Entergy Corp. has released a new climate report details the utility giant’s new strategies for reducing emissions and targeting new investments around those environmental goals.
The New Orleans-based utility, with units in Louisiana, Mississippi, Texas and Arkansas, plans to cut its carbon emissions related to electricity output 50 percent below 2000 levels within 11 years. Entergy has recently announced several gas-fired and clean energy projects to replace coal-burning plants that are being retired.
“In 2001, Entergy led the industry by becoming the first U.S. utility to voluntarily limit carbon dioxide emissions. Today, we have the opportunity to do more,” said Leo Denault, Entergy’s chairman of the board and CEO. “This renewed commitment to the environment not only delivers clean energy solutions for our customers, it creates long-term, sustainable value for all our stakeholders.”
The report follows recommendations of the Task Force on Climate-Related Financial Disclosures. Report highlights include:
- Historic Leadership and a New 2030 Goal – Entergy is building on its nearly 20-year history of environmental stewardship with its new goal of reducing by 2030 its emission intensity by half the level it was in 2000.
- Climate Strategy – Entergy has a long history of evaluation, disclosure and action related to climate change. The report outlines and describes the company’s overall environmental and climate strategy.
- Partnerships for Decarbonization – The company is developing new ways to partner with customers to help them save money, use energy more efficiently and meet their sustainability and environmental goals.
- Scenario Analysis – A detailed analysis of several potential carbon abatement scenarios through 2030 is provided.
- Guiding Principles for Climate Policy – Entergy continues to believe that an economy-wide price on carbon is the most efficient and pragmatic path forward for federal climate policy.
- Investments in Clean Generation – The company is investing billions of dollars in capital over the next three years in modern, efficient natural gas and renewable generation assets while ensuring the long-term value of Entergy’s nuclear power generation through technology upgrades and other improvements.
- Grid Modernization, Electrification and Energy Efficiency – Entergy is investing billions of dollars over the next five years in grid modernization and transmission and distribution infrastructure to improve resiliency and efficiency. The company is developing new ways to partner with customers to help reduce their own emissions by electrifying their energy needs and operations, reducing equipment operation and maintenance costs, and improving energy efficiency.
- Governance and Risk Management – Longstanding, robust governance structures and risk management processes effectively address climate risks and opportunities.
- Engagement and Transparency – Entergy is informing and engaging stakeholders on the company’s current and ongoing efforts to manage climate risk and evaluate future opportunities.
- Continuous Improvement – With continued planning and stress-testing of potential investments, Entergy can lead the regional transition to a low-carbon economy.
Entergy ranks sixth among the nation’s utility companies in terms of overall MWh produced, according to the Benchmarking Air Emissions report by M.J. Bradley & Associates. It ranks fifth for the total of zero-carbon generation.
The Bradley report also ranked Entergy in the top quarter of utilities for lowest carbon output.
To read Entergy’s Climate Report and Scenario Analysis, visit entergy.com/ClimateReport.