Constellation Advances Climate Goal With Effort to Help Large Business Customers Cut Their Carbon Footprints

Rhea-AI Summary

Constellation, the largest producer of carbon-free energy in the U.S., is launching customized carbon emissions reports for all commercial and industrial clients. This initiative is part of their 100/100/100 climate pledge, aiming for 95% carbon-free electricity by 2030 and 100% by 2040. The reports will detail customers' emissions and offer insights on reducing carbon footprints. With 60% of Fortune 500 companies pursuing climate goals, this move aligns with growing corporate and governmental focus on sustainability. Reports will be distributed to clients, including three-fourths of the Fortune 100, by the end of 2022.

Positive

• Launch of customized carbon emissions reports for all commercial and industrial customers.
• Part of the 100/100/100 climate pledge aimed at achieving 95% carbon-free electricity by 2030 and 100% by 2040.
• Supports clients in understanding and reducing their carbon emissions impact.
• Aligns with the climate goals of 60% of Fortune 500 companies and local governments.

Negative

• None.

Rollout of customized carbon emissions reports to all commercial and industrial customers is one of Constellation’s industry-leading climate goals

BALTIMORE--(BUSINESS WIRE)-- Constellation, the nation’s largest producer of carbon-free energy and a leading supplier of energy products and services, announced today that it is delivering on its commitment to provide 100 percent of its commercial and industrial customers with customized data to help them measure and reduce their carbon emissions impact.

The customer reports are part of Constellation’s industry-leading 100/100/100 climate pledge, which includes:

• Achieving 95 percent carbon-free electricity by 2030, and 100 percent by 2040
• Achieving a 100 percent reduction of operations-driven emissions by 2040
• Providing 100 percent of business customers with customized data to help them reduce their own carbon footprints.

Constellation currently produces 10 percent of all clean energy on the grid in the U.S. with its zero-carbon fleet of nuclear, solar, wind and hydro power plants.

“It’s not enough that we eliminate emissions from Constellation’s business – we need to help our customers do the same if we are going to truly lead the transition to clean energy,” said Jim McHugh, chief commercial officer, Constellation. “A pivotal step for businesses in this journey is helping them better understand their energy consumption and resulting carbon emissions. These customized reports will serve as an invaluable tool to educate our customers and urge them to take additional actions to reduce the carbon impact of their operations.”

The reports (see sample) will feature customer-specific information on Scope 1 and Scope 2 emissions for facilities receiving power and/or gas supply from Constellation.

To make it easier for customers to visualize and understand their climate impact, the reports compare the number of miles an average passenger vehicle would have to travel to equal the customer’s carbon emissions. The reports will also highlight ways customers can transition to clean energy, reduce their carbon footprint and become more sustainable.

The reports are being introduced at a time when business leaders and local governments are increasingly focused on doing their part to combat climate change. About 60 percent of Fortune 500 companies, 600 local governments and 25 states have already announced climate and energy goals or action plans. The federal government also plans to procure 100 percent carbon-free electricity by 2030 on a net annual basis, with 50 percent carbon-free on a 24/7 basis.

Constellation will begin distributing the reports in late August, with all of its commercial and industrial customers – including three-fourths of the Fortune 100 – expected to receive their customized reports by the end of 2022.

Among its other climate initiatives, Constellation has partnered with Microsoft on the development of a 24/7/365 carbon-free energy matching technology that will help customers achieve true zero emissions, as opposed to the current practice of annualizing renewable energy certificates and credits. The product will match a customer’s energy needs with local, carbon-free energy sources on an hour-by-hour basis.

About Constellation
Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to millions of homes, institutional customers, the public sector, community aggregations and businesses, including three fourths of Fortune 100 companies. A Fortune 200 company headquartered in Baltimore, our fleet of nuclear, hydro, wind and solar facilities have the generating capacity to power approximately 20 million homes, providing 10 percent of all carbon-free energy on the grid in the U.S. Our fleet is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is nearly 90 percent carbon-free. We have set a goal to achieve 100 percent carbon-free power generation by 2040 by leveraging innovative technology and enhancing our diverse mix of hydro, wind and solar resources paired with the nation’s largest nuclear fleet. Follow Constellation on Twitter @ConstellationEG.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220727005212/en/

Dave Snyder

Constellation

410-470-9700

david.snyder@constellation.com

Source: Constellation

FAQ

What is Constellation's new initiative for commercial and industrial customers?

Constellation is launching customized carbon emissions reports to help commercial and industrial customers measure and reduce their carbon emissions.

What are Constellation's climate goals?

Constellation aims for 95% carbon-free electricity by 2030, 100% by 2040, and a 100% reduction in operations-driven emissions by 2040.

When will customers receive the customized carbon emissions reports?

The reports will begin distribution in late August, with all commercial and industrial customers expected to receive them by the end of 2022.

How does Constellation help clients understand their carbon emissions?

The reports include customer-specific emissions data and compare it to the miles traveled by an average passenger vehicle.

How many Fortune 100 companies are expected to receive these reports?

Three-fourths of Fortune 100 companies are expected to receive the customized reports.