Exelon Releases 2021 Corporate Sustainability Report
From a $6.6 billion energy infrastructure investment to helping connect more than 650,000 customers to $450 million in energy assistance last year, highlights in the CSR cover hundreds of initiatives that have made a positive impact on the energy transmission and distribution company’s 10 million customers, the communities it serves and the environment.
Exelon has released its 2021 Corporate Sustainability Report (CSR), a comprehensive overview of the company’s focus on clean, reliable, affordable and equitable energy delivery and energy solutions for its customers and communities. As the nation’s largest energy transmission and distribution company, Exelon continues to steward the clean energy transition and power the economic health and well-being of the large and diverse metropolitan areas that it serves.
“Exelon’s strategic investments in environmental, social and governance priorities are both the right thing to do and a clear competitive advantage for our company,” said Chris Crane, Exelon president and CEO. “Our unwavering commitment to safety, operational excellence, diversity, financial health, strong ethical standards and controls, and prudent, customer-focused investment in reliability continues to enhance the sustainable value Exelon delivers to all of its stakeholders. Exelon will continue to lead by example in the years ahead as the climate crisis, along with systemic inequity in our communities, further shape what is imperative to our business and challenge us to do even more in alignment with our core values.”
The 2021 Exelon CSR covers eight strategic focus areas:
Advancing clean energy and affordable energy choices
Exelon provides clean energy solutions and technologies to combat climate change, reduce local air pollution and power a healthy, sustainable, equitable future. In 2021, the company invested more than $6.6 billion in energy infrastructure, with an additional $29 billion planned for 2022–2025. These investments are critical to bringing more renewables online and enabling the electrification of the transportation sector.
Delivering world-class customer experiences
Exelon empowers customers by providing affordable services and by helping them take charge of their energy needs. Last year, customers at Exelon’s six local energy delivery companies saved 22.8 million MWh through energy efficiency programs – the equivalent energy use of more than one million homes for one year.
Safely powering reliability and resilience
Exelon is preparing the grid to adapt to changing conditions and withstand more extreme weather and disruptive events. In 2021, Exelon’s customers experienced strong electric service reliability as a result of the company’s strategic investments in energy grid resiliency and modernization.
Exelon helps power the economic health and well-being of the diverse communities it serves, and advocates for equity. Spending with diversity-certified suppliers reached $2.4 billion in 2021, accounting for 40 percent of Exelon’s sourced spending. Also last year, the company invested more than $14 million to support 65 workforce development programs across its six utilities, and more than 5,000 people in underserved communities participated in training for jobs in the energy industry.
Managing climate change risks and opportunities
Exelon is evolving energy systems to enable decarbonization and build resilience, while maintaining energy access and affordability. In August 2021, Exelon announced its Path to Clean commitment to reduce operations-driven emissions 50 percent by 2030 and achieve net-zero operations by 2050, while also supporting customers and communities in achieving their clean energy goals.
Exelon works to reduce impacts to watersheds and biodiversity by improving processes to reduce company waste and emissions, and by being responsible stewards of the resources it uses. The company supports efforts to restore and maintain more than 13,000 acres of fragile ecosystems in rights-of-way and at company facilities across its service areas, and 60 Exelon locations or programs now have National Wildlife Federation habitat certifications.
A safe, innovative and rewarding workplace
Exelon’s culture – focused on safety, innovation and diversity – permeates all levels of the company and keeps employees engaged in meaningful and important work. Exelon was named among DiversityInc’s Top 50 Companies for Diversity in 2021.
From the board of directors to the supply chain, Exelon drives sustainability through a careful understanding of risk and accountability, while providing resources to support employees and clear expectations for compliance with the company’s policies and values.
Additional highlights in each of these focus areas are included in the full report, and progress consistent with the company’s core values has continued into 2022. Exelon’s efforts to be a sustainability and ESG leader this year include:
- In February, Exelon urged Congress to fund the Low-Income Home Energy Assistance Program (LIHEAP) at the highest level possible.
- Exelon’s new $36 million Racial Equity Capital Fund began accepting applications from minority-owned businesses in May to help fuel growth and spur job opportunities in underserved and under-resourced communities.
- In June, Exelon announced a new travel benefit to ensure employees and their dependents covered under Exelon’s medical plan have access to the health and well-being care they need, even if it’s not available near where they live.
The CSR presents information and data that reflects the current-day footprint of the Exelon transmission and distribution energy business in the 2021 calendar year, prior to Exelon’s February 2022 separation from its power generation business to an independent business, Constellation.