MINNEAPOLIS--(BUSINESS WIRE)-- Xcel Energy is on track to achieve one of the most ambitious carbon reductions goals in the industry, and the company has documented its progress in a new reporting tool that provides more uniform sustainability metrics for the industry.
To better meet the needs of the financial sector, Xcel Energy worked with the Edison Electric Institute and other stakeholders on an initiative that expands the release of the company’s annual environmental, social, governance (ESG) and sustainability-related information. The new report, which is consistent across the industry, demonstrates the company’s clean energy progress.
“We’re a clean energy leader that has reduced carbon emissions 35 percent since 2005, and we’re on track to achieve 60 percent reduction or more by 2030,” said Ben Fowke, chairman, president and CEO, Xcel Energy. “Measuring and reporting progress is essential to reaching our clean energy goals. Supporting this initiative to provide more consistent reporting across the industry demonstrates our commitment to transparency in meeting the information needs of our stakeholders.”
“The electric power industry is leading the way to a clean energy future, having reduced carbon dioxide emissions nearly 27 percent below 2005 levels as of the end of 2017,” said EEI President Tom Kuhn. “The template will enable our industry to take its reporting to another level and present its ESG and sustainability-related efforts in a more consistent manner that is favored by investors.”
Over the past two years, Xcel Energy and EEI-led stakeholder working groups developed the EEI ESG/sustainability template. It provides information in a measurable and consistent format for investors and customers to accurately assess the long-term ESG/sustainability progression toward a clean energy future.
More information about the project is available on EEI’s website.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
Xcel Energy Media Relations
Source: Xcel Energy