New Report Highlights TVA’s Environmental, Sustainability Information
KNOXVILLE, Tenn. ― The Tennessee Valley Authority published its first Environmental, Social and Governance report for the financial community using the utility-focused and investor-driven reporting template for environmental, social, governance and sustainability information developed by the Edison Electric Institute.
TVA’s energy mix has been transformed in recent years from a largely fossil fuel-based portfolio to a more diversified mix, using a balance of coal, gas, nuclear, hydroelectric and renewables. Reducing reliance on carbon-based generation sources has significantly reduced TVA’s emissions.
TVA is on track to reduce carbon dioxide emissions by 60 percent between 2005 and 2020. Currently, more than half of the energy supplied by TVA comes from carbon-free sources, including nuclear, hydroelectric and other renewables.
“TVA has a great story to share on sustainability,” said Tammy Wilson, TVA vice president, treasurer, and chief risk officer. “The ESG template, which was developed with the input of the financial community, gives us an opportunity to provide our information in a format that is consistent with others in the industry.”
TVA chose to publish a report using the EEI ESG template in recognition of the importance the financial community and other stakeholders place on sustainable business practices. The EEI ESG template improves the availability and accessibility of data for those seeking TVA information in terms of consistency, content and presentation.
“TVA’s mission is rooted in sustainability and stewardship, and TVA supports initiatives that demonstrate our progress in these areas,” said Brenda Brickhouse, TVA vice president of environment and energy policy and chief sustainability officer. “TVA’s ESG report will supplement other sustainability information that TVA provides, and highlights the advances we are making in providing cleaner energy and ensuring sustainability.”
The template discloses TVA’s ESG information in two sections: (1) a brief qualitative discussion, and (2) quantitative information.
Highlights of TVA’s ESG report include:
- TVA’s energy mix has shifted from a largely fossil fuel-based portfolio to a more diversified mix with a balance of coal, gas, nuclear, hydroelectric and renewables.
- TVA is actively adjusting and expanding its business model to incorporate distributed energy resources and partnerships with local power companies on energy efficiency, integrated grid and renewable projects.
- In calendar year 2018, TVA delivered electricity with a system average carbon rate of 825.09 pounds/megawatt, approximately 17 percent below the current national rate and 30 percent below the current SERC Tennessee Valley regional rate.
- TVA is on track to further improve our carbon rate to below 600 pounds/megawatt by the end of 2020.
- TVA has several key programs and initiatives that support its sustainability strategy, such as “The Climate Change Adaptation Plan,” which guides TVA’s planning process to include a long-range view of climate impacts on TVA’s system.
- TVA currently calculates over 700 specialized carbon rates for customers. In an effort to encourage energy behavior changes, TVA has established annual carbon awards for the top performing and most improved companies.
- TVA’s executive leadership team, as advised by the chief sustainability officer, has approved the future development of a Corporate Social Responsibility Report. TVA’s CSR Report will explain the organization’s history of sustainable performance, tell its mission of service story, and disclose sustainability results.
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving nearly 10 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system, and assists local power companies and state and local governments with economic development and job creation.
TVA Media Line
Our media staff is available 24 hours a day. If you cannot reach the contact above, please call our media line at 865-632-6000.