PORTLAND, Ore., Nov. 18, 2020 /PRNewswire/ -- Recognizing
the urgent need to address climate change, Portland General
Electric (NYSE: POR) today announced a new companywide goal of
achieving net zero greenhouse gas emissions by 2040. PGE also
announced a new goal to meet customer expectations for clean
energy, pledging to reduce greenhouse gas emissions associated with
the power served to customers by 80% by 20301, and
setting an aspirational goal for zero greenhouse gas emissions
associated with the power served to customers by 2040.
"Our future depends on taking immediate action to address
climate change by reducing greenhouse gas emissions," said
Maria Pope, President and CEO of
Portland General Electric. "Today, we placed a new milestone:
aiming to achieve companywide net zero greenhouse gas emissions by
2040. To meet this goal, we will touch every part of our business:
from the power we supply to our customers, to the vehicles we
drive, to how we operate our buildings. Along the way, we will
continue to keep electricity reliable and affordable. We're
confident that, working with our customers and communities, we will
reduce emissions and continue building Oregon's clean energy future."
To reach the goal of companywide net zero greenhouse gas
emissions by 2040, PGE will focus on three areas:
- Reducing emissions associated with the power serving
customers: Oregonians want to use clean energy, which is why
PGE is setting a new, accelerated goal to reduce greenhouse gas
emissions associated with the power supplied to customers by at
least 80% by 2030 (from 2010 levels). Ending operations at coal
plants, like the one PGE recently closed in Boardman, Oregon, and adding more renewable
generating facilities through wind and solar, as well as battery
storage, like the new Wheatridge facility, will help reach that
goal. PGE is also setting an aspirational goal of zero greenhouse
emissions associated with the electricity served to customers by
2040. Reaching that goal will require policy, regulatory and
technology advancements to fully eliminate emissions from the power
supply.
- Reducing emissions in operations: The companywide net
zero greenhouse gas goal means finding ways to reduce emissions in
every part of the business. With transportation accounting for 40%
of Oregon's greenhouse gas
emissions, one way to make progress is through electrifying
more than 60% of PGE's fleet by 2030, including 100% of Class
1 vehicles like sedans, SUVs, and small pickups, as well as
forklifts, by 2025.
- Reducing emissions through evolving customers' energy
choices: PGE customers are already #1 in choosing PGE's current
renewable energy programs, but many customers want to move further,
faster. PGE will continue to create new, innovative programs, like
our Green Future products that offer a variety of choices to
customers looking for clean, green energy options to power their
homes and businesses.
Follow PGE's work towards these goals at
portlandgeneral.com/climate. For more information on PGE's
Environmental, Social and Governance commitments and reporting,
please visit investors.portlandgeneral.com/esg.
About Portland General Electric Company: Portland
General Electric (NYSE: POR) is a fully integrated energy company
based in Portland, Oregon, with
operations across the state. The company serves approximately
900,000 customers with a service area population of 2 million
Oregonians in 51 cities. PGE has 16 generation plants in five
Oregon counties, and maintains and
operates 14 public parks and recreation areas. For over 130 years,
PGE has delivered safe, affordable and reliable energy to
Oregonians. Together with its customers, PGE has the No. 1
voluntary renewable energy program in the U.S. PGE and its 3,000
employees are working with customers to build a clean energy
future. In 2019, PGE, employees, retirees and the PGE Foundation
donated $4.3 million and volunteered
32,900 hours with more than 700 nonprofits across Oregon. For more information visit
www.PortlandGeneral.com/news.
Safe Harbor Statement
Statements in this press release that relate to future plans,
objectives, expectations, performance, events and the like may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements include statements regarding future reductions in
greenhouse gas emissions and impacts on customer prices, as well as
other statements containing words such as "anticipates,"
"believes," "intends," "estimates," "promises," "expects,"
"should," "conditioned upon," and similar expressions. Investors
are cautioned that any such forward-looking statements are subject
to risks and uncertainties, including, without limitation
technological advancements, policy and regulatory changes, and
general economic and financial market conditions. As a result,
actual results may differ materially from those projected in the
forward-looking statements. All forward-looking statements included
in this press release are based on information available to the
Company on the date hereof and such statements speak only as of the
date hereof. The Company expressly disclaims any current intention
to update publicly any forward-looking statement after the
distribution of this release, whether as a result of new
information, future events, changes in assumptions or otherwise.
Prospective investors should also review the risks, assumptions and
uncertainties listed in the Company's most recent annual report on
Form 10-K and in other documents that the Company files with
the United States Securities and Exchange Commission,
including management's discussion and analysis of financial
condition and results of operations and the risks described therein
from time to time.
POR
Source: Portland General Company
1 80% below 2010 levels.
Contact:
Elizabeth
Lattanner, Elizabeth.lattanner@pgn.com, 503-464-7016
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SOURCE Portland General Company