PPL Corp. advanced its commitment to ESG in 2022
In its 2022 Sustainability Report, PPL Corp. gave an overview of its approach to a clean energy transition while outlining the company’s performance on the environment, social responsibility, and governance (ESG).
“PPL is focused on excelling in safety, customer satisfaction, reliability, cost efficiency, and shareholder value, all while moving energy forward through innovation and a clear and achievable clean energy strategy,” Vince Sorgi, president and CEO of PPL Corp., said.
Among the ESG highlights, the firm executed its clean energy strategy toward achieving net-zero carbon emissions by 2050. For example, in Kentucky, the company is looking to replace its aging generation and diversify its generation fleet while in Rhode Island, it will invest $290 million to improve the state’s electric and gas networks.
Further, the company is engaged in more than 140 active research projects, with more than $20 million in federal funding, focused on new energy technologies. Specifically, the technologies would enable decarbonization: advanced dispatchable renewables; long-duration energy storage; hydrogen; advanced nuclear; and carbon capture, utilization, and storage.
Also, PPL is engaging with stakeholders to ensure it is focused on access, affordability, and community support. In addition, PPL’s operating companies and foundations contributed more than $13 million in 2022 to support local charitable organizations to help strengthen local communities.
Additionally, the company advanced its commitment to diversity, equity, and inclusion, increasing the number of ethnically and racially diverse employees in leadership positions to 16 percent while increasing the number of women in leadership positions to 35 percent. Further, PPL’s board is committed to diversity, with 40 percent women and 30 percent racially and ethnically diverse directors.
PPL, based in Allentown, Pa., provides electricity and natural gas to 3.5 million customers in various states.
