Southern Company’s Management Council Addresses a New Energy Future

Rhea-AI Summary

Southern Company has unveiled its commitment to meet the evolving energy needs of customers and stakeholders. Key initiatives include substantial investments in electric and natural gas infrastructure aimed at maintaining reliable service. The company plans to enhance its lower-carbon generating fleet by integrating renewable resources and retiring uneconomic coal plants, aligning with its net zero greenhouse gas emissions goal by 2050. Southern Company emphasizes workforce sustainability and community engagement while promoting diverse representation. The report serves as a roadmap for stakeholders to understand the company’s strategic alignment with corporate responsibility.

Positive

• Investment in electric and natural gas infrastructure for better service.
• Commitment to a lower-carbon generating fleet and retiring uneconomic coal units.
• Alignment with net zero greenhouse gas emissions goal by 2050.
• Focus on workforce sustainability to enhance skill and safety.
• Engagement with historically underrepresented groups within the organization.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / February 2, 2023 / Southern Company:

Originally published in Southern Company's 2021 Corporate Responsibility Executive Summary Report

For more than a century Southern Company has focused on providing reliable energy to its customers. As our business has grown, we continue to place customers at the center of all we do. Today, customers, communities and a wide array of stakeholders are relying on us to provide clean, safe, reliable and affordable energy. We are committed to meeting these needs.

A new energy future is upon us. Technology advancements, changes in fuel supply and demand, geopolitical dynamics and evolving customer preferences are leading to a future reliant on a diverse range of energy sources. In addition, advancing workforce sustainability, promoting diverse viewpoints, supporting our communities and engaging with our stakeholders require continued agility and appropriate oversight at all levels of the company, including by the Board of Directors.

In the coming years, customers and stakeholders of Southern Company can expect:

• Continued investment in our electric and natural gas infrastructure to help ensure affordable, best-inclass service.
• A lower-carbon generating fleet facilitated by the addition of renewable resources, nuclear capacity and gas-fired generation as well as the retirement of uneconomic coal-fired generating units - all aligned with our long-term goal to reach net zero greenhouse gas (GHG) emissions by 2050.
• Natural gas businesses that continue to drive down methane and other GHG emissions from operations and seek opportunities to leverage existing infrastructure for new, lower-carbon sources of gas.
• Continued leadership within the U.S. utility sector in the development, funding and demonstration of innovative research necessary to provide clean, safe, reliable and affordable energy and meet our net zero goal.
• A focus on workforce sustainability, aiming to ensure we have the right people with the right skills who are trained to perform their jobs safely and ethically to meet current and future business requirements.
• Consistent work toward our goal of ensuring all groups, and especially historically underrepresented and marginalized groups, are well represented, included and fairly treated within all levels of our organization and in our communities.
• An enduring commitment to make our communities better because we are there through a focus on outreach and engagement, support of education initiatives and partnerships to foster economic development.
• Continued emphasis on consistent dialogue with all our stakeholders, including customers, stockholders, employees, policymakers and members of the communities that we serve.

At Southern Company, we have long believed corporate responsibility and corporate strategy are inextricably linked. Effectively aligning our corporate strategy with our commitments to stakeholders requires the attention of our entire leadership team, as well as the Board of Directors. This report describes our endeavors and serves as a roadmap for stakeholders wishing to learn more. We look forward to engaging with you on these important issues.

Southern Company Management Council

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[2] Annual energy mix represents all of the energy the Southern Company system uses to serve its retail and wholesale customers during the year. It is not meant to represent delivered energy mix to any particular retail customer or class of customers. Annual energy mix percentages include non-affiliate power purchase agreements.

Renewables/Other category includes wind, solar, hydro, biomass and landfill gas.

With respect to certain renewable generation and associated renewable energy credits (RECs), to the extent an affiliate of Southern has the right to the RECs associated with renewable energy it generates or purchases, it retains the right to sell the energy and RECs, either bundled or separately, to retail customers and third parties.

View additional multimedia and more ESG storytelling from Southern Company on 3blmedia.com.

Contact Info:

Spokesperson: Southern Company
Website: https://www.3blmedia.com/profiles/southern-company
Email: info@3blmedia.com

SOURCE: Southern Company

View source version on accesswire.com:
https://www.accesswire.com/737901/Southern-Companys-Management-Council-Addresses-a-New-Energy-Future

FAQ

What is Southern Company's commitment to renewable energy as of February 2023?

Southern Company is focused on enhancing its lower-carbon generating fleet and integrating renewable resources, with a goal of achieving net zero greenhouse gas emissions by 2050.

How is Southern Company addressing workforce sustainability?

Southern Company aims to ensure its workforce is well-trained and capable of meeting current and future business requirements.

What investments is Southern Company making in energy infrastructure?

The company is investing in electric and natural gas infrastructure to provide reliable and affordable energy services.

What initiatives are Southern Company taking to improve community engagement?

Southern Company is committed to outreach and engagement efforts, supporting education initiatives and fostering economic development in its communities.

When was Southern Company's Corporate Responsibility Executive Summary published?

The Corporate Responsibility Executive Summary was published on February 2, 2023.