Environmental and Sustainability Report
Madison Gas and Electric (MGE) publishes an annual Environmental and Sustainability Report, which provides a comprehensive view of the company's environmental, social, governance and sustainability efforts.
Targeting net-zero carbon electricity
MGE is targeting net-zero carbon electricity for its customers by 2050 and is working to achieve deep decarbonization as quickly and as cost-effectively as it can.
MGE's carbon reduction goals signal the company's direction but do not determine its pace.
"Since introducing our carbon reduction targets, we have always said that if we can go further faster by working with our customers, we will. We believe it is important to articulate a long-term goal that is both visionary and based on the best climate science available," MGE Chairman, President and CEO Jeff Keebler said.
MGE already has been on a path to reduce carbon emissions at least 80% by 2050 from 2005 levels. This commitment aligns with the goals of the U.S. Mid-Century Strategy (MCS) for Deep Decarbonization. The MCS is the U.S. strategy for meeting the goals of the Paris Agreement.
Both the Intergovernmental Panel on Climate Change (IPCC) and the MCS rely on:
- Decarbonizing electric generation
- Using energy efficiently
- Electrifying other energy uses, including transportation.
These are the strategies MGE is pursuing and will continue to pursue to achieve deep decarbonization.
EEI ESG/Sustainability reporting templates
To advance further transparency and disclosure in company operations and governance, MGE is participating in the Edison Electric Institute's (EEI) environmental, social, governance and sustainability-related reporting templates. The quantitative template
includes data related to MGE's energy portfolio (generation and capacity), emissions, capital expenditures, and human and natural resources. The qualitative template
includes information related to our company's management and oversight of and strategies for transitioning toward deep decarbonization and greater sustainability. These templates are voluntary and industry-specific.
"MGE has ambitious carbon reduction goals and is advancing a more sustainable future through renewable generation, the electrification of transportation and increased engagement with our customers around energy efficiency. These reporting templates offer one more way for us to share relevant information with our investors," Keebler said.
EEI members represent U.S. investor-owned electric companies.
MGE Energy is committed to transparency. The company has reviewed the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), performed an analysis of its disclosures relative to the TCFD recommendations and determined that MGEE's disclosures are consistent with and responsive to the TCFD guidance and recommendations.
Green Masters Program
MGE voluntarily participates in two statewide benchmarking programs, achieving the highest designations from both programs.
MGE earned the Green Master designation from the Wisconsin Sustainable Business Council for the sixth consecutive year. This voluntary, independent benchmarking program, which evaluates sustainability actions in nine key areas, recognizes the top 20% of participants as a Green Master.
In 2017, MGE expanded the scope of its renewed five-year contract with the Wisconsin Department of Natural Resources for its Green Tier certification, which recognizes environmental leadership. MGE's primary goal in the expanded contract is to cover all MGE operations under the company's Environmental Management System, or EMS. An EMS is a continuous improvement process that evaluates, prioritizes and manages environmental risks.
MGE was the first electric utility to take part in the Green Tier pilot program and remains the only electric utility, and one of only six Wisconsin companies, to be certified at the highest level of Green Tier.