COLUMBUS, Ohio, May 1, 2024
/PRNewswire/ -- American Electric Power (Nasdaq: AEP) issued the
2024 Corporate Sustainability Report, an annual assessment of its
sustainable business practices, strategy, performance and impact.
This report marks AEP's 18th year of providing a comprehensive view
of AEP's progress as a business and community partner and
highlights the company's longstanding commitment to stakeholder
engagement, transparency and long-term value creation.
The report's theme, "Our Journey Forward," reflects AEP's
sustainable growth strategy, which is focused on a safe, reliable
and just transition; environmental compliance and stewardship;
employee well-being and engagement; social justice and equity; and
strong and effective corporate governance.
In 2023, AEP refreshed its company values to reinforce a
commitment to customers and a safe, sustainable energy future. The
company's $43 billion, five-year
capital investment plan is designed to meet customers' energy needs
by strengthening its regulated business and supporting growth.
"Safe, affordable and reliable power has never been more
important for our customers and the communities we serve," said
Ben Fowke, AEP's interim president
and chief executive officer. "As we work to achieve our net-zero
goal, we're equally committed to working with regulators,
policymakers, investors and other stakeholders to balance the
transition. We understand the importance of a diverse portfolio of
resources especially during a time of unprecedented growth in
electricity demand. We will deliver on our purpose and commitment
by always prioritizing the needs of our customers and
communities."
The company also implemented new Just Transition principles that
focus on customers and communities, its workforce and the future.
These principles include Our Customers and Communities, striving to
provide customers and communities with safe, reliable and
affordable power; Each Other, treating the company's workforce
respectfully; and The Future, continuously improving the Just
Transition processes and sharing updates with key stakeholders. A
Just Transition enables people and communities to thrive during the
transition to a cleaner energy economy.
"Our customers, communities and investors count on us to fulfill
our purpose to deliver safe, reliable and affordable electricity.
The 2024 Corporate Sustainability Report is one way we show our
commitment to our stakeholders by highlighting what we've
accomplished and outlining the future of AEP," said Sandy Nessing, vice president and chief
sustainability officer.
The report also provides access through AEP's ESG Data
Center to the most requested metrics about the company's
performance.
View the 2024 Corporate Sustainability Report and learn
more about AEP's sustainable development strategy.
At American Electric Power, based in Columbus, Ohio, we understand that our
customers and communities depend on safe, reliable and affordable
power. Our nearly 17,000 employees operate and maintain more than
40,000 miles of transmission lines, the nation's largest electric
transmission system, and more than 225,000 miles of distribution
lines to deliver power to 5.6 million customers in 11 states. AEP
also is one of the nation's largest electricity producers with
approximately 29,000 megawatts of diverse generating capacity,
including nearly 6,000 megawatts of renewable energy. AEP is
investing $43 billion over the next
five years to make the electric grid cleaner and more reliable. We
are on track to reach an 80% reduction in carbon dioxide emissions
from 2005 levels by 2030 and have a goal to achieve net zero by
2045. AEP is recognized consistently for its focus on
sustainability, community engagement and inclusion. AEP's family of
companies includes utilities AEP Ohio, AEP Texas, Appalachian Power
(in Virginia and West Virginia), AEP Appalachian Power (in
Tennessee), Indiana Michigan
Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power
Company (in Arkansas, Louisiana, east Texas and the Texas
Panhandle). AEP also owns AEP Energy, which provides
innovative competitive energy solutions nationwide. For more
information, visit aep.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/aep-releases-2024-corporate-sustainability-report-302133134.html
SOURCE American Electric Power