MGE Energy Expands Sustainability Reporting
October 15 2018 - 11:18AM
Business Wire
Madison-based utility participates in new industry tool to
enhance transparency and disclosure
Madison Gas and Electric (MGE), a regulated utility subsidiary
of MGE Energy, Inc., is participating in the Edison Electric
Institute's (EEI) environmental, social, governance (ESG) and
sustainability reporting template. MGE's release of its template
coincides with the publication of its 2018 Environmental and
Sustainability Report.
"MGE has aggressive and internationally recognized carbon
reduction goals. We are committed to reducing carbon at least 80%
by 2050. If we can go further faster by working with our customers,
we will," Chairman, President and CEO Jeff Keebler said. "This
reporting template is an opportunity to further engage our
investors and other stakeholders with timely, relevant and easily
accessible information that meets their needs as we work toward our
short- and longer-term clean energy goals."
EEI, which represents all U.S. investor-owned electric
companies, developed the voluntary, industry-specific template to
offer investors and other stakeholders more uniform and consistent
reporting of data and information from the electric sector. It
includes data related to MGE's portfolio (generation and capacity),
emissions, capital expenditures, and human and natural resources.
MGE's template is available at mgeenergy.com/environment.
2018 Environmental and Sustainability Report
MGE's annual Environmental and Sustainability Report offers
meaningful information about corporate strategy and governance,
operations, community engagement and annual giving, workforce and
safety.
MGE is on a trajectory to reduce carbon emissions at least 40%
by 2030, which is consistent with U.S. emissions targets for
the 2030 timeframe established under the Paris Agreement on climate
change. Beyond 2030, the company is committed to reducing carbon
emissions at least 80% by 2050. This benchmark is consistent with
the U.S. Mid-Century Strategy (MCS) for Deep Decarbonization. The
MCS is the strategy identified by the U.S. for limiting global
warming to 2 degrees Celsius (the 2-degree scenario).
As detailed in its report, MGE is pursuing three key strategies
to achieve deep decarbonization:
- Reducing carbon intensity in electric
generation.
- Engaging customers in energy
efficiency.
- Electrifying the transportation
sector.
MGE's report captures some of the company's most recent
investments in renewable energy, including its 66-megawatt wind
farm under construction near Saratoga, Iowa, as well as proposals
for three large-scale solar projects and a proposed expansion of
its successful Shared Solar program for subscribing customers.
In addition to growing cost-effective renewable energy, MGE is
seizing opportunities to take advantage of new, evolving
technologies, such as electric vehicles and smart technologies, for
the benefit of its shareholders, customers and communities. A
nationwide leader in electric reliability, MGE is committed to
providing safe, reliable, affordable and sustainable energy for the
communities it serves.
Visit mgeenergy.com/environment to learn more about the
company's initiatives for a sustainable future.
About MGE Energy
MGE Energy is a public utility holding company. Its principal
subsidiary, MGE, generates and distributes electricity to 151,000
customers in Dane County, Wis., and purchases and distributes
natural gas to 158,000 customers in seven south-central and western
Wisconsin counties.
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MGE EnergySteven SchultzCorporate Communications
Manager608-252-7219sbschultz@mge.com
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