Portland General Electric sets 2040 goal for net-zero GHG

US utility Portland General Electric (NYSE:POR), or PGE, will aim at having net-zero greenhouse gas emissions (GHG) across its operations by 2040 as part of a new climate change action plan.

The Oregon-based utility on Wednesday presented a plan with three main pillars to help it achieve the new companywide target. As an interim goal, a major focus will be put on lowering the GHG associated with power supplies to clients by 80% by 2030 as compared to 2010 levels. This will be addressed with shutting down coal-fired power capacity and adding more renewables, such as wind, solar and battery storage.

Additionally, PGE will strive to cut GHG emission levels in its operations by electrifying more than 60% of its vehicles by 2030. New programme offerings for the use of renewables electricity will be also considered, both for residential and business clients.

"Our future depends on taking immediate action to address climate change by reducing greenhouse gas emissions. To meet this goal, we will touch every part of our business: from the power we supply to our customers, to the vehicles we drive, to how we operate our buildings,” said CEO Maria Pope.

PGE noted that reaching the 2040 goal will require policy, regulatory and technology advancements that support the thorough elimination of GHG from power supply.

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