NEW ORLEANS, Sept. 24, 2020 /PRNewswire/ -- Entergy
Corporation (NYSE: ETR), a national leader in sustainability and
environmental stewardship, announced today it is accelerating its
climate action goals with a commitment to achieving net-zero carbon
emissions by 2050. The company also reaffirmed its continued
commitments to grid reliability and affordability for
customers.
"Entergy remains focused on helping our stakeholders achieve
their most ambitious aspirations in a reliable, affordable and
sustainable way through new technologies and innovative solutions.
In 2001, we were the first utility in the nation to voluntarily
limit carbon emissions and today's 2050 climate commitment is
another major step forward in enabling customers to achieve their
desired outcomes while consuming the least amount of resources,"
said Leo Denault, Entergy's chairman
of the board and CEO. "As we deliver on our promises to customers,
regulators and all key stakeholders, it's critical that we do so in
a manner that promotes a cleaner, more sustainable future."
Key actions by Entergy include:
- Ongoing integration of renewable energy resources, storage, and
innovative applications of conventional generation into the
company's long-term generation portfolio transformation. Also,
continuing investment in existing zero-carbon nuclear power and in
modern, efficient natural gas generating units, while retiring our
coal and older, less efficient gas-powered units.
- Evaluating and enhancing the company's portfolio transformation
with emerging technologies, such as distributed resources,
alternative fuels likes renewable natural gas and green hydrogen,
carbon capture and sequestration, and advanced nuclear.
- Collaborating with customers, key suppliers and industry
partners to advance the technologies and strategies necessary to
reduce carbon emissions.
- Continuing to engage with partners and gain experience
enhancing natural systems such as wetlands and forests that absorb
carbon.
- Working across and between sectors, such as transportation and
industry, on beneficial electrification and net-emission reduction
initiatives.
Additionally, new agreements with Invenergy for renewable energy
development and Mitsubishi Power for fuel supply emissions
reduction solutions are advancing the company's sustainability
objectives. Entergy and Invenergy have agreed to co-develop
renewable energy facilities in the Gulf South region. Entergy's
collaboration with Mitsubishi Power propels the technologies and
expertise to co-fire hydrogen produced from renewable energy.
Initial actions include demonstrating the technology, producing
hydrogen from renewables or nuclear power and exploring hydrogen
storage options. A longer-term strategy includes investing in the
infrastructure necessary to create regional opportunities for
hydrogen technologies.
The commitment to achieve net-zero emissions by 2050 builds on
Entergy's 20-year history of climate action and positions the
company for five decades of leadership toward advancing a cleaner
and more sustainable future for all stakeholders. In 2001, Entergy
became the first U.S. utility to limit its carbon dioxide emissions
voluntarily. Since then, the company has renewed and strengthened
its goals:
2020: The company is currently outperforming by 8%
its commitment to maintain carbon emissions through 2020 to 20%
below year 2000 levels.
2030: In 2019, Entergy announced in its 2019 Climate
Report a goal to reduce by half the carbon emissions rate (pounds
per megawatt hour) in 2030 compared to year 2000 levels.
2050: An overview of a potential path the company
could take to net-zero emissions is available here. The company
will publish additional information about the commitment later this
fall.
Entergy already is one of the cleanest large-scale electric
utilities in the country, as noted in the 2020 Benchmarking Air
Emissions report conducted by energy and environmental advisory
firm M. J. Bradley & Associates, an ERM Group company.
MJB&A is an advisor to Entergy on its climate and net-zero
strategy.
"Entergy's net-zero commitment breaks ground with important
near-term investments in clean energy technologies that will be
needed to transform the power generation fleet," said Robert LaCount, executive vice president at
MJB&A. "Entergy's climate and energy analysis highlights the
critical role for multiple technologies – including renewables and
hydrogen – to achieve a carbon-free electric system."
While the company's new commitment looks far into the future,
Entergy is leading today in innovative technology engagement and
cross-sector collaboration to support the technology, innovation
and policies needed to meet our 2050 commitment, including the
Midcontinent Power Sector Collaborative Roadmap to Decarbonization,
the Industrial Innovation Initiative, the Edison Electric
Institute's Clean Energy Vision, EPRI, the Natural Gas Supply
Collaborative, Gulf Coast Carbon Collaborative and the C2ES Getting
to Zero climate agenda.
To learn more about Entergy's commitment to customers and
environmental stewardship, visit entergy.com/environment.
About Entergy Corporation
Entergy Corporation is an integrated energy company engaged
primarily in electric power production and retail distribution
operations. Entergy owns and operates power plants with
approximately 30,000 megawatts of electric generating capacity,
including 8,000 megawatts of nuclear power. Entergy delivers
electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of
$11 billion and approximately 13,600
employees.
Forward-Looking Statements
In this news release, and from time to time, Entergy Corporation
makes certain "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, among other things, statements
regarding Entergy's environmental plans, goals, beliefs and
expectations, including statements regarding its greenhouse gas
reduction goals and strategies; and other statements of Entergy's
plans, beliefs, or expectations included in this presentation.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which apply only as of the date of this
presentation. Except to the extent required by the federal
securities laws, Entergy undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
Forward-looking statements are subject to a number of risks,
uncertainties, and other factors that could cause actual results to
differ materially from those expressed or implied in such
forward-looking statements, including (a) those factors discussed
elsewhere in this presentation and in Entergy's most recent Annual
Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q,
and Entergy's other reports and filings made under the Securities
Exchange Act of 1934; (b) uncertainties associated with (1) rate
proceedings, formula rate plans, and other cost recovery
mechanisms, including the risk that costs may not be recoverable to
the extent anticipated by the utilities and (2) implementation of
the ratemaking effects of changes in law; (c) uncertainties
associated with efforts to remediate the effects of major storms
and recover related restoration costs; (d) risks associated with
operating nuclear facilities, including plant relicensing,
operating, and regulatory costs and risks; (e) changes in
decommissioning trust fund values or earnings or in the timing or
cost of decommissioning Entergy's nuclear plant sites; (f)
legislative and regulatory actions and risks and uncertainties
associated with claims or litigation by or against Entergy and its
subsidiaries; (g) risks and uncertainties associated with execution
on our business strategies, including strategic transactions that
Entergy or its subsidiaries may undertake and the risk that any
such transaction may not be completed as and when expected and the
risk that the anticipated benefits of the transaction may not be
realized; (h) effects of changes in federal, state, or local laws
and regulations and other governmental actions or policies,
including changes in monetary, fiscal, tax, environmental, or
energy policies; (i) the effects of changes in commodity markets,
capital markets, or economic conditions; (j) impacts from a
terrorist attack, cybersecurity threats, data security breaches, or
other attempts to disrupt Entergy's business or operations, and/or
other catastrophic events; (k) the direct and indirect impacts of
the COVID-19 pandemic on Entergy and its customers; and (l) the
effects of technological change, including the costs, pace of
development and commercialization of new and emerging
technologies.
entergy.com
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SOURCE Entergy Corporation