Energy Impact Partners Reports Significant Impact on Climate Change in Its Inaugural ESG Report
Energy Impact Partners LP (EIP), the global investment firm leading the transition to a sustainable energy future, has issued its inaugural Environmental Metrics report, measuring the impact enabled by its portfolio companies towards addressing climate change. EIP works closely with its partners -- more than 25 of the largest and most innovative utilities -- to develop cutting-edge solutions that can transform the energy landscape and reduce greenhouse gases. This comprehensive report reflects the significant achievements of its investment and commercialization activities, together with EIP's portfolio and utility partners.
Despite the many challenges presented by COVID-19, EIP and its partners remain firm in their commitment to accelerate the clean energy transition. In 2018, EIP's portfolio of more than 34 investments enabled savings of 772,000 metric tons of CO2 equivalent, 470 metric tons of nitrogen oxide, 500 metric tons of sulphur dioxide and the equivalent of 23 million gallons of gasoline. For EIP's 2018 portfolio, these lifetime savings total about 15 million metric tons of C02e, the equivalent of planting about 247 million trees or taking 3.2 million cars off the road. In addition to the direct impact generated by 12 of EIP's portfolio companies, those investments provide further foundational benefits that strengthen the underlying infrastructure required to enable the faster adoption of renewable technologies across power and transportation.
EIP is focused on the major levers of driving change: the electricity sector is the second largest emitter of U.S. greenhouse gases behind trasportation and is also a key enabler in the transformation to a low-carbon economy. EIP is focused on achieving the largest possible near-term environmental impact by identifying innovative solutions that can be immediately adopted within their utility partners' operations to drive progress and enable other industries to accelerate decarbonization.
"In these challenging times, as we face the COVID-19 pandemic, it's more important than ever that we produce safe, reliable and affordable energy for our customers and communities," said Ben Fowke, chairman and CEO of Xcel Energy. "We support Energy Impact Partners because they are doing the invaluable work of connecting private sector innovators and energy producers to develop important new technologies."
"To halt climate change, we need to make a difference now. EIP was founded on the idea that real impact can only be achieved by working with industry to accelerate innovation, and we are proud of what we have achieved together. This ESG report is the first small testament to our progress and we look forward to much more to come," said Hans Kobler, Founder & CEO of EIP.
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