CenterPoint Energy issues 2020 Corporate Responsibility Report and 2019 GRI Index

Rhea-AI Summary

CenterPoint Energy, Inc. (NYSE: CNP) released its 2020 Corporate Responsibility Report, titled We Deliver Responsibility, emphasizing its commitments in environmental, social, and governance (ESG) practices. Key highlights include a goal to cut operational emissions by 70% by 2035 and a 20-30% reduction in emissions from natural gas usage by 2040. The company also contributed $1.5 million to COVID-19 relief efforts and established a Diversity and Inclusion Council. The report follows the GRI framework and includes sustainability standards disclosures.

Positive

• Set operational emissions reduction target of 70% by 2035.
• Target of 20-30% reduction in emissions from natural gas usage by 2040.
• Contributed $1.5 million to COVID-19 relief efforts.
• Established a Diversity and Inclusion Council to enhance governance.

Negative

• Potential risks due to COVID-19 impacts on operations.
• Risks associated with regulatory and legislative changes.

HOUSTON, Nov. 4, 2020 /PRNewswire/ -- CenterPoint Energy, Inc. (NYSE: CNP) today announced the release of its 2020 Corporate Responsibility Report, We Deliver Responsibility, which focuses on the company's environmental, social and governance (ESG) commitments. The report discusses how CenterPoint Energy engages with stakeholders, approaches leadership and governance, builds strong communities, delivers reliable electricity and natural gas and invests in a clean energy future.

"CenterPoint Energy strives to honor our commitments to safely and reliably deliver essential energy needs to our communities in a sustainable manner," said Angila Retherford, Vice President, Environmental and Corporate Responsibility. "The first combined sustainability report and GRI Index published since the company merged with Vectren in 2019 explains how we deliver on responsibility through our commitment to leadership, sustainability, safety and inclusion."

The company is building on ESG commitments, as reflected by the following highlights:

• Environmental: Through CenterPoint Energy's new carbon policy, the company's goal is to reduce operational emissions by 70% by 2035 and emissions attributable to natural gas usage in heating appliances and equipment within the residential and commercial sectors by 20-30% by 2040. These reduction goals are based on 2005 emission levels.
• Social: The company responded immediately to COVID-19, implementing enhanced safety protocols and providing personal protective equipment for employees to guard the health of employees and customers when necessary to enter customers' residences or facilities. The essential services of electricity and natural gas continued for customers as demonstrated by an extremely dedicated workforce. The CenterPoint Energy Foundation contributed $1.5 million to nonprofit organizations, agencies and causes committed to supporting those disproportionately impacted by COVID-19.
• Governance: CenterPoint Energy is focusing on sustainable, long-term actions that build on its diversity and inclusion vision and position. The company established a Diversity and Inclusion Council that provides governance and oversight on diversity and inclusion efforts and drives companywide communication. CenterPoint Energy is committed to advancing diversity and inclusion to support colleagues, customers, contractors, suppliers and community members, regardless of race, gender, color, sexual orientation, age, religion, or physical or mental disability, so they have an equal opportunity to thrive.

The report follows the Global Reporting Initiative (GRI) framework and has been prepared in accordance with the GRI Standards: Core option. The associated 2019 GRI Index is available at www.CenterPointEnergy.com/Responsibility.

The company has also disclosed information using the Sustainability Accounting Standards Board (SASB) standards and incorporated both the American Gas Association's (AGA) and Edison Electric Institute's (EEI) Version 2 ESG template into its annual sustainability reporting activities.

Forward Looking Statement

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as carbon emissions reduction goals and diversity and inclusion initiatives, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

About CenterPoint Energy

As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of June 30, 2020, the company owned approximately $32 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.

For more information, visit CenterPointEnergy.com. For additional updates, follow CenterPoint Energy on Facebook and Twitter.

For more information, contact
Media: Natalie Hedde, Phone  812.491.5105
Investors: David Mordy, Phone  713.207.6500

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SOURCE CenterPoint Energy, Inc.

FAQ

What are the key highlights of CenterPoint Energy's 2020 Corporate Responsibility Report?

The report highlights a 70% reduction target in operational emissions by 2035 and a 20-30% reduction in emissions from natural gas usage by 2040, along with a $1.5 million contribution to COVID-19 relief.

How is CenterPoint Energy addressing diversity and inclusion?

CenterPoint Energy established a Diversity and Inclusion Council to oversee and enhance its diversity and inclusion efforts.

What sustainability standards does CenterPoint Energy follow?

CenterPoint Energy's report adheres to the Global Reporting Initiative (GRI) framework and incorporates Sustainability Accounting Standards Board (SASB) standards.

When was CenterPoint Energy's 2020 Corporate Responsibility Report released?

The report was released on November 4, 2020.