cost.
Security. Renewables are available everywhere, with substantial project pipelines in almost every major market. Furthermore, they do not rely on fuel to produce electricity.
Prosperity. Digitalization, broad-based electrification of industry, and the proposed reshoring of manufacturing facilities creates a large and growing demand for electricity generation to support domestic economies.
In addition, generating clean dispatchable energy to support renewables means an important and growing role for hydroelectricity, nuclear, and battery storage technology. The energy transition is progressing across the global economy, and our Group continues to see opportunities for large, disciplined players like us to generate good returns.
A NEW GEAR
This is truly an exciting time to be investing in the energy transition. Clean energy remains in demand because it is low cost, abundant, and universally available-a crucial input
to economic growth and prosperity.
Our best contribution is to continue growing our Group, and to do so in a responsible way.
Sincerely,
Connor Teskey
CHIEF EXECUTIVE OFFICER,
BROOKFIELD RENEWABLE CORPORATION
Letter from the CEO
Letter from the CSO
About us
Accelerating the energy transition
Supporting a responsible transition
Appendices
2024 SUSTAINABILITY REPORT BROOKFIELD RENEWABLE CORPORATION 3
Letter from the CSO
WELCOME AND PROGRESS OVERVIEW
Welcome to our 2024 Sustainability Report
Our group believes that value creation and sustainable business practices are complementary goals, enabling us to capitalize
on opportunities in the global energy transition.
As a responsible investor, developer, owner, and operator, Brookfield Renewable is committed to being a trusted partner to stakeholders. I am incredibly proud of the work we do, which aims to create long-term shared value through executing on our Group's strategy and sustainability programs. These are focused on the most material issues for the business, and those with the potential to affect our stakeholders and the environment.
2024 PROGRESS
Brookfield Renewable continues to support the rising demand for energy by providing clean, reliable energy. In 2024, our Group surpassed 46,000 megawatts of clean energy capacity and continued to invest in sustainable solutions, including sustainable fuels, to further support customers in meeting their goals.
In addition to supporting the global energy transition, our Group is also focused on reducing GHG emissions in the business. While the carbon intensity of Brookfield Renewable Corporation' operations remains 115 times less than the global power and utility average,1we continue to work with the businesses to advance their decarbonization plans. This includes advancing efforts to support Brookfield Renewable's target to reach net-zero emissions for Scope 1 and 2 by 2030 across its existing clean energy businesses.
Our Group has also made progress in managing biodiversity, ensuring all sites in biodiversity-sensitive areas are covered by biodiversity management plans.
Furthermore, our Group remains focused on circularity, collaborating with our supply chain and businesses to develop and implement lifecycle-management plans for major components to support Brookfield Renewable's goal of diverting major components from landfill.
FOCUSING ON WORKFORCE SAFETY AND ENGAGING WITH COMMUNITIES
HSS&E remains at the heart of our operations. In 2024, our Group further strengthened its program by providing nearly 217,000 hours of training to employees. As we continue to grow, so does our focus on integrating new business into our HSS&E Management System.
Our Group believes that consulting, and engaging transparently with local communities is essential to creating the shared value we aim for. This extends to working together on community investment initiatives and contributing to local economic growth by creating jobs, providing revenue to landowners, and increasing local content spending.
UPHOLDING STRONG GOVERNANCE PRACTICES
Our Group upholds strong ethical and governance practices across our value chain. We proactively manage risks, and collaborate closely with our businesses, suppliers, and customers on shared goals, and to understand their evolving needs and initiatives.
Our Group remains focused on addressing human-rights risks within our supply chain and operations, ensuring we consider these risks throughout the decision-making processes and throughout the lifecycle of our investments.
MOVING FORWARD
Brookfield Renewable Corporation has made progress in executing our Group's strategy focused on accelerating the energy transition. We recognize there is more to be done,
and I am inspired by our Group's culture and the dedication of its global teams to build the business-one that plans to add 10,000 megawatts of clean energy annually by the end of the decade. That's equivalent to powering ~4 million additional homes every year.2
Thank you to our teams, partners, suppliers, investors, and the communities where we work, for your continued support.
Sincerely,
Kelly Goddard
CHIEF SUSTAINABILITY OFFICER, BROOKFIELD RENEWABLE CORPORATION
-
Please see Getting to net zero in operations for details on this analysis.
-
U.S. EPA: Greenhouse Gas Equivalency Calculator
Letter from the CEO
Letter from the CSO
About us
Accelerating the energy transition
Supporting a responsible transition
Appendices
2024 SUSTAINABILITY REPORT BROOKFIELD RENEWABLE CORPORATION 4
Attachments
Disclaimer
Brookfield Renewable Corporation published this content on June 16, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 16, 2025 at 22:35 UTC.
