-
Affordability and reliability remain the focus
CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today released its 17th annual report outlining its approach to sustainability topics. Our flagship impact report highlights progress against company goals, performance, and strategic business priorities, and allows stakeholders to chart the company’s progress.
Affordability and reliability are top priorities for both businesses and customers. Last year, Duke Energy made investments to reduce fuel costs and reduce price volatility to benefit customers. Additionally, a dedicated team worked with his more than 1,400 regional support agencies to distribute critical energy assistance funds. The company helped approximately 189,000 customers with more than $192 million in energy assistance last year and has helped connect customers with nearly $300 million in energy assistance since 2021.
And the company continues to work with stakeholders to introduce new programs and policies to generate savings and reduce the costs of the energy transition.
“Our business strategy is to create value for our employees, customers and communities while mitigating the potential risks associated with our operations,” said Duke Energy Chief Sustainability and Philanthropy Officer. says Catherine Neave. “We are pursuing federal funding and leveraging tax credits to reduce costs for our customers on clean energy technologies and other aspects of the energy transition. PACE enables a future of reliable, accessible and affordable energy for every customer and region we serve.”
EY assesses the economic benefits of Duke Energy’s $145 billion in planned investments in critical energy infrastructure over the next 10 years as Duke Energy continues to focus on customers, cost management and job creation. did. According to the study, the company’s plan will support more than 20,000 additional direct, indirect and induced jobs per year over that period, reducing jobs, income paid to workers and payments to suppliers. This would generate $250 billion in economic output for the entire U.S. economy. Additionally, it would generate more than $5 billion in additional property tax revenue over the next 10 years to support schools, first responders, roads, and other infrastructure and essential community services.
Additional report highlights and insights:
- Duke Energy continues to decarbonize to meet climate change goals. The company’s carbon emissions from power generation have fallen by 44% since 2005, and it is positioned to exceed its Scope 1 2030 target of a 50% reduction. In 2022, the company set a second interim goal of reducing emissions by 80% in 2040.
- The company expanded its net-zero target by 2050 to include some scope 2 and scope 3 emissions, becoming one of the first companies in the industry to link more than 95% of its emissions to net-zero commitments. I did.
- The company focuses on methane detection and emissions reduction, minimizing upstream emissions associated with the gas it purchases and downstream carbon emissions associated with customer consumption of the gas it sells. Our focus continues to be on decarbonizing our natural gas business.
- The company continues to prioritize reliable service to its customers and community by modernizing its grid. In 2022, smart self-healing technology averted more than 1.4 million customer outages and saved approximately 7.2 million total downtime hours.
- Duke Energy leverages Inflation Control Act (IRA) benefits and incorporates them into integrated resource planning and rate coordination across jurisdictions. IRAs are an important tool for reducing costs for customers.
- The company’s economic development team has helped attract 29,000 new jobs and $23 billion in capital investment to the regions it serves.
- Environmental justice is essential to engaging communities in the transition to clean energy, and the company is evolving this commitment by integrating its principles into the due diligence process for siting projects. More than 200 employees participated in training to conduct assessments to identify potential environmental justice communities and provide opportunities for increased engagement early in the project planning cycle.
- As the energy sector transitions, the company is committed to ensuring the long-term success of its employees and others in the industry. As part of this effort, the company has worked with stakeholders to develop a set of guidelines to inform its approach to a just transition. In 2022, the company worked with a third party to conduct an assessment of future and near-term coal retirement, looking at regional demographics, plant details, and adjacent job opportunities. This information will help inform the company’s strategy to phase out coal completely by 2035, pending regulatory approval.
- Human capital management highlights include efforts to increase diversity across the workforce and establishing ambitious new goals of 23% people of color and 28% women. Additionally, his EEO1 data for 2022 is included in the employee performance indicators.
- To provide stakeholders with a comprehensive view of the company’s disclosures, this year information from the trade association’s Climate Review, the Global Reporting Index, and the Sustainable Accounting Standards Board will be included in the impact report appendix. I am.
duke energy
Duke Energy (NYSE: DUK) is a Fortune 150 company headquartered in Charlotte, North Carolina and one of America’s largest energy holding companies. The company’s electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky and have a combined energy capacity of 50,000 megawatts. The company’s natural gas division serves his 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company has 27,600 employees.
Duke Energy is making an aggressive move toward clean energy to achieve its goals of net-zero methane emissions from natural gas operations by 2030 and net-zero carbon dioxide emissions from electricity generation by 2050. Performing a migration. The company has a preliminary carbon emissions target of at least 50%. We aim to reduce Scope 2 and certain Scope 3 upstream and downstream emissions by 50% by 2030, by 50% by 2035, and by 80% by 2040. In addition, the company is investing in and exploring extensive power grid enhancements and energy storage. Zero-emission power generation technologies such as hydrogen and advanced nuclear power.
Duke Energy has been named to Fortune’s 2023 “World’s Most Admired Companies” list and Forbes’ “World’s Best Employers” list. For more information, visit duke-energy.com. Duke Energy News Center includes news releases, fact sheets, photos, and videos. Duke Energy Illumination features stories about people, innovation, community topics, and environmental issues.Follow Duke Energy twitterLinkedIn, Instagram, Facebook.
Contact: Shauna Berger
24 hours: 800.559.3853
Twitter: @DE_ShawnaB
