Duke Energy Joins Industry Initiative to Enhance Sustainability Reporting for Investors
Pilot program aims to standardize reporting on environmental, social, governance and sustainability metrics.
CHARLOTTE, N.C., December 7, 2017 /3BL Media/ -- Duke Energy, an industry leader in transparent environmental, social and governance (ESG) reporting, is now helping pilot an innovative industry-wide approach to better communicate progress on ESG and sustainability issues.
The new reporting template was developed as part of an ongoing initiative by Edison Electric Institute (EEI) and its member companies to help provide investors with more uniformity and better consistency for ESG/sustainability metrics.
"Duke Energy has a long-standing track record of providing comprehensive information about our ESG activities to investors, customers and other stakeholders," said Mike Callahan, Duke Energy's vice president of investor relations. "Sustainable investing is gaining momentum and we want to make it even easier for investors to incorporate ESG considerations into their investing strategies."
Duke Energy is executing a strategy to deliver a cleaner, more sustainable energy future for customers. The company's ESG/sustainability efforts earned it a place on the Dow Jones Sustainability North American Index for the 12th consecutive year in 2017. Highlights of Duke Energy's efforts include:
- Since 2005, Duke Energy's U.S. carbon dioxide (CO2) emissions decreased by 29 percent, sulfur dioxide (SO2) emissions decreased by 94 percent and nitrogen oxides (NOx) emissions decreased by 70 percent.
- By 2030, the company plans to reduce carbon dioxide emissions 40 percent from 2005 levels.
- Since 2007, Duke Energy has grown its renewable generation portfolio and now has more than 5,400 megawatts of wind, solar and biomass capacity – owned or under contract.
- The company is on track to reduce customer energy consumption by 15,000 GWh by 2020, which is equivalent to the annual usage of 1.25 million homes.
- Electric customers continued to benefit from rates below the national average in all customer classes and all service areas.
- The company is on target to recycle 80 percent of its solid waste by 2018. Currently, 76 percent of the solid waste produced by Duke Energy is recycled.
In order to assess current ESG/sustainability reporting practices, Duke Energy joined an EEI working group to consult with institutional investors in developing an ESG reporting template that provides ESG metrics in a format that's uniform and succinct. Over several months, the group consulted with investors who specialize in asset management, ESG/sustainability, investment banking, and buy-side and sell-side research, as well as a diverse mix of electric company officials. More information about the EEI initiative here.
Duke Energy's pilot ESG/sustainability template is available at duke-energy.com/investors. Duke Energy also publishes an annual Sustainability Report that summarizes its efforts to advance energy efficiency, develop renewable energy, reduce emissions and more. The 2016 report is available online at sustainabilityreport.duke-energy.com.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.