SOURCE: NRG EnergyDESCRIPTION:by Mauricio Gutierrez Read the full report at: www.nrg.com/sustainability
At NRG, our comprehensive sustainability framework provides a solid foundation for operating our business at the highest standard. We believe that building a more sustainable business creates a stronger company and greater value for all our stakeholders. And as a stronger company, we are well-positioned to lead the way in redefining what power can be.
In 2018, we achieved outstanding financial and operational performance, meeting the goals we set forth in our multi-year transformation plan, while focusing on our employees, customers, and communities. As we transform our company, our people power what is possible. With their robust industry expertise, market intelligence, creativity, get-it-done mentality, and spirit of philanthropy, they are moving us toward a more sustainable energy future.
Throughout our transformation, our commitment to environmental stewardship and transparency has accelerated. We have reduced our carbon emissions 37% since 2014 while creating tremendous business value. We are nearly three quarters of the way to achieving our science-based 2030 goal, which we expect to meet years early. I am also proud to say that for the 2018 reporting year, we reached CDP’s Climate Leadership level for the first time in NRG’s history — one of three U.S. electric utilities and the only U.S. integrated power company to do so.
We will continue to set clear and measurable sustainability goals and communicate our progress with transparency, using the best available frameworks and standards, such as SASB and TCFD. This level of accountability creates trust and invites stakeholder dialogue. We will also continue to boldly advocate for customer choice by seeking to open markets to competition, which allows market-based mechanisms to drive down emissions and costs for the benefit of consumers, communities and the environment.
In addition to our sustainability framework, the values that hold us together are building a better NRG. We have long maintained a dedicated safety culture and, last year, achieved the best safety record in company history. While safety and employee well-being continue to be a topmost priority, we evolved our purpose and modernized our values to better reflect who we are today, and they serve as a guidepost for bringing the power of energy to our customers.
The power industry is more dynamic than ever, with the next generation of sustainable thinking pushing both government and companies to take action. Electricity is rapidly becoming the fuel that will power a low carbon economy. Climate change and the need to decarbonize has transcended policy and is now a priority for many businesses, families, and individuals. As electric cars, connected devices, and renewable generation continue to enter the market, we shifted our business to meet the needs of customers not only with reliable and affordable electricity, but also with cleaner and more tailored solutions to meet their specific needs.
For example, in 2018, we expanded our retail presence to enhance our customer value proposition. We also divested our in-house renewables development platform, allowing us to work with a broader set of developers and find the lowest cost and most flexible solution for our customers. Innovation within our business solutions space continued as we introduced our Renewable Select concept, a unique product that greatly simplifies how corporate and industrial clients buy renewable energy. By placing customers at the center of our business, we are taking the actionable steps to reimagine, reinvent, and reshape how electricity is produced, delivered, and experienced.
I am proud of the goals we set for ourselves and the way we have achieved strong financial and operational performance while exceeding our sustainability ambitions. As you read through our 2018 Sustainability Report, I trust you will share my pride as well as my excitement for our path ahead.
President and Chief Executive Officer
Read the full report at: www.nrg.com/sustainability
Tweet me: "The power industry is more dynamic than ever, with the next generation of sustainable thinking pushing both government and companies to take action." - CEO Mauricio Gutierrez, NRG Energy http://bit.ly/2VRl6X5
KEYWORDS: NRG Energy, NYSE:NRG