executive-letter

Updated: April 2020

This January, we set a bold goal to provide 100% clean, carbon-free electricity to our customers by 2050. We’re committed to achieving this goal while maintaining reliable service and affordable rates for customers. Getting the balance right – clean, reliable, affordable – is central to achieving our vision of a sustainable energy future for Arizona.

Our web-based Corporate Responsibility Report walks you through a variety of our company’s activities that support our sustainable future. The content is organized around the principles of ESG: environment, social and governance.

Under Environment, you’ll see that we launch our clean energy commitment from a strong starting point, with an energy mix that is already 50 percent clean. We operate the nation’s most powerful carbon-free, clean energy resource – the Palo Verde Generating Station – and our customers benefit from one of the country’s largest solar fleets. In 2019, Pinnacle West was recognized as one of the world’s Top 100 Green Utilities by Energy Intelligence. In addition, we were named to the CDP “A Lists” for Climate Change and Water Security, the only electric utility and just one of ten U.S. companies with A’s in both categories.

On the Social side, customers are at the heart of everything we do. Two new initiatives – a customer advisory board and the CARE team (a group of advisors who will hold customer service open houses in the communities we serve) – will help strengthen our outreach to customers. Customer technology programs, such as Solar Communities and Cool Rewards’ smart thermostats, are providing access to technologies that help customers manage their energy usage.

Strong communities and economic vitality here in Arizona are critical to our long-term success. Working with community partners in economic development, we helped attract 35 new and expanding companies to our service territory, creating around 4,125 new jobs. Our employees volunteered an estimated 90,000 hours with local nonprofits and donated more than $2.4 million through our Community Services Fund. In 2019, the Maricopa County NAACP named us Corporation of the Year in recognition of our company’s corporate citizenship and work to promote equality, and we signed the UNITY Pledge calling for LGBTQ inclusive non-discrimination policies in the workplace, housing and public accommodations.

In the Governance space, our board of directors provides sustainability oversight through the Nuclear and Operating Committee. The Code of Ethics guides our conduct, and our Core defines our values and critical areas of focus. Each year our Strategic Plan ensures diverse business units are aligned and pulling together to achieve our top tier goals. The Integrated Resource Plan and Clean Energy Pathways report are two ways we will provide transparency to stakeholders as we evaluate and respond to evolving risks and opportunities in our sector.

Our clean energy commitment is ambitious, and we aren’t waiting for tomorrow to take action. The steps we take today and the partnerships we build with our customers, regulators and stakeholders will help support a healthy environment, a vibrant economy and strong communities for generations to come. We invite you to dig in to this report and discover the ways we are working to secure a bright and clean future for Arizona.

Jeff Guldner

Jeff Guldner
Chairman, President & Chief Executive Officer
Pinnacle West Capital Corporation

Ann Becker

Ann Becker
Vice President, Sustainability
Arizona Public Service Company

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