NRG Energy’s Sustainability Report for 2021
The following is a report from Mauricio Gutierrez, NRG Energy’s CEO on the company’s energy journey to a green tomorrow.
“2021 was a year that continued to test our collective strength and resolve. Like many of you, I started the new year with cautious optimism that our new normal would be just that—normal. Yet even through the many challenging circumstances that impacted our lives, I am inspired by the resiliency of our business, our people, and the customers and communities we serve.”
Despite headwinds, the NRG Energy was steadfast in meeting customer requirements and maintained clear focus.
While “we officially welcomed our new colleagues from Direct Energy and, instantly, expanded our core offerings with more products—like natural gas and home services—to a wider geographic footprint across the U.S. and Canada. Bringing together our two businesses was a critical step in further advancing our best-in-class consumer services platform”.
At the annual investor day, NRG Energy spelt out its ambition to become the first consumer services company in North America to provide a comprehensive energy and home services to both commercial as well as residential customers.
“Our strategic roadmap outlines our focus on growing our core energy business while also evaluating how to participate in adjacent and complementary services to meet the increasing needs of consumers. Now more than ever, the home is the center of our lives, and we will build on the trust we have earned with our customers, continuing to advocate for choice in the products and services that best suit their values and lifestyle, delivered affordably and with increasing sustainability attributes.”
“We also thoughtfully navigated a return to the workplace for our office-based employees. While not easy and never perfect, we welcomed back our colleagues across the country to a hybrid work environment with an eye toward maximizing flexibility and fostering collaboration. This means our workplace today looks much different than it did two years ago, and with that comes both opportunities and challenges. For me personally, it has been very rewarding to visit with our teams, connect in person once again, and see leaders mentoring new members of our team.”
At the same time, NRG Energy continued to remain committed in advancing its diversity, equity, and inclusion (DE&I) platform through programs that are “measurable in areas such as employee education, talent recruitment, and development.”
As a result, the company has once again emerged on top in terms of safety performance, reflecting the teams’ diligence in looking out for one another on a daily basis.
“I am also proud of how we came together to support non-profit organizations with more than 750 donations through our philanthropic arm, positiveNRG, and focused our volunteer efforts on food security through food donations and packaging meals for those in need.”
“We are making meaningful progress in creating a more sustainable business as we continue our path to net-zero by 2050. The Science-Based Targets initiative (SBTi) certified our carbon reduction goals as consistent with reductions needed to limit global warming to 1.5 degrees Celsius. We are the first and only North American company in our sector to receive this certification and the first in North America to issue a sustainability-linked bond, which ties our emissions reductions to interest rate benefits. Since 2019, our revenue carbon intensity has decreased by 64%, and coal generation represents less than 5% of our total revenues, which not long ago made up almost one-third.”
NRG Energy has reimagined its participation in the development of renewable energy. To date, it has contracted close to 2.6 GW of wind and solar generation with developers, effectively enabling them to access financing and start the construction of renewable energy projects.
Not one to rest on its laurels, the company recognises the importance of its accomplishments while continuing to push forward decarbonizing in its business.
“At NRG, we understand the significance of the responsibilities we have to you, our stakeholders. Whether supporting our employees and customers in the communities where we live and operate, caring for the environment, or being good stewards of shareholder capital, we will never hesitate to set ambitious goals. And importantly, we will continue to achieve them.”
“Core to that success is our comprehensive approach to sustainability, as it is central to not only our purpose but also our growth agenda as a consumer services company. I am incredibly excited for the next chapter in our evolution, and we are grateful for your continued interest, collaboration, and support.”
“2021 was a year that continued to test our collective strength and resolve. Like many of you, I started the new year with cautious optimism that our new normal would be just that—normal. Yet even through the many challenging circumstances that impacted our lives, I am inspired by the resiliency of our business, our people, and the customers and communities we serve.”
Despite headwinds, the NRG Energy was steadfast in meeting customer requirements and maintained clear focus.
While “we officially welcomed our new colleagues from Direct Energy and, instantly, expanded our core offerings with more products—like natural gas and home services—to a wider geographic footprint across the U.S. and Canada. Bringing together our two businesses was a critical step in further advancing our best-in-class consumer services platform”.
At the annual investor day, NRG Energy spelt out its ambition to become the first consumer services company in North America to provide a comprehensive energy and home services to both commercial as well as residential customers.
“Our strategic roadmap outlines our focus on growing our core energy business while also evaluating how to participate in adjacent and complementary services to meet the increasing needs of consumers. Now more than ever, the home is the center of our lives, and we will build on the trust we have earned with our customers, continuing to advocate for choice in the products and services that best suit their values and lifestyle, delivered affordably and with increasing sustainability attributes.”
“We also thoughtfully navigated a return to the workplace for our office-based employees. While not easy and never perfect, we welcomed back our colleagues across the country to a hybrid work environment with an eye toward maximizing flexibility and fostering collaboration. This means our workplace today looks much different than it did two years ago, and with that comes both opportunities and challenges. For me personally, it has been very rewarding to visit with our teams, connect in person once again, and see leaders mentoring new members of our team.”
At the same time, NRG Energy continued to remain committed in advancing its diversity, equity, and inclusion (DE&I) platform through programs that are “measurable in areas such as employee education, talent recruitment, and development.”
As a result, the company has once again emerged on top in terms of safety performance, reflecting the teams’ diligence in looking out for one another on a daily basis.
“I am also proud of how we came together to support non-profit organizations with more than 750 donations through our philanthropic arm, positiveNRG, and focused our volunteer efforts on food security through food donations and packaging meals for those in need.”
“We are making meaningful progress in creating a more sustainable business as we continue our path to net-zero by 2050. The Science-Based Targets initiative (SBTi) certified our carbon reduction goals as consistent with reductions needed to limit global warming to 1.5 degrees Celsius. We are the first and only North American company in our sector to receive this certification and the first in North America to issue a sustainability-linked bond, which ties our emissions reductions to interest rate benefits. Since 2019, our revenue carbon intensity has decreased by 64%, and coal generation represents less than 5% of our total revenues, which not long ago made up almost one-third.”
NRG Energy has reimagined its participation in the development of renewable energy. To date, it has contracted close to 2.6 GW of wind and solar generation with developers, effectively enabling them to access financing and start the construction of renewable energy projects.
Not one to rest on its laurels, the company recognises the importance of its accomplishments while continuing to push forward decarbonizing in its business.
“At NRG, we understand the significance of the responsibilities we have to you, our stakeholders. Whether supporting our employees and customers in the communities where we live and operate, caring for the environment, or being good stewards of shareholder capital, we will never hesitate to set ambitious goals. And importantly, we will continue to achieve them.”
“Core to that success is our comprehensive approach to sustainability, as it is central to not only our purpose but also our growth agenda as a consumer services company. I am incredibly excited for the next chapter in our evolution, and we are grateful for your continued interest, collaboration, and support.”
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