New Environmental, Social and Governance Report Highlights Exelon’s Efforts to Create a Cleaner, Brighter Energy Future

Rhea-AI Summary

Exelon released its Environmental, Social and Governance (ESG) Report, emphasizing its commitment to corporate social responsibility and transparency. The report showcases Exelon's leadership as the largest producer of carbon-free energy and its advocacy for emissions reduction policies. Highlights include a $20 million investment in climate technologies, significant savings for customers through energy efficiency programs, and extensive community support with over $51 million in contributions. The report also underscores its diverse workforce and board and outlines initiatives aimed at fostering equity and sustainability.

Positive

• Largest producer of carbon-free energy in the nation.
• Investing $20 million in climate change technology.
• Helped utility customers save over 22.3 million megawatt-hours through energy efficiency programs.
• Electrification targets for utility vehicle fleet - 30% by 2025 and 50% by 2030.
• Sponsoring over 45 workforce development programs to combat economic inequities.
• More than $51 million in charitable contributions and significant volunteer hours.

Negative

• None.

Exelon today announced the release of its Environmental, Social and Governance Report (ESG) for investors as part of the company’s ongoing commitment to transparency on its corporate social responsibility strategy and performance. The report highlights Exelon’s efforts to address the climate crisis and build a cleaner, more resilient energy grid; foster diversity, equity and inclusion both within the company and externally; conduct its business ethically and in compliance with governance best practices; and create economic opportunity and empower customers and communities through educational programs, support for nonprofits and workforce development programs, among other things. This investor report complements the Exelon Corporate Sustainability Report, issued annually since 2002.

“These values have been at the core of our business since our company’s founding, when we launched a strategy to build the nation’s cleanest power generation fleet, create a workforce that reflects our communities, operate responsibly and transparently, and partner with the organizations working to make a more equitable and just world,” said Chris Crane, president and CEO of Exelon. “We have always been committed to doing what is right for our employees, customers and communities, and this report helps us track our progress and hold ourselves accountable.”

The report outlines Exelon’s record as the nation’s largest producer of carbon-free energy and its strong advocacy for state and federal energy policies that eliminate emissions from the energy sector. The report also notes the company’s recognition as a top employer for diversity by Human Rights Campaign, Diversity Inc. and Forbes Magazine, and details its strong governance structure, including the implementation of four new ethics policies that expand oversight over the company’s interactions with public officials. The report also highlights that Exelon:

• Is driving a zero-carbon transition through its $20 million Climate Change Investment Initiative (2c2i^SM) targeting investments in emerging electrification, storage, and energy capture technologies
• Helped utility customers save more than 22.3 million megawatt-hours of electricity through its energy efficiency programs
• Working to electrify 30 percent of its utility vehicle fleet (light and heavy-duty) by 2025 and 50% by 2030
• Sponsors more than 45 workforce development programs to address economic inequities in our communities
• Gave more than $51 million in charitable contributions and nearly 251,000 employee volunteer hours in 2019
• Implemented an effective COVID-19 response, including additional safeguards and benefits for employees, temporary late fee and disconnection moratoriums and financial assistance programs for customers and $7.9 million of charitable donations in our communities
• Has a gender and racially diverse board of directors that is made up of 92 percent independent directors
• Has an Executive Committee that is 50 percent women or people of color

Exelon’s 2020 ESG report will be updated concurrent with the release of the company’s Corporate Sustainability Report, issued annually in the second quarter of the year.

Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia, and Canada and had 2019 revenue of $34 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey, and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector, and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210203005616/en/

FAQ

What is Exelon's commitment in its 2020 ESG report?

Exelon's 2020 ESG report emphasizes transparency and accountability in corporate social responsibility, focusing on sustainability efforts and community support.

How much does Exelon invest in climate change technologies?

Exelon is investing $20 million in its Climate Change Investment Initiative, targeting emerging energy solutions.

What are Exelon's energy efficiency accomplishments?

Exelon has helped its utility customers save more than 22.3 million megawatt-hours through energy efficiency programs.

How does Exelon support workforce development?

Exelon sponsors over 45 workforce development programs aimed at addressing economic inequities in its communities.

What is Exelon's goal for its utility vehicle fleet electrification?

Exelon aims to electrify 30% of its utility vehicle fleet by 2025 and 50% by 2030.