Madison Gas and Electric annual ESG report highlights path to reducing carbon emissions by 80 percent by 2030
In its annual Corporate Responsibility and Sustainability Report, released this week by Madison Gas and Electric (MGE), the company laid out its environmental, social and governance (ESG) efforts, including inroads made to major carbon emissions reductions.
Overall, MGE’s goal is to achieve net zero carbon electricity by 2050, but with an important milestone of reducing carbon emissions at least 80 percent by 2030. By the end of 2022, it had already reportedly reduced those emissions by 39 percent compared to 2005 levels. As an add-on to this, the company also intends to transition away from coal-fired generation, and will eliminate its use entirely by the end of 2032. Additionally, the company plans to zero out its methane emissions from natural gas by 2035. All of this should culminate in a $1 billion investment into clean energy by 2028, including work that has been ongoing since 2015.
Among other things, MGE’s report also tagged the company’s commitment to a proposed, collaborative effort at the country’s first long-duration energy storage system, a 20 MW project given federal funding earlier this year.
“As we continue working toward net-zero carbon electricity by 2050, we expect every MGE electric customer will have 80% fewer carbon emissions from their electricity use by 2030, simply by being an MGE customer,” Jeff Keebler, MGE chairman, president and CEO, said. “We’re investing in innovative technologies and cost-effective cleaner energy. In less than a decade, we expect to have eliminated coal as an energy source. We are working with our customers to create a more sustainable future while ensuring continued top-ranked electric reliability and affordability for our communities.”
On top of these changes, MGE also touted its regular data submissions to the global environmental impact disclosure platform CDP, as a means of transparency for its operations and governance. On top of this, it participates in the Edison Electric Institute’s (EEI) and American Gas Association’s (AGA) ESG sustainability reporting templates on its energy portfolio, emissions, capital expenditures, human and natural resources, along with its strategies for transitioning.
So far, none of the changes have led to compromised reliability, either. From among more than 75 electric utilities, MGE placed second for the fewest number of electric outages per customer according to an annual industry survey.
