Pinnacle West has been recognized for leadership in corporate
sustainability by global environmental non-profit CDP, securing a place on
its prestigious ‘A List’ for a second consecutive year for tackling climate
change, as well as acting to protect water security.
Pinnacle West is shown as one of only four electric utilities worldwide
that achieved a double ‘A’, out of 5,800-plus businesses that were scored
based on data submitted through CDP’s questionnaires in 2020.
Through significant demonstrable action on climate change and water
security risks, Pinnacle West is leading on corporate environmental
ambition, action and transparency worldwide.
Arizona Public Service (APS), the principal subsidiary of Pinnacle West,
has set a bold aspirational goal to provide its customers with 100% clean,
carbon-free electricity by 2050. In support of this goal, APS is adding
battery energy storage to its utility-scale solar plants in the state,
helping provide “solar after sunset” to homes and businesses in Arizona.
Additionally, APS recently signed a power purchase agreement renewable for
200 megawatts of wind energy that will contribute to our diverse and
increasingly clean energy mix.
Pinnacle West also is committed to preserving the long-term quality and
availability of water resources. Its water resource strategic plan ensures
sufficient long-term water resources for its generating assets and promotes
effective, sustainable water supplies. The company reduced groundwater use in 2019 by 22% compared to a 2014 baseline—exceeding the goal of a 14% reduction.
“This recognition from CDP underscores our commitment and actions to create
a sustainable energy future for Arizona,” said Ann Becker, APS Vice
President of Sustainability. “We operate our business in the
water-constrained desert Southwest, giving us a unique perspective on the
importance of water security and maximizing our use of clean energy
resources like solar."
CDP’s annual environmental disclosure and scoring process is recognized as
the gold standard of corporate environmental transparency. In 2020, over
515 investors with over $106 trillion in assets and 150-plus major
purchasers with $4 trillion in procurement spend requested companies to
disclose data on environmental impacts, risks and opportunities through
CDP’s platform. Over 9,600 responded – the highest ever.
CDP uses a detailed and independent methodology to assess these companies,
allocating a score of A to D- based on the comprehensiveness of disclosure,
awareness and management of environmental risks and demonstration of best
practices associated with environmental leadership.
Paul Simpson, CEO of CDP, said: “We extend our congratulations to all the
companies on this year’s A List. Taking the lead on environmental
transparency and action is one of the most important steps businesses can
make, and is even more impressive in this challenging year marked by
COVID-19. The scale of the risk to businesses from climate change,
deforestation and water insecurity is enormous, and we know the
opportunities of action far outweigh the risks of inaction. Leadership from
the private sector will create an ‘ambition loop’ for greater government
action and ensure that global ambitions for a net zero sustainable economy
become a reality. Our A List celebrates those companies who are preparing
themselves to excel in the economy of the future by taking action today.”
The full list of companies that made this year’s CDP A List is available
here, along with other publicly available company scores:
https://www.cdp.net/en/companies/companies-scores