Duke Energy launches Sustainable Financing Framework to fund transition to clean energy
Duke Energy announced Tuesday that it is launching a new framework that will help attract investments into eligible green and social projects to drive the company’s clean energy transition.
The Sustainable Financing Framework will focus on investments in renewable energy, energy efficiency, advanced grid technology, and expanded opportunities for diverse suppliers and small businesses, which align with the company’s clean energy strategy, enabling it to issue green and sustainability bonds, loans, and other financing instruments.
“We’re committed to a clean energy future for our customers and communities,” said Lynn Good, Duke Energy’s chair, president and chief executive officer. “Our long-term investment strategy is part of the solution and will provide sustainable environmental, social, and customer benefits as we work to achieve our net-zero goals.”
Since 2018, the company has issued $2.3 billion in green bonds. The Sustainable Financing Framework would strengthen the company’s commitment to sustainable financing and would broaden the scope of eligible investments.
S&P Global supported the company’s position.
Duke Energy’s climate strategy is intertwined with its corporate strategy that focuses on environmental leadership and social responsibility to support a clean energy transformation. Specifically, the company’s sustainability strategy supports its vision to transition to clean energy while delivering safe, affordable, and reliable services to customers,” S&P Global said on its website.
The company has set enterprise-wide emission reduction goals. The company hopes to reduce its carbon emissions from electricity generation by at least 50 percent, achieve net-zero methane emissions from its natural gas distribution businesses by 2030, and achieve net-zero emissions for electricity generation by 2050. The goas are some of the most ambitious in the industry.
