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EEI Launches Industry-Wide Environmental, Social, Governance, and Sustainability Reporting Template
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WASHINGTON, D.C. (August 27, 2018) – The
Edison Electric Institute (EEI) announced today that it is launching an
environmental, social, governance, and sustainability-related (ESG/sustainability)
reporting template to benefit electricity customers and to help EEI’s member
electric companies provide the financial sector with more uniform and
consistent ESG/sustainability data and information. EEI launched a pilot
ESG/sustainability reporting template in December 2017.
Version 1 of the EEI ESG template is the first and only
industry-focused and investor-driven ESG reporting framework.
“The electric power industry is leading the way to a clean
energy future, having reduced carbon dioxide emissions nearly 27 percent below
2005 levels as of the end of 2017,” said EEI President Tom Kuhn. “EEI’s pilot
ESG/sustainability reporting template had a high level of member participation
and was well-received by investors, key stakeholders, and customers. The
updated template will allow electric companies to present their ESG and
sustainability-related efforts in an accurate, timely, and concise manner that
is favored by investors.”
In order to develop
industry-focused and investor-driven ESG/sustainability reporting practices,
EEI assembled a broad working group comprised of finance sector specialists in
asset management, ESG/sustainability, and investment banking; buy-side and
sell-side analysts; and electric company officials from various disciplines,
including accounting, environment, ESG/sustainability, finance, treasury,
investor relations, and legal.
“We’re excited to see the launch of EEI’s ESG template,”
said Deputy Global Head of Sustainable Finance for JPMorgan Chase Marisa
Buchanan. “As ESG goes mainstream, the disclosure template will help lenders,
investors, and EEI member companies engage on the most important ESG and
sustainability matters for the electric power industry.”
Over the past two years, EEI led stakeholder working groups
to develop the EEI ESG template, which encourages voluntary reporting of
ESG/sustainability information in both quantitative and qualitative formats.
Within the quantitative section, companies are able to report sector-specific
information, including data on a company’s portfolio, emissions, capital
expenditures, and resources. The qualitative section provides an opportunity
for companies to elaborate in greater detail regarding their governance and
strategy. The EEI ESG template provides information in a measurable and
consistent format for investors and customers to accurately assess the
long-term ESG/sustainability progression toward a clean energy future.
The electric companies
participating in Version 1 of the EEI ESG template will publish their 2017 data
in the coming weeks. For those interested in the information, companies
typically will post it on the investor relations or sustainability sections of their
websites. Please click
here for more information.
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