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Integrated annual report 2023-Overview-BCE
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Our environment </a> </li> <li> <a href="/responsibility/our-capitals/our-people"> Our people </a> </li> </ul> </li> </ul> </li> <li class="no-sub-nav"> <a class="sub-nav-level-1 pointer" href="/responsibility/awards-and-recognition"> Awards and recognition </a> </li> </ul> <div class="cr-naviation-links"> <span class="txtBold txtSize12 txtBlack2"> Learn more</span> <ul class="cr-naviation-links"> <li> <a href="https://www.bell.ca/Bell-for-Better" class="links d-flex justify-content-between" target="_blank" rel="noopener noreferrer" aria-label="Bell for Better, opens in new tab"> Bell for Better<i class="icon2 icon-external-link txtSize12 bce-no-top floatR" aria-hidden="true"></i></a> </li> <li> <a href="https://letstalk.bell.ca/en/" class="links d-flex justify-content-between" target="_blank" rel="noopener noreferrer" aria-label="Bell Let's Talk, opens in new tab"> Bell Let's Talk<i class="icon2 icon-external-link txtSize12 bce-no-top floatR" aria-hidden="true"></i></a> </li> </ul> </div> </div> </div> </li> <li class="connector-area active-menu-item-arrow ar-header" aria-current="true"> <div class="d-flex"> <div class="icon icon-user-guide txtSize32 txtWhite d-none d-md-block" aria-hidden="true"></div> <a href="javascript.void(0)" class="connector-lob-no-href pointer" role="button" data-toggle="modal" data-target="#accept-terms-read-report"> <span class="bellSlimSemibold "> Integrated annual<br class="d-sm-none d-md-block" aria-hidden="true"/> report 2023</span> </a> </div> </li> </ul> <ul class="federal-bar-mobile"> <li> <div> <a id="languageSelector-mobile" class="js-current-language footer-header-current-language" href="#" lang ="fr" hreflang="fr" data-vanityurl="/2023-rapport-integre" data-alternative="fr" role="button"> Fran莽ais </a> </div> </li> <li> <div> <a href="/Accessibility_services" >Accessibility</a> </div> </li> </ul> </nav> <div class="connector-settings"> <!-- add d-md-block class when the project starts --> <!-- GlobalNavBlue_withSearch --> <div class="connector-search-wrap"> <!-- Coveo Search Starts --> <div id="connector-search" class="CoveoSearchbox" data-enable-omnibox="true" data-enable-partial-match="true" data-partial-match-keywords="4" data-partial-match-threshold="75%"> </div> <!-- Coveo Search Ends --> </div> <!-- GlobalNavBlue_withSearch ends --> </div> </div> </div> <div id="initial-lang-reigon-backdrop"></div> <div class="connector-active-lob modified-secondary-navigation mobile-secondary-navigation integartedARLOB" role="navigation" aria-label="Secondary"> <div class="container"> <div id="msn-left" tabindex="0" class="msn-button" role="button" aria-label="Previous"></div> <div class="link-container"> <ul class="clearfix"> <li class="active" aria-current="page"> <a href="/2023-integrated-report">Overview</a> </li> <li class="" aria-current="false"> <a href="/2023-integrated-report/chair-message">Chair message</a> </li> <li class="" aria-current="false"> <a href="/2023-integrated-report/ceo-message">CEO message</a> </li> <li class="" aria-current="false"> <a href="/2023-integrated-report/value-creation-model">Our value creation model</a> </li> <li class="" aria-current="false"> <a href="/2023-integrated-report/financial-performance">Our financial performance</a> </li> </ul> </div> <div id="msn-right" tabindex="0" class="msn-button" role="button" aria-label="Next"></div> </div> </div> </div> </header> <div id="accept-terms-read-report" class="modal fade scrollable-body accept-terms-read-report js-focus-modal-trap" role="dialog" tabindex="-1" data-backdrop="true" data-keyboard="true" aria-labelledby="accept-terms-read-report-title"> <div class="modal-dialog"> <div class="modal-content" role="document"> <div class="modal-header"> <h2 class="bellSlimBlack txtSize24 margin-b-0 txtBlack2" id="accept-terms-read-report-title"> Caution regarding forward-looking statements</h2> <button type="button" class="close" data-dismiss="modal" aria-label="close dialog" data-url="#"><span class="icon icon-close txtBlue txtSize20"></span></button> </div> <div class="modal-body scrollAdjust"> <p class="margin-b-30">The following webpages contain forward-looking statements including, without limitation, statements relating to BCE’s dividend growth objective, 2024 annualized common share dividend and dividend payout ratio level, and dividend payout policy target, BCE’s anticipated capital expenditures, network deployment plans and the benefits expected to result therefrom, our transformation initiatives and restructuring and the benefits expected to result therefrom, our ESG objectives and the benefits expected to result therefrom (which include, without limitation, our objectives concerning diversity, equity, inclusion and belonging (DEIB), customer experience, energy savings, circular economy and waste reduction, community investment, privacy and information security, network reliability, corporate governance and ethical business conduct leadership, reductions in the level of our GHG emissions including, without limitation, our carbon neutrality (scope 1 and 2 only) target and our science-based targets, and our carbon abatement objectives), the expected impacts on our company of various climate-related events, business opportunities that could result from climate change, BCE’s business outlook, objectives, plans and strategic priorities, and other statements that do not refer to historical facts. A statement we make is forward-looking when it uses what we know and expect today to make a statement about the future. Forward-looking statements are typically identified by the words <em>assumption, goal, guidance, objective, outlook, project, strategy, target, commitment</em> and other similar expressions or future or conditional verbs such as <em>aim, anticipate, believe, could, expect, intend, may, plan, seek, should, strive</em> and <em>will</em>. All such forward-looking statements are made pursuant to the safe harbour provisions of applicable Canadian securities laws and of the United States (U.S.) <em>Private Securities Litigation Reform Act of 1995</em>.</p> <p class="margin-b-30">Unless otherwise indicated by us, forward-looking statements in the following webpages describe our expectations as at March 7, 2024 and, accordingly, are subject to change after that date. Except as may be required by applicable securities laws, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in, or implied by, such forward-looking statements and that our business outlook, objectives, plans and strategic priorities may not be achieved. These statements are not guarantees of future performance or events, and we caution you against relying on any of these forward-looking statements. Forward-looking statements are presented in the following webpages for the purpose of assisting readers in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned, however, that such information may not be appropriate for other purposes.</p> <p class="margin-b-30">We have made certain economic, market, operational and other assumptions in preparing the forward-looking statements contained in the following webpages, which include, without limitation, the assumptions described in the subsections of the BCE 2023 Annual MD&A entitled <em>Assumptions</em>, which subsections are incorporated by reference in this cautionary statement. Subject to various factors, we believe that our assumptions were reasonable at March 7, 2024. If our assumptions turn out to be inaccurate, actual results or events could be materially different from what we expect.</p> <p class="margin-b-30">Important risk factors that could cause actual results or events to differ materially from those expressed in, or implied by, the previously-mentioned forward-looking statements and other forward-looking statements contained in the following webpages, include, but are not limited to, the risks described in section 9, <em>Business risks</em> of the BCE 2023 Annual MD&A, which section is incorporated by reference in this cautionary statement.</p> <p class="margin-b-30">Forward-looking statements contained in the following webpages for periods beyond 2024 involve longer-term assumptions and estimates than forward-looking statements for 2024 and are consequently subject to greater uncertainty. They assume, unless otherwise indicated, that the relevant assumptions and risks described in the BCE 2023 Annual MD&A will remain substantially unchanged during such periods.</p> <p class="margin-b-30">We caution readers that the risk factors described in the previously-mentioned section and in other sections of the BCE 2023 Annual MD&A are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also have a material adverse effect on our business, financial condition, liquidity, financial results or reputation. We regularly consider potential acquisitions, dispositions, mergers, business combinations, investments, monetizations, joint ventures and other transactions, some of which may be significant. Except as otherwise indicated by us, forward-looking statements do not reflect the potential impact of any such transactions or of special items that may be announced or that may occur after March 7, 2024. The financial impact of these transactions and special items can be complex and depends on facts particular to each of them. We therefore cannot describe the expected impact in a meaningful way, or in the same way we present known risks affecting our business.</p> </div> <div class="modal-footer"> <a class="btn btn-default col1-xs " role="button" href="/2023-integrated-report"> Agree and continue</a> </div> </div> </div> </div> <style> header.standard-outline .global-navigation .menu-flyout-visible .sub-nav-group.accss-focus-blue a:focus::before { border-color: #00549a !important; } </style> <main id="maincontent"> <section class="IRO-bg"> <div class="video-container" id="slider-rotating-carousel-component"> <video autoplay muted loop playsinline id="bannerVideo123" aria-label="from telco to techco"> <source src="/assets/responsibility/Videos/BCE_toggles_new_EN.mp4" type="video/mp4"> <source src="/assets/responsibility/Videos/BCE_toggles_new_EN.mp4" type="video/ogg"> <source src="/assets/responsibility/Videos/BCE_toggles_new_EN.mp4" type="video/webm"> This browser does not display the video tag. </video> <span class="sr-only">Better connectivity environment security network service technology education growth workplace communities mental health content world value investments opportunities</span> <button id="bannerButtonVideo123" class="slider-rotating-carousel-pause accessible-slideshow-pause hidden-sm hidden-xs" type="button" data-pressed="false" aria-label="From telco to techno Pause slide show button" data-pause-label="From telco to techno Pause slideshow" data-play-label="From telco to techno Play slideshow"> <span class="sr-only" aria-live="polite">From telco to techno Pause slideshow</span> <div aria-hidden="true" class="slider-rotating-carousel-pause-bg"></div> </button> </div> <div class="contentLink"> <h1 class="bellSlimBlack txtSize40 txtSize26-xs margin-b-0 txtSize26-xs txtBlack2 margin-b-xs-0"><span class="tile-content-display" xmlns="http://www.bell.ca/portal/">BCE 2023</span><br class="" aria-hidden="true" xmlns="http://www.bell.ca/portal/" /><br class="d-none d-sm-block d-md-none" aria-hidden="true" xmlns="http://www.bell.ca/portal/" />Integrated annual report</h1> <a href="/investors/AR-2023/2023-bce-integrated-annual-report.pdf" class="txtWhite btn btn-default txtWhite txtSize15 margin-t-30 margin-r-15" rel="noopener noreferrer" aria-label="Download the report"> Download the report </a> </div> </section> <div class="spacer60" aria-hidden="true"></div> <div class="bgWhite"> <div class="st-overview-cont container liquid-container"> <div class="cr-overview-leader flex-column flex-sm-row"> <div class="cr-overview-leader-msg2"> <img src="/assets/responsibility/images/bce_gordon_with_blur_7.png" class="lazy img-gordan img-fluid d-md-block d-xs-none d-sm-none" alt="" /> <img src="/assets/responsibility/images/GordonNixon.png" class="lazy img-fluid img-gordan d-sm-none d-xs-block" alt="" /> <img src="/assets/responsibility/images/bce_gordon_tablet.png" class="lazy img-fluid img-gordan d-sm-block d-md-none d-xs-none" alt="" /> <div class="msg-content Read Gordon’s message"> <h2 class="bellSlimBlack txtSize24 margin-b-0 txtBlack2 txtSize22-xs">Gordon Nixon</h2> <p class="sub-text same-height txtSize12 margin-v-15" data-same-height-index="1">Chair of the Board <br class="d-none d-sm-block" aria-hidden="true"/>BCE Inc. and Bell Canada</p> <a href="/2023-integrated-report/chair-message" aria-label="Read Gordon’s message" class="txtBlue d-flex align-items-center"> <span class="txtBold" aria-hidden="true">Read Gordon’s message</span> <span class="icon icon-more-details-pill txtSize16 txtBlue margin-10-left pad-r-10" aria-hidden="true"></span> </a> </div> </div> <div class="cr-overview-leader-msg2"> <img src="/assets/responsibility/images/bce_mirco_bibic_with_blur_7.png" class="lazy img-gordan img-fluid d-md-block d-xs-none d-sm-none" alt="" /> <img src="/assets/responsibility/images/mirko_bibic.png" class="lazy img-fluid img-gordan d-sm-none d-xs-block" alt="" /> <img src="/assets/responsibility/images/bce_mirco_bibic_tablet.png" class="lazy 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st-overview-marginb"> <img src="/assets/responsibility/images/financial_performance.png" alt=""> <div class="St-overview-perCard perCard-left same-height" data-same-height-index="1"> <div class="same-height" data-same-height-index="9"> <h2 class="bellSlimBlack marginAutoCheck margin-b-15">Our financial performance</h2> <p class="txtSize14 txtBlack txtCenter marginAutoCheck margin-b-30 margin-xs-0"> A look into our financial and operational highlights </p> </div> <a href="/2023-integrated-report/financial-performance" class="btn btn-default txtWhite txtSize15txtWhite" rel="noopener noreferrer" aria-label="Learn more Our financial performance"> Learn more </a> </div> </div> <div class="st-overview-bg st-overview-marginb1"> <img src="/assets/responsibility/images/key_performance_indicators_crop_new.png" alt=""> <div class="St-overview-perCard perCard-left same-height" data-same-height-index="1"> <div class="same-height" data-same-height-index="9"> <h2 class="bellSlimBlack marginAutoCheck margin-b-15">2023 ESG data summary</h2> <p class="txtSize14 txtBlack txtCenter marginAutoCheck margin-b-30 margin-xs-0">See how we take action in response to the expectations of our stakeholders and the targets we set to measure our performance and improvements.</p> </div> <a href="/responsibility/2023-esg-data-summary.xlsx" target="_blank" rel="noopener noreferrer" class="btn btn-default txtWhite txtSize15txtWhite" aria-label="2023 ESG data summary opens in new tab"> Learn more </a> </div> </div> </div> </div> </div> </section> <section> <div class="spacer30 hidden-xs" aria-hidden="true"></div> <h2 class="bellSlimBlack txtSize24 txtBlack2 txtCenter margin-b-30 pad-h-30">Download our complementary reports</h2> <div class="cr-list" role="list"> <div class="cr-list-content margin-5 no-margin-xs Read " role="listitem" > <img src="/assets/responsibility/images/BCE-empowering-march-2024-en.jpg" alt="" aria-hidden="true" /> <div> <p class="txtBlack2 text-start text-sm-center">Empowering 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aria-hidden="true"> Read </span> <span class="icon icon-more-details-pill txtSize16 margin-10-left" aria-hidden="true"></span> </a> </div> </div> <div class="cr-list-content margin-5 no-margin-xs Read " role="listitem" > <img src="/assets/responsibility/images/BCE-Sustainability-bond-mach-2022.jpg" alt="" aria-hidden="true" /> <div> <p class="txtBlack2 text-start text-sm-center">BCE Inc. 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</span></div> <div id="fna-2"><span class="prnews_span"><sup>i </sup>Rapport d'IDC <i>IoT Adoption in Canada, 2021</i> par Nigel Wallis, document d'IDC num茅ro CA47059321</span></div> <div id="fnt-1">1. As the Incumbent Local Exchange Carrier Bell Canada provides local exchange service to most MDUs in Ontario and Quebec.</div> <div id="fnt-2">2. Service is provided under Bell Canada's CRTC approved "Terms of Service" and no other written access agreements exist for these buildings.</div> <div id="fnt-3">3. Local Exchange Carriers requesting information on any other specific locations are requested to contact their Bell Canada Carrier Services Group representative via normal channels.</div> <div id="fntf-1">1. 脌 titre d'entreprise de services locaux titulaire, Bell Canada offre le service local 脿 la plupart des ILM du Qu茅bec et de l'Ontario. Le service est fourni en vertu des 芦 modalit茅s de service 禄 de Bell Canada qui sont approuv茅es par le CRTC, et aucune autre entente d'acc猫s n'existe pour ces immeubles.</div> <div id="fntf-2">2. Il existe un petit nombre d'ILM r茅cemment construits auxquels Bell Canada tente encore d'acc茅der. Veuillez consulter les sites Web publics d'autres entreprises de services locaux pour conna卯tre ces immeubles.</div> <div id="fntf-3">3. Les entreprises de services locaux qui ont besoin d'information sur tout autre immeuble sont pri茅es de contacter leur repr茅sentant des Services aux t茅l茅communicateurs de Bell Canada par les voies normales.</div> </div> <div class=" pad-v-sm-30 pad-v-30 margin-t-60 footnote-additional-details hide js-focus-modal-trap" role="dialog" aria-labelledby="footnote-title"> <div class="d-flex flex-justify-space-between align-items-center pad-b-sm-15 pad-b-25 scroll-shadow pad-h-30 pad-h-xs-15"> <h2 class="txtBold txtSize18 txtBlack magrin-b-0 " id="footnote-title"> Additional details</h2> <button type="button" class="close d-flex pad-0-force margin-0-force close-additional-details" aria-label="Close Additional details"> <span class="icon icon-close txtBlue txtBold txtSize20" role="img" title="close" aria-hidden="true"></span> <span class="sr-only" aria-hidden="true">Close Additional details icon</span> </button> </div> <div class="footnote-details-content pad-h-30 pad-h-xs-15"> <div class="txtSize14 line-height-18 margin-b-0 footnote-text"></div> </div> </div> </footer> <div id="js-loading-indicator" class="loader-fixed bgWhite container-flex-box" style="display: none;" role="alert"> <svg class="loading-indicator-circle middle-align-self" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" viewBox="0 0 48 48" aria-hidden="true"> <defs> <linearGradient id="ed1bf9d4-a7f2-4989-8a76-7b966164730a" x1="0" x2="0" y1="10%" y2="90%"><stop offset="0" stop-color="#04569b"></stop><stop offset="1" stop-color="#97b6d2"></stop></linearGradient> <linearGradient id="4762aef6-befd-4893-9ab8-18ee7b0b8817" x1="0" x2="0" y1="90%" y2="10%"><stop offset="0" stop-color="#97b6d2"></stop><stop offset="1" stop-color="#fff"></stop></linearGradient> </defs> <path fill="url(#ed1bf9d4-a7f2-4989-8a76-7b966164730a)" d="M24 3C12 3 3 12 3 24S12 45 24 45v-4c-10 0-17-8-17-17S15 7 24 7v-4z"></path> <path fill="url(#4762aef6-befd-4893-9ab8-18ee7b0b8817)" d="M24 3v4c10 0 17 8 17 17S34 41 24 41v4c12 0 21-10 21-21S36 3 24 3z"></path> </svg> Loading data, please wait... </div> <script type="text/javascript" nonce="001c00d7a7ad46f6a6118fdee2b34435"> function showAjax(visible) { document.getElementById("js-loading-indicator").style.display = visible ? 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