Commercial, Energy Efficiency, GHG Emissions, Sourcing Renewables - June 25, 2021
NRG Exceeds 50% Reduction Goal Five Years Ahead of Plan
NRG Energy announced on June 23 that it has reduced its carbon footprint by 55% from its 2014 baseline, exceeding its 50% reduction goal five years ahead of plan. The reduction in NRG’s emissions by 35.6 million metric tons of CO2 equivalent is comparable to avoiding almost 90 billion miles driven by an average passenger vehicle.
The company published the news in its eleventh annual sustainability report.
“I’m proud to introduce my first Sustainability Report with NRG—it is a great privilege to build on the company’s long track record of leadership in sustainability,” Jeanne-Mey Sun, vice president of sustainability at NRG Energy, said in a statement. “Our journey to net-zero will take collective action, innovation, and hard work, and we are proud of the significant accomplishments detailed in this year’s Sustainability Report.”
NRG’s CO2 equivalent emissions reductions contribute to its commitment to achieving a 50% reduction of absolute GHG emissions by 2025 from its 2014 baseline and reaching net-zero GHG emissions by 2050. To achieve these goals, the company has implemented a holistic, four-pronged decarbonization strategy comprised of decarbonizing existing business lines, diversifying into low emissions businesses, including renewables, retiring or divesting non-core higher-emissions assets, and capturing residual emissions.
Other notable environmental highlights include:
- The first power company in North America to have its climate goals validated by the Science Based Targets initiative as 1.5 degree Celsius-aligned.
- As of December 31, 2020, contracted more than 1.8 GW of new renewable energy through power purchase agreements with renewable project developers, continuing the advancement of the company’s “asset-light” approach to renewable energy.
- The first North American company in any sector to issue a sustainability-linked bond, tying carbon emissions reductions to beneficial financing.
- New 100% electrification goal by 2030 for NRG’s light-duty vehicle fleet.
- Lessons from the Front Line: Principles and Recommendations for Large-scale and Distributed Energy Interconnection Reforms
- NRG releases 12th annual sustainability report highlighting consistent actions that drive stakeholder value
- In Setting Corporate Climate Goals, Credibility is Key
- Better Buildings Progress Report 2022
- Extreme Weather & Power Supply Preparedness