Xcel Energy continues industry leadership with new climate related reporting
July 28 2020 - 10:00AM
Business Wire
Today Xcel Energy released a new report providing an even more
comprehensive view of its clean energy strategy and preparedness
for managing the risks associated with climate change and the
opportunities associated with clean energy. The report, which
responds to the recommendations of the international Task Force on
Climate-related Financial Disclosures, shows that the company’s
clean energy strategy is well-suited to adapt to the risks of
climate change and creates shareholder and customer value.
The Task Force’s framework asks organizations to report on four
categories related to climate change, including: governance,
strategy, risk management, and metrics and targets. It also
recommends that companies develop a climate scenario analysis
testing the resilience of their strategies. The company has signed
on as an official supporter of the Task Force, one of only five
U.S.- based electric companies to do so.
Xcel Energy’s evaluation details climate-related disclosures
important to investors and other stakeholders. The report shows the
value of the company’s strategy of deploying renewable and other
clean energy resources, building a more resilient energy grid and
meeting the evolving needs of customers, all while keeping service
reliable and bills low. It further reinforces Xcel Energy’s
commitment to its vision to deliver 100% carbon-free electricity to
customers by 2050 even as the COVID-19 pandemic forces businesses
in the United States and around the world to reevaluate their
strategies.
“Our clean energy leadership benefits our customers and
investors and this report helps demonstrate that our strategy is
designed to stand the test of time,” said Ben Fowke, chairman and
CEO of Xcel Energy.’’ We’re retiring aging coal plants while
investing in the nation’s largest multi-state wind expansion,
seeking to extend the life of carbon-free nuclear energy and
investing in our transmission and advanced grid capabilities as
part of our plans to reduce carbon emissions,” Fowke continued.
Xcel Energy has a long history of robust environmental, social
and governance reporting, but this framework is the first to focus
solely on a company’s strategy to manage the risks associated with
climate change and the opportunities associated with clean energy.
The company annually registers and discloses its greenhouse gas
emissions, including carbon, through The Climate Registry, a
nonprofit established in 2007. All of the company’s disclosures to
The Climate Registry are verified by a third party. Xcel Energy is
a founding member of The Climate Registry and has been awarded its
top “Allstar” status for the quality of its reporting. In 2020,
Xcel Energy was also honored with a Climate Leadership Award for
Organizational Leadership for its work in reducing carbon emissions
and supporting customers and communities in achieving their clean
energy goals.
Xcel Energy’s ESG reporting, including carbon emission
reporting, is available at
www.xcelenergy.com/CorporateResponsibility.
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.
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