Cameco Releases 2023 Sustainability Report
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Cameco Releases 2023 Sustainability Report
Saskatoon, Saskatchewan, Canada, June 27, 2024 . . . . . . . . . . . . .
Cameco (TSX: CCO; NYSE: CCJ) released its 2023 Sustainability Report today. The report
communicates the sustainability initiatives and key metrics that demonstrate Cameco’s progress
to date and the continual advancement of our sustainability reporting.
“Our vision is to energize a clean-air world. As the world seeks to decarbonize, we also want to
do our part and be an active partner in the fight against climate change. I am proud of the steps
we have taken to reduce our carbon footprint, focus on environmental protection, and make our
workplace more supportive and reflective of the communities where we live and work,” Cameco
President and CEO Tim Gitzel said.
“Cameco remains committed to quality reporting on sustainability matters to our investors,
customers, employees, regulators, local Indigenous Peoples and communities around our
operations.”
In this report, Cameco has incorporated relevant Sustainability Accounting Standards Board
(SASB) performance indicators and continued its progress toward integrating the
recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The
report can be downloaded or read online at www.cameco.com/about/sustainability
The 2023 Sustainability Report includes several notable highlights for Cameco:
• For the first time, we have included our estimated total Scope 3 emissions value and
quantification method. We’ve begun engaging with key value chain partners and
suppliers to learn about their energy and greenhouse gas emissions management activities
and reduction opportunities.
• We completed the installation of a new closed-loop cooling water system at our Port
Hope Conversion Facility, eliminating the need to use surface water for once-through
cooling purposes, reducing energy use and water withdrawals.
• We developed tailored decarbonization pathways for all operationally controlled sites,
including ideas collected from more than 160 decarbonization project suggestions
received from across the company.
• In 2023, we completed physical risk assessments at all our fuel services operations,
expanding on the work completed at the northern Saskatchewan operations in 2022.
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• We provided work placements for 18 Indigenous individuals, 13 of whom were women.
• In 2023, about 50% of Cameco’s employees in northern Saskatchewan were Indigenous
and 74% of all spend on services for our northern sites was procured from northern-
owned local businesses.
“The advantages of nuclear energy to provide carbon-free, constant and reliable power are being
recognized globally in the fight against climate change and to achieve energy security. With
growing electricity demand, we believe countries around the world are looking to Cameco to
provide fuel to help de-carbonize their economies,” Gitzel said. “Our joint acquisition of
Westinghouse, a global provider of specialized nuclear technologies, products and services, is
expected to augment our core business and expand our reach across the nuclear fuel cycle.
“Our achievements on sustainability priorities are critical to our ability to capitalize on the
growing momentum in the nuclear industry.”
Cameco’s board of directors and executive team oversee the company’s sustainability strategy,
execution, and reporting. In addition to SASB and TCFD, the report contains other key
performance indicators that we believe have an important bearing on Cameco’s long-term
sustainability, some of which are unique to our company and some of which are based on the
GRI Standards framework that we used as the basis of our sustainability reporting prior to 2020.
For the third year, we have obtained a third-party limited assurance report on selected
performance indicators.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air
world. Our competitive position is based on our controlling ownership of the world’s largest
high-grade reserves and low-cost operations, as well as significant investments across the nuclear
fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser
Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions
for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto
and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
Caution Regarding Forward-Looking Information and Statements
This news release includes statements considered to be forward-looking information or forward-
looking statements under Canadian and U.S. securities laws (which we refer to as forward-
looking information), including: our commitment to continual advancement of our sustainability
reporting, our vision and views on the transition to a low-carbon economy and our desire to be an
active partner in the fight against climate change, the demand for clean electricity, and the role of
nuclear energy; our expectations regarding Cameco’s role and the role of nuclear power more
generally in combatting climate change; our commitment to quality reporting on sustainability
matters; our engagement with key value chain partners and suppliers regarding energy and
greenhouse gas emissions management activities and reduction opportunities; the elimination of
need to use surface water for certain purposes; the effect of our acquisition of Westinghouse on
our business and other matters. This forward-looking information is based on a number of
assumptions, including assumptions regarding: carbon emission reduction and the continued
focus on transition to a low-carbon economy, the demand for clean energy and the contribution
that could be made by nuclear energy to reduce climate change; our commitment and ability to
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advance our climate, environmental and social-related goals. This information is subject to a
number of risks, including: the risk that carbon reduction goals may not be achieved within the
expected timeframe, if at all; the risk that the demand for clean electricity will not meet the level
we expect, or that nuclear energy will not make the contribution to carbon reduction that we
expect; the risk that our estimates and forecasts and the data underlying them may be inaccurate;
the risk that we will face unexpected challenges or delays in advancing our climate,
environmental and social-related goals and that they may not achieve the intended outcomes or
results in whole or in part; and the risk that our acquisition of Westinghouse will not yield the
intended benefits for us or any at all. Additional assumptions and risks are detailed in the
Caution About Forward-Looking Information in our ESG Report and pages 4-6 of our
Management’s Discussion and Analysis. The forward-looking information in this news release
represents our current views, and actual results may differ significantly. Forward-looking
information is designed to help you understand our current views, and may not be appropriate for
other purposes. We will not necessarily update this information unless we are required to by
securities laws.
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Investor inquiries:
Cory Kos
306-716-6782
Media inquiries:
Veronica Baker
306-385-5541