Vistra Publishes 2023 Sustainability Report Highlighting Accelerated Portfolio Transformation & Responsible Decarbonization
IRVING, Texas, July 31, 2024 /PRNewswire/ -- Vistra (NYSE:VST) recently published its 2023 Sustainability Report, highlighting its leading role in the energy transition and expansion, including its growing zero-carbon portfolio, groundbreaking retail solutions, and a workplace driven by diverse ideas and teams.
"Our world is running on electricity now more than ever. Vistra is committed to meeting that growing demand and will lead as we both grow and transform our energy supply," said Jim Burke, Vistra president and chief executive officer. "The strides our team made in 2023 and laid out in this report reflect our unwavering commitment to reliability, affordability, and sustainability."
Select 2023 highlights include:
Environmental Stewardship
- Vistra achieved a 9% reduction in Scope 1 greenhouse gas (GHG) emissions year-over-year. Looking forward, Vistra has a clear path to hitting its 2030 emissions reduction target
- Vistra's generation fleet has now reduced SO2 emissions by nearly 90% since 2010, including a 44% drop from 2022
- Carbon intensity (Scope 1) from power generation continues to fall. With the inclusion of three acquired nuclear facilities, 2024 intensity forecast is 0.38 mt CO2e/MWh, representing a 31% improvement compared to 2022
Strategy & Innovation
- Rapidly advanced the transformation of our generation portfolio through additional battery storage, including the addition of 350 MW at our Moss Landing Energy Storage Facility and the 2023 announced acquisition of Energy Harbor's nuclear fleet, adding 4,000 MW of zero-carbon generation
- Vistra's landmark Retire and Renew program entered its next phase; the program is redeveloping former coal plant sites in Illinois to include utility-scale solar generation and battery energy storage; with these additions, Vistra expects to generate more than 1,000 GWh of solar annually by 2025
- Inaugural use of renewable energy certificates (RECs) and emission-free energy certificates (EFECs) to report on Scope 2 market-based emissions accounting
- As the first retail provider in ERCOT with a net metering plan, TXU Energy continued to lead the way in rooftop solar. Customer count grew 65% in 2023 with more than $10 million in solar credits paid out to customers
Inclusion & Human Capital Management
- Launched a series of action plans resulting from our 2022 companywide employee engagement survey, including new training opportunities and development tools to promote internal mobility
- Leaders from the vice president level to managers attended specialized training on inclusive leadership practices
- Grew to 15 Employee Resource Groups (ERGs) to serve Vistra's diverse employee base and continue recruiting top tier talent
- Began a series of monthly, small group discussions led by our chief diversity officer focusing on topics including age differences in the workplace and disability inclusion
Safety and Health
- Total recordable incident rate decreased more than 35% year-over-year
- Employees completed more than 58,000 safety training courses in 2023, with leaders performing more than 56,000 proactive safety engagements fleet-wide
- Implemented a contractor orientation program to ensure every on-site contractor is trained according to Vistra safety standards
Supporting our Communities and Customers
- Provided $5.3 million in energy bill assistance to Vistra retail customers through our signature Energy Aid program, which marked 40 years of serving customers in crisis
- TXU Energy's Beat the Heat program celebrated 25 years of helping Texans stay safe and cool with fan and air conditioner donations
- Invested $2.4 million in nonprofit organizations supporting critical community needs, economic development, and STEM education, among others
- Contributed $2 million in Vistra's fourth year of a five-year, $10 million commitment to support organizations focused on advancing economic and educational opportunities in minority and underserved communities
Responsible Business Practices
- Vistra's commitment to supply chain diversity resulted in a nearly 30% spending increase with third-party certified Diverse Business Enterprises and a 24% increase in small business spending; Selected as a "Best Corporation for Veteran Business Enterprise" by the National Veteran Owned Business Association (NaVOBA)
- Named as one of Time magazine's Best Companies for Future Leaders
- Continued implementation of the Business Roundtable's skills-based hiring initiative, emphasizing the value of skills, rather than just degrees, to lower barriers to internal mobility
- Recognized as one of the Best Places to Work for Disability Inclusion by Disability:IN
Vistra's 2023 report adheres to the Sustainable Accounting Standards Board (SASB) and Global Reporting Initiative (GRI) frameworks. The report also includes Vistra's voluntary annual report of its employee political action committee contributions, corporate contributions, and dues to trade organizations, which are in the appendix. For additional information about Vistra's 2023 ESG performance and to download a copy of the report, please visit vistracorp.com/sustainability.
About Vistra
Vistra (NYSE:VST) is a leading Fortune 500 integrated retail electricity and power generation company that provides essential resources to customers, businesses, and communities from California to Maine. Based in Irving, Texas, Vistra is a leader in the energy transformation with an unyielding focus on reliability, affordability, and sustainability. The company safely operates a reliable, efficient, power generation fleet of natural gas, nuclear, coal, solar, and battery energy storage facilities while taking an innovative, customer-centric approach to its retail business. Learn more at vistracorp.com.
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SOURCE Vistra Corp.