PPL Corp. highlights ESG progress in 2021 sustainability report
PPL Corp. highlighted its progress on a wide range of environmental, social, and governance (ESG) initiatives in its annual sustainability report
Specifically, the report provides updates on its clean energy goals; diversity, equity, and inclusion strategy; human rights commitment; and ESG governance.
“The past year was transformational for PPL Corporation as we took significant steps to strategically reposition our company for the future while making progress on our environmental, social, and governance strategy and performance,” Vincent Sorgi, president and CEO of PPL Corp., said. “This report tracks our progress as we pursue a long-term strategy that seeks to create value for all stakeholders. PPL has set goals and commitments to address climate change; make the grid more reliable and resilient; boost diversity, equity, and inclusion; and make a long-term, positive impact in the communities we serve.”
Among PPL’s ESG accomplishments in 2021, the company set a new goal to achieve net-zero carbon emissions by 2050, with interim reduction targets of 70 percent by 2035 and 80 percent by 2040. The company is also committed to not burning unabated coal by 2050.
It is also committed to advancing research in several key technology areas, which it will help do by joining Energy Impact Partners’ global investment platform. PPL also serves as an anchor sponsor of the Low Carbon Resources Initiative and launched a partnership with the University of Kentucky’s Center for Applied Research to study the capture of carbon dioxide emissions at natural gas combined cycle power plants.
Further, the company increased its ethnic and racial diversity in senior leadership by 5 percent and women in senior leadership by 14 percent last year. PPL also created a chief diversity officer position to lead these efforts across the company. In addition, the firm published a Human Rights Policy Statement to affirm its commitment to promote, protect and support internationally recognized human rights principles.
Regarding governance, PPL added corporate political contributions to the oversight function of the board’s Governance, Nominating and Sustainability Committee (GNSC). PPL’s transparent disclosure has earned a trendsetter ranking by the CPA-Zicklin Index, which benchmarks the political disclosure and accountability policies and practices of leading U.S. public companies.
Based in Allentown, Pa., PPL provides electricity and natural gas to 2.5 million customers in the United States.
