Vistra Scores Significantly Higher Than the North American Average on its First Ever CDP Climate Change Disclosure
December 14, 2020 /3BL Media/ -- Vistra today announced that CDP, a global non-profit running the world’s leading environmental disclosure platform, scored Vistra in the ‘Management Band’ of its 2020 climate change report, including companies known for taking coordinated action on climate issues, with an overall score of ‘B’. This year 9,600 companies disclosed environmental data through CDP, where companies were assessed based off of the comprehensiveness of their disclosures, management of environmental risks, and best practices associated with environmental leadership. The North American regional average score was a 'D’.
This was the first year Vistra has been scored by the organization, recognizing Vistra’s commitment to transparency and the enhancement of its ESG-related disclosures.
“Vistra is committed to lead in the global effort to combat climate change as we balance our ambitious greenhouse gas emissions reduction targets with the important priority of providing safe, reliable, and affordable power to our customers,” said Molly Sorg, Vistra’s chief sustainability officer. “Our participation in the CDP process in 2020 reflects our continued commitment to enhance our ESG-related disclosures in order to provide appropriate levels of transparency to our stakeholders. If we all do our part, we can accelerate the transition to a lower-carbon future while maintaining a prosperous global economy. Vistra is proud to be part of the solution.”
Ateli Iyalla, Managing Director at CDP North America, commented: “Corporations have a significant role to play in solving the environmental crisis, and the first essential step is to be transparent around their current environmental impacts. Vistra is among a critical mass of companies that are disclosing their environmental impact to CDP annually – thereby uncovering risks and opportunities, boosting their competitive advantage and tracking progress toward sound environmental management. I look forward to seeing them advance their action and continue on a path toward true environmental stewardship.”
Earlier this year, Vistra announced a comprehensive plan to accelerate its transition to clean power generation sources and advance efforts to significantly reduce its carbon footprint. The company launched Vistra Zero, a portfolio of zero-carbon power generation facilities, including seven new developments announced in Texas that total nearly 1,000 megawatts. In addition, the company committed to more ambitious long-term emissions reduction targets, released its first climate report, and announced its intention to retire all of its generation subsidiaries' coal plants in Illinois and Ohio as well as one coal plant in Texas. Read more here.
Vistra (NYSE: VST) is a leading, Fortune 275 integrated retail electricity and power generation company based in Irving, Texas, providing essential resources for customers, commerce, and communities. Vistra combines an innovative, customer-centric approach to retail with safe, reliable, diverse, and efficient power generation. The company brings its products and services to market in 20 states and the District of Columbia, including six of the seven competitive wholesale markets in the U.S. and markets in Canada and Japan, as well. Serving nearly 5 million residential, commercial, and industrial retail customers with electricity and natural gas, Vistra is the largest competitive residential electricity provider in the country and offers over 50 renewable energy plans. The company is also the largest competitive power generator in the U.S. with a capacity of approximately 39,000 megawatts powered by a diverse portfolio, including natural gas, nuclear, solar, and battery energy storage facilities. In addition, the company is a large purchaser of wind power. The company is currently constructing a 400-MW/1,600-MWh battery energy storage system in Moss Landing, California, which will be the largest of its kind in the world when it comes online. Vistra is guided by four core principles: we do business the right way, we work as a team, we compete to win, and we care about our stakeholders, including our customers, our communities where we work and live, our employees, and our investors. Learn more about our environmental, social, and governance efforts and read the company's sustainability report at https://www.vistracorp.com/sustainability/.
CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the over 920 cities, states and regions who disclosed in 2019, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://cdp.net/en or follow us @CDP to find out more.