PortsToronto Releases 2024 Annual Integrated Report
PortsToronto today released its 2024 annual integrated report. Entitled “People. Planet. Purpose,” the report combines the organization’s annual financial statements with its award-winning ESG (Environmental, Social and Governance) reporting to provide a comprehensive overview of PortsToronto in the last year. More specifically, the report details PortsToronto’s operational achievements, key metrics and financial results, together with descriptions and disclosures regarding PortsToronto’s ESG programs, which strive to achieve high measures of environmental sustainability, community resilience and responsible governance. Highlights of the report include:
People
- Invested more than $1 million in community initiatives in 2024, bringing total contributions to community and environment to $30 million since 2009.
- Engaged 3,700 visitors in the first Girls Take Flight event at Billy Bishop Toronto City Airport, designed to encourage girls and underrepresented youth to pursue aviation and aerospace careers.
- Unveiled “Shagi,” a vibrant mural by Anishnabek artist Que Rock at the Cruise Ship Terminal.
Planet
- Achieved Airport Carbon Accreditation Level 1 at Billy Bishop Toronto City Airport.
- Removed approximately 175,000 small pieces of plastic debris (total weight over 600 kg) from Lake Ontario through innovative Trash Trapping program.
- Formalized PortsToronto’s ESG strategy and completed a climate scenario analysis to guide climate change adaptation efforts.
- Facilitated the delivery of cargo by ship that replaced the equivalent of 57,000 large trucks moving on local roadways—a safer and cleaner alternative.
- Continued using renewable energy and reducing carbon emissions with Bullfrog Power.
Purpose
- Generated more than $2.1 billion in economic output at Billy Bishop Toronto City Airport, and $460 million in economic activity at the Port of Toronto, supporting nearly 6,500 jobs at these locations.
- $8.5 million in payments to local and federal governments in the form of property taxes, Payments in Lieu of Taxes (PILTs) and Gross Revenue Charges.
- Welcomed more than 170 cargo ships moving two million metric tonnes of cargo at the Port of Toronto; welcomed 18,000 passengers to Toronto aboard 34 cruise ships.
- Served two million passengers at Billy Bishop Toronto City Airport, which was named “Canada’s Best Airport” by AirHelp.
The past year was another strong one for the organization with growth across all of our businesses and significant progress on key goals and priorities, including the commencement of negotiations for an extended term on the Tripartite Agreement for Billy Bishop Toronto City Airport, and further optimization of the Port to move goods and people to Toronto. These and other achievements are detailed in our 2024 Annual Integrated Report – a new format that combines our traditional annual report with our award-winning ESG reporting to provide a comprehensive overview of the past year for the organization, and a record of our achievements against a variety of metrics ranging from operations to finance, environment to community investment.
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The Toronto Port Authority owns and operates Billy Bishop Toronto City Airport, which welcomes approximately two million passengers and generates approximately $2 billion in economic impact per year; the Outer Harbour Marina, one of Canada’s largest freshwater marinas; and the marine Port of Toronto, which facilitates businesses such as marine shipping, cargo services and passenger cruises to generate approximately $460 million in economic activity annually. Since 1911, and in its role as a city builder, the Toronto Port Authority has worked with partners and every level of government to enhance Toronto’s transportation infrastructure and economic growth. The Toronto Port Authority is committed to fostering strong, healthy and sustainable communities, and has invested more than $30 million in recent years to fund charitable initiatives and environmental programs that benefit communities along Toronto's waterfront and beyond.
The Toronto Port Authority is a federal agency and operates in accordance with the Canada Marine Act. It is guided by a Board of Directors that includes representation from all three levels of government.