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Climate change is one of the most challenging issues of our time, and Dominion Energy is committed to doing our part to reduce carbon and methane emissions. We are also helping our customers do the same.
We worked for two decades to diversify and transform our generation portfolio to support our low-carbon goals. Over the past decade we’ve made methane emission reductions through voluntary programs. We will continue transitioning our fleet and working to reduce carbon and methane emissions across our electric and natural gas infrastructure.
Bold New Targets
We set ambitious targets across our company to improve environmental performance. We have committed to cut carbon emissions from our power stations by 55 percent between 2005 and 2030, and by at least 80 percent between 2005 and 2050. We have committed to reduce methane intensity and total emissions from our natural gas businesses by 50 percent between 2010 and 2030.
Our Climate Report, published in 2018, provides an overview of our climate strategy, sustainability and climate governance, two-degree scenario, business risks and business opportunities related to the reduction of carbon emissions for Dominion Energy’s generation portfolio. The guiding concept behind this analysis is the “two degree” framework put forth in the Paris Agreement and the United Nations Framework for Climate Change Convention (UNFCCC) on which the agreement was built. Under the Paris Agreement, which became effective in 2016, the vast majority of countries around the world adopted a global response to the threat of climate change that entails keeping the increase in average global temperatures to less than two degrees Celsius below pre-industrial levels. The outcomes of the two-degree scenario analysis, in connection with our Climate Report, informed our carbon reduction goals.
A diverse energy mix coupled with a commitment to sustainability forms the foundation of our environmental strategy. Our commitment is to deliver safe, reliable, clean and affordable energy while fully complying with — if not going beyond — all applicable environmental laws and regulations. We are determined to create changes that improve our customers’ experience, exceed our stakeholders’ expectations and position our company for sustainable, agile and long-term success. Our integrated strategy to meet these objectives consists of three major elements:
- Reduction of carbon and methane emissions;
- Modernization of energy infrastructure, including natural gas and electric operations; and
- Conservation and energy efficiency.