Duke Energy, headquartered in Charlotte, North Carolina, has published a report on the company's strategy and ongoing efforts to mitigate risks from climate change, reduce emissions, and navigate policy uncertainty.
"We are pleased to share this report with shareholders and others who are interested in learning more about our commitment to continue lowering carbon emissions," said Lynn Good, Duke Energy's chairman, president and CEO.
The report states that by 2030, the company expects more than 80 percent of its generation mix to come from zero and lower CO2-emitting sources. It is also anticipating investment of $11 billion over 2017 to 2026 in new natural gas-fired, wind and solar generation.
Also included is an anticipated investment of $25 billion between 2017 and 2026 to create a smarter, more resilient grid with smart grid technologies to enable more renewables, and storm hardening and targeted undergrounding of electric lines to protect against extreme weather.
The report contains a "2-degree scenario" analysis of the potential long-term impacts on the company's generation fleet associated with the possibility of reducing CO2 emissions consistent with limiting global warming to no more than 2 degrees Celsius over pre-industrial levels. The analysis is based on a number of assumptions and reflects just one possible pathway the company could take to achieve carbon reductions. The company's current carbon goal to reduce CO2 emissions 40 percent by 2030 is consistent with a pathway to achieve a science-based 2-degree target.
To read Duke Energy's 2017 Climate Report to Shareholders, visit Duke Energy