FY 2021 Sustainability Report
TVA Sustainability. Today. Tomorrow. Together.
Q&A with Our Chief Sustainability Officer What does sustainability mean for TVA as the nation’s largest public power provider?
What is TVA doing to reduce its carbon emissions?
TVA’s public power model takes into account a broad view of the needs of people, which is the core of a sustainable company. Instead of being focused on shareholder profit, TVA reinvests back into the Valley’s infrastructure, environment and people. You hear the terms “sustainability” and “ESG” in many corporate circles as including a company’s environmental, social and economic impacts and opportunities. Our mission of service has always included these.
Climate change is one of the major challenges that our nation and the world face today, and it must be responded to with innovation and urgency. Using effective planning and technologies available today, we have a plan to achieve 70% reduction in carbon emissions by 2030 and a path to ~80% by 2035. We aspire to achieve netzero carbon emissions by 2050. Establishing aspirational targets is important because the gap between the aspirational targets and what’s currently feasible drives innovation. We are a national leader in carbon reduction, but we aim to go further, faster.
Our clear purpose of service to the Valley provides us a business advantage. Our durable mission inspires one of the best workforces in the country; and it puts us in a position of partnership with our customers and stakeholders where we serve together to find solutions. The annual Sustainability Report is a place for TVA to report on the broad value of our teams’ work and to set forth our path to bring value long into the future.
Given its unique mission, how does TVA engage with stakeholders? Partnerships and engagement are vital to moving forward. From working with stakeholders to drive the adoption of electric vehicles in the Valley to spearheading initiatives to enhance collaboration as partners navigate market transformation, TVA is committed to stakeholder engagement. We also conduct specific activities at our facilities or within our transmission territory that impact communities. We hold numerous public meetings and have open public comment periods to provide information and receive public input. We listen as stakeholders identify their sustainability priorities, and we discuss ways TVA can help create positive change.
We are collaborating with the industry and federal agencies to determine how we can accelerate that while also balancing the critical dimensions of energy service: cost, reliability, resiliency and carbon reduction. Rebecca Tolene is TVA’s Vice President, Environment, and Chief Sustainability Officer. She leads efforts around carbon reduction, utility sustainability and environmental performance. We wanted to ask her the questions we receive most often about TVA and its sustainability efforts.
At TVA we are outcome focused. We have a shared outcome that many stakeholders are working to achieve: a cleaner energy future – one that continues to prioritize cost, reliability and resiliency as we transition to innovative energy solutions. That’s why we’re investing in a menu of options — new nuclear, energy storage, connected communities, an extensive hydro fleet and expanding renewables on our system. We’re also partnering with 153 local power companies across seven states to increase renewables on their systems as well.
Why is natural gas – a fossil fuel – part of TVA’s clean energy transition plan? Natural gas is a key part of our transition to net-zero carbon emissions and helps TVA ensure system reliability
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during the upcoming generation changes. Natural gas has far lower emissions than coal and is a flexible partner to the solar generation we are bringing onto the system today. It is ready to dispatch when the sun isn’t shining and will support bringing the new generation technologies that are needed to reach net-zero online. There is also ongoing work to reduce or eliminate carbon emissions of natural gas in the future through reducing flaring and minimizing methane leaks in gas pipelines, carbon capture technologies, and the possibilities of renewable natural gas or hydrogen blends. We have an obligation to serve — and ensure the lights stay on. Our customers and the broader economy expect that of TVA — and frankly, of the larger utility industry. So, when renewables aren’t available, natural gas will be available to ensure that reliable, resilient service is available to power our communities until additional carbon-free technologies can be developed and commercialized. 5
