COLUMBUS, Ohio, Dec. 4, 2017 /PRNewswire/ -- American Electric
Power (NYSE: AEP) is participating in a voluntary industry
initiative to help provide electric industry investors with more
uniform and consistent environmental, social, governance, and
sustainability-related (ESG/sustainability) metrics. The company is
incorporating the Edison Electric Institute's (EEI's) pilot
ESG/sustainability reporting template into its long-term program of
corporate accountability reporting.
"AEP has produced an integrated Corporate Accountability Report
for the last eight years to provide a comprehensive view of our
performance on key financial, environmental, social, governance and
sustainability issues that are important to our shareholders,
customers and other stakeholders," said Nicholas K. Akins, AEP chairman, president and
chief executive officer. "We are pleased to see the industry focus
on becoming a model for ESG/sustainability reporting and developing
uniform industry reporting criteria. Our participation in this
program will supplement our already robust reporting on these
issues."
AEP was a member of the steering committee that helped lead the
EEI ESG/sustainability reporting effort. A working group comprised
of institutional investors who specialize in asset management,
ESG/sustainability, investment banking, and buy-side and sell-side
research as well as electric company officials from various
disciplines, including accounting, environment, ESG/sustainability,
finance, treasury, investor relations and legal developed the pilot
metrics.
Over the past 18 months, AEP and other members of the working
group helped EEI develop the template for the qualitative
information, including ESG/sustainability governance and strategy,
and quantitative information, including portfolio data, emissions,
and human and natural resources, that investors are seeking. The
template also helps to provide investors with more clarity on risks
from stranded assets and regulatory issues, as well as
opportunities for investments in clean energy.
AEP's 2016 report using the pilot template is available at
http://www.aep.com/newsroom/resources/docs/AEPEEIESGSustainabilityPilot-PublicDoc12-4-17.pdf.
The program is expected to expand to additional electric industry
participants in 2018.
American Electric Power, based in Columbus, Ohio, is focused on building a
smarter energy infrastructure and delivering new technologies and
custom energy solutions to our customers. AEP's more than 17,000
employees operate and maintain the nation's largest electricity
transmission system and more than 224,000 miles of distribution
lines to efficiently deliver safe, reliable power to nearly 5.4
million regulated customers in 11 states. AEP also is one of the
nation's largest electricity producers with approximately 33,000
megawatts of diverse generating capacity, including 4,200 megawatts
of renewable energy. AEP's family of companies includes utilities
AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West
Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky
Power, Public Service Company of Oklahoma, and Southwestern Electric Power
Company (in Arkansas, Louisiana and east Texas). AEP also owns AEP Energy, AEP Energy
Partners, AEP OnSite Partners and AEP Renewables, which provide
innovative competitive energy solutions nationwide.
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SOURCE American Electric Power