Consolidated Edison, Inc. (ED) Environmental, Social, and Governance (ESG) Presentation (Transcript)

Consolidated Edison, Inc. (NYSE:ED) ESG Presentation Summary Company Overview - Consolidated Edison, Inc. is one of the largest investor-owned utilities in the U.S., providing electric, gas, and steam services to approximately 10 million people in New York City and surrounding areas [5][6] - The company delivers 44% of New York State's electricity and has a strong reliability record, with outage rates significantly lower than national averages [6][7] Key Points on Environmental, Social, and Governance (ESG) Initiatives Environmental Commitment - Con Edison is committed to leading the clean energy transition, with a focus on five main pillars: building a future grid, empowering customers, reimagining the gas system, reducing carbon footprint, and partnering with stakeholders [8][9][10] - The company plans to invest over $300 million in EV charging infrastructure and more than $1.5 billion in energy efficiency programs over the next two years [16] - By 2030, Con Edison aims to deliver 1,000 megawatts of battery storage and electrify 150,000 buildings, with a goal of being net zero by 2040 [16][17] Regulatory and Legislative Landscape - New York State's Climate Leadership and Community Protection Act (CLCPA) sets aggressive targets for a zero-emissions electricity sector by 2040 and economy-wide carbon neutrality by 2050 [13] - Local Law 97 mandates significant emissions reductions from large buildings, requiring compliance by 2024 and 2030 [14] Infrastructure and Investment - Con Edison is focusing on enhancing its electric grid to support renewable energy and electrification, with expected demand growth of 42% to 85% by 2050 [19] - The company is also investing in battery storage and transmission projects to facilitate the integration of renewable resources [25][27] Social Responsibility and Community Engagement - Con Edison has launched diversity, equity, and inclusion initiatives to attract and retain talent, with 52% of employees being people of color and 22% women [44] - The company is committed to equitable energy outcomes and has formed an environmental justice working group to ensure community engagement [42][43] Financial Outlook - An estimated $72 billion is required for clean energy transition investments in Con Edison’s service territory over the next decade, with $15.7 billion expected to be deployed by 2024 [47] - The sale of the CEBs for $6.8 billion will allow Con Edison to focus on its clean energy transition while continuing to serve its regulated utility customers [48] Risks and Challenges - Con Edison faces various risks, including regulatory changes, environmental impacts, and the need for significant capital investments to meet clean energy goals [3] - The company anticipates economic pressures on its gas delivery system as demand decreases, necessitating a strategic approach to maintain safety and reliability [56][57] Conclusion - Con Edison is positioned to play a critical role in New York's clean energy future, with a strong commitment to environmental sustainability, community engagement, and operational excellence [52][74]