American Electric Power has released its 2018 environmental, social, governance and sustainability report.
Brian X. Tierney, AEP executive vice president, said: “As the demand for ESG disclosure continues to grow among investors, so does the need to provide accurate and consistent data that is relevant for AEP and our industry.”
The report highlights the utility’s grid modernisation, capital expenditures, carbon emission reduction and clean energy strategy.
Measures highlighted in the report will ensure the energy provider delivers cost-effective and reliable energy services to nearly 5.4 million regulated customers in 11 states.
The release follows AEP reducing its carbon emissions by 57% from 2000 levels. The utility has plans to reduce emissions from energy generation by 80% by 2050.
The report comprises sustainability plans including investing in:
Renewable generation and advanced technologies, transmission and distribution systems to enhance efficiency, natural gas generation and in expanding demand response and energy efficiency programmes.
The plans were developed using knowledge acquired by the utility during workshops on sustainability reporting, hosted by the Edison Electric Institute over the past two years.
The report is available at http://aep.com/investors/docs/AEP2018EEIESG-SustainabilityReport.pdf.