TransAlta Renewables Named as One of Canada's Best 50 Corporate Citizens by Corporate Knights

CALGARY, AB, July 6, 2021 /CNW/ - TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) has been recognized by Corporate Knights as one of the Best 50 Corporate Citizens for 2021, an annual ranking of Canadian companies' sustainability leadership performance. Honorees were selected from a pool of 271 Canadian companies with revenues over $1 billion. The Best 50 Corporate Citizens list evaluates and ranks Canadian corporations, against a set of 24 key performance indicators ("KPI"), covering environmental, social and governance ("ESG") indicators, relative to their industry peers and using publicly available information. The Best 50 Corporate Citizens ranking sets the standard for sustainability leadership in Canada by showcasing the leading performance for KPIs such as clean revenue, clean investments and diverse leadership at the board level.

"We are honoured to be recognized as a Best 50 Corporate Citizen, among Canada's most prominent corporate leaders in sustainability. This recognition serves as an acknowledgement of our continued commitment to sustainable operations and ESG reporting," said Todd Stack, President and CEO. "We strive to integrate sustainability into all areas of our business, including governance, decision-making, risk management and our day-to-day business processes."

The list's ranking is conducted by Corporate Knights, the voice for clean capitalism, which includes the sustainable business magazine Corporate Knights and a research division that produces rankings and financial product ratings based on corporate sustainability performance. The list's KPIs include criteria such as revenues derived from products and services that are clean, investments in clean assets, gender and racial diversity, resource management, safety, and supply chain sustainability among others.

TransAlta Renewables is committed to continuous improvement on key ESG issues and to ensuring its economic value creation is balanced with a value proposition for the environment and its communities. Read the full 2021 Best 50 Corporate Citizens list, here.

About TransAlta Renewables Inc.

TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 24 wind facilities, 13 hydroelectric facilities, eight natural gas generation facilities, one solar facility, one natural gas pipeline, and one battery storage project, representing an ownership interest of 2,633 megawatts of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.

SOURCE TransAlta Renewables Inc.

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