MILWAUKEE, Dec. 5, 2017 /PRNewswire/ -- To promote consistency and transparency in sustainability reporting, WEC Energy Group (NYSE: WEC) is participating in the Edison Electric Institute's (EEI's) public pilot of a new reporting template for environmental, social and governance (ESG) information. This pilot is part of an ongoing initiative to make ESG/sustainability metrics more accessible to investors and comparable across the electric sector.
"We're pleased to engage with investors and our peers at EEI to help improve reporting in our industry as we work toward a clean, reliable future," said Gale Klappa, chairman and chief executive officer of WEC Energy Group.
In 2016, WEC Energy Group joined an EEI working group to collaborate with other energy companies and institutional investors on the creation of this template. Group members brought a variety of perspectives to the task, including specialties in accounting, environmental, sustainability, finance, investor relations, asset management and legal matters. Over the past 18 months, the working group helped EEI develop a template to provide the qualitative and quantitative ESG information relevant to investors and other stakeholders.
The template provides space for companies to report on their ESG governance, energy portfolios, emissions, and human and natural resources. Companies participating in the pilot now are reporting 2016 data, and EEI plans to release the next version of the template in mid-2018 for use with 2017 data.
WEC Energy Group has published its 2016 data on the Corporate Responsibility section of its website. Detailed ESG information also can be found in the company's corporate responsibility report.
WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.4 million customers in Wisconsin, Illinois, Michigan, and Minnesota.
The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. The company's other major subsidiary, We Power, designs, builds and owns electric generating plants.
WEC Energy Group (wecenergygroup.com), a component of the S&P 500, has approximately 55,000 stockholders of record, 8,500 employees, and more than $30 billion in assets.
SOURCE WEC Energy Group