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Building a Clean Energy Future Together

by on May 20, 2021
North Central Wind is being developed in Oklahoma as part of AEP's renewable energy investments.

American Electric Power is proud to issue our 2021 Corporate Accountability Report, an annual assessment of our performance as a public company and a community partner. This Report marks AEP’s 15th year of sustainability and environmental, social and governance (ESG) disclosure, demonstrating our commitment to reporting on the company’s progress towards a sustainable energy future.

The report’s theme, “Building a Clean Energy Future Together,” highlights our work in delivering clean, reliable and affordable energy to our customers and empowering change in the communities we serve.

“More than ever, we are committed to delivering a sustainable energy future that is inclusive, reliable and clean,” said Nick Akins, chairman, president and chief executive officer of AEP, in the report’s introduction. “We are amplifying our advocacy for social justice in our communities and supporting change and equity through visible actions. No matter the challenge, our plan puts people first. Together, we will achieve environmental sustainability, and work to actualize economic empowerment and social justice. Together, we will transition to a clean energy future.”

“I am proud of AEP’s longstanding commitment to sustainability and ESG disclosure,” said Sandy Nessing, managing director, corporate sustainability. “I’ve witnessed the evolution of our sustainability journey since its inception in 2006. We have made tremendous progress through the years to empower customers to use energy more efficiently while reducing our carbon footprint and building stronger communities. AEP’s transformation to a clean energy future comes down to our people, the choices we make, and our commitment to engaging stakeholders for the best outcomes. There is still work to be done but we have a lot to be proud of.”

Highlights of the 2021 Report include:

  • Future Forward Strategy – Our new Future Forward strategy to transform our generating capacity portfolio from a majority coal-fueled resource base to a majority renewable portfolio by 2030. We are proposing to add nearly 16,600 megawatts of new, clean wind and solar generation, growing our renewable generating portfolio to 51% of our total capacity.
  • Zero Harm – 2020 ranks among our best years for safety performance. Our five-year safety and health transformation achieved a 34% reduction in our DART rate (Days Away, Restricted or Job Transfer). We celebrate these achievements – zero employee fatalities and improved safety performance – as we continue our relentless pursuit of Zero Harm. 
  • Response, Support & Resilience to COVID-19 – The strength, resilience and agility of our employees and company met and exceeded the unprecedented challenges of 2020. Our workforce remained committed to keeping our economies and communities connected as efficiently and safely as possible, while remaining dedicated to continued operational excellence, zero harm and financial discipline. 
  • Addressing Racism & Bias – We launched “Seize the Moment” in 2020 to accelerate the achievement of our diversity, equity and inclusion goals. This included frank conversations about racism, organized town hall webcasts and safe space conversations, among other efforts.
  • Social & Racial Justice Grant – Announced the launch of a $5 million Delivering on the Dream: Social and Racial Justice grant program through the AEP Foundation. The program funds organizations that are doing meaningful work to advance equity and racial justice in our communities. 
  • ESG Data Center – AEP’s ESG Data Center includes 250+ of the most relevant metrics we are commonly asked to disclose. In addition to the Data Center, we developed an ESG Strategy & Performance Report that features how we manage our ESG performance, disclosure and governance. In addition, it’s a collation of our Data Center, SASB report, GRI report and access to our Climate Impact Analysis Report – a TCFD report.

View the 2021 Corporate Accountability Report and learn more about AEP’s sustainable development strategy.

 

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One Comment
  1. Velda Otey permalink

    As an AEP retiree who is still fully invested in the success of AEP, it concerns me that the picture chosen, for the Community Impact Social and Racial Justice Grants, highlights six white men only (no people of color and no women). I have been following AEP’s response to the social and racial issues our country has been facing over the last year and was very hopeful that there would be visible positive movement to re-enforce the words communicated by our executives. I appreciate that news for the retiree’s site has moved from deaths, retirements, and benefits to include the good work that continues to make AEP #1. However, to see a picture like this that does not represent the communities we serve or the (albeit small) diversity within the company just punched me in the stomach. Kudos for continuing to increase the investment we are making in the community and let’s do the same to “Deliver On The Dream’ within the company.

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