ROSEMEAD, Calif .– (COMMERCIAL THREAD) – Edison International has published its Sustainability report for 2020, detailing the progress made in achieving long-term sustainability goals, successes and challenges encountered in executing its clean energy strategy, commitment and approach to advancing diversity, equity and inclusion and other disclosures and actions of interest to investors, regulators, customers and other stakeholders. The company also released its Sustainable financing framework, underlining its commitment to sustainable development and its intention to continue to align capital raising activities with the principles of sustainable development.
“Our framework underscores the close connection between our strategy and our fundraising activities,” said Pedro J. Pizarro, President and CEO of Edison International. “The wide array of financing tools enabled by the framework are part of our efforts to keep costs affordable for clients while meeting our sustainability goals, including reducing greenhouse gas emissions that contribute to change.” climate. ”
Edison International’s framework is aligned with the Green Bond Principles 2018 and Social Bond Principles 2020 of the International Capital Market Association and has received a second-party opinion from Vigeo Eiris. The financings will generate income to finance new projects or to refinance existing projects in four environmental categories (renewable energies, clean transport, energy efficiency and carbon reduction, or adaptation to climate change) or one social category (socio-economic progress and empowerment) .
Of the society Sustainable development report 2020 describes its commitment to tackling the impacts of climate change and, in particular, describes Southern California Edison’s continued work to deliver 100% carbon-free electricity in terms of retail sales by 2045 and to accelerate the electrification of the economy to most affordably meet California’s ambitious goals. economy-wide goal of net zero. Learn more about the report on Energized by Edison.
Among other accomplishments in 2020, Edison International’s main subsidiary, SCE, purchased 1,360 megawatts of energy storage and installed 1,442 new vehicle charging ports as part of its Charge Ready program. SCE has maintained the lowest system average rate among investor-owned California utilities, and its rates have risen less than Los Angeles-area inflation over the past 30 years.
The fight against climate change concerns everyone, utilities and energy users, including large companies. Edison Energy, the company’s unregulated competitive business, partners with leading commercial, institutional and industrial clients, including 15 of the Fortune 50, to help them navigate and manage three of the company’s biggest challenges. today: costs, carbon and increasingly complex energy choices. . Edison Energy advised clients on 2.2 gigawatts of renewable energy deals in 2020.
“We continue to adapt our business to climate change and its impacts as we invest in the power grid that is critical to resilience and meeting California’s carbon-free energy goals,” said Pizarro. “In addition, our commitment to diversity, equity and inclusion reflects the rich diversity of the regions we serve. We believe that our ability to lead the transformation of the electric power industry towards a clean energy future rests on the diversity of our team and on a company that enables everyone to thrive.
About Edison International
Edison International (NYSE: EIX) is one of the nation’s largest electric utility holding companies, providing clean, reliable power and energy services through its independent companies. Based in Rosemead, California, Edison International is the parent company of Southern California Edison Company, a utility that provides electricity to 15 million people in southern, central and coastal California. Edison International is also the parent company of Edison Energy, a global energy consulting company providing comprehensive, data-driven energy solutions to commercial and industrial users to meet their cost, sustainability and risk goals.