Allentown-based energy company PPL Corp. released two new reports detailing its efforts to advance environmental, social and governance (ESG) and sustainability initiatives.
“PPL is pursuing clear goals to advance a sustainable energy future for the customers and communities we serve,” Vincent Sorgi, president and CEO of PPL Corp., said. “As we pursue our goals, we’re investing in the research and development of clean energy solutions that will enable us to achieve net-zero carbon emissions, and we’re committed to ensuring a balanced, responsible and just transition to economy-wide decarbonization.”
PPL has made significant progress toward its goal of achieving net-zero carbon emissions by 2050. It is on track to achieve a 70 percent reduction in carbon dioxide and other greenhouse gases by 2035 and an 80 percent reduction by 2040. PPL’s strategy includes reducing emissions from its regulated generation fleet and other aspects of its business, investing in transmission and distribution networks to support greater electrification and economy-wide decarbonization, and advancing research and development of clean energy solutions needed to achieve net-zero emissions.
PPL has invested $20 billion in the company’s Pennsylvania and Kentucky operations over the last decade to reach these goals. The bulk of those investments have focused on creating a more resilient and dynamic distribution and transmission network. In addition, PPL continues to build on its smart grid success, deploying technology that will support greater electrification, the development and deployment of new renewables, and connecting more distributed energy resources.
For example, PPL Electric Utilities is piloting a new technology called Dynamic Line Rating that uses real-time data analytics to increase the capacity and efficiency of transmission line usage. This provides a cost-effective approach to delivering increased clean energy resources to customers. In addition, PPL is an anchor sponsor of the Low-Carbon Resources Initiative, which is focused on accelerating the development of low- and zero-carbon energy technologies. Further, PPL recently joined the Energy Impact Partners’ global investment platform to foster innovation and accelerate the clean energy transition. It has committed $50 million to the effort.
“Our transparent reporting on ESG initiatives provides a clear view of the company’s performance on issues important to a wide variety of stakeholders and offers insight on PPL’s strategy to grow responsibly while delivering energy safely, reliably and affordably,” Christine Martin, vice president of public affairs and sustainability for PPL Corp. and co-chair of Edison Electric Institute’s Sustainability Committee, said.