Many electric companies have announced voluntary CO2 reduction targets, including goals to reach net-zero emissions from their generating units. Approximately 90% of 2005 power sector emissions are subject to either a utility target or state emissions policy. This deliverable tracks the implications of company CO2 targets and state-level decarbonization policies on U.S. power sector emissions using public data sources. This analysis indicates that power sector CO2 would decline by 75% by 2050 from 2005 levels if utilities and states meet their stated targets. Since the 2020 version of this analysis, the number of companies with net-zero targets not covered by existing state-level targets increased from 18 to 24, and many utilities increased the reduction percentages for interim targets. The analysis also documents that 58% of companies included in the analysis (covering 72% of emissions) mention environmental justice or equity in their climate reports.
Authors Heidi Scarth and John Bistline