Strengthening Community Resilience: Duke Energy Foundation Tops $19.5 Million in Disaster Readiness and Recovery Investments

Rhea-AI Summary

The Duke Energy Foundation has invested over $19.5 million in emergency preparedness and response efforts across six states over the past five years. This funding aims to boost community safety and resilience through collaborative efforts with local leaders and nonprofits. The Foundation's approach includes providing advanced tools, customized training, and life-saving equipment to first responders.

Duke Energy volunteers have also contributed significantly, packing thousands of no-cost storm kits for seniors and donating $3.3 million in money and volunteer time. The funding has delivered immediate relief during crises and equipped first responders with essential tools. For example, a grant-funded drone recently helped locate a missing man in South Carolina.

As the 2024 storm season continues through November, Duke Energy and its Foundation remain prepared to support communities. Customers are encouraged to download the enhanced American Red Cross Emergency app for additional preparedness measures.

Positive

• Duke Energy Foundation invested $19.5 million in emergency preparedness across six states
• Duke Energy employees contributed $3.3 million in money and volunteer time
• Grant-funded drone successfully helped locate a missing person in South Carolina
• Foundation's approach includes providing advanced tools and training to first responders

Negative

• None.

Insights

Corporate Social Responsibility Analyst

Duke Energy Foundation's $19.5 million investment in disaster preparedness over five years demonstrates a significant commitment to community resilience. This proactive approach aligns with best practices in corporate social responsibility (CSR) and can positively impact Duke Energy's reputation and stakeholder relationships.

The foundation's collaborative strategy, working with local organizations, enhances the effectiveness of these investments. By providing advanced tools and training to first responders, the company is contributing to tangible improvements in emergency response capabilities, as evidenced by the drone-assisted rescue in South Carolina.

From an investor perspective, this long-term investment in community infrastructure can mitigate potential risks associated with natural disasters in Duke Energy's service areas. It may lead to faster recovery times and reduced service interruptions following severe weather events, potentially protecting revenue streams and reducing recovery costs.

While this news is positive for Duke Energy's ESG profile, it's important to note that the $19.5 million investment over five years is relatively modest compared to the company's $89.4 billion market cap. Investors should consider this as part of a broader CSR strategy rather than a significant financial impact on the company's bottom line.

• Advanced tools, customized training and life-saving equipment boost community safety and resiliency during ongoing storm season and beyond

CHARLOTTE, NC / ACCESSWIRE / September 30, 2024 / Just as Duke Energy makes extensive preparations ahead of severe weather and other emergencies, Duke Energy Foundation is committed to helping ensure its communities are well prepared before disaster strikes.

During the past five years, Duke Energy Foundation has invested over $19.5 million in emergency preparedness and response efforts across North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Foundation's approach is collaborative, working closely with local leaders and nonprofits to understand and address specific needs to boost community safety and resiliency.

"By supporting local organizations on the front lines of disaster preparation and response, we help build community infrastructure and readiness to respond to a myriad of emergencies," said Amy Strecker, president, Duke Energy Foundation. "We're committed to standing with our communities every step of the way - from proactive planning to response and recovery."

Duke Energy volunteers also joined in the preparations, packing thousands of no-cost storm kits for seniors and contributing $3.3 million of their own money and volunteer time in the same five-year window. "Our employees love getting in on the action of helping our communities," said Loretta Murray, manager, Duke Energy Foundation and volunteer champion. "I know the fear and devastation that a hurricane can bring. I've lived through it. Now I get to do something about it. It does me proud."

Funding from Duke Energy Foundation has delivered immediate relief in times of crisis and equipped first responders with advanced tools, customized training and life-saving equipment to boost community safety and resilience. Earlier this year, a grant-funded drone helped locate a missing South Carolina man.

"The grant from the Duke Energy Foundation enabled us to bring in top-of-the-line drones and equipment," said Gus Ballard, manager of drone operations at Spartanburg County Emergency Services. "Since then, our performance has steadily improved thanks to the advanced capabilities and reliability of the equipment. This impacts not only our operations within the county, but throughout South Carolina and surrounding states where we assist other agencies."

As the 2024 storm season continues through November, Duke Energy and its Foundation stand ready to respond and support its communities. Additionally, customers are encouraged to download the enhanced American Red Cross Emergency app.

Duke Energy Foundation

Duke Energy Foundation provides more than $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation is funded by Duke Energy shareholders.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

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SOURCE: Duke Energy

View the original press release on accesswire.com

FAQ

How much has Duke Energy Foundation (DUK) invested in disaster readiness over the past five years?

Duke Energy Foundation has invested over $19.5 million in emergency preparedness and response efforts across six states over the past five years.

What states has Duke Energy Foundation (DUK) supported with disaster readiness investments?

Duke Energy Foundation has supported disaster readiness efforts in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.

How have Duke Energy (DUK) employees contributed to disaster preparedness efforts?

Duke Energy employees have packed thousands of no-cost storm kits for seniors and contributed $3.3 million of their own money and volunteer time over the past five years.

What specific equipment has Duke Energy Foundation (DUK) funded for emergency response?

Duke Energy Foundation has funded advanced tools, customized training, and life-saving equipment for first responders, including drones used in search and rescue operations.