As Dominion Energy considers the future of our strategic approach to sustainability, it is critical for us to understand what aspects of sustainability our stakeholders value – and which ones they value most.
For that reason, we conducted a Priority Sustainability Issue (PSI) assessment in 2020* in partnership with the Electric Power Research Institute (EPRI). This report endeavors to capture Dominion Energy’s actions in these critical areas.
The PSI assessment process involved detailed research and multiple rounds of direct engagement with both internal and external stakeholders — including customers, employees, investors, non-governmental organizations (NGOs), suppliers, and universities. First, an extensive review of internal and external literature was used to create a preliminary list of sustainability issues and accompanying descriptions. The list was then refined through engagement with company representatives and external stakeholders followed by additional stakeholder surveys to determine which sustainability issues should receive the highest priority in our reporting. Finally, the fully developed list of Priority Sustainability Issues was presented to the Dominion Energy leadership team for validation.
The matrix included in this report reflects the results of the process outlined above and compares the priority of the issue with its associated impact. Though the matrix suggests certain issues hold more importance than others, it is imperative to note that each issue is a priority for Dominion Energy and our stakeholders and influences the company’s sustainability strategy.
With the list of priority sustainability issues in mind, this report is structured to share insights on activities and initiatives underway to drive change on these stakeholder priorities. Further, we are evaluating our approach to these issues to ensure we are strategically continuing to improve our performance, commit to targets that matter, and transparently disclose on our progress.