Dominion Energy supports Task Force on Climate-related Financial Disclosures
Dominion Energy announced that it is supporting the Task Force on Climate-related Financial Disclosures (TCFD), which provides guidance to organizations on providing information to investors, lenders, insurers, and others on matters related to climate change.
“Greater transparency regarding climate-related risks and opportunities is a competitive advantage,” Robert Blue, Dominion president and CEO, said. “It enables shareholders, customers, and other stakeholders to see alignment among our strategy of building a clean and sustainable energy future, our goal of achieving net zero emissions by 2050, and the opportunities arising from a shift to a low-carbon world. These disclosures also demonstrate our efforts to provide investors with consistency when evaluating and quantifying the impact of climate change on our business.”
The Richmond, Va.-based company recently released its Sustainability and Corporate Responsibility Report, which is a review of Dominion’s 2019 activities related to safety, environmental stewardship, customer support, employee welfare, diversity, and more. It maps sustainability disclosures to standards published by the Global Reporting Initiative, the Sustainability Accounting Standards Board, and the United Nations Sustainable Development Goals.
Dominion Energy expects to release a new climate report in 2021 that will detail its roadmap to net zero carbon and methane emissions by 2050. The report will also explore the risks and opportunities associated with climate change and follow the disclosure recommendations of the TCFD.
Dominion Energy said its support for the TCFD is in line with its commitment to transparency. For three years straight, Dominion has been awarded by the Center for Political Accountability and the Zicklin Center for Business Ethics and Research at the University of Pennsylvania for political disclosure and accountability.
The TCFD, chaired by Michael Bloomberg, is made up of more than 1,500 organizations around the globe.
