Annual report highlights progress toward our commitments and customer-driven opportunities for the future
NEW ORLEANS, April 12, 2022 /PRNewswire/ — Entergy released its 2021 Integrated Report, an assessment of the company’s environmental, social, governance and financial performance for the year. The report, titled “The future is on,” provides all our stakeholders with a more complete picture of the value we place on our commitments, progress on our goals, and the opportunities we see in 2022 and beyond.
“Powering the lives of our customers and communities is an essential responsibility,” said Leo Denault, chairman of the board and CEO of Entergy. “However, our job doesn’t end there. We hold ourselves accountable to create meaningful value that endures for all our stakeholders. As we look forward in 2022 and beyond, the future is on. There is unmatched resilience and capability among our team of approximately 12,500 employees to address the significant and unique opportunities ahead.”
Entergy is a leader in the utility industry on environmental, social and governance performance metrics. Key drivers of our sustainability strategy and 2021 performance include:
- Partnering with our customers. We’re enhancing our ability to help our customers achieve their goals and aspirations. We stood up a new customer organization to partner with our customers and develop new solutions to meet their reliability, affordability and environmental goals. We also created a new Sustainable Planning, Development, and Operations organization to drive greater strategic direction and collaboration in addressing our customers’ sustainability needs.
- Expanding our clean energy generation. We operate one of the cleanest large-scale utility generation fleets in the nation, including more than 5,000 megawatts of carbon-free nuclear power, a fleet of highly efficient gas resources and a fast-growing portfolio of renewable energy resources. We are expanding our renewable energy solutions to serve our customers and communities across the Gulf South region. We expect 11,000 megawatts of renewable capacity by the end of 2030, more than doubling our previous power supply plan estimate from just two years ago.
- Leading the way on environmental stewardship. We’re progressing toward our commitment of achieving net-zero carbon emissions by 2050. Our utility carbon emission rate has decreased approximately 39% since 2000. We anticipate we will achieve our interim 2030 goal of 50% reduction in utility emission rate years earlier than planned. We’re also advancing our environmental stewardship work to protect our natural resources and biodiversity, conserve water use, and address climate issues, including the reduction of carbon emissions across our value chain.
- Delivering on our financial commitments. We delivered again last year on our financial commitments and finished with a strong financial foundation. Our 2021 adjusted earnings per share of $6.02 was in the top half of our guidance range for the sixth year in a row. This represents a 6.5% compound annual growth rate over the past five years. Additionally, we maintained solid liquidity throughout the year, and our reduced risk attributed to exiting the wholesale merchant business and improved funding status of our pension obligations, among other items, was acknowledged by Moody’s Investor Services when it reduced our cash flow metric threshold.
- Cultivating a workforce that includes everyone. Building a diverse, inclusive workforce where every employee belongs and contributes is critical to our goal of reflecting the culture-rich communities we serve. Last year, we established a new Diversity and Workforce Strategies organization that aligned several teams to better execute our comprehensive diversity, inclusion and belonging strategy. And we’ve demonstrated a growing commitment to using diverse companies for products and services, spending $1.3 billion with diverse firms last year.
- Developing sustainability solutions and growth opportunities. Our large number of commercial and industrial customers provide a unique growth opportunity to partner with them to design and deliver effective solutions for their specific sustainability needs. Many of these customers have defined environmental and carbon reduction goals for their businesses. We estimate these goals will drive an additional 30 terawatt hours of annual electric load growth by the end of 2030.
- Working for all stakeholders. Our approximately 12,500 employees are dedicated to working for all our stakeholders. We continue to execute a fundamentally solid business plan, meeting challenges head-on and working tirelessly to deliver on our commitments. We have also been successful in creating value in our communities. Last year, our volunteers logged more than 100,000 hours of their time and we delivered more than $128 million in value to our communities through philanthropy, advocacy and volunteerism. Finally, despite last year’s external challenges, we delivered on our financial commitments while achieving steady, predictable financial growth.
Entergy was the first U.S. electric utility to combine our annual shareholder report with our sustainability report in 2013. Today, we are one of only a few leading U.S. companies to consolidate these reports into a single integrated report that measures our advancements in energy delivery and innovation, financial performance, environmental stewardship, social responsibility, governance, workforce development and community investments. Our 2021 report relies on the guidance of the Global Reporting Initiative, the world’s most widely used sustainability reporting framework.
View our 2021 Integrated Report and learn how we power life for all stakeholders at integratedreport.entergy.com.
About Entergy
Entergy (NYSE: ETR), a Fortune 500 company headquartered in New Orleans, powers life for 3 million utility customers across Arkansas, Louisiana, Mississippi and Texas. Entergy is creating a cleaner, more resilient energy future for everyone with our diverse power generation portfolio, including increasingly carbon-free energy sources. With roots in the Gulf South region for more than a century, Entergy is a recognized leader in corporate citizenship, delivering more than $100 million in economic benefits to local communities through philanthropy and advocacy efforts annually over the last several years. Our approximately 12,500 employees are dedicated to powering life today and for future generations. Learn more at entergy.com and follow @Entergy on social media. #WePowerLife
Forward-looking information
Entergy’s statements concerning its environmental plans, goals, beliefs and expectations, including statements regarding its greenhouse gas reduction goals, and other statements of Entergy’s plans, beliefs, or expectations included in this presentation are “forward-looking statements” which apply only as of the dates indicated. Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including, among other things, uncertainties associated with regulatory proceedings and other cost recovery mechanisms, operation and relicensing of nuclear facilities, major storms and other catastrophic events, risks associated with executing on our business strategies, effects of changes in laws, regulations or policies, the effects of technological change, including the costs, pace of development and commercialization of new and emerging technologies, uncertainties and other factors discussed in Entergy’s most recent Annual Report or Form 10-K and subsequent reports and filings made under the Securities Exchange Act of 1934.
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SOURCE Entergy Corporation
