NRG Vitality 2021 Sustainability Report: Sustainable Finance

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Initially printed on NRG Vitality Sustainability

SUSTAINABLE FINANCE

In August 2021, NRG issued a further $1.1 BN of sustainability-linked bonds (SLBs) on the again of its landmark 2019 and 2020 sustainability-linked issuances.

In 2019, NRG turned the second U.S.-based energy firm to take out a sustainability-linked mortgage (SLL). This SLL embeds a pricing mechanism linked to particular sustainability metrics. Any such financing, which has turn into extra prevalent, demonstrates how company accountability can turn into a part of long run monetary planning.

In December 2020, NRG issued $900 million of senior secured first lien bonds in a landmark issuance, pioneering the primary SLBs in North America, and the primary issued by any vitality firm exterior Europe. In live performance with our acquisition of Direct Vitality, the SLBs assist our effort to pursue development, obtain our local weather transition technique, and produce rising worth to our stakeholders. As a complement to the sustainability-linked pricing metric included within the SLL in 2019, the issuance of the SLBs aligns our enterprise and financing with our commitments and values by making a direct hyperlink between local weather and funding methods. The SLBs hyperlink engaging financing to the belief of beforehand introduced objectives to attain a 50% discount of absolute GHG emissions by 2025 from our present 2014 baseline and attain net-zero GHG emissions by 2050. To be taught extra about how the bonds match our technique and produce our sustainability and monetary objectives collectively, learn our SLB Framework right here.

ENGAGING ON POLICY

All through 2021, we’ve continued participating with policymakers at each state and federal ranges.

When potential, we collaborate with teams targeted on clear vitality entry and local weather options. Usually, we interact on legislative and regulatory actions designed to mitigate greenhouse fuel emissions and are most lively within the debate aimed toward defending and increasing aggressive energy markets and shopper selection. Study extra about our coverage engagement efforts and our coverage positions.

NRG collaborates with coverage advocacy organizations together with:

This 12 months, we evaluated the local weather positions of sure membership organizations to which we belong. We imagine that both (i) they have been in alignment with the Paris Local weather Settlement or (ii) didn’t have a local weather place. Our evaluation was printed in our inaugural Trade Affiliation Local weather Overview which we’ll replace yearly.

INNOVATION

As an lively supporter of the climate-tech group, we’re figuring out and supporting applied sciences and companions that would help each within the decarbonization of our enterprise and assist our clients obtain their local weather objectives.

CARBON XPRIZE

  • Sponsored by NRG and Canadian Oil Sands Innovation Alliance (COSIA)

Carbon XPRIZE

NRG partnered with Canadian Oil Sands Innovation Alliance (COSIA) and XPRIZE in 2015 to create a five-year world competitors toaddressrisingCO2emissionsbychallenging innovators world wide to develop breakthrough applied sciences that convert as a lot CO2 as potential into merchandise with the very best web worth. Via partnerships like these, we’re supporting the creation of local weather know-how and extra sustainable options. The competitors winners – CarbonCure Applied sciences and CarbonBuilt – have been chosen by an impartial panel of judges and introduced in April 2021. Each corporations developed applied sciences that use CO2 within the manufacturing of concrete, thereby lowering its carbon footprint.

GREENTOWN LABS

  • Founding Sponsor, Houston Enlargement

RICE ALLIANCE FOR TECHNOLOGY AND ENTREPRENEURSHIP (RICE ALLIANCE)

  • Founding Supporter, Rice Alliance Clear Vitality Accelerator

CARBON-TO-VALUE (C2V)

  • Founding Member and a part of Carbontech Management Council (CLC)

Lastly, NRG participates in a number of multi-stakeholder group consortia working to scale varied decarbonization pathways.

EVOLVE HOUSTON

THE RICE UNIVERSITY CARBON HUB

  • Member, Carbon Advisory Panel

H2HOUSTON HUB

HOUSTON CCS HUB

THE GREATER HOUSTON PARTNERSHIP ENERGY 2.0, ENERGY ADVISORY, AND HOUSTON ENERGY TRANSITION INITIATIVE STEERING COMMITTEES

THE UNITED STATES BUSINESS COUNCIL ON SUSTAINABLE DEVELOPMENT

  • Founding member,
  • Gulf Coast Carbon Collaborative

UNIVERSITY OF HOUSTON CENTER FOR CARBON MANAGEMENT IN ENERGY (CCME) – SOUTHERN STATES ENERGY BOARD (SSEB)

  • CCUS Commercialization Effort

THE RICE UNIVERSITY BAKER INSTITUTE CENTER FOR ENERGY STUDIES

  • Working Group on Carbon Seize, Use, and Sequestration (CCUS) and Hydrogen

To be taught extra about NRG Vitality’s commitments to sustainability, obtain the 2021 Sustainability report right here.

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NRG Vitality

NRG Vitality

At NRG, we’re bringing the facility of vitality to folks and organizations by placing clients on the middle of every thing we do. We generate electrical energy and supply vitality options and pure fuel to tens of millions of shoppers by our numerous portfolio of retail manufacturers. A Fortune 500 firm, working in america and Canada, NRG delivers progressive options whereas advocating for aggressive vitality markets and buyer selection, working in direction of a sustainable vitality future.

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