On August 15, 2019, Ceres released a newly updated climate scenario analysis framework for electric power companies. The framework, developed by M.J. Bradley & Associates for Ceres, gives specific guidance for investors and companies to assess climate change-related risks and opportunities in the U.S. electric power sector. Since the beginning of 2018, more than ten companies in the electric power industry have published climate strategy assessment reports, and a number of additional companies are expected to release reports throughout 2019. At the same time, expectations from investors are growing as they learn from published climate strategy reports, the impacts of climate change become clearer and market opportunities for zero carbon resources advance.
This update reviews 12 climate strategy assessments from companies in the U.S. electric power industry. In April 2018, Ceres published a framework developed by M.J. Bradley & Associates (MJB&A) that provides specific guidance for assessing climate change-related risks and opportunities for companies in the U.S. electric power industry. This update reviews developments since the release of the 2018 framework, including investor interest, the publication of the Intergovernmental Panel on Climate Change (IPCC) special report on the impacts of global warming of 1.5 degrees Celsius (1.5°C) above pre-industrial levels and commitments made by companies to reduce emissions.