Constellation’s First Sustainability Report Details Strategy to Lead the Clean Energy Transition, Fight the Climate Crisis
Reliability of nuclear fleet, strength of customer-facing business and commitment to equity in energy help accelerate shift to a clean energy future
BALTIMORE, September 07, 2022--(BUSINESS WIRE)--Constellation (NASDAQ: CEG), the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services, today released its first sustainability report, highlighting its efforts to accelerate the transition to a carbon-free future, mitigate the climate crisis and support energy equity and environmental justice.
Driven by its nearly 12,000 employees last year, Constellation delivered value to customers, communities and shareholders through its industry-leading operational performance of the nation’s most reliable zero-emission generation fleet and its lower-emissions natural gas assets, as well as a comprehensive suite of clean energy products and services designed to help customers reduce their carbon footprints and achieve environmental goals.
"Seven months ago, we launched Constellation as a leader in the clean energy transition. This report provides a blueprint of where we are and where we will go," said Joe Dominguez, president and CEO, Constellation. "The foundation is the continued operation of our always-on nuclear fleet, which is unrivaled in producing clean, reliable electricity and offers added environmental value by functioning as versatile clean energy centers that will help decarbonize other sectors of the economy. Coupled with our platform of customer-focused energy solutions, Constellation will help America tackle the climate crisis and create family sustaining jobs and economic opportunities for our communities."
The Clean Energy Center Model
The report details an innovative clean energy center model, powered by always-on carbon-free nuclear plants, that will bring together new and emerging technologies to help decarbonize other polluting sectors of the economy. Constellation plans to leverage the production of its emissions-free nuclear assets by co-locating with data centers, exploring direct air capture of carbon dioxide from the atmosphere, and producing clean hydrogen and other sustainable fuels to reduce industrial, agricultural and transportation pollution. Fuels made with hydrogen can also be leveraged to reduce and eventually eliminate carbon from our lower-emissions natural gas fleet.
24/7/365 Carbon-Free Energy
This year’s report outlines the need to begin transitioning toward a more accurate carbon accounting approach, along with the tools Constellation is helping to pioneer. A true clean energy grid will require enough carbon-free energy to meet demand for every hour of every day, ensuring consumers have clean electricity whenever they need it, for whatever needs to be powered, wherever they are in the country. Constellation has partnered with Microsoft to develop a 24/7/365 carbon-free energy (CFE) matching platform to help customers achieve true-zero emissions, as opposed to the current practice of annualizing renewable certificates or credits. Constellation’s 24/7/365 product will be the most advanced, hourly CFE matching solution of its kind.
Additional Constellation Sustainability Report Highlights:
Cemented position as largest U.S. producer of carbon-free energy, generating 10 percent of the nation’s clean electricity, nearly as much as its next two competitors combined
Established Constellation’s industry-leading climate commitment:
95 percent clean owned electricity generation by 2030 and 100 percent clean by 2040
100 percent reduction in operational emissions by 2040
100 percent of C&I customers provided with customized carbon emissions reports by the end of 2022
Produced 163 terawatt hours of zero-emissions electricity in 2021 via our nuclear fleet, enough to power 14.9 million homes
Equipped our customers with greenhouse gas reports showing the carbon footprint associated with their energy purchases from our company to allow them to better assess their carbon emissions, abatement plans and potential solutions
Provided $5.2 million in corporate community grants and $5 million in employee donations across 31 states in 2021, 84 percent of which supported organizations, programs and events specifically targeted to diverse and underrepresented populations
Created a DEI Center of Excellence to continuously strengthen commitments to diversity, equity and inclusion, supporting the needs of employees, customers and communities
For more information on Constellation’s corporate sustainability initiatives, please visit constellationenergy.com/csr.
Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to millions of homes, institutional customers, the public sector, community aggregations and businesses, including three fourths of Fortune 100 companies. A Fortune 200 company headquartered in Baltimore, our fleet of nuclear, hydro, wind and solar facilities have the generating capacity to power approximately 20 million homes, providing 10 percent of all carbon-free energy on the grid in the U.S. Our fleet is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is nearly 90 percent carbon-free. We have set a goal to achieve 100 percent carbon-free power generation by 2040 by leveraging innovative technology and enhancing our diverse mix of hydro, wind and solar resources paired with the nation’s largest nuclear fleet. Follow Constellation on Twitter @ConstellationEG.
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