Press release
AEP Releases 2022 Corporate Sustainability Report
COLUMBUS, Ohio, May 19, 2022 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has issued its 2022 Corporate Sustainability Report, an annual assessment
About this update from American Electric Power Company, Inc.
[{"type":"text","content":"COLUMBUS, Ohio, May 19, 2022 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has issued its 2022 Corporate Sustainability Report, an annual assessment of its performance as a public company and a community partner. This report marks AEP's 16th year of environmental, social and governance (ESG) disclosure, demonstrating its commitment to reporting the company's progress toward a sustainable energy future. The report's theme, \"The Future is Electric\", reflects AEP's important role in decarbonizing and electrifying the nation's economy in a just and equitable way.\nAEP continues to reduce its carbon footprint by investing in renewable energy, developing and deploying new technologies and building a more modern, resilient energy grid. In 2021, AEP announced a commitment to achieve an 80% reduction in emissions by 2030 from its 2000 baseline and reach net zero emissions by 2050. The company also plans to add approximately 16 gigawatts of regulated renewables to its generation portfolio by 2030.\n\"As the economy embraces electrification to decarbonize the climate, our responsibility is to deliver clean, reliable and affordable electricity that is secure and resilient. At AEP, we add to that an obligation that the grid of the future provides equitable access for all its users. Our commitment to reach net-zero carbon emissions by 2050 is unwavering. We've already made significant progress and also committed to a just transition for our employees and our communities with a focus on inclusiveness, equity and collaboration,\" said Nicholas K. Akins, AEP's chairman, president and chief executive officer, in the report's introduction.\nThe company is focused on proactive stakeholder engagement, which includes examining how its business strategy impacts customers and communities. In 2022, AEP adopted its new environmental and social justice policy to strengthen its commitment to considering the environmental and social effects of the company's operations and policy decisions, especially in low-wealth communities, communities of color and other historically marginalized communities. AEP has a long history of stakeholder engagement, and this policy reaffirms its commitment to meaningful engagement with all customers and communities.\nAEP also recently released its human rights policy, which reinforces the company's efforts to ensure th...