COLUMBUS, Ohio, May 19, 2021 /PRNewswire/ -- American
Electric Power (Nasdaq: AEP) issued its 2021 Corporate
Accountability Report, an annual assessment of its performance as a
public company and a community partner. This report marks AEP's
15th year of sustainability and environmental, social and
governance (ESG) disclosure, demonstrating its commitment to
reporting the company's progress toward a sustainable energy
future.
The report's theme, "Building a Clean Energy Future Together",
highlights AEP's dedication to delivering clean, reliable and
affordable energy to its customers, while also empowering positive
change in the communities it serves.
In February, AEP announced a commitment to achieve an 80%
reduction in emissions by 2030 from its 2000 baseline and reach net
zero emissions by 2050. The company continues to reduce its carbon
footprint, investing in renewable energy and building a more
modern, resilient energy grid.
"Our vision for a clean energy future is accelerating with our
new Future Forward strategy. Under our proposed plan, which must be
approved by regulators, AEP would add nearly 16,600 MW of new,
clean wind and solar generation to our regulated fleet by 2030. We
will do it by building upon our long history of industry leadership
in power generation and 765-kV transmission innovation. In less
than a decade from now, our plan would shift 51% of our total
capacity to renewables. These investments will transform the
electric system while ensuring its reliability, affordability and
resilience," said Nicholas K. Akins,
AEP's chairman, president and chief executive officer, in the
report's introduction.
In 2020, AEP helped customers navigate financial uncertainty due
to the COVID-19 pandemic. The AEP Foundation also donated nearly
$4 million in COVID-related emergency
funds to support basic human needs and help address the hardships
faced by customers and communities. As part of the racial and
social justice movement, AEP accelerated efforts to address
diversity, equity and inclusion, both within its workforce and in
the communities it serves. In 2021, the AEP Foundation launched a
five-year, $5 million grant program
to help fund organizations focused on advancing equity and racial
justice.
"The pandemic confirmed the life-saving power of a resilient,
reliable and affordable electric system for all. More than ever, we
are committed to delivering a sustainable energy future that is
inclusive, reliable and clean. We are amplifying our advocacy for
social justice in our communities and supporting change and equity
through visible actions. No matter the challenge, our plan puts
people first. Together, we will achieve environmental
sustainability, and work to actualize economic empowerment and
social justice. Together, we will also transition to a clean energy
future," said Akins.
The report also provides access through AEP's ESG Data Center to
more than 250 of the most commonly requested metrics about the
company's performance.
View the 2021 Corporate Accountability Report and learn
more about AEP's sustainable development strategy.
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 approximately
16,800 employees operate and maintain the nation's largest
electricity transmission system and more than 223,000 miles of
distribution lines to efficiently deliver safe, reliable power to
nearly 5.5 million regulated customers in 11 states. AEP also is
one of the nation's largest electricity producers with
approximately 30,000 megawatts of diverse generating capacity,
including more than 5,500 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, east Texas and the Texas
Panhandle). AEP also owns AEP Energy, AEP Energy Partners,
AEP OnSite Partners, and AEP Renewables, which provide innovative
competitive energy solutions nationwide. For more information,
visit aep.com.
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SOURCE American Electric Power