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Dominion Energy is Leading the Transition to Clean Energy, CEO Says in New Report

- Sustainability Report Confronts Challenge of Climate Change, Defines Strategy to Combat It

- Details Company's Actions on Environmental Stewardship, Community Service, Diversity and More


RICHMOND, Va., Oct. 10, 2019 /PRNewswire/ -- Dominion Energy today released its annual Sustainability & Corporate Responsibility report, which reviews the company's progress on environmental and social responsibility and operational initiatives in 2018 and establishes new commitments for 2019 and beyond.

"The people of Dominion Energy are leading the country's transition to clean energy," said Dominion Energy chairman, president and chief executive officer Thomas F. Farrell, II. "We are transforming everything we do to build a more sustainable future for our customers, the planet and our company. As we look to the future, one important priority will be addressing Gov. Northam's executive order on clean energy. That will be a major focus of next year's report."

The Sustainability & Corporate Responsibility Report outlines Dominion Energy's performance in areas of interest to stakeholders, from cybersecurity and nuclear safety to environmental justice.

The report describes climate change as "one of the most challenging issues of our time" and discusses how the company is addressing it by deploying thousands of megawatts of solar and wind power, pursuing industrial-scale energy storage and sharply cutting carbon and methane emissions. Such efforts are part of a broader company strategy to lower greenhouse-gas emissions across the 18 states where Dominion Energy does business.

"We intend to be one of the most sustainable companies in the United States," Farrell said. "If anyone harbors any doubts on that score, this report should put such doubts to rest."

The report explores the many ways the company contributes to the common good in the following key areas:

Clean Energy

  • Dominion Energy has built the fourth-largest solar portfolio among utility holding companies.
  • The company is developing the largest offshore wind farm in the United States.
  • It has joined with Smithfield Foods in the largest renewable natural gas program in history.
  • It is extending the life of its Virginia nuclear power plants to guarantee carbon-free energy 24/7.

Environment

  • Dominion Energy has cut carbon-dioxide emissions 52 percent since 2005 and prevented more than 250,000 metric tons of methane from entering the atmosphere in the past decade — the equivalent of planting more than 103 million trees.
  • The company has committed to reduce carbon emissions from its power stations 55 percent by 2030 and 80 percent by 2050, and to cut methane emissions in half by 2030.
  • The company also is using less water, composting organic waste, applying zero-landfill policies and finding innovative ways to protect wildlife and wildlife habitat.

Serving Customers and Communities

  • 2018 marked the company's safest year ever, beating the record set in 2017.
  • Dominion Energy contributed nearly $35 million to social betterment in 2018, and employees volunteered more than 126,000 hours to community service projects.
  • The company's gas and electric rates for both residential and industrial customers rank among the most competitive in the country.

Employee Experience

  • The company is modernizing workspaces to enhance employee satisfaction and meet LEED sustainable design standards.
  • It was recognized by Forbes Magazine as one of the best places to work for women.
  • It raised its diverse hiring rate from 27 percent to 42 percent from 2013 to 2018.
  • One in five new hires is a veteran.
  • It increased the reimbursement for continuing education from $5,250 to $7,500.

"This report shows how deeply committed Dominion Energy is to the welfare of our customers, the environment, our employees and the communities where we work," said Carter Reid, Dominion Energy Executive Vice President. "We take that commitment seriously, and our performance shows it. Actions speak louder."

Dominion Energy is leading the nation in environmental and social responsibility through initiatives ranging from electric school buses to coal-ash removal and recycling, as well as through its superior track record of improved safety, low rates, veteran hiring and more. Its latest Sustainability & Corporate Responsibility Report — the most comprehensive to date — delivers on the company's dedication to openness and transparency by including sections on corporate governance and stakeholder engagement; social and workforce metrics; and indices that map to standards from the Global Reporting Initiative and the Sustainability Accounting Standards Board, as well as the United Nations' Sustainable Development Goals.

To learn more, you can view the full report online at sustainability.dominionenergy.com.

About Dominion Energy
Nearly 7.5 million customers in 18 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and is one of the nation's largest producers and transporters of energy with more than $100 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution and import/export services. The company expects to cut generating fleet carbon dioxide emissions 55 percent by 2030 and reduce methane emissions from its gas assets 50 percent by 2030. Please visit DominionEnergy.com to learn more.


(PRNewsfoto/Dominion Energy)
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