Vistra published today its 2019 Annual Sustainability Report, which adopts for the first time the Sustainable Accounting Standards Board (SASB) and Global Reporting Initiative (GRI) frameworks. In addition, the report highlights Vistra’s environmental, social, and governance (ESG) initiatives and accomplishments for the 2019 reporting period, including:
- Achieving a 39% reduction in greenhouse gas emissions since 2010, meaning that Vistra has realized 78% of its target to reduce Scope 1 CO2 equivalent emissions by more than 50% by 2030.
- Retiring four coal plants totaling approximately 2,000 megawatts (MWs) in Illinois and announcing plans to retire a fifth coal plant of 585 MWs by year-end 2022, which will further advance Vistra’s progress toward its 2030 emissions reduction target. Vistra has retired nearly 13,000 MWs of coal-fueled plants since 2010 and plans to retire an additional approximately 7,000 MWs before 2030.
- Joining as a founding member the Climate Leadership Council (“CLC”), an international policy institute created in collaboration with prominent business, opinion, and environmental leaders to promote a carbon dividends framework as the most cost-effective, equitable, and politically viable climate solution.
- Introducing a new name, logo, and motto for the company’s mindset around safety: Best Defense, which was derived from guidance by national workplace safety expert Dr. Todd Conklin, who has said, “Safety is not the absence of events. Safety is the presence of defenses.”
- Implementing, in 2020, early adoption of a variety of new procedures to keep our employees and contractors safe while maintaining our essential business operations in the wake of COVID-19. After 86 spring power plant maintenance outages, Vistra has not had one employee or contractor become infected with the COVID-19 virus at its work sites.
Renewable and No-Carbon Energy
- Continuing development of nearly 450 MWs of battery storage and with a pipeline of approximately 3,000 MWs of additional solar and battery storage projects in Texas and California.
- Supporting Coal to Solar and Energy Storage Act in Illinois, including converting coal generation sites to solar and energy storage, advancing the state’s clean energy goals, and benefiting multiple downstate Illinois communities.
- Offering more than 40 renewable-based plans to our retail electricity customers.
- Introducing a 10-year view of the company, estimating that nearly 20% of Vistra’s EBITDA and generation capacity will be derived from renewable assets by 2030.
Caring for Our Communities
- Supporting our local communities across 11 states with more than $3.5 million in charitable giving in 2019.
- Donating $2 million to communities in need in 2020 in light of hardships brought on by COVID-19 through donations to non-profits and social service agencies.
“The importance of electricity has never been more pronounced than it is today. Vistra is committed to providing affordable and reliable power to our nearly 5 million retail customers while also minimizing our impact on the environment, supporting our customers and the communities where we operate, and keeping our employees safe and healthy,” said Curt Morgan, Vistra’s president and CEO. “Since becoming a public company in 2016, Vistra has transformed its electricity generation portfolio from one that produced 70% of its output from coal to one that contributes less than 20% of its earnings from coal while also investing heavily in solar and battery storage facilities, with more to come. We are committed to being a leader in the climate change effort and have our sights set on reaching net-zero carbon emissions by 2050, which can be achieved through the continued rotation of our generation base, supportive public policy, and technological advancements.”
In addition to being an industry leader in the effort to address climate change, Vistra strives for excellence in employee safety, supply chain and employee diversity, community impact, and the customer experience. Vistra’s 2019 Annual Sustainability Report addresses these topics and more. For additional information about our 2019 ESG initiatives and to download a copy of the report, please visit the Vistra website at vistraenergy.com/sustainability.