Constellation scores as top-rated energy company in annual ranking that grades businesses on a variety of environmental, social and governance measures
BALTIMORE--(BUSINESS WIRE)--Constellation (Nasdaq: CEG), the nation's largest producer of carbon-free energy, ranked ninth in Barron's seventh annual 100 Most Sustainable Companies list, which measures the largest 1,000 publicly traded U.S. companies using 230 environmental, social and governance criteria ranging from workplace diversity to greenhouse-gas emissions. Constellation, making its debut on the list this year, achieved the highest score of any energy company. Barron's worked with Calvert Research and Management, a leader in responsible investing, to compile the rankings.
Being recognized by Barron's as one of the nation's top 10 most sustainable companies reinforces both our purpose of accelerating the transition to a carbon-free future and our efforts to foster a diverse and inclusive workplace culture, said Kathleen Barrón, executive vice president and chief strategy officer, Constellation. As the nation's largest producer of clean nuclear energy, we embrace our role of ensuring that electricity remains reliable and affordable for the millions of Americans who rely on us every day to keep their families and businesses thriving.
For the 10th consecutive year, Constellation was the nation's largest producer of clean, carbon-free energy and boasted the lowest rate of carbon dioxide emissions among the 20 largest private, investor-owned power producers in the United States, according to an independent analysis based on publicly reported 2021 air emissions data. With annual output that is nearly 90% carbon-free, the company has continued to invest in and expand its fleet of carbon-free generation by:
- Acquiring a partial ownership stake in the South Texas Project Nuclear Plant
- Committing $800 million for equipment upgrades at two of its Illinois clean energy centers to generate an additional 135 megawatts of reliable, carbon-free energy
- Launching a $350 million project to repower its wind fleet, enabling it to generate 35% more zero-carbon energy
Constellation's suite of commercial clean energy solutions has helped its large business customers advance their own sustainability and climate goals. In 2023, Constellation began offering its hourly carbon-free energy (CFE) matching product, which matches customer energy use with clean energy produced at the time and place it is needed. Microsoft (NASDAQ:MSFT), which helped design the technology to achieve hourly matching, and Chicago utility ComEd, are leveraging the product to reach actual zero emissions for their operations.
The company continues to grow its workforce diversity by sourcing talent with an enhanced focus on diverse populations through relationships, technology and inclusive practices. Constellation has built and expanded partnerships with organizations such as Disability:IN, Recruit Military, Society of Women Engineers and National Society of Black Engineers. It also supports nine employee resource groups (ERGs) that are open to all employees to share experiences and connect with colleagues. More than 5,000 employees participate in at least one ERG, and there are over 67 chapters spread across the company.
Constellation delivered significant community impact on 2023, contributing $18.7 million in combined philanthropic giving in support of more than 4,400 charities nationwide. Eighty-one percent of the company's $8.1 million in direct grant funding supported organizations, programs or events that served diverse populations. Constellation employees also logged more than 102,000 volunteer service hours in 2023.
The company also advanced its signature workforce development initiative, Powering Change, in which it partners with regional and national nonprofit organizations dedicated to breaking down employment barriers for people in historically underserved and underrepresented communities. Its inaugural Youth Energy Summit and longstanding Energy to Educate grant program collectively helped to bring STEM education and exploration of energy careers to thousands of students nationwide.
Constellation, which was certified by Great Place To Work ® in 2023, also received the Community Partnership Award from The Center for Energy Workforce Development (CEWD) for its work in building a skilled energy workforce that represents the diverse communities it serves.
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. Follow Constellation on LinkedIn and Twitter.
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Dave Snyder
Constellation Communications
667-218-7700
david.snyder@constellation.com
Source: Constellation Energy Corporation