The Tennessee Valley Authority has released an updated Environmental, Social, and Governance (ESG) report using the ESG/Sustainability template developed by the Edison Electric Institute (EEI) with input from the financial community.
This is TVA's third year of reporting with the template, which the power utility industry uses to provide focused ESG information in a consistent format.
Consistent with TVA's recent Sustainability Report, TVA's updated information in the EEI template for 2020 shows continued progress in providing cleaner energy. TVA reduced carbon dioxide emissions by 63 percent through 2020 by reducing reliance on carbon-based generation sources. In addition, nearly 60 percent of the energy supplied by TVA in 2020 came from carbon-free sources, including nuclear, hydroelectric, and other renewables.
"TVA has a strong track record on ESG, and we continue to improve," said Tammy Wilson, TVA's vice president, treasurer, and chief risk officer. "Our recently approved Strategic Intent and Guiding Principles supplies us with a plan to achieve 70% carbon reductions by 2030, creates a path to a reduction of about 80% by 2035 and provides an aspirational goal of achieving net-zero by 2050 as we partner with others to meet the region's and the nation's needs.
"We recognize the important information needs of the financial community, and the updated ESG report allows them to more easily compare and monitor TVA's progress on key metrics."
TVA's updated report contains a short narrative section highlighting sustainability information, and a quantitative section with key ESG metrics. The report can be accessed from the ESG Information for Investors section of TVA's Investor Relations website at www.tva.com/investors, or directly by clicking here.
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving nearly 10 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system, and assists local power companies and state and local governments with economic development and job creation.