American Electric Power releases its annual corporate sustainability report
American Electric Power released its 2022 Corporate Sustainability Report this week, outlining its progress on environmental, social, and governance (ESG) issues and its commitment to a sustainable energy future.
The report’s theme, “The Future is Electric,” reflects AEP’s important role in decarbonizing and electrifying the nation’s economy in a just and equitable way.
In 2021, according to the report called “The Future is Electric,” AEP announced a commitment to achieve an 80 percent reduction in emissions by 2030 from its 2000 baseline. Further, it said it would reach net zero emissions by 2050. In addition, AEP also plans to add approximately 16 gigawatts of regulated renewables to its generation portfolio by 2030.
“As the economy embraces electrification to decarbonize the climate, our responsibility is to deliver clean, reliable, and affordable electricity that is secure and resilient. At AEP, we add to that an obligation that the grid of the future provides equitable access for all its users. Our commitment to reach net-zero carbon emissions by 2050 is unwavering. We’ve already made significant progress and also committed to a just transition for our employees and our communities with a focus on inclusiveness, equity, and collaboration,” Nicholas Akins, AEP’s chairman, president and CEO, said in the report’s introduction.
Also, this year, AEP adopted its new environmental and social justice policy to strengthen its commitment to considering the environmental and social effects of the company’s operations and policy decisions, especially in low-wealth communities, communities of color, and other historically marginalized communities.
Further, AEP recently released its human rights policy, which reinforces the company’s efforts to ensure the dignity and fair treatment of all people without discrimination. AEP commits to integrating respect for human rights into its operations, business practices, and supply chain.
“For more than a century, our industry has kept the lights on for every American. We are building on this legacy to create a new, cleaner energy future that keeps electricity accessible, affordable, reliable, and secure for everyone. As we do this, we will continue to invest in innovation, develop our workforce, protect the safety of our employees and the public, operate efficiently, and keep costs reasonable. We will continue to be a force for good in our communities. This includes building upon our outreach to marginalized and low-wealth communities who may be impacted by our business. Above all, we will do this while delivering on customer expectations around the clock, every day,” Akins said.
Based in Columbus, Ohio, American Electric Power delivers power to 5.5 million regulated customers in 11 states.
