D Dominion Energy Inc

   By Stephen Nakrosis 
 

Dominion Energy Inc. (D) on Thursday released its annual Sustainability and Corporate Responsibility report, presenting the company's performance in areas of interest to stakeholders.

Thomas F. Farrell, II, the company's chairman, president and chief executive, said, "We are transforming everything we do to build a more sustainable future for our customers, the planet and our company."

He also said an important priority for the company is addressing an executive order from Virginia's governor, Ralph Northram, which set goals for clean energy development in the state.

"That will be a major focus of next year's report," Mr. Farrell said.

The company's sustainability report said climate change is "one of the most challenging issues of our time" and outlines the company's efforts to increase the use of solar and wind power, pursue energy storage and cut emissions of carbon and methane, among other initiatives.

In its report, Dominion said it has "built the fourth-largest solar portfolio among utility holding companies" and is developing the U.S.'s largest offshore wind farm.

The company also said it "joined with Smithfield Foods in the largest renewable natural gas program in history."

In the report, Dominion said it was committed to reducing carbon emissions from its power stations 55% by 2030 and 80% by 2050. The company also will work to cut methane emissions in half by 2030.

Dominion also said it has increased its diverse hiring rate from 27% to 42% between 2013 and 2018, is increasing reimbursements for continuing education to $7,500 from $5,250, and that "one in five new hires is a veteran."

Dominion Energy supplies power to 7.5 million customers in 18 states.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 10, 2019 11:55 ET (15:55 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.