COLUMBUS, Ohio, May 19, 2022
/PRNewswire/ -- American Electric Power (Nasdaq: AEP) has issued
its 2022 Corporate Sustainability Report, an annual assessment of
its performance as a public company and a community partner. This
report marks AEP's 16th year of environmental, social and
governance (ESG) disclosure, demonstrating its commitment to
reporting the company's progress toward a sustainable energy
future. The report's theme, "The Future is Electric", reflects
AEP's important role in decarbonizing and electrifying the nation's
economy in a just and equitable way.
AEP continues to reduce its carbon footprint by investing
in renewable energy, developing and deploying new technologies and
building a more modern, resilient energy grid. In 2021, 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 also plans to add approximately 16 gigawatts of
regulated renewables to its generation portfolio by 2030.
"As the economy embraces electrification to decarbonize the
climate, our responsibility is to deliver clean, reliable and
affordable electricity that is secure and resilient. At AEP, we add
to that an obligation that the grid of the future provides
equitable access for all its users. Our commitment to reach
net-zero carbon emissions by 2050 is unwavering. We've already made
significant progress and also committed to a just transition for
our employees and our communities with a focus on inclusiveness,
equity and collaboration," said Nicholas K.
Akins, AEP's chairman, president and chief executive
officer, in the report's introduction.
The company is focused on proactive stakeholder engagement,
which includes examining how its business strategy impacts
customers and communities. In 2022, AEP adopted its new
environmental and social justice policy to strengthen its
commitment to considering the environmental and social effects of
the company's operations and policy decisions, especially in
low-wealth communities, communities of color and other historically
marginalized communities. AEP has a long history of stakeholder
engagement, and this policy reaffirms its commitment to meaningful
engagement with all customers and communities.
AEP also recently released its human rights policy, which
reinforces the company's efforts to ensure the dignity and fair
treatment of all people without discrimination. AEP commits to
integrate respect for human rights into its operations, business
practices and supply chain, recognizing it's essential for a
successful transition to a sustainable and clean energy future.
"For more than a century, our industry has kept the lights on
for every American. We are building on this legacy to create a new,
cleaner energy future that keeps electricity accessible,
affordable, reliable, and secure for everyone. As we do this, we
will continue to invest in innovation, develop our workforce,
protect the safety of our employees and the public, operate
efficiently and keep costs reasonable. We will continue to be a
force for good in our communities. This includes building upon our
outreach to marginalized and low-wealth communities who may be
impacted by our business. Above all, we will do this while
delivering on customer expectations around the clock, every day,"
said Akins.
The report also provides access through AEP's ESG Data Center to
the most requested metrics about the company's performance.
View the 2022 Corporate Sustainability Report and learn
more about AEP's sustainable development strategy.
American Electric Power, based in Columbus, Ohio, is powering a cleaner,
brighter energy future for its customers and communities. AEP's
approximately 16,700 employees operate and maintain the nation's
largest electricity transmission system and more than 224,000 miles
of distribution lines to safely deliver reliable and affordable
power to 5.5 million regulated customers in 11 states. AEP also is
one of the nation's largest electricity producers with
approximately 31,000 megawatts of diverse generating capacity,
including more than 7,100 megawatts of renewable energy. The
company's plans include growing its renewable generation portfolio
to approximately 50% of total capacity by 2030. AEP is on track to
reach an 80% reduction in carbon dioxide emissions from 2000 levels
by 2030 and has committed to achieving net zero by 2050. AEP is
recognized consistently for its focus on sustainability, community
engagement, and diversity, equity and inclusion. 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, which provides
innovative competitive energy solutions nationwide. For more
information, visit aep.com.
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SOURCE American Electric Power