FirstEnergy Corp has announced a pledge to achieve carbon neutrality by 2050. The company also set an interim goal for a 30% reduction in greenhouse gases within the company's direct operational control by 2030, based on 2019 levels. The company said it wants to build a more climate-resilient energy system and support the transition to a carbon-neutral economy.
FirstEnergy's "Climate Position and Strategy Statement" outlines the company's business-wide plans to mitigate risks from climate change, reduce greenhouse gas emissions, and enable its customers and communities to thrive in a carbon-neutral economy. Actions to achieve these goals include:
Oversight, accountability, and risk mitigation for the climate policy will be provided by an executive steering committee in partnership with the Board and company leadership.
In 2015, FirstEnergy announced plans to achieve a 90% reduction in CO2 emissions from 2005 levels by 2045. To date, the company has reduced CO2 emissions by approximately 80% by implementing new technologies and retiring or transferring generation assets. The new goals represent an expansion of this target and reflect FirstEnergy's transformation to a fully regulated utility.
Just last year, FirstEnergy issued a Request for Proposal (RFP) to purchase both Ohio-compliant Solar Renewable Energy Credits (SRECs) and Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, The Illuminating Company and Toledo Edison.