Duke Energy named one of the 'World's Most Admired Companies' for sixth consecutive year

CHARLOTTE, N.C., Feb. 2, 2023 /PRNewswire/ -- After a year where the company made outstanding progress executing its strategy, strengthening its clean energy commitments, and responding effectively to the urgency of external events, Duke Energy (NYSE: DUK) has been named one of the World's Most Admired Companies by Fortune Magazine for the sixth year in a row. Duke Energy moved up four spots and was ranked 4^th among gas and electric utilities.

"This recognition reflects the dedication of over 27,000 employees who execute on our strategy every day to provide clean, reliable, and affordable energy for our customers," said Lynn Good, Duke Energy chair, president and CEO. "We're leading the industry's most ambitious clean energy transformation and continuing to make progress on our mission."

In determining the industry rankings, executives, directors and industry analysts are independently surveyed and companies are rated on nine attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products/services and global competitiveness.

Recent company performance highlights

• Expanding emissions goals – Established new interim carbon emissions reduction targets of 80% for Scope 1 emissions by 2040 and 50% for Scope 2 and 3 (upstream and downstream emissions) by 2035. The company had previously set a net zero by 2050 target for Scope 1 and certain Scope 2 and 3 emissions. Currently, 95% of the company's greenhouse gas emissions are now tied to a measurable net-zero goal.
• Investing in renewables – By 2035, the company anticipates 30,000 megawatts of regulated renewables on its system, which is more than five times what the company currently operates today.
• Transitioning to cleaner energy – Accelerated coal retirements, targeting energy generated from coal to represent less than 5% of total generation by 2030 and planning a full exit from coal by 2035, subject to regulatory approval.
• Powering communities – Supported its communities with more than $49 million in charitable giving in 2021. In addition, the company's employees and alumni volunteered more than 98,000 hours with nonprofits in local communities.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 7.9 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 51,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,500 people.

Duke Energy is executing an aggressive clean energy strategy to create a smarter energy future for its customers and communities – with goals of at least a 50 percent carbon reduction by 2030 and net-zero carbon emissions by 2050. The company is a top U.S. renewable energy provider, on track to own or purchase 16,000 megawatts of renewable energy capacity by 2025. The company also is investing in major electric grid upgrades and expanded battery storage, and exploring zero-emitting power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune's 2022 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

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SOURCE Duke Energy