2022年可持續(xù)發(fā)展報告

2022

ESGSustainabilityReportContentsCanadianSolar2022ESGReportForward

Looking

StatementsContentsMessage

from

the

Chief

Executiveand

Chief

Sustainability

Officers3Responsible

Supply

Chain50ESGIntegrationinSupplyChainManagementStrategy

51Anti-ModernSlaveryInitiativesSupplierCodeofConductSupplierESGAudits51525253Highights46ConflictMineralsAbout

Canadian

SolarSustainabilityatCanadianSolar8Governance54ApproachtoEnvironment,Health,andSafety(EHS)CompliancewithEnvironmentalRegulationsInternationalESGInitiatives9BoardCommittees955565757586061This

report

has

been

prepared

bystatements

may

be

marked

by

suchterms

as

“believes,”

“expects,”SummaryofBoardMembersandDutiesDiversityoftheBoardofDirectorsBoardExpertiseandTrainingExecutiveManagement10Canadian

Solar

Inc.

(the

“Company”

or“Canadian

Solar”)

to

facilitate

betterunderstanding

of

the

Company’ssustainabilitystrategyandperformance.The

information

contained

in

this

reporthas

not

been

independently

verified.None

of

the

Company

or

any

of

its“anticipates,”

“intends,”

“estimates,”

orother

comparable

terminology.

Thoughthe

Company

considers

its

expectationsexpressed

in

such

forward

lookingstatements

reasonable,

it

cannotEnvironment

Metrics

and

Targets12EthicalBusinessConductCyberSecurityGreenhouseGasEmissions152023252628EnergyIntensityguaranteetheirrealization.TheWaterIntensityaffiliates,advisers,directors,orCompany

refers

readers

to

a

moredetailed

discussion

of

the

risks

andWasteIntensityrepresentatives

will

be

liable

(innegligence

or

otherwise)

for

any

lossesincurred

from

any

use

of

this

report

orits

contents

or

otherwise

arising

inconnectionwiththereport.ProductEnd-of-LifeManagementandRecyclingEnvironmentalStewardshipinProjectDevelopmentandOperationsandMaintenanceClimate-RelatedRisksandOpportunitiesAbout

this

Report6264uncertaintiescontainedintheCompany’sannualreportonForm20-F,as

well

as

other

documents

filed

withthe

U.S.

Securities

and

Exchange31APPENDIX:Alignment

with

StandardizedReporting

FrameworksCommission.information

provided

in

this

report,including

these

forward

lookingInaddition,allSocial

Responsibility34Certain

statements

in

this

report

areforward-looking

statements

that

involvea

number

of

risks

and

uncertainties

thatcould

cause

actual

results

to

differmaterially.

These

statements

are

madeunder

the

“Safe

Harbor”

provisions

ofthe

U.S.

Private

Securities

LitigationReformActof1995.Forward-lookingWorkingatCanadianSolar353538404145statements,

is

as

of

the

date

of

thisreport’s

release

on

the

Company’swebsite

unless

otherwise

stated,

andthe

Company

undertakes

no

duty

toupdate

such

information

except

asrequiredunderapplicablelaw.Equity,Diversity,andInclusionTCFDDisclosuresSASBIndex646568TalentStrategy,Training,andDevelopmentFreedomofAssociationandCollectiveBargainingOccupationalHealthandSafetyMakingtheDifferencethroughCommunityCommitmentGRIMetrics2MessagefromtheChiefExecutiveandChiefSustainabilityOfficersCanadianSolar2022ESGReportMessage

from

the

Chief

Executive

and

Chief

Sustainability

OfficersWe

are

pleased

to

present

Canadian

Solar’s

annualESG

Sustainability

Report,

which

showcases

theincredible

progress

we

have

made

as

a

clean

energycompany

committed

to

sustainable

practices.

As

theworld

faces

pressing

environmental

challenges,

weare

proud

to

be

at

the

forefront

of

the

clean

energyrevolution,

driving

positive

change

while

deliveringvaluetoourstakeholders.Excellent

ESG

rating

from

Achilles,

a

reputable

UKagency

evaluating

environmental,

social

andgovernance

factors

across

supply

chains.

We

havealso

committed

to

provide

climate

disclosuresthrough

CDP

and

expect

to

receive

a

score

this

year.In

addition,

we

have

expanded

our

universe

ofcertifications

in

ISO

9001,

ISO

14001,

ISO

45001,

ISO50001,

covering

a

range

of

management

systems.This

is

all

in

addition

to

the

disclosures

that

we

havebeen

providing

for

three

years

in

accordance

withSASB,

TCFD

and

GRI.

Finally,

we

remain

the

#1

mostbankable

solar

module

supplier

rated

by

BloombergNew

Energy

Finance,

a

recognition

we

have

held

formanyyears.3.

We

continue

to

ensure

ethical

labor

practices

inour

own

operations

and

those

of

our

suppliers.Last

year,

we

conducted

122

supplier

ESG

audits

andinitiated

a

third-party

assessment

to

evaluate

theeffectiveness

of

our

Anti-Modern

Slavery

Policy,Supplier

Code

of

Conduct,

and

Human

Rights

Policyin

preventing

forced

labor,

among

other

initiatives.Specifically,

we

engaged

the

Responsible

BusinessAlliance

to

conduct

a

Validated

Assessment

Program,thegoldstandard,coveringareasoflaborpractices,health

and

safety,

environment,

ethics,

andmanagement

systems.

This

is

a

lengthy

process

whichwe

are

rolling

out

to

various

facilities

and

will

reportbackinduecourse.We

are

proud

of

the

progress

we

have

made,

but

werecognize

that

our

ESG

efforts

are

a

long-term

exerciseto

improve

and

to

hold

ourselves

accountable.

Wethank

you

for

your

interest

in

Canadian

Solar

and

lookforward

toengagingwithyou

further.This

report

serves

as

a

transparent

account

of

ourefforts

to

integrate

sustainability

into

every

aspect

ofour

business,

showcasing

the

positive

impact

wehave

had

on

the

environment,

our

employees,

thecommunities

we

serve,

and

broader

stakeholders

atlarge.

We

would

like

to

highlight

three

key

areas

offocusinthisyear’sreport:2.

In

addition

to

helping

our

customers

and

otherpartners

reduce

their

carbon

emissions

andenvironmental

impact,

we

also

continue

toreduce

the

environmental

impact

from

our

ownoperations.

In

2022,

we

reduced

our

year-over-yearGHG

emissions,

energy,

water,

and

waste

intensityby

3%,

7%,

30%

and

15%

respectively.

Specifically,

onGHG

emissions

disclosures,

we

made

furtherprogress

towards

a

more

holistic

measure

of

climateimpact,

disclosing

certain

scope

3

emissions.

And

weremain

committed

to

achieving

100%

renewableenergy

generation

before

the

end

of

the

decade.

Inthis

year’s

report,

we

highlight

our

focus

on

furtherimproving

our

positive

impact

on

biodiversity,especially

during

project

development

andoperationsandmaintenanceofoursolarandbatteryenergystorageprojects.1.

We

have

significantly

expanded

ourparticipation

in

international

ESG

initiatives,recognitions,

and

certifications.

First,

we

aresupportersofUnitedNations’SustainableDevelopment

Goals,

or

SDGs.

Recently,

we

joined

theUnited

Nations

Global

Compact,

committing

tosupport

and

adhere

to

the

Ten

Principles

of

theUNGConhumanrights,labor,environment,andanti-corruption.

We

have

also

submitted

a

commitmentletter

to

SBTi

indicating

our

intention

to

set

the

near-term

and

net-zero

science-based

climate

targets.

Lastyear,

we

receivedaPrime

ESG

rating

fromInstitutional

Shareholder

Services

(ISS),

placing

usamong

the

top

5

percentile

of

the

nearly

100

globalcompaniesratedinourindustry.WealsoreceivedanShawn

QuHanbing

ZhangChairmanandChiefExecutiveOfficerChiefSustainabilityOfficer3HighlightsCanadianSolar2022ESGReportHighlights22-year

track

record

as

a

global

tier

1

player

in

thesolar

industry2017

---

2022

Energy

Conservation

and

Emission

ReductionAround

94

GW

of

solar

modules

delivered

to

customers

across

the

world,equivalent

to

displacing

approximately

240

million

tons

of

CO?

emissions,poweringover23

millionhouseholds20%

decreasein25%

decreaseinenergyintensityGHGemissionsintensityNearly

9

GWp

of

solar

projects

and

3

GWh

of

energy

storage

projectsenergizedworldwide67%

decreasein45%

decreaseinwaterintensitywasteintensityOver18,000employeesglobally36%

of

workforce

is

female,

with

25%

of

middle

management

positions

and8%

of

senior

management

positionsfilledbywomen

in

2022ESG

GoalsBloomberg

New

Energy

Finance

–

#1

most

bankable

solar

module

supplierwith100%bankabilityOntracktoachievethegoalofpoweringglobaloperationswith100%renewableelectricitybefore2030100%Revenues

related

to

renewable

energySolar

modules

have

greenhouse

gas

(GHG)

payback

time

of

1

year,

afterwhich

they

become

carbon

neutral

assets

that

typically

last

for

30

years

orlongerFrom2022to2027,wearetargeting:28%

decreasein29%

decreaseinItalianEPDandFrenchECSLifecyclecertificationsforsolarmodulesGHGemissionsintensityenergyintensityISO

Certifications:ISO9001Qualitymanagementsystem26%

decreasein23%

decreaseinISO14001EnvironmentalmanagementsystemISO45001OccupationalhealthandsafetysystemISO50001Energymanagementsystemwaterintensitywasteintensity4HighlightsCanadianSolar2022ESGReportHighlightsInternational

ESG

Initiatives

and

RecognitionsBy

joining

the

United

Nations

Global

Compact

(UNGC),

Canadian

Solaris

committed

to

supporting

the

Ten

Principles

of

the

UNGC

on

humanrights,

labor,

environmental,

and

anti-corruption,

and

contributing

to

theachievements

of

the

United

Nations

Sustainable

Development

Goals(SDGs).Our

work

has

contributed

to

the

following

UN

SDGs,

including

but

notlimitedto:UnitedNationsGlobalCompactClimateChange2023QuestionnaireSubmittedActiveParticipantISSESGCorporateRatingScienceBasedTargetsPrimeStatusCommitment

LetterSubmittedAchillesESGAssessmentRBAValidatedAssessmentProgramExcellentRatingSilver-LevelRecognition5AboutCanadianSolarCanadianSolar2022ESGReport1

About

Canadian

SolarCanadian

Solar

Inc.

(the

“Company”

or

“CanadianSolar”)

was

founded

in

2001

in

Canada

and

is

one

ofthe

world’s

largest

solar

and

battery

energy

storagecompanies.Canadian

Solar

is

a

leading

manufacturer

of

solar

photovoltaic

modules

andprovides

comprehensive

solutions

for

solar

energy

and

battery

storage.

It

isalso

a

developer

of

utility-scale

solar

power

and

battery

storage

projects

with

ageographically

diversified

pipeline

in

various

stages

of

development.

CanadianSolar

has

successfully

delivered

approximately

94

GW

of

premium-quality,

solarphotovoltaic

modules

to

customers.

Moreover,

since

entering

the

projectdevelopment

business

in

2010,

Canadian

Solar

has

developed,

built,

andconnected

nearly

9

GWp

of

solar

power

projects

and

3

GWh

of

battery

storageprojects

across

the

world.

Currently,

the

Company

has

approximately

600

MWpof

solar

power

projects

in

operation,7

GWp

of

projects

under

construction

or

inbacklog

(late-stage),

and

an

additional

18

GWp

of

projects

in

advanced

andearly-stage

pipeline.

In

addition,

the

Company

has

a

total

battery

storageproject

development

pipeline

of

47

GWh,

including

2

GWh

under

constructionor

in

backlog

and

an

additional

45

GWh

at

advanced

and

early-stagedevelopment.

Canadian

Solar

is

one

of

the

most

bankable

companies

in

thesolar

and

renewable

energy

industry,

having

been

publicly

listed

on

theNASDAQsince2006.61MWSunEnergyUtilitySolarPlant,SpainAboutCanadianSolarCanadianSolar2022ESGReportThe

Company

has

two

business

segments:CSI

Solar

and

Recurrent

Energy(formerly

Global

Energy).North

AmericaEuropeAsiaPacificCanadaU.S.GermanySpainFranceP.R.

ChinaSuzhou:ChinaHQBeijingSouthKoreaSeoulGuelph:GlobalHQCalgaryAustin:NorthAmericaHQWalnutCreekNewYorkCityMunich:EMEACSISHQ

Madrid:EMEAREHQFrankfurtBiarritzItalyNetherlandsAmsterdamGwangjuCSI

Solarconsists

of

solar

module

and

battery

storagemanufacturing,

and

delivery

of

total

system

solutions,including

inverters,

solar

system

kits

and

EPC(engineering,procurement,andconstruction)services.CSI

Solar’s

battery

storage

business

includes

both

itsutility-scale

turnkey

battery

system

solutions,

as

wellas

a

small

but

growing

residential

battery

storagebusiness.

These

storage

systems

solutions

arecomplemented

with

long-term

service

agreements,including

future

battery

capacity

augmentationservices.U.K.ChangshuFuningMilanIndiaLondonPolandYanchengDafengNewDelhiWarsawThailandLuoyangBaotouChonburiJiaxingVietnamJiuquanSuqianHaiPhongXiningMalaysiaTaiyuanKualaLumpurJinanGuangzhouHongKong,SARSingaporeSingaporeRecurrent

Energy(formerly

Global

Energy)

is

one

ofthe

world’s

largest

clean

energy

project

developmentplatforms

with

14

years’

experience

delivering

nearly

9GW

of

solar

power

projects

and

3

GWh

of

batterystorage

projects.

It

is

vertically

integrated

and

hasTaiwan,

ChinaAustraliaMelborneSydneyHsinchuLatinAmericaJapanTokyoBrazilS?oPauloMexicoMexicoCityColombiaBogotáOsakastrongexpertiseingreenfieldorigination,FukuokaSendaiMiddle

Eastand

Africadevelopment,

financing,

execution,

operations

andmaintenance,andassetmanagement.ChileU.A.E.AbuDhabiDubaiManufacturingoperationsSantiagoSouth

AfricaCapeTown7AboutCanadianSolarCanadianSolar2022ESGReportSustainability

at

Canadian

SolarThe

following

corporate

policies

provide

a

framework

for

CanadianSolar’s

sustainability

commitments:As

aglobal

leader

in

the

renewable

energy

sector,

Canadian

Solar's

mission

is

to

power

theworld

with

solar

energy

and

contribute

to

creating

a

cleaner

Earth

for

future

generations.EnvironmentalSocialEnvironment,LaborandHumanRightsPolicy(link)OccupationalHealth,andSafetyPolicy(link)EqualEmploymentOpportunityPolicy(link)Anti-ModernSlaveryPolicy(link)DiversityPolicy(link)The

total

electricity

generated

by

94

GW

of

cumulative

solar

modules

we

shipped

over

the

past

22

years

isequivalent

to

displacing

approximately

240

million

tons

of

CO?

emissions

or

powering

over

23

millionhouseholds.1SupplierCodeofConduct(link)ConflictMineralsPolicy(link)At

Canadian

Solar,

we

embed

Environmental,

Social,

and

Governance

considerations

into

our

business

andstrategicdecisions,continuouslystrivingtoimproveourpracticestoensurelong-termsustainability.GovernanceCodeofBusinessConductandEthics(link)WhistleblowerPolicy(link)Working

sustainably

within

our

planetary

boundariesInsiderTradingPolicy(link)Related-PartyTransactions(link)ProhibitionagainstGivingBribes(link)ProhibitionagainstAcceptingBribes(linkGHGemissionsandmanufacturingenergyintensityCommitmentto100%renewableenergybefore2030EnvironmentalSolarPVsystemcarbonpaybacktimeof1yearWaterintensitymanagementMaterialuse,waste,andcircularityEnvironmentalstewardshipinprojectdevelopmentAssessingclimaterisksandopportunitiesCommitting

to

socially

responsibleand

equitable

outcomesDemonstrating

responsible

conductHumanrightsPoliciesandproceduresEqualopportunityemployerGovernanceSocialBoardleveloversightEquity,diversity,andinclusionTalentstrategy,training,anddevelopmentFreedomofassociationandcollectivebargainingHealthandsafetyAppropriateduediligenceprocessesResponsiblesupplychainmanagementRobustESGreportingTransparencyandriskmanagementCommunitycommitmentsandpartnerships1

Actual

CO?

net

avoided

emissions

depend

on

specific

PV

project

location,

application,

and

grid

electricity

mix.

The

estimate

presented

here

intends

toprovide

an

approximate

value

of

the

contribution

of

PV

energy

production

against

climate

change.

Calculations

are

based

on

utility

PV

annual

averagecapacityfactorandavoidedCO?

emissionsrateasreportedbytheU.S.EnvironmentalProtectionAgency(EPA).GHGemissionsfromPVmodulesandbalanceof

systems

(BOS)

manufacturing,

as

well

as

transport,

construction,

operation

and

decommissioning

have

been

taken

into

account.

Please

see

EPA

websiteforfurtherdetails(link).8AboutCanadianSolarCanadianSolar2022ESGReportApproach

to

Environment,

Health,

and

Safety

(EHS)Compliance

with

Environmental

RegulationsCanadian

Solar

is

committed

to

providing

a

safe

and

fulfilling

workenvironment

for

all

our

employees

and

contractors.

Additionally,

we

striveto

minimize

the

impact

of

our

business

operations

on

the

environment,respecting

nature,

and

biodiversity.100%

of

Canadian

Solar’s

revenues

are

derived

fromrenewable

energy,

as

our

business

model

is

basedon

helping

our

customers

achieve

their

clean

energygoals.

That

said,

we

are

cognizant

that

ourmanufacturing

operations

produce

wastewater,

airemissions,

noise,

and

other

industrial

waste.Canadian

Solar

abides

by

environmental

laws

andregulations,

and

has

obtained

all

necessaryenvironmental

permits,

including

those

related

towastewater

discharge,

air

emissions,

and

thehandling

and

disposal

of

solid

and

hazardous

wasteand

chemicals

to

conduct

business

at

existingmanufacturing

facilities.

We

also

continuouslymonitor

regulatory

changes

in

the

jurisdictions

inwhich

we

operate

to

remain

in

compliance

withrelevantenvironmentallawsandregulations.conditions

of

use.

Our

system

solutions,

includingstring

inverters,

comply

with

the

European

Union’sRoHS(RestrictionofHazardousSubstances)Directive22011/65/EU

and

its

amendments.

Our

photovoltaicmodules

are

exempted

from

CLP

(Classification,Labelling,

and

Packaging

of

substances

andmixtures)

regulation

according

to

(EC)

No.1272/2008.To

attain

environmental

excellence,

we

implementWe

have

standardized

our

EHS

objectives

to

facilitatecontinuous,

measurable

enhancements

across

ouroperations.

Environmental,

health,

and

safetyconsiderations

are

integrated

into

every

facet

ofmeasures

aimed

at

preventing

pollution,

conservingenergy,

and

managing

waste,

particularly

in

relation

tohazardous

or

restricted

substances.

We

developproducts

that

utilize

raw

materials

and

processes

thatminimize

environmental

impact

throughout

theproduct

life

cycle

from

design

and

manufacturing

tocustomer

use

and

end-of-life

disposal.

Prioritizing

thesafety

and

well-being

of

our

employees,

contractors,and

partners,

we

strive

to

maintain

an

injury-freeworkplace,

deploying

advanced

standards

andsystemstoupholdthiscommitment.All

our

photovoltaic

module

designs

undergoToxicity

Characteristic

Leaching

Procedure

(TCLP)testing

to

monitor

the

presence

of

any

toxic

metalsubstances

(arsenic,

barium,

cadmium,

chromium,lead,

mercury,

selenium,

silver)

according

to

TCLPStandard

EPA

Test

Method

1311,

as

issued

by

theU.S.

Environmental

Protection

Agency

(EPA)

underthe

Toxic

Substances

Control

Act

(TSCA)

for

landfilldisposal

of

modules.

We

also

closely

monitorregulations

under

the

EPA’s

TSCA,

governing

themanufacturing

and

use

of

chemical

substances

inthe

U.S.

Our

photovoltaic

modules

adhere

to

thelatest

ruling

requirements

over

PBT

Chemicals(Persistent,

Bioaccumulative,

and

Toxic)

under

theTSCA.CanadianSolar'soperationthroughourcomprehensive

management

system,

which

isgrounded

in

recognized

third-party

standards.

Theseinclude

ISO

14001

(environmental

managementsystem),

ISO

45001

(occupational

health

and

safetymanagementsystem),ISO50001(energymanagement

system),

and

other

industry

bestpractices.Furthermore,

Canadian

Solar

carries

out

extensiveenvironmental,

health,

and

safety

studies

during

thedevelopment

stage

of

our

solar

and

battery

storageprojects

to

assess

and

reduce

their

environmentalimpactsandpotentialhazardstoemployees.We

have

intensified

the

inspection

of

our

suppliers’ESG

performance

and

implemented

ESG

complianceauditsacrossoursupplychainsince2021.At

the

product

level,

our

solar

modules

and

systemsolutions

adhere

to

the

European

Union’s

REACH(Registration,Evaluation,Authorization,andRestriction

of

Chemicals)

regulation

for

chemicals(EC)

No.

1907/2006

and

follow

the

implementationguidelines

issued

by

the

European

Chemical

Agency(ECHA).

Our

products,

classified

as

“articles”

withinthe

REACH

directive,

do

not

release

any

chemicalsubstancesundernormalorreasonablyforeseeable300MWsolarplus561MWhstorage,Slatesolarandbatterystorageplant,U.S.2

Solar

PV

modules

are

exempted

from

European

Restriction

of

Hazardous

Substances

(RoHS)

legislation

as

part

of

the

decision

from

the

EuropeanCommission

to

ensure

the

achievement

of

renewable

energy

targets.

Per

article

2

of

the

RoHS

directive,

“This

directive

does

not

apply

to:

[…]

photovoltaicpanels

intended

to

be

used

in

a

system

that

is

designed,

assembled

and

installed

by

professionals

for

permanent

use

at

a

defined

location

to

produceenergyfromsolarlightforpublic,commercial,industrialandresidentialapplications.”9AboutCanadianSolarCanadianSolar2022ESGReportInternational

ESG

InitiativesISS

ESG

Corporate

Rating,

Prime

StatusAchilles

ESG

Score,

Excellent

RatingCanadian

Solar

received

an

Excellent

rating,

from

Achilles

(link),

the

highest

possible

rating.

The

Achilles

ESGscore

allows

companies

to

quickly

see

potential

environmental,

social,

and

governance

issues

in

their

supplychains

through

a

series

of

rigorous

questionnaires.

Achilles

pre-qualifies

suppliers,

scores

them,

andbenchmarks

each

supplier

across

ESG,

financial,

and

health

and

safety

standards.

Founded

in

the

1990s

andheadquartered

in

Abingdon,

U.K.,

Achilles

currently

serves

a

network

of

over

550

buyers

and

100,000suppliersacrossvariousindustries.Canadian

Solar

was

awarded

a

“Prime”

ESG

status

with

a

B

rating

by

ISS

ESG

(link)

in

early

2023.

This

ratingplaces

Canadian

Solar

among

the

top

5%

or

as

one

of

the

industry

leaders

or

in

the

top

5%

in

thesemiconductors

sector.

The

ISS

ESG

Corporate

Rating

provides

investors

with

a

highly

relevant,

material,sector-specific

and

forward-looking

assessment

of

a

company's

environmental,

social,

and

governanceperformance.

ISS

ESG

is

the

responsible

investment

arm

of

ISS

(Institutional

Shareholder

Services

Inc.).

ISS,founded

in

1985

and

headquartered

in

Maryland,

the

U.S.,

is

the

world’s

leading

provider

of

environmental,social,

and

governance

solutions

for

asset

owners,

asset

managers,

investors,

and

asset

servicing

providers.ISS

ESG

awards

“Prime”

status

to

companies

with

an

ESG

performance

above

the

sector-specific

primethreshold.United

Nations

Global

Compact

(UNGC)In

June

2023,

Canadian

Solar

joined

the

United

Nations

Global

Compact,

the

world’slargest

corporate

sustainability

initiative

(link).

By

joining

the

UNGC,

Canadian

Solardemonstrated

our

committment

to

supporting

and

adhering

to

the

Ten

Principles

of

theUnited

Nations

Global

Compact

on

human

rights,

labor,

environment,

and

anti-corruption,

and

taking

actions

to

contribute

to

the

United

Nations’

SustainableDevelopment

Goals

(UN

SDGs)

(link).

Launched

in

2000,

the

UN

Global

Compactcomprises

of

more

than

9,500

companies

and

3,000

non-business

signatories

based

inover160countriesandmorethan70localnetworks.TheDistributionofRatingsindicatesthecompany'sperformancerelativetoitsindustrypeers.10AboutCanad