PPL Corp. highlights emissions-reductions effort in ESG disclosures

PPL Corp. published reports this week that outline the company’s performance related to sustainability, as well as how it is progressing toward its environmental, social and governance (ESG) goals.

“As we pursue our goals, we’re investing in the research and development of clean energy solutions that will enable us to achieve net-zero carbon emissions, and we’re committed to ensuring a balanced, responsible and just transition to economy-wide decarbonization,” Vincent Sorgi, president and CEO of PPL Corp., said.

One report released by the company utilized the Edison Electric Institute (EEI) and American Gas Association (AGA) ESG reporting template, and the other provided a response to the CDP Climate Survey. The EEI/AGA report gives investors access to key metrics related to the company’s ESG performance, while the CDP Climate Survey provides an overview of the company’s energy transition and climate strategy. Further, it incorporates the recommendations of the Task Force on Climate-Related Financial Disclosures.

Allentown, Pa.-based PPL, which provides electricity and natural gas to more than 2.5 million customers in the United States, said it has made substantial progress toward its goal of achieving net-zero carbon emissions by 2050. Currently, it is on track to achieve a 70 percent reduction from 2010 levels in carbon dioxide and other greenhouse gases by 2035 and an 80 percent reduction by 2040.

PPL’s strategy includes reducing emissions from its regulated generation fleet and other aspects of its business, investing in transmission and distribution networks to support greater electrification and economy-wide decarbonization, and advancing research and development of clean energy solutions needed to achieve net-zero emissions.

To reach those goals, PPL has invested $20 billion in the company’s Pennsylvania and Kentucky operations over the last decade. The bulk of those investments has focused on creating a more resilient and dynamic distribution and transmission network. In addition, PPL continues to expand smart grid initiatives, deploying technology that will support greater electrification, the development and deployment of new renewables, and connecting more distributed energy resources.

For example, PPL Electric Utilities is piloting a new technology called Dynamic Line Rating that uses real-time data analytics to increase the capacity and efficiency of transmission line usage. This provides a cost-effective approach to delivering increased clean energy resources to customers, the company said. In addition, PPL is an anchor sponsor of the Low-Carbon Resources Initiative, which is focused on accelerating the development of low- and zero-carbon energy technologies. Further, PPL recently joined the Energy Impact Partners’ global investment platform to foster innovation and accelerate the clean energy transition. It has committed $50 million to the effort.

“Our transparent reporting on ESG initiatives provides a clear view of the company’s performance on issues important to a wide variety of stakeholders and offers insight on PPL’s strategy to grow responsibly while delivering energy safely, reliably and affordably,” said Christine Martin, vice president of public affairs and sustainability for PPL Corp. and co-chair of EEI’s Sustainability Committee.

In addition to the EEI-AGA report and CDP Climate Survey, PPL also publishes an annual sustainability report that highlights the company’s commitments and achievements in several areas, including innovation and technology, safety and reliability, workforce development, customer satisfaction and community support. That report will be released later this year.