WEC Energy Group has released its 2020 Corporate Responsibility Report, a comprehensive overview of the company’s environmental, social and governance (ESG) performance. The report details progress made by WEC Energy Group and its family of companies on major projects and sustainability goals.
The report highlights the company’s industry-leading effort to reduce greenhouse gas and methane emissions and also looks at how in 2020 — a year like no other — the company adapted quickly to serve communities and supply essential energy resources to customers.
“Our focus on executing the fundamentals of our business allowed us to serve customers safely and reliably, invest in our communities and set far reaching environmental targets,” said Gale Klappa, executive chairman.
Industry-leading environmental goals
WEC Energy Group has established aggressive new goals for lowering emissions — emerging as a national leader in the decarbonization effort. The company is targeting a 60 percent reduction in carbon emissions from electric generation by 2025 and an 80 percent reduction by the end of 2030, both below 2005 levels. The company is also planning for a net-zero electric generation fleet by 2050.
WEC Energy Group also set a new goal to achieve net-zero methane emissions across its natural gas distribution operations by the end of 2030.
In recognition of the company’s ambitious sustainability goals and strategic planning, WEC Energy Group was recognized by Capital Finance International Magazine with a 2021 Energy Award for Best ESG Growth Strategy in the U.S.
Diversity and inclusion
The company also highlighted its commitment to ensuring a diverse and inclusive workplace. In 2020, the company increased diversity among its leadership group and refined plans to ensure all talent development and engagement efforts align with diversity, equity and inclusion goals.
The company spent a record $303.4 million in 2020 with diverse suppliers.
WEC Energy Group was recognized by the Milwaukee Business Journal with the 2021 Diversity in Business Award, in recognition of the company’s support for diversity and inclusion, both in the workplace and in supply chain.
Additional 2020 performance highlights
- Named one of America’s most responsible companies by Newsweek magazine.
- We Energies, the company’s largest utility, was named the most reliable in the Midwest for the 10th year in a row.
- Invested nearly $2.2 billion in the company’s core business to maintain reliability and improve customer service.
- Began commercial operation of Wisconsin’s first large-scale solar energy center.
- Provided $20 million of grants and donations to nonprofit organizations.
- Through refreshment of its board of directors, 50 percent are women or minorities.
The 2020 Corporate Responsibility Report and additional information on WEC Energy Group’s ESG efforts can be found online at https://www.wecenergygroup.com/csr/.
WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation’s premier energy companies, serving 4.6 million customers in Wisconsin, Illinois, Michigan and Minnesota.
The company’s principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a growing fleet of renewable generation facilities in the Midwest.
WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 41,000 stockholders of record, 7,200 employees and more than $37 billion of assets.
