LS Power Issues Sustainability Report for 2021, Highlighting Energy Transition Platforms, Community Engagement, DE&I and a Focus on Reliability and Affordability
LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, today announced the release of its latest sustainability report covering the year ending 2021.
“Over the past year, our dedicated, passionate people have continued to make the nation’s energy system cleaner, more efficient, and more resilient,” said LS Power CEO Paul Segal in his letter accompanying the report. “Our 2021 Sustainability Report details our growing Energy Transition Platforms, our decarbonization efforts, our talented team, and the incredible philanthropy work that our people do,” Segal said.
The report, entitled “Accelerating the Energy Transition,” highlights LS Power’s Energy Transition Platforms, which have grown to include nation-leading companies:
- CPower Energy Management (demand response and energy efficiency)
- Endurant Energy (microgrids)
- EVgo (EV charging)
- REV Renewables
- Rise Light & Power (New York City’s largest energy provider)
- Waste-to-Renewable Fuel initiatives
REV Renewables is the newest member of the LS Power Energy Transition family. Formed in July 2021 out of LS Power’s existing assets, REV consists of the largest non-utility owned portfolio of pumped storage hydro in the country, a sizeable lithium-ion battery portfolio, and a wind and solar portfolio that spans 14 states. “With an operating portfolio of more than 2.6 gigawatts and a substantial development pipeline, we see REV and its business model as critical to accelerating the energy transition,” Segal said.
LS Power recognizes that identifying and developing a talented team requires unwavering focus. To support this effort and maintain a competitive advantage, LS Power’s “Powering Change” initiative expands recruitment to qualified candidates from Historically Black Colleges and Universities (HBCUs) and Hispanic Serving Institutions (HSIs). Powering Change complements LS Power’s ongoing sponsorship programs that encourage women and other underrepresented communities in science, technology, engineering, and math (STEM) fields.
In 2021, LS Power’s community engagement program contributed nearly $1.7 million to over 250 charities and organizations across 16 states, including food banks, crisis centers, youth and STEM programs, environmental programs, and more.
The report also discusses LS Power’s advocacy efforts to support competitive markets and the important role its flexible natural gas generation fleet plays in the energy transition by balancing the grid and avoiding power interruptions when renewable energy resources like wind and solar power are curtailed or offline due to weather conditions. “We recognize a void in the quest toward decarbonization — how to enable it smoothly and responsibly while keeping energy affordable and accessible. With our unique platform of resources, LS Power is driven to help fill that void,” Segal said.
As with LS Power’s inaugural sustainability report, the new report is informed by the Global Reporting Initiative Standards (GRI) and the Sustainability Accounting Standards Board (SASB), and accounts for LS Power’s Environmental, Social and Governance (ESG) performance for the 2021 calendar year.
The LS Power Sustainability Report can be found on LS Power’s website at https://www.lspower.com/sustainability.