NRG 2021 Sustainability Report – Sustainability Strategy
NRG 2021 Sustainability Report – 2021 saw more advancements made possible by cooperation and ingenuity. When you consider that this is our tenth sustainability report, you can only be humbled by the progress we’ve made.
We are still dedicated to being open and honest about our sustainability approach, governance, plans, and development. We adhere to the most commonly established standards and make an effort to give our investors information that is clear, comparable, and useful for making decisions. This year, we:
Our initial Task Force on Climate-related Financial Disclosures (TCFD) report was published.
Sixth-year reporting of Sustainability Accounting Standards Board (SASB) metrics
Annual Equal Employment Opportunity (EEO)-1 reports have been published.
Added a first-ever report on the climate viewpoints of our declared membership organizations to our annual public policy and political contributions disclosure.
Made a data file using the figures from this report and four years’ worth of historical data.
Compiled a list of “Further Reading,” highlighting the numerous more NRG publications on sustainability-related subjects to help readers who want to learn more about a specific issue.
NRG 2021 Sustainability Report
We made more progress on the climate. Our targets, to attain net zero emissions by 2050 and reduce carbon dioxide equivalent emissions by 50% by 2025 from our current 2014 baseline, were recognized by the Science Based Targets initiative as being consistent with keeping global warming to 1.5 degrees Celsius. We reduced our CO2e emissions by 27 million metric tonnes, or by 44 percent, between 2014 and 2021. This is equivalent to avoiding 68 billion miles of travel by an average passenger vehicle, and we are still on track to meet our 2025 goal. We increased our aspiration by adding the target of electrifying all of our light-duty vehicle fleet by 2030. Finally, by issuing a subsequent batch of sustainability-linked bonds, we improved the alignment between our financing and sustainability initiatives.
Beyond our internal sustainability initiatives, we kept assisting our clients in achieving their own sustainability objectives. We bought Direct Energy at the beginning of 2021, expanding our customer base to approximately 6 million residential and commercial clients across North America. Our portfolio today includes a sizeable natural gas company in addition to our historical strength in electricity, as well as a number of energy services.
Here are some of our environmentally friendly goods and services:
Residential: tailored for particular requirements such electric vehicle charging, integration with rooftop solar and storage systems, and community solar; currently, our leading brands provide close to 50 subscription alternatives.
Agreements for the purchase of renewable and virtual power
Customers can make up for their use of natural gas, gasoline, and fossil-fired electricity by purchasing certified carbon offsets and renewable electricity credits for their homes and businesses.
Solutions for energy backup and resiliency in the home and workplace
Time-of-use plans and demand response programmes, which reward customers for using less electricity and so cut power system emissions, are examples of demand-side solutions for homes and businesses.
Services including consulting, design, and installation assistance for residential rooftop solar and storage systems as well as customized options for businesses’ electricity and natural gas supply are provided through sustainability concierge and advisory services.
Our method of guiding the low-carbon transition is innovation in sustainable products and services, which is a key component of our plan to give customers more control over the energy they consume—not just its source and type, but also when and how. Being a part of the transition to greener energy and seeing this change take place in real time are exciting.