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.
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.
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