Investor-focused document is part of industry effort to improve sustainability reporting
ALLENTOWN, Pa., Aug. 30, 2019 /PRNewswire/ -- As part of PPL Corporation's ongoing commitment to transparent environmental, social and governance (ESG) reporting, the company today (8/30) published its investor-focused Edison Electric Institute (EEI) and American Gas Association (AGA) ESG report.
The reporting template, part of an ongoing initiative by EEI and its member companies, was developed in 2017 to help provide investors with more uniformity and better consistency for ESG metrics. PPL Corporation participated in the pilot initiative and was one of the first companies to publish disclosures in September 2017. In response to feedback from investors, PPL added new disclosures addressing governance and oversight of cybersecurity and natural gas operations.
"Investors and other stakeholders view ESG and sustainability issues as important indicators of a company's performance," said Christine Martin, vice president of public affairs and sustainability for PPL Corporation and co-chair of EEI's sustainability committee. "PPL's active participation in the development of the EEI-AGA ESG reporting template is a key part of the company's disclosures along with our annual sustainability report, CDP response and Climate Assessment Report. Together, these disclosures highlight our strategy to grow and innovate in a responsible, reliable way that benefits customers, shareowners, employees and society as a whole."
The most recent report, available here, includes data from 2018 about PPL's operations and incorporates feedback from company investors.
PPL's efforts in 2018 to advance a more sustainable energy future included:
- Establishing an enterprise-wide goal to cut carbon dioxide emissions 70% from 2010 levels by 2050. By the end of 2018, PPL had already achieved a 52% reduction from 2010 levels.
- Investing more than $3.3 billion in new infrastructure to benefit our customers. This included modernizing the grid, incorporating automation, replacing and building new power lines and substations, and enhancing security, both cyber and physical.
- Acquiring Safari Energy, a leading provider of solar energy solutions for businesses in the U.S. The company has over 340 solar projects completed or in development in 24 states.
- Connecting nearly 300 megawatts of solar, wind and energy storage resources to our networks.
- Continuously improving reliability performance, with our utility businesses reducing outages, on average, 26% from 2011 to 2018.
- Providing award-winning customer service, ranking among the very best for customer satisfaction in each of the regions we serve.
PPL also publishes an annual sustainability report that highlights the company's sustainability commitments and achievements in a number of areas such as innovation and technology, safety and reliability, workforce development, customer satisfaction and community support.
Headquartered in Allentown, Pennsylvania, PPL Corporation (PPL) is one of the largest companies in the U.S. utility sector. PPL's seven high-performing, award-winning utilities serve more than 10 million customers in the United States and United Kingdom. With more than 12,000 employees, PPL is dedicated to providing exceptional customer service and reliability and delivering superior value for shareowners. To learn more, visit www.pplweb.com.
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Contact: For news media: Lissette Santana, 610-774-5997, email@example.com