GlobalData offers a comprehensive analysis of Southern, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Southern‘s ESG performance. GlobalData’s company profile on Southern offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Southern, a leading energy company, has set a target to achieve net zero greenhouse gas (GHG) emissions by 2050 and aims for a 50% reduction in GHG emissions by 2030 compared to 2007 levels. According to sustainability report, in 2022, Southern observed a modest decline of 47% in emission reduction compared to 2021, attributable to heightened electricity generation linked to increased sales. Additionally, in 2022, the company's greenhouse gas emissions comprised 69% for scope 1, 31% for scope 3, and less than 1% for scope 2 of the total GHG emissions.
Currently, Southern's clean energy resources make up 30% of its electric generation energy mix. The company has been increasing its renewable resources and plans to have 18,000MW of renewable capacity online by 2030. It has already achieved a renewable capacity of 11,100MW in 2022. Additionally, Southern's nuclear power plant, Vogtle Unit 4, completed cold hydro testing, and Unit 3 completed safe loading of fuel.
Southern is actively engaged in various initiatives to reduce emissions. For instance, Georgia Natural Gas customers have offset more than 100 million pounds of carbon through the Greener Life program. Mississippi Power Company has announced a request for proposals for solar photovoltaic renewable energy projects. The company has also published the 2022 Just Transition Report, highlighting its commitment to transparency.
Furthermore, Southern has made significant investments in transmission and distribution infrastructure enhancements, as well as the construction of additional zero-carbon resources. The company has spent over $4 billion on these initiatives. It has also joined the Hydrogen Council and completed the installation of the Integrated Effects Test for the development of the Molten Chloride Fast Reactor.
In conclusion, Southern is dedicated to reaching net-zero emissions by 2050 and has made significant strides in diminishing both its carbon and greenhouse gas (GHG) emissions. With a growing share of clean energy resources and ongoing investments in renewable energy projects, the company is on track to meet its emission reduction targets. By actively engaging in various sustainability initiatives and partnerships, Southern is positioning itself as a leader in the transition to a sustainable and net-zero future.
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