Business Environmental Leadership Council

 

C2ES’s Business Environmental Leadership Council (BELC) was created in 1998 with the belief that business engagement is critical for developing efficient, effective solutions to the climate problem. We also believe that companies taking early action on climate strategies and policy will gain sustained competitive advantage over their peers.

Starting with 13 companies, the BELC is now the largest U.S.-based group of corporations focused on addressing the challenges of climate change and supporting mandatory climate policy. The BELC comprises 40 industry leading, mostly Fortune 500 companies across a range of sectors with combined revenues of nearly $3 trillion and 3.7 million employees. Many different sectors are represented, from high technology to diversified manufacturing; from oil and gas to transportation; from utilities to chemicals.

While individual companies hold their own views on policy specifics, they are united with C2ES in the belief that voluntary action alone will not be enough to address the climate challenge. In 2011, the BELC members accepted the following guiding principles:

  1. We accept the scientific consensus that climate change is occurring and that the impacts are already being felt. Delaying action will increase both the risks and the costs.
  2. Businesses can and should incorporate responses to climate change into their core corporate strategies by taking concrete steps in the U.S. and abroad to establish and meet greenhouse gas (GHG) emission reduction targets, and/or invest in low and zero GHG products, practices and technologies.
  3. The United States should significantly reduce its GHG emissions through economy-wide, mandatory approaches, which may vary by economic sector and include a flexible, market-based program. Complementary policies may also be necessary for sectors such as buildings, electricity generation, forestry, agriculture, and transportation that will help drive innovation and ease the transition to a low-carbon economy.
  4. Climate change is a global challenge that ultimately requires a global solution. An international climate framework must establish fair, effective, and binding commitments for all developed and major developing economies.

BELC Member Profiles

AECOM

Overview

AECOM is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. Headquartered in Dallas, Texas, the company has nearly 50,000 employees delivering projects for public- and private-sector clients spanning transportation, buildings, water, new energy, and the environment. AECOM’s Professional Services business had revenue of $13.3 billion in fiscal year 2021.

Sustainability

In 2021, AECOM launched Sustainable Legacies, the company’s strategy for working toward a more sustainable and equitable future through its own operational commitments and by helping clients achieve their bold environmental, social and governance (ESG) ambitions. This strategy integrates four key pillars: embedding sustainable development and resilience across the company’s work, improving social outcomes for communities, achieving net-zero carbon emissions and enhancing governance.

AECOM has advanced its own carbon emissions goals by achieving operational net zero for fiscal year 2021, while also committing to reach science-based net zero carbon emissions by 2030. To achieve these goals, the company continued to right-size its office space, improve office energy efficiency, including relocating to more efficient offices and switching to renewable energy where possible. For its vehicle fleet, the firm is developing a roadmap to transition to electric vehicles, including installing charging infrastructure at its owned offices. AECOM’s Sustainable Procurement Policy ensures emissions reduction is a key part of its supplier onboarding and other procurement processes. Further, the company is committed to reporting its carbon reductions transparently, and released its first global ESG report in line with the SASB and TCFD frameworks.

Additionally, AECOM launched ScopeX™, a first-of-its-kind initiative to reduce carbon through design that considers embodied and operational carbon across the entire project life cycle with the goal of reducing carbon impact on major projects by at least 50 percent. The company is the first construction and engineering professional services firm of its size to set such an ambitious global target.

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Alcoa

Overview

Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years. Alcoa’s products are used worldwide in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, and industrial applications. The company had 2020 revenues of approximately $9.28 billion.

Sustainability

After achieving its emissions reductions goals, Alcoa set a goal in 2020 to reduce its scope 1 and scope 2 greenhouse gas emission intensity 30 percent by 2025 and 50 percent by 2030 from a 2015 baseline. To achieve its goals, the company has set stringent emissions standards for its internal operations and has developed and deployed mercury emission-reduction technologies across its refineries to meet these standards. Alcoa has also analyzed its operations in line with recommendations from the Task Force on Climate-related Financial Disclosures, identifying areas of risk exposure and strategies to address them.

Alcoa’s low-carbon Sustana products line is the most comprehensive in the aluminum industry today, with three separate products: EcoSourceTM, the low-carbon alumina; EcoLumTM, low-carbon aluminum that measures emissions across the full value chain with no more than 4.0 mt of CO2e per ton of metal produced; and EcoDuraTM, primary aluminum with at least 50 percent recycled content.

Alcoa is certified by the Aluminium Stewardship Initiative (ASI), the industry’s most comprehensive system for third-party validation of responsible production. In addition to earning the Performance Standard for a majority of our assets, Alcoa holds Chain of Custody certifications, which allows the sale of ASI-certified bauxite, alumina, and aluminum.

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Amazon

Overview

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon.

Sustainability

Amazon is committed to building a sustainable business for its customers and the planet. In 2019, Amazon co-founded and became the first signatory of The Climate Pledge—a commitment to be net-zero carbon across its business by 2040, 10 years ahead of the Paris Agreement. As of May 2021, the Pledge has more than 100 signatories. Amazon aims to power its operations with 100 percent renewable energy by 2025, five years ahead of its initial 2030 target, and is the largest corporate buyer of renewable energy. Amazon is also committed to making all of its shipments net zero carbon through its initiative Shipment Zero, with 50% of all shipments net zero carbon by 2030. To achieve these goals, the company is working to improve the efficiency and electrification of its buildings and transportation fleet. In addition to decarbonizing its own operations, Amazon is also prioritizing investments in the broader climate crisis, including a $2 billion investment with The Climate Pledge Fund to support the global development of sustainable and decarbonizing technology, and a $100 million global fund, the Right Now Climate Fund, to bring natural climate solutions to scale.

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American Airlines

Overview

Founded in 1930, American Airlines is now one of the largest airlines in the world. Its purpose is to care for people on life’s journey, offering customers thousands of flights daily to hundreds of destinations around the world.

Sustainability

Climate change is a pressing global challenge. In response, American Airlines has set a goal to achieve net-zero carbon emissions by 2050 and developed a clear roadmap with a long-term vision. The vast majority (more than 98 percent) of American’s carbon dioxide emissions come from petroleum-based jet fuel, and therefore reducing the consumption of jet fuel is a core focus of the company’s climate change strategy. Over the past seven years, American has undertaken the most extensive fleet replacement initiative in the history of commercial aviation, taking delivery of 550 new, more fuel-efficient aircraft. Over the longer term, American expects to rely on technologies with greater potential to reduce emissions, including new engine technology, new aircraft and sustainable aviation jet fuel. While there are many steps American can take to reduce its carbon footprint, transitioning to a low- or no-carbon aviation future will depend on the combined efforts of the private sector and effective policies from governments at all levels, along with advances in airframe, engine and fuel technologies. American is committed to helping lead the way.

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APS

Overview

Arizona Public Service (APS) is the Southwest’s largest producer of electricity, serving 2.7 million Arizonans. Using a balanced energy mix that is nearly 50 percent carbon-free, APS has one of the country’s largest renewable energy portfolios. APS owns and operates the Palo Verde Nuclear Generating Station, the country’s top power producer and largest producer of carbon-free energy. APS is the principal subsidiary of Pinnacle West Capital Corp.

Sustainability

In 2020, APS set a goal to achieve 100 percent carbon-free electricity by 2050, including an interim goal of 65 percent clean energy by 2030, with 45 percent coming from renewable energy. APS also plans to end all coal-based generation by 2031. To achieve its goals, APS is focused on advanced grid technologies such as automated metering infrastructure, control of the grid and advanced grid data analytics and visualization; technology assessment such as rooftop solar research and development, energy storage and microgrids; and business performance innovation, such as joining the Energy Imbalance Market. APS offers customers technology and services that provide them with choice and control over their energy consumption.

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Arconic

Overview

Arconic is a global provider of aluminum sheet, plate and extrusions, as well as innovative architectural products, that advance the ground transportation, aerospace, industrial, packaging, and building and construction markets. The company operates in ten countries and had 2020 revenues of $5.7 billion. 

Sustainability

Arconic is developing a 2030 low carbon roadmap based on in-depth stakeholder dialogue in 2021. Its goals will include improving operational energy and emissions performance, as well as increasing primary and recycled aluminum from low carbon sources. Arconic will also build upon its suite of lightweight aluminum alloys and other technologies across the transportation and building industries to increase efficiency and performance. Four of Arconic’s facilities are certified by the Aluminium Stewardship Initiative, a third-party organization that verifies sustainable practices in the aluminum industry, and the company is working to certify other facilities. 

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Bank of America

Overview

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company operates in more than 40 countries and is headquartered in North Carolina.

Sustainability

Building on Bank of America’s longstanding support for the Paris Climate Agreement, in February 2021, the company outlined initial steps to achieve its goal of net-zero greenhouse gas emissions in its financing activities, operations and supply chain before 2050.

Bank of America achieved carbon neutrality in its operations in 2019, a year ahead of schedule, and increased the number of vendors that measure and publicly report greenhouse gas emissions through the CDP Supply Chain survey. Bank of America has now established the next set of targets for its operations and supply chain to be achieved by 2030, including:

  • Reduce location-based greenhouse gas emissions by 75 percent (Scope 1 and 2).
  • Reduce energy use by 55 percent.
  • Reduce potable water use by 55 percent
  • Ensure 70 percent of global vendors, by spend, set greenhouse gas emissions reduction or renewable energy targets.

Also in 2021, Bank of America set a $1.5 trillion sustainable finance goal by 2030 to deploy, mobilize and scale capital for both environmental transition and social inclusive development purposes. As part of the sustainable finance goal, the Environmental Business Initiative (EBI) will deploy $1 trillion by 2030 to accelerate the transition to a low‑carbon, sustainable economy.

Bank of America has also analyzed its operations in line with recommendations from the Task Force on Climate-related Financial Disclosures, and released its report identifying climate-related risks and mitigation strategies in 2020. The company joined the Partnership for Carbon Accounting Financials (PCAF) in July 2020 to help develop a common framework to assess financed emissions.

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Berkshire Hathaway Energy

Overview

Berkshire Hathaway Energy is a holding company of locally managed businesses delivering affordable, safe and reliable energy services to more than 11.6 million electric and gas customers and end-users globally. Approximately one third of the company’s owned and contracted generating capacity comes from renewable and non-carbon sources.

Sustainability

Berkshire Hathaway Energy shares a vision for a secure and sustainable energy future Berkshire Hathaway Energy oversees BHE Renewables and its solar, wind, hydro and geothermal projects, making it the owner of one of the largest renewable energy portfolios in the United States. BHE’s sustainability efforts are guided by the company’s Environmental RESPECT Policy, which covers the areas of Responsibility, Efficiency, Stewardship, Performance, Evaluation, Communication and Training.  BHE is engaged in a voluntary industry environment, social, and governance (ESG) effort with the Edison Electric Institute and members of the financial community, to strengthen consistent, transparent reporting key sustainability measures.

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BHP

Overview

BHP is a global mining, metals and petroleum company whose purpose is to create long-term shareholder value through the discovery, acquisition, development and marketing of natural resources. The company owns and operates a diverse range of businesses in different countries and ecosystems around the world.

Sustainability

In 2020, BHP set a goal to achieve net zero operational emissions by 2050. In the interim, BHP aims to reduce scope 1 and 2 GHG emissions at least 30 percent from 2020 levels by 2030. BHP is also working with suppliers to reduce its scope 3 emissions. To achieve its emissions goals, BHP established a $400 million Climate Investment Program to invest more resources in low emissions technologies and other activities to decarbonize its operations and value chain. The company established agreements for 100 percent renewable electricity use in its Chilean operations, and for a portion of its electricity needs in Australia to be met by renewables. BHP’s Vice President of Sustainability and Climate Change is a member of the Task Force on Climate-related Financial Disclosures, and the company’s 2020 Sustainability Report aligns with TCFD recommendations for climate risk disclosure.

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BP

Overview

BP is one of the world’s leading international oil and gas companies. It provides customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving, and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging.

Sustainability

Oil and natural gas companies generate greenhouse gases in almost every aspect of their operations. Acknowledging their impact on climate change, BP aims to manage its emissions through energy efficiency, reductions in flaring (the controlled burning of natural gas), methane management and the design of new projects.

BP considers placing an economy-wide price on carbon –either through carbon taxes or a cap-and-trade system– as the best solution to limit greenhouse gas emissions, and it is playing its part by calling for a price on carbon, providing lower-carbon products including natural gas and renewables, pursuing energy efficiency and supporting research. BP already requires its businesses to use an internal carbon price –currently set at $40 per ton of carbon dioxide (CO2) equivalent for industrialized countries– in evaluating large new projects.

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Chemours

Overview

Chemours is a chemistry company that creates products in industries ranging from automotive, paints, and plastics to electronics, construction, energy, and telecommunications. The company’s main product businesses include titanium technologies, thermal and specialized solutions, advanced performance materials, and chemical solutions. Chemours operates 37 manufacturing and laboratory sites worldwide that serve customers in over 120 countries and had 2020 net sales of $1.1 billion.

Sustainability

In 2021, Chemours announced its commitment to achieving net zero Scope 1 and 2 greenhouse gas emissions by 2050 with an interim target to reduce absolute operational emissions by 60 percent by 2030. Additionally, Chemours seeks to improve the sustainability of suppliers, diversify the company’s workforce, and generate revenue from sources that contribute to the United Nations’ Sustainable Development Goals. To achieve its goals, Chemours installed new equipment in facilities across the United States to reduce both greenhouse gas emissions and other emissions resulting from fluorinated organic chemicals processes. In 2019, the company successfully constructed a thermal oxidizer with the ability to remove over 99 percent of the FOC air process emissions at a facility in North Carolina. Chemours also established a baseline for the sustainability performance of 80 percent of suppliers (by spend), where suppliers must demonstrate 15 percent improvement, which led to about a nine-fold increase in corporate responsibility assessment participation by suppliers in 2019.

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CMS Energy Corporation

Overview

CMS Energy Corporation is committed to clean energy for customers through its work and that of its subsidiaries, including Consumers Energy Company and CMS Enterprises Company. Consumers Energy is Michigan’s largest electric and natural gas utility serving 6.7 million of the state’s 10 million residents. CMS Enterprises owns, operates and markets domestic independent power production and develops, owns and operates wind and solar generation. CMS Energy engages its 8,500 employees to strive to fulfill its purpose of “World Class Performance Delivering Hometown Service” and measures its success through a triple bottom line focused on People, Planet and Profit. The company had 2020 revenues of $6.68 billion.  

Sustainability

CMS Energy and its primary subsidiary, Consumers Energy, have integrated sustainable principles throughout the company. In the past five years, Consumers Energy has created a cleaner, more sustainable energy future for Michigan by taking a leadership position in reducing air emissions, water use and landfill waste. Its actions to date have reduced its carbon emissions by more than 35 percent, reduced water use by more than 40 percent and avoided more than one million cubic yards of landfill disposal. 

In its 2021 proposed Integrated Resources Plan, Consumers Energy announced plans to achieve 60 percent emissions reductions by 2025, which will keep the company on track to meet its net-zero carbon emissions target by 2040. The company also announced that it plans to retire all of its remaining coal plants by 2025, making it one of the first utilities in the nation to go coal-free by 2025. Additionally, the company plans to source 90 percent of its electric capacity from clean sources by 2040, with 60 percent from renewables, after generating 11 percent of its energy from renewables in 2020. To achieve this target, Consumers Energy plans to add another 8,000 megawatts of solar by 2040.  

 Consumers Energy is embracing a cleaner and leaner vision, focused on eliminating wasted energy and adding more renewable energy sources such as wind and solar. Consumers Energy is also helping to reduce the gas utility’s methane footprint. In 2019, it set an industry-leading goal of net-zero methane emissions from its natural gas delivery system by 2030 as outlined in our Methane Reduction Plan. Consumers Energy plans to reduce methane emissions from its system about 80 percent by replacing aging pipe, rehabilitating or retiring outdated infrastructure, and adopting new technologies and practices. Remaining emissions will be eliminated by purchasing and/or producing renewable natural gas, to mitigate greenhouse gases by capturing emissions that would otherwise go to the atmosphere.  

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Dominion

Overview

More than 7 million customers in 16 states energize their homes and businesses with electricity or natural gas from Dominion Energy, headquartered in Richmond, Virginia. The company is committed to providing sustainable, reliable, affordable, and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Dominion is an electric and natural gas utility serving approximately 7 million customers in 16 states. The company had 2020 revenues of $14.17 billion.

Sustainability

Over the last 15 years, Dominion Energy has reduced carbon emissions by more than 50 percent and methane emissions by 25 percent. By 2050, the company will achieve net zero greenhouse gas emissions across their electric and natural gas operations in all 16 states where they do business. To achieve its goal, the company is investing in battery storage technology to improve reliability with renewable energy, developing advanced zero-carbon nuclear technology to power major cities, promoting public policies to support investment in new and emerging technologies, and exploring carbon capture initiatives.

According to the company, Dominion Energy operates the 3rd largest solar fleet among utilities in the United States and is leading the country in offshore wind. The Coastal Virginia Offshore Wind two-turbine pilot project is the first project installed in federal waters and is the only project developed and owned by an electric utility. When fully constructed in 2026, the 188-turbine commercial project will be the largest offshore wind project in the United States.

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Dow Chemical Company

Overview

Dow Chemical Company is a global materials science company that combines the power of science and technology to drive innovation. The company is headquartered in Midland, Michigan, with operations in 31 countries and 2020 net sales of $38.54 billion. Its portfolio spans three operating segments: packaging and specialty plastics, industrial intermediates and infrastructure, and performance materials and coatings.

Sustainability

In 2020, Dow set a goal to achieve carbon neutrality by 2050. The company also has interim goals to reduce its net annual carbon emissions 15 percent from its 2020 baseline by 2030; collect, reuse, or recycle one million metric tons of plastic by 2030; and enable 100 percent of its products sold into packaging applications to be reusable or recyclable by 2035. Additionally, Dow has established three sets of 10-year sustainability goals since 1995. Its 2025 goals include integrating public policy solutions, science, technology and value chain innovation; increasing confidence in chemical technology; and maintaining world-leading operations performance in natural resource efficiency, environment, health and safety. To achieve its goals, Dow introduced a new line of mechanically recycled plastic resins for flexible and rigid plastic packaging applications which have the potential to reduce carbon and energy footprints of applications by up to 20-30 percent, helped develop a tool to identify and incorporate the value of nature into business decision-making, and established partnerships with recyclable materials companies, among other actions. Dow is a member of the Alliance to End Plastic Waste and Circulate Capital, and has partnerships with the International Olympic Committee and the U.S. Green Building Council that encourage outside organizations to reduce emissions.

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DTE Energy

Overview

DTE Energy Co. is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its largest operating subsidiaries are DTE Electric and DTE Gas. Together, these regulated utility companies provide electric and/or gas services to more than three million residential, business and industrial customers throughout Michigan. The company had 2020 revenues of approximately $12.18 billion.

Sustainability

DTE has set goals to achieve net zero emissions by 2050 in both its electricity and natural gas businesses. As interim goals, DTE Electric plans to reduce its emissions 50 percent by 2030 and 80 percent by 2040. To achieve its goals, the company is retiring coal-fired power plants, incorporating natural gas to balance more renewables, expanding voluntary renewables energy programs, advocating for constructive public policy, investing in research on carbon capture, large-scale storage and modular nuclear facilities, and adding thousands of megawatts of wind and solar power.  Decarbonization goals for DTE Gas are holistic across the natural gas value chain and include achieving net zero by 2050 for its suppliers as well as DTE’s own natural gas operations.  In addition, DTE has committed to a 35 percent reduction in customer emissions by 2050 through the use of alternative fuels and new technologies, energy efficiency gains, and offsets.

DTE has invested more than $2.8 billion in renewable resources since 2008 and will invest an additional $2 billion over the next five years. By 2030, at least 25 percent of the energy DTE provides will come from renewable resources. Increasing generation from renewable resources is part of DTE’s long-term plan to transform its generation portfolio and reduce carbon emissions.

DTE also offers programs for customers to improve residential energy efficiency, reduce EV charging bills, and increase their usage of renewable energy. DTE also seeks to help its natural gas customers reduce their emissions footprint. Launched in January 2021, DTE’s CleanVision Natural Gas Balance program enables customers to purchase nature-based carbon offsets from Michigan-based forestry projects, the proceeds of which also support the development of renewable natural gas (RNG) that can further reduce greenhouse gas emissions from customer use of natural gas.

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Duke Energy

Overview

Duke Energy is the largest electric power holding company in the United States, supplying and delivering energy to approximately 7.4 million customers across the U.S. Southeast and Midwest. Its commercial and international businesses own and operate diverse power generation assets in North America and Latin America, including a portfolio of renewable energy assets. The company had 2020 revenues of approximately $23.86 billion.

Sustainability

In 2019, Duke Energy announced goals to achieve net-zero carbon dioxide emissions by 2050 and to reduce carbon dioxide emissions from its electricity generation 50 percent by 2030 from a 2005 baseline. In 2019, the company decreased its carbon emissions an additional 8 percent from 2005 levels, bringing total reductions thus far to 39 percent. By 2030, Duke aims to achieve net zero methane emissions across its natural gas operations, and has joined ONE Future, a coalition of natural gas companies identifying solutions to reduce methane emissions across the natural gas supply chain. To achieve its carbon emissions reduction goals, Duke plans to at least double its portfolio of solar, wind and other nonhydroelectric renewables by 2025 to 16 gigawatts; continue expanding energy storage, energy efficiency and demand management, as well as electric vehicle infrastructure to support decarbonization of the transportation sector; and retire additional coal plants. Duke has committed $500 million to bring 300 megawatts of battery storage to the Carolinas online over the next 15 years.

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Eastman

Overview

Eastman is a global advanced materials and specialty additives company. Its major end markets include transportation; building and construction; consumables; consumer durables; industrials and chemicals processing; food, feed and agriculture; and health and wellness. Eastman employs approximately 14,500 people around the world, serving customers in more than 100 countries. The company, headquartered in Kingsport, Tennessee, had approximately $8.5 billion in revenue in 2020.

Sustainability

In December 2020, Eastman set a goal to achieve carbon neutrality by 2050, with an interim goal of reducing Scope 1 and Scope 2 emissions 30 percent from 2008 levels by 2030. In 2019, Eastman achieved a 24 percent reduction in greenhouse gas intensity from a 2008 baseline, exceeding its 2020 goal. To achieve its current goals, Eastman will expand its energy efficiency programs, develop opportunities for process transformation, expand its utilization of renewable energy, and invest in technology and product innovation both internally and externally through research and development partnerships. Eastman established an internal Carbon and Climate Working Group of individuals across the company to inform and develop its sustainability strategy. Eastman is also engaged in a partnership with Canopy to support more sustainable supply chains and forest conservation. To further its commitment to circular economy strategies, the company is engaged in partnerships such as the Ellen MacArthur Foundation’s Circular Economy 100 and Operation Clean Sweep, and aims to recycle 250 million pounds of plastic waste annually by 2025.

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Edison International

Overview

Edison International (EIX) is one of the nation’s largest electric utility holding companies, providing safe, clean and reliable energy and energy services through its independent companies. EIX is the holding company of Southern California Edison Company (SCE), a rate-regulated electric utility that supplies electric energy to approximately 15 million people in a 50,000 square-mile area within Central, Coastal and Southern California. EIX also owns Edison Energy, a global energy advisory company delivering comprehensive, data-driven energy solutions to commercial, institutional and industrial users to meet their cost, sustainability and risk goals. The company had 2020 revenue of approximately $13.578 billion.

Sustainability

Edison International has a goal to deliver 100 percent carbon-free electricity to Southern California Edison (SCE) customers by 2045, in accordance with California law, with an interim goal of 80 percent carbon-free electricity by 2030. In 2020, approximately 43 percent of the power that SCE delivered to customers came from carbon-free resources. To achieve its goals, SCE is proposing to invest more than $5 billion per year in its grid; engaging in policy advocacy; building cross-sector partnerships, particularly around electrification; and enhancing its customer programs. Through its Charge Ready program, SCE is building infrastructure to support 8,490 medium- and heavy-duty vehicles across 870 sites by 2024, and more than 41,000 light-duty electric vehicle charge ports across 2,200 sites by 2025. SCE has also committed to electrify its own vehicle fleet, including 100 percent of light-duty vehicles, 30 percent of medium-duty vehicles, 8 percent of heavy-duty vehicles, and 60 percent of forklifts by 2030. Edison Energy’s Renewables Advisory team has executed more than 6.7 gigawatts of long-term renewable energy purchases for numerous major corporations and institutions—directly contributing to their financial, operational and environmental goals. In 2020, Edison Energy advised on more than 2.2 gigawatts of renewable power purchase agreements, including facilitating the largest clean energy procurement in the automotive sector. Edison Energy supports 15 of the Fortune 50 companies’ efforts to meet their climate goals.

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Entergy

Overview

Entergy Corporation is an integrated energy company, engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 10,000 megawatts of nuclear power.

Sustainability

Entergy announced in September 2020 that it is accelerating its climate action goals with a commitment to achieving net-zero carbon emissions by 2050. The company also reaffirmed its continued commitments to grid reliability and affordability for customers. The commitment to achieve net-zero emissions by 2050 builds on Entergy’s 20-year history of climate action and positions the company for five decades of leadership toward advancing a cleaner and more sustainable future for all stakeholders. Entergy was also the first U.S. utility to voluntarily commit to stabilizing carbon dioxide emissions. In 2011, the company adopted Environment 2020, a comprehensive environmental strategy and management system that covers six areas of strategic action: environmental footprint, proactive adaptation, compliance leadership, energy efficiency, clean generation and stakeholder engagement.

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Equinor

Overview

Equinor is a Norwegian-based international energy company with operations in more than 30 countries. They are the largest offshore operator in the world, the second largest supplier of natural gas to the European market, and a major investor in both the onshore and offshore US upstream energy sector. They have also developed a portfolio of new energy solutions, including an offshore wind license in New York and three operational offshore wind farms in the UK, on track to deliver renewable energy to one million European households.

Sustainability

In November 2020, Equinor set a goal to achieve net-zero emissions by 2050, which applies to all of the company’s scope 1 and 2 emissions, as well as a portion of its scope 3 emissions. As part of this goal, Equinor aims to reduce its net carbon intensity to zero by 2050; grow renewable energy capacity tenfold by 2026, particularly through offshore wind; and strengthen its industry leading position on carbon efficient production, aiming to reach carbon neutral global operations by 2030. To achieve its goals, Equinor is increasing the percentage of its R&D budget dedicated to low-carbon energy and energy efficiency, as well as expanding electrification projects, energy efficiency measures, and new value chains such as carbon capture and storage and hydrogen. The company has developed a portfolio of new energy solutions, including an offshore wind license in New York and three operational offshore wind farms in the UK, on track to deliver renewable energy to one million European households. Equinor also aims to keep methane emissions intensity at near zero and to eliminate routine flaring by 2030.  To bolster its work on reducing methane emissions, Equinor joined the One Future Coalition, the Climate and Clean Air Coalition Oil and Gas Methane Partnership and the Guiding Principles on Reducing Methane Emissions Across the Natural Gas Value Chain. Equinor is also increasing its engagement with governments and like-minded organizations to support carbon pricing and complementary climate and energy policies. The company is committed to reporting on climate-related risks and opportunities in line with the recommendations of the Task Force on Climate-related financial Disclosures (TCFD).

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Exelon Corporation

Overview

Exelon Corporation is one of the nation’s largest energy providers, with approximately $23.5 billion in annual revenues. The Exelon family of companies participates in every stage of the energy business, from generation to competitive energy sales to transmission to delivery. Exelon is composed of Exelon Generation, Constellation, delivery companies BGE, ComEd, PECO, Atlantic City Electric, Delmarva Power and Pepco and a shared corporate services unit, Exelon Business Services Company.

Sustainability

In 2018, Exelon set its third-generation emissions reduction goal, aiming to reduce greenhouse emissions 15 percent by 2022 from 2015 levels. Exelon was among the earliest energy companies to focus on addressing its carbon emissions, and its owned generation fleet carbon dioxide emission rate is 93 percent lower than the industry average. In 2008, Exelon launched Exelon 2020, an ambitious program to reduce, offset, or displace more than 15 million metric tons of greenhouse gas emissions per year by 2020. The company reached more than 18 million metric tons in 2013, seven years ahead of schedule. To achieve its current goal, Exelon will reduce methane emissions from natural gas distribution systems, reduce losses from other GHG gas-insulated electrical equipment, and invest in vehicle electrification. Exelon will also increase the energy efficiency of its own buildings and select emissions-free electricity at its facilities. Exelon’s utilities have enabled more than 103,000 customers to connect 1,232 MW of local renewable generation to the emerging smart grid. Exelon is active in policy advocacy and is a founding member of the Climate Leadership Council and its proposal to create an escalating, nationwide carbon fee and dividend program in the United States. The company participates in the U.S. Department of Energy’s (DOE) Partnership for Electric Sector Climate Resilience under which the DOE and industry partners identify best practices for resilient utilities in a changing climate.

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Ford Motor Company

Overview

Ford Motor Company is a global company headquartered in Dearborn, Michigan. Ford develops and delivers popular trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, as well as connected services. Ford is also establishing leadership positions in mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs approximately 182,000 people worldwide, with about 88,000 employees in the United States. Its 2020 revenues were $127.1 billion.

Sustainability

In July 2020, Ford announced its goal to achieve carbon neutrality no later than 2050. By 2035, Ford aims to reduce absolute greenhouse gas emissions from company global operations by 76 percent and from new vehicles sold globally by 50 percent per kilometer, targets that are in line with the Science-Based Targets Initiative.

To achieve its goals, Ford is focusing on three areas that account for approximately 95 percent of its carbon dioxide emissions: vehicle use, the company’s supply base, and the company’s facilities. In September 2021, the company announced it will spend $11.4 billion to build four factories in the United States to produce electric trucks and batteries. In November 2021 at COP26 in Glasgow, Scotland, Ford joined RouteZero, a global coalition working towards 100 percent electric cars and vans globally by 2040, and no later than 2035 in leading markets. Ford was one of the first U.S. automakers to issue a sustainability report 23-years ago, and in 2021, released its first integrated sustainability and financial report. In July 2022, Ford announced the company has secured enough batteries and raw materials to meet its EV production goals for the end of 2023, and a majority of what the company will need by the end of 2026.

Ford works closely with its suppliers, from factories to mines for raw materials, to both reduce carbon emissions and help the people and communities around them thrive. Its investments in EVs and the batteries that power them are helping build the next generation of clean manufacturing, creating good jobs with the aim of growing a business that strengthens local communities.

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General Electric

Overview

For more than 125 years, General Electric (GE) has pioneered technologies that have spurred world-transforming changes and improved the lives of billions. GE’s equipment and solutions are deployed in more than 64,000 commercial and military aircraft (including GE and its joint venture partners), 45,000 onshore wind turbines, 7,700 gas turbines, and more than four million healthcare installations. The company had 2020 revenues of $79.6 billion.

Sustainability

GE is rising to the challenge of building a world that works, with a focus on opportunities for its technology in: the energy transition to drive decarbonization, precision medicine that personalizes diagnoses and treatments, and the future of smarter and more efficient flight. In October 2020, GE set a new goal to achieve carbon neutrality within its own operations by 2030 after surpassing its 2020 emissions reductions targets ahead of schedule, and the company announced its intention to exit the new-build coal power market. From the Haliade™-X, the world’s most powerful offshore wind turbine in operation; to its HA gas turbine fleet, which can work with up to 50% hydrogen today; to digital solutions that help utilities modernize and bring more renewables onto the grid, GE is enabling substantive emissions reductions today while accelerating new technologies for lower-carbon power generation. The company is also active in advocating for public policy changes, and identifies public policy priorities on an annual basis.

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General Motors

Overview

Founded in 1908, General Motors (GM) is one of the world’s largest automakers. The company sells its cars and trucks to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. GM also works to develop innovative technologies to shape the future of the automotive and mobility industries through new brands and ventures. With approximately 155,000 employees worldwide, the company had 2020 revenues of $122.48 billion.

Sustainability

In January 2021, GM announced goals to achieve carbon neutrality across its global products and operations by 2040 and an aspiration to eliminate tailpipe emissions from new light-duty vehicles by 2035. In late 2020, GM announced that it will launch 30 new electric car models globally by 2025 and spend $27 billion on electric and autonomous vehicles. Per GM’s goals, all its U.S. plants will run on renewable energy by 2030, and all its global plants will do so by 2035. Working with its suppliers, the company also set a target to sustainably source at least 50 percent of the material for its vehicles by 2030. To achieve its goals, GM will continue investing in energy efficiency, purchasing renewable energy, scaling and utilizing its energy storage expertise, and leveraging policy solutions. The company is working with EVgo, an electric vehicle charging stations company, to add more than 2,700 new fast chargers to its network by the end of 2025.

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Holcim US, Inc.

Overview

Holcim (formerly LafargeHolcim) US, Inc. is one of the largest manufacturers and suppliers of cement and mineral components in the United States. The US transition from Lafarge Holcim US to Holcim US in March 2022 united legacy brands in the building sector. The company employs over 7,000 individuals across 43 states and offers a range of cement, concrete, aggregates and asphalt products and services through brands including Lafarge, Holcim, Aggregate Industries and Lattimore Materials. Holcim US is headquartered in Chicago, Illinois, and, previously as Lafarge Holcim US, had 2020 revenues of $6.46 billion in North America.

Sustainability

In 2020, Holcim globally committed to achieving net-zero scope 1 emissions, being carbon neutral in scope 2 emissions, and reducing scope 3 emissions 50 percent by 2050 from a 2020 baseline. The company is partnering with SBTi to define its roadmap to 2050. To achieve its goals, Holcim is implementing novel binders and low clinker cements, as well as piloting over twenty carbon capture utilization and storage pilot projects across Europe and North America. The company’s US’s CO2ment Colorado project has received $1.5 million from the United States Department of Energy’s National Energy Technology Laboratory to evaluate the feasibility of the facility, which is designed to capture up to 2 million tons of carbon dioxide per year from the cement plant and the natural gas-fired steam generator. Holcim (formerly as LafargeHolcim) partnered with IBM to create ORIS, the industry’s first digital platform for sustainable road construction. In 2020 the company launched EcoLabel, which transparently communicates the environmental benefits of its green building solutions across four segments and in all markets. Also in 2020, the company became the first global building materials company to sign the United Nations Global Compact’s “Business Ambition for 1.5°C” initiative. The company is active in advocating for effective carbon pricing mechanisms, working alongside governments, stakeholders, and coalitions.

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Net-Zero Pledge

2020 Sustainability Performance Report

HP Inc.

Overview

HP is a leading global provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. The company sells to individual consumers, small- and medium-sized businesses (“SMBs”) and large enterprises, including customers in the government, health and education sectors.  HP’s mission is to create technology that makes life better for everyone everywhere.  The company is headquartered in Palo Alto, California, and had 2020 revenues of  $56.6 billion.

Sustainability 

HP is committed to creating positive, lasting change through its three-pillar sustainable impact strategy for People, Planet and Communities.

  • “People: Enable all people who help bring our products to market to thrive at work, at home, and in their communities and embed diversity and inclusion in everything we do.
  • Planet: Transform our entire business to advance a more efficient, circular, and low-carbon economy and enable our customers to invent the future through our most sustainable portfolio of products and services.
  • Communities: Unlock educational and economic opportunity through the power of technology. Improve the vitality and resilience of our local communities.

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IBM

Overview

IBM creates value for clients by providing integrated solutions and products that leverage data, information technology, deep expertise in industries and business processes, with trust and security and a broad ecosystem of partners and alliances. These solutions draw from an industry-leading portfolio of consulting and IT implementation services, cloud, digital and cognitive offerings, and enterprise systems and software — all bolstered by one of the world’s leading research organizations. Headquartered in Armonk, NY with operations worldwide, IBM’s 2020 revenue was $73.6 billion.

Sustainability

In February 2021, IBM announced it will achieve net zero GHG emissions by 2030, furthering its decades-long work in addressing climate change. The goal covers IBM’s Scopes 1 and 2 emission, and Scope 3 emissions from its electricity consumption at co-location data centers. IBM will accomplish this by prioritizing on reducing emissions via energy efficiency and transitioning to renewables. IBM will reduce GHG emissions 65 percent by 2025 from 2010 levels; source 75 percent of the electricity it consumes from renewables by 2025, and 90 percent by 2030. IBM will use feasible technologies (in or by 2030), such as carbon capture to remove emissions in an amount equals or exceeds its residual emissions. In 2019, 47 percent of IBM’s electricity consumption came from renewable sources, and IBM had reduced emissions 40 percent against a 2005 baseline.  IBM Research launched a Future of Climate initiative in 2020 including efforts to accelerate the discovery of solutions that help addressing climate change.

IBM issued its formal corporate environmental policy in 1971.  Since 1990, IBM has disclosed environmental performance in its annual Corporate Environmental Report.

In 2007, IBM published its position on climate change recognizing it as a serious concern warranting timely, meaningful action on a global basis to address. Since 2010, IBM has required its first-tier suppliers to establish a management system to address their social and environmental responsibilities, including setting targets to reduce GHG emissions. In 2015 and again in 2017, IBM publicly supported the UN Paris Agreement. In 2019, IBM became a Founding Member of the Climate Leadership Council, supporting its plan for a carbon tax.

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Intel

Overview

Intel, a leader in the semiconductor industry, develops computing and communications technology that is the foundation of the world’s innovations. The company’s engineering expertise helps secure, power, and connect billions of devices and the infrastructure of the smart, connected world—from the cloud to the network to the edge and everything in between. The company had 2020 revenues of $77.9 billion.

Sustainability

Intel has a suite of 2030 goals, including achieving 100 percent renewable energy use across its global manufacturing operations, conserving an additional 4 billion kilowatt hours of energy, reducing its absolute scope 1 and 2 carbon emissions an additional 10 percent from 2010 levels, increasing product energy efficiency tenfold for Intel client and server microprocessors to reduce its scope 3 emissions, and achieving net positive water use by conserving 60 billion gallons of water and funding external water restoration projects. Since 2000, the company has achieved a 31 percent absolute reduction in its scope 1 and 2 emissions. Intel has met 100 percent of its U.S. electricity use with green power since 2015. It has invested more than $200 million in energy conservation projects in its global operations, resulting in cumulative savings of more than 4.5 billion kilowatt-hours and cost savings of more than $500 million through the end of 2019. Intel has requested that its top suppliers disclose carbon footprint, water data, and climate risk information through CDP and has required suppliers to set carbon reduction goals.

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JPMorgan Chase & Co.

Overview

JPMorgan Chase & Co. is a leading global financial services firm, servicing millions of consumers, small businesses and many of the world’s most prominent corporate, institutional, and government clients. The company had 2020 revenues of $119.5 billion.

Sustainability

In 2020, JPMorgan Chase began maintaining carbon neutral operations on an annual basis. This commitment includes the company’s scope 1 and 2 emissions, as well as scope 3 emissions from employee travel. Also in 2020, JPMorgan Chase began sourcing renewable energy for 100 percent of its global power needs annually. In 2021, the company set a target to reduce its scope 1 and scope 2 emissions by 40 percent by 2030 from 2017 levels. JPMorgan Chase committed to facilitate $200 billion in financing in 2020 to drive action on climate change and advance the objectives of the United Nations Sustainable Development Goals. The firm also announced a $1 billion inaugural green bond issuance to fund eligible green projects, which may include the financing or refinancing of projects related to green buildings and renewable energy projects as well as lending to clients for eligible green projects. In 2020, the firm announced it would not provide lending, capital markets or advisory services to companies deriving the majority of their revenues from coal extraction. The firm is launching the Center for Carbon Transition to provide clients with centralized access to sustainability-focused financing, research and advisory solutions. JPMorgan Chase continues to advocate for market-based policy solutions, including a price on carbon and the commercialization of new technologies that can help advance deep decarbonization.

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Morgan Stanley

Overview

Morgan Stanley is a global financial services firm that advises, originates, trades, manages and distributes capital for governments, corporations, institutions and individuals. The firm maintains significant market positions in three business segments: Institutional Securities, Wealth Management and Investment Management and provides a wide variety of products and services to a large and diversified group of clients and customers. The company had 2020 revenues of approximately $48.198 billion.

Sustainability

In 2020, Morgan Stanley committed to achieving net-zero financed emissions by 2050. By 2022, the company will achieve carbon neutrality for its global energy, direct emissions, and corporate travel carbon footprint as well as source 100 percent of its electricity from renewable sources. In addition, Morgan Stanley aims to reduce its energy usage by 20 percent by 2022, from a 2012 baseline. Since 2006, the firm has reduced its annual office greenhouse gas emissions per square foot by over 45 percent. The firm’s Global Sustainable Finance Group, created in 2009, partners with teams across Morgan Stanley’s three businesses to implement sustainable solutions. To achieve its goals, Morgan Stanley has committed to developing on-site power generation, purchasing renewable energy credits, and pursuing carbon offsets. The company’s on-site solar and fuel cell installations generate more than 7.8 million kilowatt-hours of clean electricity annually. Since 2018, the firm has financed approximately $210 billion toward its goal of $250 billion to support climate-related solutions by 2030. In 2020, the company launched the Morgan Stanley Sustainable Solutions Accelerator, which will back breakthrough scalable innovations on global challenges such as climate change and plastic waste. Morgan Stanley is the only major U.S.-headquartered global financial services firm on the Partnership for Carbon Accounting Financials (PCAF) Steering Committee.

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Microsoft

Overview

Microsoft is a platform and productivity company for the mobile-first, cloud-first world, and is a worldwide leader in software, services, devices and solutions. It seeks to help people and businesses realize their full potential. The company is headquartered in Redmond, Washington, and had 2020 revenues of $143 billion.

Sustainability

In January 2020, Microsoft committed to become carbon negative by 2030 and to remove from the environment more carbon than the company has emitted since its founding by 2050. The company has been carbon neutral since 2012 and has been powered completely by renewable energy since 2014. Microsoft pledged to stop using diesel fuel entirely by 2030 and has started to score its suppliers on their carbon emissions. To achieve its goals, the company is investing $50 million in Energy Impact Partners, a private equity firm dedicated to developing decarbonization technologies. Microsoft is also partnering with Sol Systems to bring solar energy to under-resourced communities, working closely with minority and women-owned businesses. Having committed to net-negative carbon emissions, Microsoft is looking to source carbon removal from a range of nature- and technology-based solutions while driving demand for more efficient carbon removal methods.

Microsoft also created the Microsoft Sustainability Calculator for cloud customers to gain transparency into its Scope 1, 2, and 3 emissions. The company updated its Supplier Code of Conduct so that suppliers will now calculate and report their Scope 1, 2, and 3 greenhouse gas emissions data. While Microsoft has had an internal carbon fee for Scope 1 and 2 emissions since 2012, the internal fee now also extends to Scope 3 emissions.

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National Grid

Overview

National Grid is a one of the largest investor-owned utilities in the United States and provides energy to more than 20 million gas and electric customers in Massachusetts, New York, and Rhode Island. The company is headquartered in London, United Kingdom, and had 2020 revenues of $20.55 billion through its U.S. and U.K. operations.

Sustainability

In 2020, National Grid set a target to achieve net-zero scope 1 and 2 emissions by 2050, after exceeding its 80 percent emissions reduction target by 25 percent in 2020. To reach net-zero emissions on this timeline, the company set an interim goal to reduce greenhouse gas emissions by 70 percent from 1990 levels by 2030. In 2015, National Grid achieved a 62 percent reduction in its scope 1 and 2 greenhouse gas emissions compared to a 1990 baseline. The company also seeks to decarbonize its gas network by shifting to renewable natural gas and hydrogen. To achieve its goals, National Grid is converting its fleet to alternative fuel vehicles; eliminating emissions from sulfur hexafluoride (SF6), an extremely potent greenhouse gas; increasing its efficiency; and switching to renewables. Through its $250 million investment fund, National Grid Partners, the company is supporting research to aid the growth of energy technologies including large-scale carbon management, battery storage, and grid modernization. Additionally, the company’s UK operations contributed no waste to landfills in 2019 through National Grid’s efforts to recycle and send waste to be converted to electricity at waste-to-energy facilities.

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PG&E Corporation

Overview

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation, is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in northern and central California. PG&E is headquartered in Oakland, CA, and had 2020 operating revenues of $18.469 billion.

Sustainability

PG&E embraces the “triple bottom line” and has a foundational role in achieving California’s goal of carbon neutrality by 2045 and transitioning the state to a decarbonized and more climate-resilient economy. PG&E is on track to meet the Million Ton Challenge, a voluntary goal to avoid one million tons of greenhouse gas emissions from its operations over five years. PG&E is also helping to enable the state’s transition to carbon neutrality by delivering some of the nation’s cleanest electricity to customers—about 85 percent greenhouse-gas free in 2020—and awarding contracts for more than 1.7 gigawatts of battery energy storage, strengthening the state’s grid efficiency and reliability. The company is also pursuing decarbonization initiatives for California’s natural gas delivery system, including working to interconnect several renewable natural gas projects. PG&E is committed to accelerating EV adoption to meet California’s clean air and climate goals—fueling about 360,000 EVs registered in its service area, which total about 20 percent of all EVs in the country. PG&E also partners with its customers by offering a full portfolio of programs and incentives to help them reduce their carbon footprint and by investing in EV charging infrastructure—installing nearly 5,000 Level 2 electric vehicle charging ports through its EV Charge Network program, with 39 percent of the chargers in disadvantaged communities.

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Public Service Enterprise Group

Overview

Public Service Enterprise Group Inc. (PSEG) is a diversified energy company with approximately 13,000 employees serving as New Jersey’s largest electric and natural gas utility, providing for 2.3 million electric customers and 1.9 million natural gas customers in the state. Headquartered in Newark, N.J., PSEG’s principal operating subsidiaries are: Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company included in the S&P 500 Index and has been named to the Dow Jones Sustainability Index for North America for 14 consecutive years.

Sustainability

PSEG committed to accelerate its net-zero ambitions by launching a three-pronged 2030 climate vision that extends across its business. The 2030 net-zero vision is one of the first and most aggressive targets for a large utility and power generator. These three prongs of their net zero vision include: Net-zero emissions for PSEG operations, including PSE&G’s utility operations (scopes 1 and 2); 100% greenhouse gas- (GHG), carbon-free power generation; and significant contributions to regional economy-wide decarbonization. The company recently joined the Business Ambition for 1.5°C and the Race to Zero campaigns, which commits to developing science-based emissions reduction targets.  In August 2021, PSEG entered into an agreement to sell its non-nuclear fossil generating portfolio continuing its evolution toward a clean energy infrastructure-focused company that will enable an increasingly low-carbon economy. PSEG nuclear plants provide over 90 percent of New Jersey’s carbon-free power and there continued investments in regional opportunities in offshore wind, including a 25 percent equity interest in Ocean Wind, a 1,100-megawatt offshore wind farm located off the coast of southern New Jersey, will drive carbon-free generation in the state. The company will continue to modernize existing networks as well as invest in technologies to increase electrification and energy efficiency. The company recently proposed a $3.5 billion investment in energy efficiency, electric vehicle charging infrastructure, energy storage, and clean energy cloud technologies. All of these efforts and investments are aimed at achieving PSEG’s Powering Progress vision for the future, in which people use less energy, and that energy is cleaner and delivered more reliably than ever.

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Shell

Overview

Shell is a global group of energy and petrochemical companies with over 87,000 employees in more than 70 countries. The international company is an expert in the field of exploration, production, refinement, and marketing of oil and natural gas. Headquartered in the Hague, Netherlands, Shell had revenues of $180.5 billion in 2020.

Sustainability

Shell is committed to achieving net-zero scope 1, scope 2, and scope 3 emissions across its energy business by 2050 with interim targets of 20 percent below a 2016 baseline by 2030 and 45 percent by 2035. In 2020, Shell reduced its greenhouse gas emissions by 20 percent from its peak emissions in 2018. To achieve its goals, the company is increasing the proportion of lower-carbon products, such as natural gas, biofuels, electricity and hydrogen, in the mix of products it sells. Shell expects natural gas to make up at least 55 percent of its portfolio by 2030. Shell is also working with its customers to reduce scope 3 emissions, and the company supports government policies to reduce emissions across all sectors.

Additionally, Shell supports the use of nature-based carbon offsets, and aims to offset around 120 million tons of carbon emissions by 2030 as well as an additional 25 million tons per year via carbon capture and storage by 2035. In addition to a $2-3 billion annual investment commitment in the company’s Renewables and Energy Solutions business, Shell also pledged in 2021 to invest $100 million in forests and wetlands, which serve as natural carbon sinks. Shell seeks to provide access to reliable electricity to 100 million people who do not presently have access to reliable power by 2030.

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Southern Company

Overview

Southern Company is an American electric and gas utility holding company based in the Southern United States. It is headquartered in Atlanta, with executive offices also located in Birmingham, Alabama. The company is currently the second largest utility company in the United States in terms of customer base, serving 9 million customers through its subsidiaries. Southern Company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America, a leading distributed energy infrastructure company, and a fiber optics network and telecommunications services.

Sustainability

Southern Company has set a greenhouse gas (GHG) emissions reduction goal of net zero emissions by 2050. The company also has reaffirmed its intermediate goal of a 50 percent reduction of GHG emissions from 2007 levels by 2030. These are enterprise-wide goals across all electric and gas operations. To achieve its targets, Southern Company plans to continue its shift from coal and utilize natural gas to enable its fleet transition, further grow its portfolio of zero-carbon resources including renewables, invest in negative-carbon solutions such as carbon capture and storage, enhance energy efficiency initiatives, and continue to invest in research and development focused on clean energy technologies, including nuclear and hydrogen.

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Toyota

Overview

Toyota Motor Corporation is an international motor vehicle production and sales company that employs over 366,000 employees worldwide and 137,000 people in the U.S. Globally, Toyota’s net revenues for the fiscal year that ended in March 2020 totaled $274.586 billion.

Sustainability

In 2021, Toyota committed to achieving carbon neutrality at all of its global plants by 2035, accelerating its 2050 goal. The company also has a goal to reach zero carbon dioxide emissions by 2050. In 2020, Toyota reduced its global average carbon dioxide emissions from new vehicles by 20 percent compared to 2013 levels, and has a target to achieve an additional 10 percent reduction by 2025. In addition to new vehicle emissions, the company set a goal to reduce carbon emissions throughout the entire life cycle of its vehicles by at least 18 percent below a 2013 baseline by 2025. Toyota sold 1.92 million hybrid electric vehicles in 2020, achieving its target to sell 1.5 million units annually by 2020 ahead of schedule. Toyota aims to sell at least 5.5 million electrified vehicles annually, or a total of 30 million electric vehicles, by 2030, and is committed to providing electrified options of all of the models in the Toyota and Lexus lineups worldwide by around 2025. The company also sourced 100 percent of its electricity production in Europe from renewable sources in 2019 and seeks to reduce carbon emissions from its global plants by 30 percent compared to 2013 levels by 2025. These reductions will come from a transition renewable energy as well as energy-saving measures.

Beyond these efforts, Toyota seeks to have a net positive environmental impact through a variety of initiatives including minimizing water usage, better managing water discharge locally, implementation of Biodiversity strategies, and promoting the global deployment of end-of-life vehicle treatment and recycling technologies and systems already developed in Japan.

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Wells Fargo & Company

Overview

Wells Fargo & Company is a multinational financial services company that serves one in three U.S. households and more than 10 percent of all middle-market companies and small businesses in the United States. The company provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance services. Wells Fargo has approximately $1.9 trillion in assets and employs over 230,000 people in the United States. In the communities it serves, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.

Sustainability

In 2021, Wells Fargo announced a goal to achieve net-zero carbon emissions by 2050, including emissions attributable to its financing across portfolios. In the first phase of the company’s strategy, it plans to measure and disclose its financed emissions for certain carbon-intensive sectors and set interim reduction targets for those sectors by the end of 2022.

Its newly created Institute for Sustainable Finance supports the deployment of $500 billion in sustainable finance between 2021 and 2030, works across the enterprise to support clients, funds scientific and technology research that will help its clients measure and set targets to reduce their own emissions, and advocates for public policies that advance the low-carbon transition in alignment with the U.S. meeting the goals of the Paris Agreement.

Wells Fargo has been meeting 100 percent of its global electricity requirements with renewable energy since 2017 and has achieved carbon neutrality in its operations for both scope 1 and scope 2 emissions since 2019.

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