Company advances new technologies and innovative climate solutions through new partnerships
Entergy Corporation (NYSE: ETR), a national leader in sustainability and environmental stewardship, announced today it is accelerating its climate action goals with a commitment to achieving net-zero carbon emissions by 2050. The company also reaffirmed its continued commitments to grid reliability and affordability for customers.
“Entergy remains focused on helping our stakeholders achieve their most ambitious aspirations in a reliable, affordable and sustainable way through new technologies and innovative solutions. In 2001, we were the first utility in the nation to voluntarily limit carbon emissions and today’s 2050 climate commitment is another major step forward in enabling customers to achieve their desired outcomes while consuming the least amount of resources,” said Leo Denault, Entergy’s chairman of the board and CEO. “As we deliver on our promises to customers, regulators and all key stakeholders, it’s critical that we do so in a manner that promotes a cleaner, more sustainable future.”
Key actions by Entergy include:
- Ongoing integration of renewable energy resources, storage, and innovative applications of conventional generation into the company’s long-term generation portfolio transformation. Also, continuing investment in existing zero-carbon nuclear power and in modern, efficient natural gas generating units, while retiring our coal and older, less efficient gas-powered units.
- Evaluating and enhancing the company’s portfolio transformation with emerging technologies, such as distributed resources, alternative fuels likes renewable natural gas and green hydrogen, carbon capture and sequestration, and advanced nuclear.
- Collaborating with customers, key suppliers and industry partners to advance the technologies and strategies necessary to reduce carbon emissions.
- Continuing to engage with partners and gain experience enhancing natural systems such as wetlands and forests that absorb carbon.
- Working across and between sectors, such as transportation and industry, on beneficial electrification and net-emission reduction initiatives.
Additionally, new agreements with Invenergy for renewable energy development and Mitsubishi Power for fuel supply emissions reduction solutions are advancing the company’s sustainability objectives. Entergy and Invenergy have agreed to co-develop renewable energy facilities in the Gulf South region. Entergy’s collaboration with Mitsubishi Power propels the technologies and expertise to co-fire hydrogen produced from renewable energy. Initial actions include demonstrating the technology, producing hydrogen from renewables or nuclear power and exploring hydrogen storage options. A longer-term strategy includes investing in the infrastructure necessary to create regional opportunities for hydrogen technologies.
The commitment to achieve net-zero emissions by 2050 builds on Entergy’s 20-year history of climate action and positions the company for five decades of leadership toward advancing a cleaner and more sustainable future for all stakeholders. In 2001, Entergy became the first U.S. utility to limit its carbon dioxide emissions voluntarily. Since then, the company has renewed and strengthened its goals:
2020: The company is currently outperforming by 8% its commitment to maintain carbon emissions through 2020 to 20% below year 2000 levels.
2030: In 2019, Entergy announced in its 2019 Climate Report a goal to reduce by half the carbon emissions rate (pounds per megawatt hour) in 2030 compared to year 2000 levels.
2050: An overview of a potential path the company could take to net-zero emissions is available here. The company will publish additional information about the commitment later this fall.
Entergy already is one of the cleanest large-scale electric utilities in the country, as noted in the 2020 Benchmarking Air Emissions report conducted by energy and environmental advisory firm M. J. Bradley & Associates, an ERM Group company. MJB&A is an advisor to Entergy on its climate and net-zero strategy.
“Entergy’s net-zero commitment breaks ground with important near-term investments in clean energy technologies that will be needed to transform the power generation fleet,” said Robert LaCount, executive vice president at MJB&A. “Entergy’s climate and energy analysis highlights the critical role for multiple technologies – including renewables and hydrogen – to achieve a carbon-free electric system.”
While the company’s new commitment looks far into the future, Entergy is leading today in innovative technology engagement and cross-sector collaboration to support the technology, innovation and policies needed to meet our 2050 commitment, including the Midcontinent Power Sector Collaborative Roadmap to Decarbonization, the Industrial Innovation Initiative, the Edison Electric Institute’s Clean Energy Vision, EPRI, the Natural Gas Supply Collaborative, Gulf Coast Carbon Collaborative and the C2ES Getting to Zero climate agenda.
Source: Company Press Release