“ESG is essential to who we are,” said Katherine Neebe, Duke Energy’s chief sustainability officer and president, Duke Energy Foundation. “Our ESG strategy is focused on how we create value while at the same time mitigate the risks associated with our business. As we lead the most ambitious clean energy transition in our industry, we will continue to track and report our progress.”
One of the company’s goals is to own, operate or contract for 16,000 megawatts (MWs) of renewable energy by 2025. During 2021, the company went from almost 8,800 MWs of wind and solar at the end of 2020 to just over 10,500 MWs by the end of 2021.
The leading states for Duke Energy’s renewable energy increase in 2021:
Renewable energy is an important part of Duke Energy’s effort to reduce carbon emissions from electric generation by at least 50% (based on 2005 levels) by 2030 and net-zero by 2050. This trajectory is supported by over 50% of Duke Energy’s generation mix coming from carbon-free resources by 2030.
The company has reduced Scope 1 carbon emissions from electricity generation by 44% since 2005. In addition, earlier this year the company announced expanded 2050 net-zero carbon emissions goals to include Scope 2 and certain Scope 3 emissions, and to have coal represent less than 5% of the generation mix by 2030 and a full exit by 2035.
Other report highlights and insights: