New climate report identifies opportunities to do more to deliver clean energy solutions for customers
NEW ORLEANS, April 22, 2019 /PRNewswire/ -- Entergy Corporation (NYSE: ETR) today announced new steps it is taking to bring value to its customers while supporting a lower carbon future and communities that are more sustainable and resilient.
The steps are outlined in the company's new Climate Scenario Analysis and Evaluation of Risks and Opportunities. The climate report builds on Entergy's longtime history of leadership in addressing climate change risks and details the company's ambitious new strategy and ongoing efforts to manage those risks, further reduce emissions, navigate climate policy uncertainty and plan for future investments that deliver value for the company's customers, employees, communities and owners.
"In 2001, Entergy led the industry by becoming the first U.S. utility to voluntarily limit carbon dioxide emissions," said Leo Denault, Entergy's chairman of the board and CEO. "Today, we have the opportunity to do more. We're pleased to announce a new climate objective. By 2030, Entergy will emit 50 percent less carbon dioxide for every unit of electricity than we did in 2000. This renewed commitment to the environment not only delivers clean energy solutions for our customers, it creates long-term, sustainable value for all our stakeholders."
The report follows recommendations of the Task Force on Climate-Related Financial Disclosures. Report highlights include:
- Historic Leadership and a New 2030 Goal – Entergy is building on its nearly 20-year history of environmental stewardship with its new goal of reducing by 2030 its emission intensity by half the level it was in 2000.
- Climate Strategy – Entergy has a long history of evaluation, disclosure and action related to climate change. The report outlines and describes the company's overall environmental and climate strategy.
- Partnerships for Decarbonization – The company is developing new ways to partner with customers to help them save money, use energy more efficiently and meet their sustainability and environmental goals.
- Scenario Analysis – A detailed analysis of several potential carbon abatement scenarios through 2030 is provided.
- Guiding Principles for Climate Policy – Entergy continues to believe that an economy-wide price on carbon is the most efficient and pragmatic path forward for federal climate policy.
- Investments in Clean Generation – The company is investing billions of dollars in capital over the next three years in modern, efficient natural gas and renewable generation assets while ensuring the long-term value of Entergy's nuclear power generation through technology upgrades and other improvements.
- Grid Modernization, Electrification and Energy Efficiency – Entergy is investing billions of dollars over the next five years in grid modernization and transmission and distribution infrastructure to improve resiliency and efficiency. The company is developing new ways to partner with customers to help reduce their own emissions by electrifying their energy needs and operations, reducing equipment operation and maintenance costs, and improving energy efficiency.
- Governance and Risk Management – Longstanding, robust governance structures and risk management processes effectively address climate risks and opportunities.
- Engagement and Transparency – Entergy is informing and engaging stakeholders on the company's current and ongoing efforts to manage climate risk and evaluate future opportunities.
- Continuous Improvement – With continued planning and stress-testing of potential investments, Entergy can lead the regional transition to a low-carbon economy.
Entergy and its subsidiaries already operate one of the cleanest large-scale generation fleets in the United States, as noted in the Benchmarking Air Emissions report by M.J. Bradley & Associates. The company is on target to meet its current environment goals, which lasts through 2020. Through 2018, Entergy's cumulative carbon emissions were approximately 8% below the company's goal for 2020.
To read Entergy's Climate Report and Scenario Analysis, visit entergy.com/ClimateReport.
About Entergy Corporation
Entergy Corporation (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of $11 billion and nearly 13,700 employees.
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SOURCE Entergy Corporation