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Includes HEI's first disclosures aligned with Task Force on Climate-related Financial Disclosures (TCFD) recommendations
HONOLULU, April 22, 2021 /PRNewswire/ -- Hawaiian Electric Industries, Inc. (HEI) (NYSE: HE) today released an updated consolidated report describing its policies, actions and performance with respect to a number of environmental, social and governance (ESG) matters, including climate-related risks and opportunities.
HEI's 2021 ESG report includes the company's first Task Force on Climate-related Financial Disclosures (TCFD)-aligned reporting. It also includes the results of HEI's first consolidated ESG priorities assessment. As with HEI's inaugural ESG report last year, the 2021 report presents data aligned with Sustainability Accounting Standards Board (SASB) guidelines for HEI's utility and bank subsidiaries.
"With all of our operations in the middle of the Pacific Ocean, we know that our company's long-term health is inextricably linked with the strength of the economy, communities, and environment of the Hawaiian Islands. That's why ESG and sustainability considerations are at the core of our mission to be a catalyst for a better Hawai'i," said Connie Lau, HEI president and CEO.
"Since issuing our inaugural ESG report last fall, we have continued our cross-enterprise work to further integrate ESG and climate-related factors into our governance, strategies, risk management and reporting. This second consolidated ESG report provides an update on our ESG efforts and reflects our commitment to continuous improvement, transparency and accountability surrounding these very important issues," said Lau.
HEI's top ESG priorities identified in the report include decarbonization; economic health and affordability; reliability and resilience; secure digitalization; diversity, equity and inclusion; employee engagement; and climate-related risks and opportunities. These priorities reflect the essential connection between the health of Hawai'i's environment, economy and communities and HEI's success as a company. Future reports will continue to track the company's progress as it works to address these interests.
Among the highlights:
American Savings Bank
To review the HEI 2021 ESG report, visit www.hei.com/esgonline2021.
HEI supplies power to approximately 95% of Hawai'i's population through its electric utility, Hawaiian Electric; provides a wide array of banking and other financial services to consumers and businesses through American Savings Bank, one of Hawai'i's largest financial institutions; and helps advance Hawai'i's clean energy and sustainability goals through investments by its non-regulated subsidiary, Pacific Current.
VP, Investor Relations & Corporate Sustainability
VP, Corporate & Community Advancement
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SOURCE Hawaiian Electric Industries, Inc.