Dominion Energy sets zero-emissions by 2050 goal
Dominion Energy is committing itself to achieving net zero emissions from electricity generation and gas infrastructure operations by 2050.
“Our mandate is to provide reliable and affordable energy – safely,” Thomas F. Farrell, II, chairman, president and chief executive officer, said. “We do that every day, all year long. But we recognize that we must also continue to be a leader in combatting climate change. Our employees have always been problem-solvers in the work we do for our customers. I am confident we can use this same mindset to help solve this challenge and leave the world a better place for future generations.”
Dominion had previously committed to cut methane emissions from its natural gas operations by 50 percent between 2010 and 2030 and carbon emissions from its power generating facilities by 80 percent between 2005 and 2050.
Progress toward those goals has been significant, as Dominion has cut carbon emissions approximately 50 percent since 2005 and reduced methane emissions by nearly 25 percent since 2010.
“Dominion Energy already has made important progress on emissions. This new commitment sets an even higher bar that I am confident we can – and will – reach. Net zero emissions will be good for all of our stakeholders – for our customers, communities, employees and investors,” Farrell said.
Under the strengthened emissions framework, the company will focus not only on driving toward the 2050 goal, but on achieving near-term progress, particularly on methane, which is a more potent greenhouse gas than carbon. Under the net zero framework, the company is committing to decrease methane emissions by 65 percent by 2030 and 80 percent by 2040, from 2010 levels.
Dominion has also committed to invest in carbon-beneficial renewable natural gas (RNG) projects that will capture an amount of methane from U.S. farms at least equivalent to any remaining methane and carbon dioxide emissions from the company’s natural gas operations, making Dominion’s gas infrastructure area net zero 10 years before the overall company.