AEP Part Of Industry Initiative To Improve ESG/Sustainability And Financial Reporting

12/4/2017 4:05:02 PM

(MENAFNEditorial) COLUMBUS, Ohio, Dec. 4, 2017 /PRNewswire/ -- American Electric Power (NYSE: ) is participating in a voluntary industry initiative to help provide electric industry investors with more uniform and consistent environmental, social, governance, and sustainability-related (ESG/sustainability) metrics. The company is incorporating the Edison Electric Institute's (EEI's) pilot ESG/sustainability reporting template into its long-term program of corporate accountability reporting.

"AEP has produced an integrated Corporate Accountability Report for the last eight years to provide a comprehensive view of our performance on key financial, environmental, social, governance and sustainability issues that are important to our shareholders, customers and other stakeholders," said Nicholas K. Akins, AEP chairman, president and chief executive officer. "We are pleased to see the industry focus on becoming a model for ESG/sustainability reporting and developing uniform industry reporting criteria. Our participation in this program will supplement our already robust reporting on these issues."

AEP was a member of the steering committee that helped lead the EEI ESG/sustainability reporting effort. A working group comprised of institutional investors who specialize in asset management, ESG/sustainability, investment banking, and buy-side and sell-side research as well as electric company officials from various disciplines, including accounting, environment, ESG/sustainability, finance, treasury, investor relations and legal developed the pilot metrics.

Over the past 18 months, AEP and other members of the working group helped EEI develop the template for the qualitative information, including ESG/sustainability governance and strategy, and quantitative information, including portfolio data, emissions, and human and natural resources, that investors are seeking. The template also helps to provide investors with more clarity on risks from stranded assets and regulatory issues, as well as opportunities for investments in clean energy.

AEP's 2016 report using the pilot template is available at . The program is expected to expand to additional electric industry participants in 2018.

American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP's more than 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.4 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 33,000 megawatts of diverse generating capacity, including 4,200 megawatts of renewable energy. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners and AEP Renewables, which provide innovative competitive energy solutions nationwide.

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SOURCE American Electric Power