Itron’s 2021 Environmental Social Governance Report Highlights Industry Need for Efficient Management of Energy and Water for Future Generations

Rhea-AI Summary

Itron, Inc. (NASDAQ: ITRI) has released its 2021 Environmental Social Governance (ESG) Report, highlighting its commitment to sustainability through innovative solutions for energy and water management. Key goals include a 50% reduction in greenhouse gas emissions by 2028, achieving carbon-neutral operations by 2035, and net zero by 2050. Itron's automated metering infrastructure has already helped avoid over 3.5 million metric tons of greenhouse gas emissions. The report emphasizes Itron's dedication to environmental stewardship, community involvement, and advancing inclusion within the company.

Positive

• Set a target for 50% reduction in Scope 1 and Scope 2 greenhouse gas emissions by 2028.
• Achieved significant impact through AMI solutions, helping to avoid over 3.5 million metric tons of greenhouse gas emissions.
• Pledged commitment to carbon-neutral operations by 2035 and net zero by 2050.

Negative

• None.

Through Increased Commitments to Reduce Emissions and Industry Innovation for Sustainability, Itron Advances Progress Toward UN Sustainable Development Goals to Build a More Resourceful World

LIBERTY LAKE, Wash.--(BUSINESS WIRE)-- Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, today released its 2021 Environmental Social Governance (ESG) Report, highlighting its commitment to long-term sustainability through advanced initiatives which increase efficiency and reduce carbon emissions. Through its advanced technology solutions and partnership with utilities, Itron is enhancing efficient management of energy and water as well as educating consumers on how to take an active role in managing resource use.

As part of Itron’s ESG strategy, the company has set aggressive objectives and enterprise initiatives that align efforts with the United Nation (U.N.) Sustainable Development Goals including:

• Fifty percent reduction in Scope 1 and Scope 2 greenhouse gas emissions by 2028 (over the 2019 baseline)
• Carbon-neutral operations by 2035
• Net zero by 2050 or sooner
• Committed to join the Science-Based Target Initiative with alignment to the 1.5 degrees Celsius standard
• Pledge to assist and enhance consumers and utilities to improve their sustainability through advanced solutions and services. In 2021 alone, Itron estimates that its electricity automated metering infrastructure (AMI) solutions across more than 64 million endpoints helped customers in the U.S. and Canada cumulatively avoid over 3.5 million metric tons of greenhouse gas emissions

These goals align with Itron’s redefined carbon model and improvement of reporting methodology. The quantifiable targets and shift to location-based emissions reporting for all Scope 1 and Scope 2 greenhouse gas metrics will drive Itron toward its net zero goal by 2050. The report also includes optional reporting for Scope 3 emissions, which continue to be refined and evaluated as a part of our overall carbon model.

“We are facing a critical time in history where today’s decisions on how we conserve and manage our energy and water resources will shape the lives of future generations,” said Tom Deitrich, Itron’s president and CEO. “Itron continues to build sustainability and ESG initiatives into every aspect of our operations and push the industry to do so as well by offering innovative solutions for utilities and their customers and working with our employees to unlock their resourcefulness. Our efforts are aligned with the U.N. Sustainable Development Goals, and as a participant of the U.N. Global Compact, we adhere to its principles-based approach to responsible business practice and further Itron’s vision to create a more resourceful world.”

Itron’s ESG strategy focuses on four key pillars to advance efficient management of energy and water. The 2021 ESG report highlights the efforts related to:

• Environmental and Operational Stewardship – Itron realigned its organization to be more agile and responsive to the market, economic and environmental changes. To address supply chain disruptions, Itron launched 12 related initiatives to secure materials, meet customer demand and streamline its supplier ecosystem in an environmentally friendly manner.

• Solution Impact and Community Involvement – Itron’s AMI not only reduces the number of truck rolls for utilities and those CO2 emissions, but also gives consumers the power to manage their energy use which leads to per-customer reductions that are 20 to 40 times more effective at reducing CO2 emissions than truck rolls alone.

• Inclusion and Human Capital Pledge – Itron’s investment in its employees is shown through the newly established I&D Center of Excellence to drive inclusion and diversity initiatives, the launching of leadership and development programs, wellness initiatives and expanded assistance programs.

• Shareholder Advocacy – Itron leadership advanced its commitment to keep sustainability at the center of all aspects of business operations through continuous oversight and improvement.

The 2021 ESG report can be downloaded at www.itron.com/esg.

About Itron

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.

Itron^® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220607005537/en/

Itron, Inc.

Alison Mallahan

Senior Manager, Corporate Communications

509-891-3802

PR@Itron.com

Source: Itron, Inc.

FAQ

What are Itron's greenhouse gas emission reduction goals?

Itron aims for a 50% reduction in Scope 1 and Scope 2 emissions by 2028, carbon-neutral operations by 2035, and net zero by 2050.

How does Itron's ESG report affect its stock performance?

The ESG report highlights Itron's commitment to sustainability, which may positively influence investor sentiment and long-term stock performance.

What initiatives does Itron have for sustainability?

Itron's initiatives include advanced technology for energy/water management, community involvement, and promoting employee inclusivity.

How much greenhouse gas emissions has Itron's AMI solutions helped avoid?

Itron's AMI solutions have helped avoid over 3.5 million metric tons of greenhouse gas emissions.