WEC Energy Publishes 2023 Corporate Responsibility Report

Highlights

• Reducing carbon and methane emissions, ending coal by 2032, and carbon-neutral electricity by 2050.
• $23.7 billion plan for renewable energy and efficiency, 3,800 megawatts of new renewable capacity.
• Recognised for hydrogen technology, veteran support, diversity in supplier spending.

WEC Energy Group, an American electricity and natural gas provider, has released its 2023 Corporate Responsibility Report.

The report covers the company’s climate strategy and emerging technologies like renewable natural gas, hydrogen power and long-duration battery storage.

Scott Lauber, President and CEO, says, “We're pleased to report that we continued to make solid progress on our industry-leading targets for reducing carbon and methane emissions. We recently retired additional coal generation, and moved up our timeline for a complete exit from coal — now planned by the end of 2032 — while adding renewable power and efficient natural gas to reliably serve our customers. We have served the people of the Midwest for more than a century. The future is bright, and we are dedicated to powering our communities now and for many years to come."

Report Highlights

• The company has reduced carbon emissions from generation by 54% since 2005, targets 60% by 2025 and 80% by 2030. Eliminate coal by 2032, achieve carbon-neutrality in electricity by 2050.
• Net-zero methane by 2030 in natural gas distribution.
• $23.7 billion capital plan with $7 billion for renewable energy, more than four times carbon-free generation.
• In 2023 WEC Energy Group won the EPRI Technology Transfer Award, Top Hydrogen Plan Award, Wisconsin Department of Workforce Development’s Vets Ready Award for veteran support. Spent over $333 million with diverse suppliers and $20.7 million with charitable causes.

The full 2023 Corporate Responsibility Report and more information on WEC Energy Group’s ESG initiatives are available at www.wecenergygroup.com/csr/.

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Source: WEC Group