PPL Corp. releases climate assessment report
PPL Corp. released its updated Climate Assessment Report, which examines the risks and opportunities associated with climate change, among other factors.
Specifically, the report evaluates potential future emissions and generation mix using scenario analysis and outlines the company’s strategy and goals to enable a responsible transition to a cleaner energy future.
The company has set the goal of achieving net-zero carbon emissions by 2050, with interim reduction targets of 80 percent by 2040 and 70 percent by 2035. Through this analysis, PPL projects that it is on a path to achieving its interim targets.
This is PPLʻs first climate assessment report since 2017. Since then, the company has taken several steps to advance its emissions reductions and overall clean energy transition strategy. This has included retiring aging fossil plants and advancing the planned retirements of others. PPL has also developed a clean energy strategy to decarbonize its owned generation and operations, develop smart grid technology and renewable energy solutions to customers, and invest in clean energy technologies.
“The transition to a clean energy future offers us an opportunity to rethink how energy is produced, stored, delivered, and used. In the process, it offers opportunities for us to further reduce our environmental impact, invest in new infrastructure, empower customers with new options, and drive innovation that benefits society,” Vincent Sorgi, PPL president and CEO, said. “Our 2021 Climate Assessment Report highlights the risks and opportunities associated with climate change and outlines our strategy to enable a responsible transition that balances our commitments to the environment, our customers, our employees, and our communities.”
In the assessment, PPL examined several climate scenarios, including mitigation pathways consistent with limiting global temperatures to an increase of 1.5° Celsius over pre-industrial levels and aligned with the Paris Agreement. It also outlines the technological advancements, partnerships, and investments that are necessary to reach net-zero emissions by 2050.
The report also looks at the physical risks to operations associated with climate change and how PPL is mitigating those risks. To that end, the company is focused on strengthening grid resilience to reduce damage and speed recovery from severe weather impacts that could result from climate change.
PPL Corp., based in Allentown, Pa., provides electricity and natural gas to more than 2.5 million customers in the United States.
