WEC Energy Group releases corporate social responsibility, climate reports

WEC Energy Group released its annual Corporate Responsibility Report as well as its Climate Report.

The 2021 Corporate Responsibility Report details the company’s environmental, social and governance (ESG) performance, while the Climate Report examines the company’s governance, strategy, and risk management related to climate change.

“As we look to the future of WEC Energy Group, we see sustainability as a key pillar for our success,” Gale Klappa, executive chairman at WEC Energy, said. “For more than a century, we have served the Midwest with a strong commitment to our stakeholders. Our focus on sustainable growth and corporate citizenship is at the heart of how we conduct business.”

The Milwaukee-based energy company is targeting a 60 percent reduction in carbon emissions from electric generation by the end of 2025 and an 80 percent reduction by the end of 2030, both from 2005 levels. WEC is also planning for a carbon-neutral electric generation fleet by 2050 and net-zero methane emissions across its natural gas distribution operations by the end of 2030.

These two reports detail some of the investments WEC has made in sustainable technology, including zero-carbon energy and renewable natural gas, to meet those carbon and methane reduction goals. Specifically, it highlights the company’s $17.7 billion ESG Progress Plan, a five-year capital plan that has allocated $5.4 billion for renewables and $8.4 billion for grid and fleet modernization and reliability.

Further, the reports underscore WECʻs commitment to ensuring a diverse and inclusive workplace. In 2021, the company made progress in advancing women and racial minorities in leadership positions and achieving its diversity, equity, and inclusion goals. In addition, it spent $270.3 million with diverse suppliers.

Among other highlights, the company was named one of America’s most responsible companies by Newsweek magazine. Also, We Energies, its largest utility, received an Edison Electric Institute Emergency Response Award for restoring power to more than 210,000 customers after severe storms hit Wisconsin in August 2021.

In addition, WEC announced a plan to exit from coal for power generation by the end of 2035, with minimal use by the end of 2030, and advanced plans to electrify the company’s own motor vehicle fleet. It also increased customer access to electric vehicle charging. Finally, it provided $20 million worth of grants and donations to nonprofit organizations.

WEC Energy Group serves about 4.6 million customers in Wisconsin, Illinois, Michigan, and Minnesota.