Edison International 2021 Sustainability Report: A Message From Our CEO
Edison International is at the forefront of the clean energy transition. Our vision is to lead the transformation of the electric power industry in a way that is safe, reliable and affordable for all our customers. While the road ahead is long, I’m proud of the meaningful progress our 13,000 team members from Edison International, SCE and Edison Energy1 made in 2021 to advance our clean energy strategy and provide value to our stakeholders.
We remain committed to the global fight against climate change. In 2021, our Mind the Gap policy paper underscored actions needed in California to meet the state’s 2030 climate commitments. Building electrification was highlighted as a gap, and SCE subsequently proposed investing $677 million to support the installation of 250,000 electric heat pumps over the next four years. SCE also continued to execute its $800 million transportation electrification program, launching the second phase of Charge Ready for light-duty passenger vehicles. Last June, Edison International and SCE received one of the industry’s highest honors, the Edison Electric Institute’s (EEI) Edison Award, for transportation electrification advancement.
I was proud to lead Edison International’s delegation at the United Nations Climate Change Conference (COP26) and encouraged by the increased commitment and urgency I heard from international, national, state and business leaders. In 2021, Edison International extended our climate commitment to net-zero GHG emissions across Scopes 1, 2 and 3 by 2045 in alignment with economywide climate actions planned by the State of California.
SCE is adapting its system to the threat of climate change, including grid hardening in the near term to protect against wildfires. SCE recently published the first climate adaptation vulnerability assessment by a California investor-owned utility, with risks projected out to 2070.
Meanwhile, Edison Energy advised 22 of the Fortune 100 to support corporate customers’ renewable energy and sustainability goals in the U.S. and internationally.
Reliability & Affordability
SCE invests more than $5 billion annually to improve grid resiliency and maintain the safe delivery of clean power. In 2021, SCE announced the planned addition of 535 MW of battery storage at three strategically located substations to enhance grid reliability.
With approximately one-third of customers on an income‑assisted rate, SCE works to maintain affordable services for all. While customers are experiencing near-term rate increases, SCE’s system average rate is the lowest among large investor-owned utilities in California. Looking ahead, SCE’s work to modernize the grid and expand access to electric technologies is expected to reduce the average household's cost of energy consumption, including natural gas and gasoline expenses, by one-third by 2045.
Diversity, Equity & Inclusion (DEI)
Edison International takes pride in building an inclusive, equitable work environment and reflecting and participating in the communities we serve. In 2021, more than 80% of our shareholder-funded charitable contributions went to organizations and initiatives focused on diverse and underserved communities. Among our 10 DEI commitments, we selected the first awardees for a lineworker scholarship to diversify our talent pipeline, with the opportunity for employment following successful program completion.
We’re committed to supporting our stakeholders and look forward to our continued partnerships in the year ahead.
- Pedro J. Pizarro, President and Chief Executive Officer
1 Edison Energy is not the same company as Southern California Edison, the utility, and Edison Energy is not regulated by the California Public Utilities Commission.