Bombardier Inc

Bombardier participates in public debates and engages in public policy advocacy by communicating in a compliant and appropriate manner with policymakers and regulators. [...] The Corporate Governance and Nominating Committee (CGNC) of the Board supports the Board's oversight responsibilities by monitoring Bombardier's ESG development and performance, including its ESG plan and practices, and related policies and disclosures. The CGNC reviews and recommends approval by the Board of Bombardier's ESG report, in conjunction with the Board's Audit Committee, which has specific oversight and responsibility for any ESG-related metrics within the report. In 2023, the CGNC met four times and an ESG update was provided by the Senior Vice-President, People and Sustainability at every meeting. Following each meeting, the Chair of the CGNC provided a summary to the full Board, including key matters addressed in the ESG updates. The topics discussed during those updates included a review of the corporation's ESG performance and ESG-related measures, developments in ESG reporting, as well as significant initiatives that advanced the ESG plan. These updates ensure that the Board is well informed of ESG developments and progress of the ESG plan. [...] Starting in 2022, Bombardier established a Climate Working Group with experts from different functions such as finance, accounting, legal/governance, sustainability, environment, engineering, operations, business strategy and investor relations. The Climate Working Group is responsible for conducting climate risk assessments, developing the company's climate strategy, as well as preparing the Climate report enclosed as an appendix to this report. In 2023, ESG forums continued throughout the year, an initiative that was officially launched in 2022. These forums group representatives from various teams across the organization that contribute to the progress of the ESG plan and provide opportunities to share ESG-related developments, initiatives and knowledge among all ESG contributors.

Throughout the year, our Board of Directors approved ambitious targets, strategies and goals linked to our new ESG Plan, while our Corporate Governance and Nominating Committee began reviewing our progress on meeting those targets. [...] At Bombardier, the Environmental, Social and Governance (ESG) topics are under the responsibility of the Corporate Governance and Nominating Committee of the Board of Directors, which approves the ESG plan. At the business executive committee level, sustainability is led by Daniel Brennan, Senior Vice President of People and Sustainability. Reporting to Mr. Brennan is our Vice President of Human Resources Information Systems and Sustainability, Paul Michaud, as well as a cross-functional team that contributes to different elements of the ESG plan. [...] The Corporate Governance and Nominating Committee (CGNC) oversees and monitors ESG development and performance. [...] In 2021, each independent committee of the Board reviewed ESG performance measures related to their specific oversight responsibilities. The CGNC initially reviewed the ESG plan before recommending it to the Board. It also tracked all ESG performance measures.