WASHINGTON, Aug. 27, 2018 /PRNewswire/ -- 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.
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition to our U.S. members, EEI has more than 60 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
SOURCE Edison Electric Institute