NextEra Energy Partners, LP
Climate Impact & Sustainability Data (2020, 2022)
Reporting Period: 2020
Environmental Metrics
Total Carbon Emissions:64,179 tCO2e/year (2020)
ESG Focus Areas
- Climate Change
- Social Responsibility
- Governance
Environmental Achievements
- Renewable energy portfolio generated enough zero-emissions electricity to power nearly 1.75 million homes for one year, avoiding over 9.7 million tons of CO2 emissions compared to traditional energy sources.
- Reduced fleet-wide dollar per megawatt hour wind O&M costs by more than 30% since 2017.
Social Achievements
- NextEra Energy Resources had an Occupational Safety and Health Administration (OSHA) rate of 0.35 in 2020, better than the top decile in the industry.
- NextEra Energy and its employees contributed $19 million in 2020 to support local communities.
Governance Achievements
- 29% of the board are women.
- 29% of the board are minorities.
- Majority of the board are elected by unitholders.
- Proxy access provisions.
Climate Goals & Targets
Environmental Challenges
- Increased CO2e emissions in 2020 due to the addition of gas-fired backup power for compressor operations and the inclusion of equity ownership in Central Penn Line.
- Climate-related extreme weather events.
- Cybersecurity threats.
Mitigation Strategies
- Regular inspections of equipment to detect and repair leaks in natural gas pipelines.
- Investment in infrastructure resiliency (e.g., backup compression for Texas pipeline).
- Comprehensive cybersecurity monitoring program and employee training.
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather
Transition Risks
- Regulatory changes, market shifts
Opportunities
- Growth in renewable energy
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:104,763 tCO2e (Scope 1 in 2021)
Scope 1 Emissions:104,763 tCO2e (2021)
Scope 2 Emissions:201,306 tCO2e (2021)
Renewable Energy Share:79% (wind and solar)
ESG Focus Areas
- Climate Change
- Social Responsibility
- Governance
Environmental Achievements
- Avoided over 10.9 million tons of CO2 emissions in 2021 compared to traditional energy sources.
- Reduced fleet-wide O&M costs significantly from 2017-2021, improving wind by approximately 33% and solar by approximately 26%.
- Completed the sale of Monument Pipeline, LP, redeploying proceeds to acquire higher-yielding renewable energy assets.
Social Achievements
- NextEra Energy's workforce diversity: women (24%), minorities (39%), veterans (13%) in 2021.
- NextEra Energy Resources had an OSHA rate of 0.26 in 2021, better than the top decile in the industry.
- Contributed about $48.5 million in property and other taxes and community giving in 2021.
Governance Achievements
- Board is made up of 29% women and 29% minorities.
- Majority of the board is elected by unitholders.
- Proxy access provisions allow unitholders to nominate directors.
Climate Goals & Targets
Environmental Challenges
- Climate change risks (severe weather, regulatory changes)
- Cybersecurity risks
- Gas transportation asset emissions
Mitigation Strategies
- Robust risk management process with realistic assumptions and sensitivity analyses.
- Comprehensive cybersecurity monitoring program and employee training.
- Regular equipment inspections to detect leaks and make repairs, exploring options for gas transportation assets (green hydrogen, RNG).
Supply Chain Management
Responsible Procurement
- Maximizes value through fleet-wide vendor relationships
Climate-Related Risks & Opportunities
Physical Risks
- Severe weather
Transition Risks
- Regulatory changes, market shifts
Opportunities
- Growth in wind, solar, and battery storage