Xcel Energy publishes new report detailing its green energy strategy

Xcel Energy Inc., the Minneapolis-based energy company that powers millions of homes and businesses across the U.S, has reportedly published a new climate-related report. The report offers a more detailed view of the company’s green energy strategy and preparedness for managing the risks related to climate change and the opportunities related to clean energy.

The report, which responds to recommendations of the TFCD (Task Force on Climate-related Financial Disclosures), demonstrates that the firm’s green energy strategy is well-suited to adapt to the climate change risks and creates customer and shareholder value.

The Task Force’s framework asks power companies to report on four categories associated with climate change, including governance, risk management, strategy, and metrics and targets. It also recommends that organizations develop a climate scenario evaluation to test the resilience of their strategies.

Xcel Energy’s evaluation highlights climate-related disclosures pivotal to investors as well as other stakeholders of the company. The report demonstrates the value of the firm’s strategy of deploying clean energy resources, developing a resilient energy grid infrastructure, and meeting the growing needs of customers, all while keeping bills low and service reliable.

The report further reinforces the company’s commitment to its vision to offer 100 percent carbon-neutral electricity to customers by 2050 even as the coronavirus outbreak forces businesses in the nation and around the globe to reconsider their strategies.

Speaking on which, Ben Fowke, CEO and Chairman at Xcel Energy said that the company’s clean energy leadership benefits its investors and customers and this report helps demonstrate that the company’s strategy is designed to stand the test of time.

Mr. Fowke added that the company is retiring old coal plants while also investing in the country’s biggest multi-state wind expansion, looking to increase the life of carbon-neutral nuclear energy and investing in its advanced grid and transmission capabilities as part of the company’s plans to decrease carbon emissions.

Source credit https://www.xcelenergy.com/company/media_room/news_releases/xcel_energy_continues_industry_leadership_with_new_climate-related_reporting