Climate Change Data

Constellation Energy Corporation

Climate Impact & Sustainability Data (2021, 2022, 2023)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:8,254 thousand metric tons CO2e
Scope 1 Emissions:8,254 thousand metric tons CO2e
Scope 2 Emissions:409 thousand metric tons CO2e (location-based), 94 thousand metric tons CO2e (market-based)
Scope 3 Emissions:93,647 thousand metric tons CO2e
Renewable Energy Share:817 GWh (2021)
Total Energy Consumption:51,945 GWh
Water Consumption:53,485,702 Megaliters (withdrawal)
Carbon Intensity:0.441 thousand metric tons CO2e / million USD revenue (2021, location-based)

ESG Focus Areas

  • Climate Change
  • Diversity, Equity, and Inclusion (DEI)
  • Community Engagement
  • Corporate Governance
  • Supply Chain Management

Environmental Achievements

  • Reduced emissions footprint by 80 percent since 2005
  • Avoided almost 1.7 million metric tons of CO2e from renewable energy plants in 2021 and close to 72.7 million metric tons of CO2e from nuclear plants in 2021.
  • Completed work at the Marine Corps Logistics Base Albany in Georgia, the first DOD installation to achieve net-zero energy.

Social Achievements

  • Provided $5.2 million to more than 1,000 nonprofits across 31 states in 2021
  • Employees donated an additional $5 million and 64,800 hours of volunteer time in 2021
  • 84 percent of Constellation’s giving went to organizations and programs that target diverse and underrepresented populations.

Governance Achievements

  • Established a DEI Center of Excellence focused on racial and gender equity
  • Implemented a comprehensive ethics and compliance program
  • Achieved 99 percent employee completion of Code of Business Conduct training and compliance certification.

Climate Goals & Targets

Long-term Goals:
  • Generate 100% clean energy by 2040
  • Reduce operational emissions by 100% by 2040
Medium-term Goals:
  • Generate 95% clean energy by 2030
  • Reduce operations-driven emissions by 65% by 2030
  • Reduce methane emissions by 30% from 2020 baseline by 2030
Short-term Goals:
  • Provide carbon emissions reports to all C&I customers by end of 2022

Environmental Challenges

  • Supply constraints in Texas causing increased reliance on gas assets
  • Climate change impacts on water availability and extreme weather events affecting generation and transmission
  • Sophisticated physical security and cybersecurity threats.
Mitigation Strategies
  • Exploring direct air capture (DAC) technology
  • Implementing sustainable water management practices
  • Investing in robust safety systems and proactive communication for emergency response
  • Implementing cybersecurity measures and isolating critical systems from the internet.

Supply Chain Management

Responsible Procurement
  • Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
  • Drought-like conditions limiting water usage
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Development of energy-efficient products
  • Expansion of clean energy solutions

Reporting Standards

Frameworks Used: GRI Standards, SASB Electric Utilities and Power Generators Standard

Certifications: ISO 14001:2015

Third-party Assurance: Lloyd’s Register Quality Assurance, Inc. (LRQA)

UN Sustainable Development Goals

  • Goal 7: Affordable and Clean Energy
  • Goal 9: Industry, Innovation and Infrastructure
  • Goal 11: Sustainable Cities and Communities
  • Goal 13: Climate Action
  • Goal 10: Reduced Inequalities

Constellation's business and sustainability activities indirectly address nearly all 17 SDGs; however, the report focuses on these five priority SDGs that most directly align with its business strategy.

Sustainable Products & Innovation

  • Hydrogen production
  • Direct air capture (DAC) technology
  • 24/7/365 energy matching technology

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:9.11 million metric tons of CO2e (Scope 1) + 325,000 metric tons of CO2e (location-based Scope 2) + 45,000 metric tons of CO2e (market-based Scope 2) + (Scope 3 data not explicitly stated)
Scope 1 Emissions:9.11 million metric tons of CO2e
Scope 2 Emissions:370,000 metric tons of CO2e
Renewable Energy Share:Approximately 10% of the nation’s carbon-free energy
Water Consumption:47 million megaliters (withdrawal)
Carbon Intensity:Almost four times less than nearest U.S. industry peer.

ESG Focus Areas

  • Climate Change
  • Diversity, Equity, and Inclusion
  • Governance
  • Community Engagement
  • Supply Chain Sustainability

Environmental Achievements

  • Avoided approximately 123 million metric tons of carbon emissions in 2022 through nuclear fleet operation.
  • Reduced water withdrawal by nearly 13 percent year-over-year in 2022.
  • Recycled more than 7 million megaliters of water through closed-cycle cooling systems at nuclear assets in 2022.
  • Implemented an initiative to reduce solid waste by reusing or recycling wind turbine blades.

Social Achievements

  • Contributed $7.9 million to nonprofits, with 87 percent of donations aimed at underrepresented and underserved communities.
  • Employees volunteered more than 80,000 hours and contributed $4.6 million to charitable organizations in 2022.
  • Increased the number of women in the workforce by more than 5 percent and the number of ethnically or racially diverse employees by 10 percent since separation from Exelon.
  • Launched Powering Change workforce development program, providing $1 million annually to nonprofits.

Governance Achievements

  • Implemented a comprehensive ethics and compliance program.
  • Achieved 99 percent employee completion of Code of Business Conduct training and certification of compliance questionnaire.
  • Amended committee charters to strengthen oversight responsibilities for sustainability and other ESG-related risks.

Climate Goals & Targets

Long-term Goals:
  • Achieve 100% carbon-free electricity generation by 2040.
  • Reduce operations-driven emissions by 100% by 2040 (with offsets for irreducible emissions).
Medium-term Goals:
  • Achieve 95% carbon-free electricity generation by 2030.
  • Invest $350 million to repower and refurbish 315 MW of wind assets between 2023 and 2025.
Short-term Goals:
  • Reduce carbon emissions by 65% by 2030 (from 2020 baseline)
  • Reduce methane emissions by 30% by 2030 (from 2020 baseline)

Environmental Challenges

  • Water scarcity risk, particularly in regions with solar, wind, and simple-cycle combustion turbine power installations.
  • Potential impacts of climate change on operations (physical and transition risks).
  • Nuclear fuel supply chain risks.
  • Court vacating the license for Conowingo Dam, jeopardizing environmental commitments.
Mitigation Strategies
  • Using the World Resources Institute Aqueduct tool to assess water stress.
  • Developing drought contingency management plans.
  • Utilizing closed-cycle and dry condenser cooling technologies to conserve water.
  • Diversifying nuclear fuel suppliers and advocating for domestic supply.
  • Working to preserve the agreement with the State of Maryland regarding Conowingo Dam.

Supply Chain Management

Responsible Procurement
  • Constellation Supplier Code of Conduct
  • ESG criteria integrated into supplier assessments
  • Focus on diverse suppliers

Climate-Related Risks & Opportunities

Physical Risks
  • Damage from increasing temperatures, severe weather events, and sea level rise
Transition Risks
  • Changes to energy systems, changing customer expectations, and regulations to reduce GHG emissions
Opportunities
  • Growing market for clean energy solutions

Reporting Standards

Frameworks Used: GRI Standards (2021), SASB Electric Utilities and Power Generators Standard

Certifications: ISO 14001:2015 (nuclear EMS)

Third-party Assurance: Lloyd’s Register Quality Assurance, Inc. (LRQA)

Sustainable Products & Innovation

  • Constellation Offsite Renewables (CORe)
  • Hourly Carbon-Free Energy Matching
  • Energy Attribute Certificates (EACs)
  • Renewable Natural Gas and Carbon Offsets
  • Constellation Energy Solutions (CES)
  • Efficiency Made Easy® (EME)
  • Advisory Services

Reporting Period: 2023

Environmental Metrics

ESG Focus Areas

  • Business (Supplier) Diversity
  • Workforce Development
  • Community Engagement
  • Clean Energy Investment

Environmental Achievements

  • Increased carbon-free generation capacity through investments in existing and new clean energy facilities (nuclear, wind, solar).
  • Repowering of the Criterion wind project in Maryland, increasing energy production and extending operational life.

Social Achievements

  • Spent $521.8 million with diverse suppliers, supporting an estimated 4,227 jobs and $904.3 million in revenue.
  • Invested $1.25 million in six non-profits through the “Powering Change” initiative.
  • Employees volunteered over 102,000 hours, contributing to various community initiatives.
  • Constellation and employees contributed $18.7 million in charitable giving.

Governance Achievements

  • Established a Business (Supplier) Diversity team.
  • Legal team spent $1.82 million with diverse law firms and $11.6 million on work performed by underrepresented professionals at other law firms.

Climate Goals & Targets

Long-term Goals:
  • 100% carbon-free generation by 2040

Environmental Challenges

  • Challenges faced by diverse suppliers in accessing financing and obtaining equipment in a timely manner.
Mitigation Strategies
  • Constellation assisted General Energy Corporation (GEC) by adjusting processes and modifying contractual agreements with customers to absorb upfront costs and facilitate timely equipment acquisition.

Supply Chain Management

Responsible Procurement
  • Focus on small, local, and diverse businesses

Climate-Related Risks & Opportunities