Energy Efficiency, GHG Emissions  -  February 10, 2022

Duke Energy Expands Net Zero Goals

Duke Energy is taking a series of steps toward action on climate change including an expansion of its net 2050 zero goals.

The company’s net zero goals will now include Scope 2 and certain Scope 3 emissions. In the electric business, the company’s goal will include GHG emissions from the power it purchases for resale, from the procurement of fossil fuels used for generation and from the electricity purchased for its own use. In the natural gas business, the company will add a new net zero by 2050 goal that includes upstream methane and carbon emissions related to purchased gas and downstream carbon emissions from customers’ consumption.

Duke Energy also plans to target energy generated from coal to represent less than 5% of total generation by 2030 and to fully exit coal by 2035.

The company has already reduced Scope 1 carbon emissions from electricity generation by 44% from 2005 levels and is on pace to achieve its goals of at least 50% reduction by 2030 and net zero by 2050 from electricity generation and net zero methane emissions by 2030. Duke Energy has retired 56 coal units, representing approximately 7,500 MW since 2010, filed integrated resource plans with preferred scenarios that support exiting coal generation by 2035 and partnered with Accenture and Microsoft on a satellite leak detection platform designed to measure actual baseline methane emissions from natural gas distribution systems.

“As one of America’s largest electric and gas utilities, we and many of our stakeholders share the view that we can take a leadership role in tackling the greenhouse gas emissions associated with our business and value chain,” said Duke Energy Chief Sustainability Officer Katherine Neebe in a statement. “Policy changes and technological innovation are expected to play a key role in meeting these enhanced goals.”

The company will work to determine the emissions associated with the prioritized Scope 3 categories in 2022 and the second step will be to identify what actions the company can take over time to reduce these emissions.

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