Constellation’s 2024 Sustainability Report Showcases Work to Advance Clean Energy Future, Uplift Communities
June 25 2024 - 8:30AM
Business Wire
Continued positive momentum for nuclear energy
propels investment in Constellation’s existing fleet as
policymakers, customers and communities increasingly recognize the
value of reliable, clean energy
Constellation (Nasdaq: CEG), the nation’s largest producer of
carbon-free energy, released its 2024 Sustainability Report today,
highlighting the company’s sustainable business strategy focused on
accelerating the nation’s transition to a carbon-free energy
future, responding to the climate crisis and delivering long-term
value for customers, communities, employees and shareholders. The
report details key progress in the company’s work to lead the clean
energy transition by providing the most important commodity in the
world today – energy that is emissions-free and always on. The
report also details Constellation’s efforts to support the
sustainability goals of customers seeking to reduce their own
carbon footprints, as well as initiatives to strengthen and support
local communities, particularly those historically underserved, to
ensure the benefits of clean, reliable and affordable energy are
shared by all.
Recently named to the Fortune 200 for the second consecutive
year, Constellation and its approximately 14,000 employees, backed
by the nation’s largest zero-emissions nuclear fleet, safely
generated about 10% of the country’s clean energy last year. In
addition, Constellation continues to add reliable, clean energy to
the grid by seeking license extensions for existing plants and
installing new equipment to increase the output of its
emissions-free nuclear and renewable fleet. The landmark Inflation
Reduction Act helped stabilize the nuclear energy industry and set
the table for continued investment in the existing nuclear fleet,
while policymakers on both sides of the aisle, other key
stakeholders and the majority of Americans increasingly support
nuclear energy and recognize its role in meeting demand for a
growing economy.
“Leading America’s clean energy transition and reliably meeting
our nation’s growing energy needs for everything from
transportation and heavy industry to the booming data economy is an
enormous responsibility,” said Joe Dominguez, president and CEO,
Constellation. “That’s why we’re focused on helping our customers
achieve their sustainability goals, advocating for sound policies
to advance the clean energy transition, and ensuring Americans of
all backgrounds benefit from our investments in workforce
development, philanthropy and small and diverse businesses across
the communities we serve.”
A few highlights of the report include:
- Produced 178 terawatt hours of clean, carbon-free electricity
in 2023, enough to power the equivalent of 16 million homes and
avoid 125 million metric tons of carbon emissions.
- Achieved a leading nuclear fleet capacity factor by remaining
online 94.4% of the time, continuing a nearly two decade stretch of
best-in-industry performance.
- Sought to renew the licenses of the Clinton and Dresden clean
energy centers in Illinois, which if pursued across Constellation’s
full nuclear fleet would provide as much additional carbon-free
power as all the renewable energy in America over the past 40
years.
- Announced plans to invest $800 million in new equipment to
increase the output of the Braidwood and Byron clean energy centers
in Illinois, increasing the capacity of those nuclear plants by 158
megawatts, which together with similar projects at other plants,
could add up to one gigawatt of new clean energy capacity over the
next decade.
- Acquired a partial ownership stake in the South Texas Electric
Generating Station, a 2,645-MW dual-unit nuclear plant located in
Bay City, Texas.
- Completed the repowering of the Criterion wind project in
Maryland by upgrading 28 turbines with new, state-of-the-art
components that will increase clean energy production by 79,000 MWh
and extend its life for an additional 20 years.
- Collaborated with LevelTen to help form the Granular
Certificate Trading Alliance, a trading platform for carbon-free
energy attributes that supports hourly clean energy matching for
business customers.
- Continued to grow the Constellation Offsite Renewables (CORe)
business, which has helped support 2,600 MW of new renewable energy
capacity since 2019.
- Earned a Great Place To Work® Certification based on how
employees rate their experience working at Constellation.
- Ranked ninth on Barron’s list of the 100 Most Sustainable U.S.
companies and were named to JUST Capital’s JUST100.
- Spent more than $521 million with diverse suppliers, which
represents 21% of the company’s total spend on materials and
services with suppliers that are managed through its Supply
organization.
- Supported economic growth and progress, including through the
$1.25 million annual Powering Change investment and other workforce
development programs that provide family-sustaining jobs in
underserved communities.
- Contributed $18.7 million in combined charitable donations --
$13.6 million by the company and its foundation, and another $5.1
million by employees, who also volunteered more than 102,000 hours
in the community. Notably, 81% of the company’s direct grants
supported organizations, programs or events serving
underrepresented populations.
Constellation will report additional details on positive
economic and community impacts in its forthcoming inaugural DEI and
Economic Impact reports. Stay tuned to constellationenergy.com and
Constellation’s social media platforms for updates.
About Constellation
A Fortune 200 company headquartered in Baltimore, Constellation
Energy Corporation (Nasdaq: CEG) is the nation’s largest producer
of clean, carbon-free energy and a leading supplier of energy
products and services to businesses, homes, community aggregations
and public sector customers across the continental United States,
including three fourths of Fortune 100 companies. With annual
output that is nearly 90% carbon-free, our hydro, wind and solar
facilities paired with the nation’s largest nuclear fleet have the
generating capacity to power the equivalent of 16 million homes,
providing about 10% of the nation’s clean energy. We are further
accelerating the nation’s transition to a carbon-free future by
helping our customers reach their sustainability goals, setting our
own ambitious goal of achieving 100% carbon-free generation by
2040, and by investing in promising emerging technologies to
eliminate carbon emissions across all sectors of the economy.
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version on businesswire.com: https://www.businesswire.com/news/home/20240625086094/en/
Dave Snyder Constellation Communications 667-218-7700
david.snyder@constellation.com
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