Good afternoon, ladies and gentlemen. My name is Karen Uehara, Vice President, Corporate and Corporate Secretary of Enbridge. Thank you for joining us at our annual general meeting today. Real-time captioning for the hearing impaired is also available today. There will be three parts to today's meeting. First, the formal business portion will address the matters to be voted on today, including questions specific to the resolutions and will be conducted by our chair, Ms. Pamela Carter. In the unlikely event Ms. Carter is unable to continue as chair, Mr. Ebel, our President and CEO, and a director, will chair the meeting.
Next, after the formal business of the meeting, Greg Ebel will deliver his remarks to our shareholders. Finally, we will have the question and answer session. Before we begin with the formal business portion of the meeting, I will provide some comments on voting and questions at today's meeting. As a reminder, only registered shareholders and duly appointed proxy holders are able to vote or ask questions. Voting during this meeting can only be done through our virtual voting platform on the webcast. Once you are logged into the webcast with your control number or username and Enbridge 2023 with a lowercase e as your password, click the Voting tab at the top of the webcast page.
The polls are now open. Voting can be completed at any time from now until the end of the formal business of the meeting. Thank you to those of you who have already voted. If you've already voted in advance of the meeting and do not wish to change your vote, you do not need to vote again during the meeting. For those who have not yet voted, we encourage you to do so now. Questions during the meeting can also only be submitted through our webcast platform. Once you are logged into the webcast with your control number or username and password, click the Messaging tab at the top of the webcast page.
Type your question in the text box at the top of the screen, and then click the send arrow. If your question relates to a specific motion, please start your question by identifying the specific motion so we can address your question at the appropriate time of the meeting. We will save all questions that do not identify which motion they relate to for the general question and answer session following the formal business and the CEO's remarks. If a question is personal in nature, we will follow up with you individually after the meeting.
We will receive the questions and read them out or summarize them in order for everyone to be aware of the question being dealt with. If you have questions, we encourage you to submit them now. Questions can be submitted throughout the meeting. During the general question and answer session, our CEO will address your questions. If we have a number of questions that are the same or very similar on a topic, we may group the questions just to avoid repetition. During the general question and answer session, we will endeavor to add...
address all general questions from our registered shareholders or proxy holders that are not specific to a resolution. Please note that due to time constraints, we may not be able to address all questions today. At Enbridge, we believe active engagement with our shareholders and stakeholders on an ongoing basis through a variety of avenues is key to transparency, open and informed dialogue, and sharing our story. We would like to remind you that our answers to your questions and our CEO's remarks may contain forward-looking information.
By its nature, this information contains forecast assumptions and expectations about future outcomes, which are subject to the risks and uncertainties discussed more fully in our public disclosure filings. We may also refer to non-GAAP and other financial measures. In the event of a technical malfunction or other significant problem that disrupts the meeting, the chair of the meeting may adjourn, recess, or expedite the meeting or take such other action that the chair determines is appropriate in light of the circumstances. I now welcome Ms. Pamela Carter, Chair of the Enbridge Board of Directors, to call the meeting to order.
Thank you, Ms. Uehara. Good afternoon, ladies and gentlemen. My name is Pamela Carter. I am the Chair of the Enbridge Board. It is my pleasure to welcome you to Enbridge's 2023 Annual Meeting of Shareholders. We are gathered today by technology from locations across North America, where indigenous peoples have been and continue to be stewards of the land. I'd like to acknowledge and thank the people whose footsteps have marked these territories for centuries. Before I call the meeting to order, I would like to call upon Ms. Jody Whitney to deliver a land acknowledgement message.
Hello, my name is Jody Whitney, and I'm from the Tsuut'ina Nation. Respectfully, we acknowledge that we are hosting this meeting today in Treaty seven territory, home to the Blackfoot Confederacy, which includes the Siksika, Kainai, and Piikani nations, the Stoney Nakoda nations of Bearspaw, Chiniki, and Wesley, the Tsuut'ina Nation, and Métis Nation, Alberta Region 3. It is also important to acknowledge that our assets traverse many other treaty and traditional Indigenous lands across North America, which is known to Indigenous people as Turtle Island.
Thank you, Ms. Whitney. I now call the meeting to order. As Chair of the Enbridge Board and in accordance with our bylaws, I will act as Chair of today's meeting. Karen Uehara, Vice President, Corporate and Corporate Secretary, will act as Secretary. Greg Ebel, our President and Chief Executive Officer, is also present at the meeting today. Our external auditors are also available to answer questions as appropriate. In order to ensure that the business of today's meeting proceeds smoothly, Ms.
Kosziwka, who is a shareholder and duly appointed proxy holder, will move and second the proposals relating to the items of business identified in the notice of meeting other than the two shareholder proposals, which will be moved and seconded by a representative of the shareholder proponent who filed the proposals. As in past years, we will have a general question-and-answer session after the formal business of the meeting is completed. As previously noted, during the formal portion of the meeting, we will also pause to address questions and comments submitted by shareholders and proxy holders that are specific to the motions being presented during the meeting.
If you are a shareholder or proxy holder with a question that you'd like addressed during the meeting, I ask that you submit your question now. This afternoon we will deal with the items of business indicated in the notice of meeting and Management Information Circular. Shareholders will first be asked to consider the minutes of the last meeting of shareholders held on May 4, 2022. They will then attend to the regular business of receiving the annual financial statements, together with the accompanying report of Enbridge's auditors.
Shareholders will then be asked to elect the directors and vote on the appointment of the auditors for the next year, as well as authorize the directors to fix the auditors' remuneration. As has been the case in prior years, shareholders will then be asked to cast a non-binding advisory vote on the corporation's approach to executive compensation, which is commonly referred to as Say-on-Pay. This year, as we do every three years, shareholders will be asked to ratify, confirm, and approve the corporation's existing shareholder rights plan. Shareholders will be asked to consider and vote on two shareholder proposals as set out in Appendix B of the Management Information Circular.
All 11 of our incumbent directors are standing for re-election today. The number of directors to be elected today has been determined by the board to be 11. Monaco retired as President and CEO and a Director of Enbridge on December 31st, 2022. We sincerely thank him for his many years of dedicated service to the Board and to Enbridge. I would also like to thank the Enbridge management group for their fine leadership. Also our shareholders for giving me the opportunity to serve as a Director and the Chair of the Board.
Mr. Steve Bandola, a representative of the corporation's registrar and transfer agent, Computershare Trust Company of Canada, is in attendance today. I appoint him to act as scrutineer for the meeting. I will now ask Karen Kosziwka to confirm that proper notice of the meeting was given and that a quorum is present for the transaction of business.
Thank you, Madam Chair. The notice of meeting and notice of availability of meeting materials for this meeting were mailed on or before March 17th, 2023, to shareholders of record at the close of business on March 7th, 2023. Proof of mailing to registered shareholders will be filed with the records of this meeting. The scrutineer's report shows 7,046 proxies received, representing a total of 1,300,942,669 shares, which is 64.25% of the shares outstanding on March 7th, 2023. Based on the scrutineer's report, I confirm that a quorum is present for transaction of business at this meeting.
Thank you. I declare this meeting to be properly constituted for the transaction of business. Ms. Kosziwka, may I please have a motion to approve the minutes of the annual meeting of shareholders held on May fourth, 2022.
Madam Chair, I move and second that the minutes of the annual meeting of shareholders held on May fourth, 2022, as now submitted to this meeting, be taken as read and approved.
Thank you. Can you please advise if any questions specific to this motion were submitted?
No questions specific to this motion have been submitted.
Thank you. Unless we receive any objections otherwise, we will accept the minutes as approved. The next item of business is the placing before the shareholders of the financial statements of the auditor's report for the year ended December 31, 2022. The financial statements and auditor's report for the year ended December 31, 2022 are contained in the company's 2022 annual report. The financial statements have been approved by the board of directors and are available on the company's website. The corporation's auditors are PricewaterhouseCoopers LLP.
Mr. Paul Fitzsimmons of PwC will be available during the general question and answer session following Mr. Ebel's remarks to answer any of your questions regarding the auditor's report. The next item on the agenda is the election of directors for the next year. 11 directors are to be elected at this meeting. Ms. Kosziwka, may I please have a nomination for the election of 11 directors to serve on the Enbridge board for the upcoming year?
Madam Chair, I am pleased to nominate each of the following individuals: Mayank M. Ashar, Gordie E. Bannister, Pamela L. Carter, Susan M. Cunningham, Gregory L. Ebel, Jason B. Few, Teresa S. Madden, Stephen S. Poloz, S. Jane Rowe, Dan C. Tutcher, and Steven W. Williams for election as directors of the corporation to hold office until the close of the next annual meeting or until their respective successors have been elected.
Thank you. As no other nominations for director were received in accordance with the company's advanced notice bylaw, I hereby declare the nominations closed. I will now entertain a motion respecting the election of directors.
Madam Chair, I move and second that Mayank M. Ashar, Gordie E. Bannister, Pamela L. Carter, Susan M. Cunningham, Gregory L. Ebel, Jason B. Few, Teresa S. Madden, Stephen S. Poloz, S. Jane Rowe, Dan C. Tutcher, and Steven W. Williams be elected directors of the corporation to hold office until the close of the next annual meeting or until their respective successors have been elected.
Thank you. Can you please advise if any questions specific to this motion were submitted?
No questions specific to this motion have been submitted.
Thank you. We will now proceed with the vote. Please record your vote now, remembering that if you have already voted in advance and do not wish to change your vote, no further action is required. The next item of business is the appointment of the corporation's auditors. PricewaterhouseCoopers or its predecessor, Price Waterhouse, has been the auditors of Enbridge for the past 30 years. The board of directors, on advice from the Audit, Finance and Risk Committee of the board, recommends their reappointment. Ms. Uehara, may I please have a motion?
Madam Chair, I move and second that PricewaterhouseCoopers LLP be appointed auditors of the corporation to hold office until the close of the next annual meeting of shareholders at such remuneration as shall be fixed by the board of directors.
Thank you. Can you please advise if any questions specific to this motion were submitted?
No questions specific to this motion have been submitted.
Thank you. We will now proceed with the vote. Please record your vote now, remembering that if you have already voted in advance and do not wish to change your vote, no further action is required. The next item of business today is a non-binding advisory vote on the corporation's approach to compensation, commonly known as Say-on-pay. Although this vote is optional and non-binding, it gives shareholders an opportunity to provide important input to the board of directors. Ms. Uehara, may I have a motion?
Madam Chair, I move and second that the resolution to accept the approach to executive compensation, the text of which is set forth on page 35 of the Management Information Circular for this meeting, be and is hereby approved.
Thank you. Can you please advise if any questions specific to this motion were submitted?
No questions specific to this motion have been submitted.
Thank you. We will now proceed with the vote. Please record your vote now, remembering that if you have already voted in advance and do not wish to change your vote, no further action is required. The next item of business is a resolution to ratify, confirm, and approve the shareholder rights plan, which encourages the fair treatment of shareholders if there is a takeover bid for control of Enbridge. The shareholder rights plan resolution must be passed for the shareholder rights plan to continue, otherwise it will terminate. Our shareholder rights plan is reconfirmed by shareholders every three years, most recently in 2020. There are no substantive changes to the plan for 2023.
The board of directors has determined that the continuation of the shareholder rights plan, as described in the Management Information Circular, is in the best interest of the corporation and its shareholders and recommends that shareholders vote for this resolution. Ms. Uehara, may I have a motion?
Madam Chair, I move and second that the resolution to ratify, confirm, and approve the shareholder rights plan, the text of which is set forth on page 36 of the Management Information Circular for this meeting, be and is hereby approved.
Thank you. Can you please advise if any questions specific to this motion were submitted?
No questions specific to this motion have been submitted.
Thank you. We will now proceed with the vote. Please record your vote now, remembering that if you have already voted in advance and do not wish to change your vote, no further action is required. The next items of business today are consideration of two shareholder proposals submitted by DI Foundation, represented by Investors for Paris Compliance, as set out in Appendix B of the Management Information Circular. The board of directors and management recommend that shareholders vote against both proposals.
We will first deal with shareholder proposal number 1. I will now invite Mr. Duncan Kenyon of Investors for Paris Compliance to present the proposal on behalf of the DI Foundation. Mr. Kenyon, may you please present the motion and make your statement.
Thank you, Madam Chair. My name is Duncan Kenyon, representing DI Foundation. I move and second that shareholder resolution number 1, as set out in Appendix B in the Management Information Circular B, and is hereby approved. Lobbying practices are an element of company's net zero commitments coming under increasing scrutiny. Public policy will largely determine the ability of our economy and companies like Enbridge to reach net zero. What kind of climate policies a company pushes for is therefore directly relevant to its net zero commitment.
Unfortunately, Enbridge and Canada's oil and gas sector has in general rated quite badly on climate lobbying. A major report by InfluenceMap, who is an advisor to the Climate Action 100+ investor group, finds that the industry engages in net zero greenwashing as it claims net zero alignment on the one hand, while lobbying against climate policy and lobbying in favor of oil and gas expansion, on the other. Enbridge received a D grade from InfluenceMap and has been embroiled in many political controversies over the past few years in its U.S. operations, including an active legal conflict with the State of Michigan administration over its Line five pipeline and protests against the Line three pipeline in Minnesota that resulted in one of the largest acts of civil disobedience in recent U.S. history.
Investors have a direct interest in ensuring the companies they invest in are being the event leaders that they say they are, and that the disclosures enable investors to validate that position. Many investors now also have their own net zero commitments, meaning that maybe their investees all too incredible manner. The political lobbying misalignment of companies like Enbridge is therefore an investor issue. Unfortunately, Enbridge has a pattern of political activities with significant legal political litigation risk to the company, which includes using political front groups like Great Lakes Michigan Jobs, Minnesotans for Line 3, and New Yorkers for Affordable Energy to lobby for fossil fuel projects against climate action.
And at the same time as Enbridge failing to disclose the activities to shareholders. They also have a pattern of political donations to the U.S. to pro-fossil fuel politicians who obstruct climate action. There's also a pattern of alienating key decision-makers and stakeholders such that Enbridge now finds itself facing large material legal risk, such as the litigation surrounding Line 5, and also are practicing an active lobbying for the expansion of natural gas use in contradiction to credible net-zero commitments. Clearly these systems are inadequate, given the results. Investors require more disclosure to demonstrate that the board understands the risk associated with Enbridge's political activities and that it is managing it properly. We encourage Enbridge shareholders to vote for this proposal.
Thank you, Mr. Kenyon. We appreciate your engagement on this matter. As set out in the Management Information Circular, the board of directors opposes this proposal and has recommended that shareholders vote against shareholder Proposal 1. The reason for this recommendation are explained in full on pages 123-124 of the Management Information Circular. Ms. Uehara, can you please advise if any questions specific to this motion were submitted?
No questions specific to this motion have been submitted.
Thank you. We will now proceed with the vote. Please record your vote now, remembering that if you have already voted in advance and do not wish to change your vote, no further action is required. The final item of business today is the consideration of Shareholder Proposal Number Two. The board of directors and management recommend that shareholders vote against the proposal. I again invite Mr. Duncan Kenyon of Investors for Paris Compliance to present the proposal on behalf of the DI Foundation. Mr. Kenyon, may you please present the motion and make your statement.
Again, Madam Chair. My name is Duncan Kenyon, and I'm a shareholder representing the DI Foundation. I move to second that shareholder resolution number 2, as set out in Appendix B in the Management Information Circular B. It's hereby approved.
Again, thank you Mr. Kenyon for your engagement on this matter. As set out in the Management Information Circular, the board of directors opposes this proposal and has recommended that shareholders vote against Shareholder Proposal Number Two. The reasons for this recommendation are explained in full on pages 125 to 126 of the Management Information Circular. Ms. Urara, can you please advise if any questions specific to this motion were submitted?
No questions specific to this motion have been submitted.
Thank you. We will now proceed with the vote. Please record your vote now, remembering that if you have already voted in advance and do not wish to change your vote, no further action is required. That concludes the resolutions to be presented to the meeting. I declare the polls to be formally closed. Thank you again to all our shareholders who voted in advance of or during today's meeting. We will now pause for a moment for the scrutineer to tabulate the preliminary results of the voting and provide those results to us. Ms. Urara, do you have the preliminary results of the voting?
Yes, Madam Chair. I have received confirmation from the scrutineer that each of the 11 directors have been elected by at least 88% of the votes cast for the election of directors. The motion to appoint PricewaterhouseCoopers LLP as the corporation's auditors and have the audit directors fix the remuneration, has been approved by at least 89% of the votes cast on that resolution. The advisory vote on the approach to executive compensation has been approved by at least 90% of the votes cast on that resolution. The motion to ratify, confirm, and approve the shareholder rights plan has been approved by at least 97% of the votes cast on that resolution.
Shareholder proposal number one, submitted by DI Foundation and represented by Investors for Paris Compliance, has been defeated by at least 80% of the votes cast against that resolution. Shareholder proposal number 2, submitted by DI Foundation and represented by Investors for Paris Compliance, has been defeated by at least 71% of the votes cast against that resolution.
Thank you. I declare each of the resolutions considered at today's meeting in respect to those matters as carried, with the exception of the two shareholder proposals, both of which have been defeated. The exact number of votes cast in respect of each matter will be filed on EDGAR and SEDAR and made available on our website. Thank you again for your strong show of support, interest, and continued loyalty by attending today's meeting. As all matters of business have been addressed, I now declare the meeting closed.
I now call upon Greg Ebel, your company's President and Chief Executive Officer, to deliver his remarks and conduct the general question-and-answer session.
Thank you, Pamela. Good afternoon, everyone. I'd like to start by acknowledging Pamela, your new Board Chair, who is the first woman and first person of color to hold the position at Enbridge. She brings tremendous experience to the company, including senior positions in industry, private practice, and government, as she served as the Attorney General for the State of Indiana. Pamela has been honored multiple times for her commitment to board excellence and diversity. It's an honor to work alongside her on your behalf. Since taking over as CEO in January, I've had the opportunity to meet with shareholders, stakeholders, customers, and employees.
Those conversations will inevitably turn to how to meet energy demand while moving to a lower carbon future, how to do this while keeping costs in check for consumers. We refer to the need for secure, sustainable, affordable energy as energy trilemma. Balancing these three objectives are the key ingredients to a smart, practical energy transition. I'm confident about the role North America and Enbridge can play in solving the trilemma, which will require collaboration with governments, communities, and Indigenous peoples.
At Enbridge, we are focused on tomorrow and the tremendous opportunity to build and invest in our energy future. It isn't an easy task, but we're making progress. Today, I'll spend a few minutes on our strategy, key achievements of 2022, what we need to advance the energy transition, and our mission to be the first choice energy provider in North America and beyond. To start with, I think it's fair to say that 2022 was an inflection point for the energy sector. Markets were extremely volatile.
Years of under-investment in new energy sources, compounded by the war in Ukraine, caused price spikes, energy shortages, and a redrawing of the energy map, with countries seeking new, secure supplies of energy. Not to mention, emissions were higher than ever before. Almost all energy forecasts show that a growing global population, urbanization, and a growing middle class will demand more and cleaner sources of energy for decades to come. Often overlooked when thinking about energy demand is that over 700 million people still have no access to electricity, and 30% of the world's population, some 2.4 billion people, use unhealthy cooking fuels like plastics and dung.
To address our energy trilemma, virtually all sources of energy are clearly needed. We firmly believe that North America has an outsized role to play by sharing its abundant energy resources with the rest of the world, resources that are produced responsibly, sustainably, and to the highest standards concerning people and the environment. Enbridge is one of the best-positioned companies to support this effort. The bottom line is that energy is essential to fuel our lives. It is a solution and an opportunity. Enbridge's strategy is to invest in energy systems that will deliver a sustainable future.
As you can see here, we have an unmatched asset footprint, and we all know that the value of pipe in the ground has never been higher. In our conventional business, we're modernizing existing assets to ensure reliability and to lower emissions. We are extending systems to meet our customer needs and expanding North American export infrastructure to meet that global demand. We are also ramping up investments in lower carbon solutions that complement our assets, including renewables, carbon capture, hydrogen, and renewable natural gas.
At the same time, we are improving our competitiveness by lowering costs, finding more efficient ways of working, and taking pride in our safety first, results-driven culture where we value high performance in everything we do. Over the last year, we've taken significant steps to advance our strategy and to ensure growth. Here are a few examples. We executed on our export strategy by focusing on providing last-mile connectivity to our customers, putting us at the forefront of North America, playing a key role in meeting global energy demand. In the U.S.
Gulf Coast, we increased exposure to the Permian Basin by acquiring the Cactus II and Gray Oak pipelines, both building off our purchase of Ingleside in 2021, which is North America's premier crude export facility. We acquired Tres Palacios' natural gas storage facility, expanding our service offering to our gas customers along the Gulf Coast. In British Columbia, we acquired an interest in Woodfiber LNG, which will be one of North America's cleanest LNG facilities, and we announced approximately $5 billion of expansion projects along our BC Pipeline to support growing demand.
Across our footprint, we continue to modernize and innovate our liquids and gas systems, the backbone of our company and a critical component of so much of our past and future successes. On the renewables side, we put Saint-Nazaire into service on time, on budget, at over $2 billion. This is France's first commercial-scale offshore wind facility, producing enough power to serve some 400,000 homes. We're building on that success. In late March, the French government awarded us and our partners the opportunity to build a 1-gigawatt offshore wind farm that is expected to produce more than half the electricity needs to Normandy, France.
In 2022, we purchased a leading U.S. renewable energy developer, Tri Global Energy, which positions us as a top 10 North American onshore renewable developer. In our gas distribution business and storage business, we started construction on three renewable natural gas or RNG projects and a green hydrogen project. These fuels are blended with natural gas to lower the carbon content and emissions. We also made an equity investment in a leading RNG developer, Divert Inc., that provides line of sight to more than $1 billion of additional growth projects.
We like RNG because it tackles two important issues: food waste and GHG emissions. We're focused on our ESG goals because they help enable our future earnings and enhance our successes. This month, we'll release our latest sustainability report, which will outline our commitments and our progress. Of course, safety is our number one priority, and reducing emissions intensity makes us a better operator, helps to fulfill our promise to be a first-choice energy provider, and helps future-proof the entire enterprise.
Our diversity and inclusion goals are all about recruiting and developing the talent we need for the future. Last year, we created our Indigenous Reconciliation Action Plan and two very important equity partnerships. One is with five indigenous nations to build a carbon capture facility in Alberta, and the other is an amazing partnership with 23 indigenous and Métis communities in our Athabasca pipeline system that we refer to as Project Rocket. These kinds of partnerships, which we intend to do more of, create a stronger connection to and a flow of income for the indigenous communities involved.
Our strong performance and growth in 2022 translated into record financial results in the upper half of our guidance target. We increased our dividend for the 28th consecutive year, including a 3.2% increase for 2023, and delivered total shareholder returns of 14%. We did so by maintaining our disciplined approach to capital allocation by prioritizing balance sheet strength and recommitting to an equity self-funded model, which gives us $6 billion in annual investment capacity. As we look forward, we'll continue to invest in tomorrow.
We are opportunity-rich with conventional, renewable, and low-carbon projects, and we're excited about the opportunities in our CAD 17 billion of secured capital. We have a true super system that offers last-mile connectivity to our domestic and export customers, and we are increasingly offering customers low-carbon solutions. Our recent announcement to develop a blue ammonia facility at Ingleside is an example of how we're using all levers to advance the practical energy transition. The strength of our core businesses, disciplined approach to capital allocation, and strong balance sheet puts us in a great position to grow while delivering leading shareholder returns, including our stable and growing dividend.
As you can tell, I'm optimistic about our energy future and our ability as Enbridge, as North America, to help solve energy challenges. There's a catch. To meet the world's growing demand for energy, we need to keep building the infrastructure that makes it all happen: the pipelines, the LNG terminals, the wind and solar operations, and the power transmission lines. The trouble is that current permitting to build projects lacks transparency, leads to inconsistent public consultation, causing delays, uncertainty, and cost overruns and underinvestment.
For example, a recent decision by the U.S. Army Corps of Engineers on Enbridge's Line five Great Lakes Tunnel Project will mean that the review and decision for the project will take some six years, three times longer than what's defined in current regulations. Electricity transmission lines, a key bottleneck in accelerating renewables, are so backed up it can literally take 4-6 years to finalize an interconnection permit. What we need is transparent, predictable, and efficient processes in Washington, Ottawa, and at state and provincial levels.
We need permitting reform that enables growth. We're seeing some progress, but we can't afford to wait or to let a quest for perfection get in the way of good solutions that have meaningful impact now. Our mission at Enbridge is to be the first-choice energy delivery company in North America, and increasingly beyond, as Enbridge now operates in five G7 countries. What I mean by this is to be the first-choice supplier to customers to meet their needs and to help them grow. The first-choice partner to communities to collaborate and contribute to their prosperity.
The first-choice investment for shareholders, delivering superior returns. The first-choice advisor to regulators and policymakers on energy issues to create win-win outcomes. Of course, the first-choice employer to be an inclusive employer of passionate, talented, and empowered people. We'll do this by maintaining a strong commitment to the values of safety, integrity, respect, inclusion, and of course, high performance. As you can see, we're on a solid path, advancing both conventional and lower carbon growth opportunities to meet the world's needs for secure, sustainable, and affordable energy.
We are financially well-positioned with a strong balance sheet that allows us to grow and take advantage of opportunities. We have a tremendous team of people at Enbridge who are smart, innovative, and committed to safety. I'd like to thank all of them for their dedication, our board of directors for their counsel and commitment to excellence, and you, our shareholders, for your continued support. We're excited about the future that we're creating, which is why we like to say at Enbridge, tomorrow is on. Thank you very much.
We'll now proceed with the general question-and-answer session. Ms. Morley, Enbridge's Director of Investor Relations, will read out any questions that have come in today for Mr. Ebel to respond to. Just a reminder that questions may only be submitted by registered shareholders and duly appointed proxy holders.
Maybe while we're gathering the questions, this is Greg Ebel. I know that we had some technical difficulties and on the second proposal, Mr. Kenyon may not have finished his statement. We'll be sure to post that if that indeed is the case. The shareholders can see that. Any questions, Ms. Morley?
No questions have been received, so we will pause for 30 seconds to allow time for questions to be submitted.
Well, thanks very much then, for everybody's involvement here today. I will turn this back over to the chair, who can conclude today's meetings.
Thank you, Greg. Thank you to everyone again for attending today's meeting. We truly value your time and commitment to our company. You may now disconnect from the broadcast.