EEI and AGA Launch Version 2 of ESG/Sustainability Reporting Template
Washington, D.C. - The Edison Electric Institute (EEI) and the American Gas Association (AGA) today released an updated version of the jointly developed environmental, social, governance, and sustainability (ESG/sustainability) reporting template, which provides investors with uniform and consistent quantitative data and qualitative information. The updated template will be utilized by nearly all of EEI’s member companies and most of AGA’s member companies by the end of 2019.
“The newest version of the EEI and AGA ESG/sustainability reporting template will continue to allow electric and natural gas companies to deliver the most reliable and transparent ESG/sustainability data,” said EEI President Tom Kuhn. “This robust, stakeholder-driven process identified clear ways to enhance the reporting template, and we are pleased to continue our partnership with AGA as we work to ensure we are meeting the needs of the investor community.”
Version 2 of the ESG/sustainability reporting template integrates AGA's quantitative metrics for natural gas distribution companies into the spreadsheet, and qualitative reporting elements were added for cybersecurity governance and natural gas sustainability.
“Natural gas utilities are making incredible strides reducing emissions and enhancing sustainability and this new version of our environmental, social, governance and sustainability reporting template is yet another way for our industry to demonstrate this progress,” said AGA President and CEO Karen Harbert. “These clear, consistent metrics are tailored to utility operations and provide the information that investors want to see.”
In December 2017, EEI’s pilot ESG/sustainability reporting template was launched to encourage voluntary reporting of ESG/sustainability information in both quantitative and qualitative formats.
Version 1 of the ESG/sustainability template was released in August 2018, and the updated version was announced in November 2018 when EEI and AGA partnered to incorporate natural gas metrics into the reporting framework. The updated template was created to benefit electricity and natural gas customers and to help EEI and AGA member companies provide the financial sector with more uniform and consistent ESG/sustainability data and information regarding natural gas.
“As ESG disclosure continues to evolve from a ‘nice-to-have’ to a ‘must-have,’ EEI’s efforts to create a comprehensive reporting template and methodology that respond to the needs of both members and financial institutions are notable,” said Val Smith, global head of corporate sustainability at Citi. “With the release of the Version 2 ESG template, EEI and its members are demonstrating a commitment to both transparency and continual improvement, and we applaud them for getting out in front of these important trends.”
EEI and AGA member companies remain committed to working with natural gas suppliers and producers to foster sustainability practices and reporting across the entire natural gas supply chain.
Information regarding EEI member companies can be found on the investor relations or sustainability sections of their websites or on the EEI ESG website.
Information regarding AGA member companies can be found here.
The American Gas Association, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 73 million residential, commercial and industrial natural gas customers in the U.S., of which 95 percent — more than 69 million customers — receive their gas from AGA members. Today, natural gas meets more than one-fourth of the United States' energy needs.