For years, we have continued to see a rapid pace of change across our industry. But 2022 was uniquely defined by it. We saw continued demand for a cleaner, more electrified economy collide with geopolitical events, rising natural gas prices, supply chain disruption, persistent inflation, the passage of the Inflation Reduction Act, and extreme weather events in both summer and winter. Through these challenges — and opportunities — Vistra stayed true to its strategic roadmap. We continue to deliver on the plans and promises that make our company a resilient enterprise that is focused on providing the reliable, affordable, and sustainable energy that customers are seeking.
I am proud to share that our Vistra team has made great strides in our efforts to simultaneously reduce emissions and grow our zero-carbon generation portfolio, Vistra Zero. The company’s overall CO2e emissions dropped year-over-year in 2022, improving our trajectory to meet our goal of a 60% reduction in CO2e by 2030 compared to our 2010 baseline. This was driven by the addition of more than 400 megawatts of solar and energy storage capacity brought online in Texas in 2022, along with the retirement of three coal facilities across Ohio and Illinois. We expect that factoring in these latest actions, we are tracking towards achieving 80% of our 2030 target by the end of 2023.
In addition, in 2023 we announced an agreement to acquire Energy Harbor and combine its nuclear and retail businesses with Vistra’s nuclear and retail businesses and Vistra Zero renewables and storage projects under a new subsidiary called Vistra Vision. This transaction accelerates the growth of Vistra’s zero-carbon operations, adding 4,000 MW of nuclear capacity and around 1 million retail customers. In total, Vistra Vision will be a large-scale 7,800 MW zero-carbon generation business with 5 million retail customers across the United States, and it will also have access to a growth pipeline of more than 3,500 MW of additional renewable and storage projects.
Vistra’s continued success is powered by our people. As a leadership team, we understand that creating and maintaining an environment where people are respected, and differences are valued enhances our ability to recruit and retain top talent in the marketplace. Our employees are supported by top-notch training programs, leadership development, educational assistance, employee resource groups, and more.
We are proud that our employees donate their time through volunteerism with hundreds of events and charitable efforts across the country in 2022. Notably, Vistra’s annual United Way giving campaign raised $1.8 million through employee donations and Vistra corporate matches, making it among the top five campaigns in the Dallas-Fort Worth area, which is even more impressive given that DFW is home to many Fortune 500 companies. In addition, the company is in the midst of a five-year commitment, made in 2020, to give $10 million to organizations working to advance economic and educational opportunities for all members of our communities.
It’s initiatives like these that stand as evidence that environmental, social, and governance efforts are priorities for Vistra — they are integral to our business strategy and ability to provide long-term value for all stakeholders.
While the pace at which our industry changes doesn’t show signs of slowing down, we are focused on our strategy of responsibly transforming our generation fleet, creating value for customers and employees alike, and ensuring we have a resilient enterprise that creates value for years to come. Thank you for your interest in our company.
Read the full report here: https://vistracorp.com/sustainability/
Jim Burke, President & Chief Executive Officer