Ceres calls on EPRI to strengthen their draft emissions reduction guidance

Ceres issued the following statement in response to the release of the Electric Power Research Institute (EPRI)’s draft SMARTargets methodology designed to encourage utility companies to set and deliver on greenhouse gas emissions reduction goals.  

“Ceres has fundamental concerns that the proposed methodology disregards the well-established scientific consensus on sectoral decarbonization and instead defaults on projected global emissions. This represents a step backward at a time when investors and other stakeholders require greater sector-specific accountability and action to address climate-related risks and opportunities,” said Steven Clarke, Program Director of Climate and Energy at Ceres. 

Clarke continues, “While the draft methodology includes some useful elements, such as scenario analysis and consideration of enabling conditions for emissions reduction, its flawed foundation overshadows these strengths. As it stands, the approach fails to meet the needs of many investors who rely on robust, science-based tools to assess corporate climate transition strategies. The electric power sector is vital to decarbonizing our entire economy including the highest emitting sector, transportation. The EPRI framework will hinder the leadership and ambition we need from utilities to catalyze our transition to a cleaner economy.” 

Ceres encourages investors and other stakeholders to engage in the public consultation process, which is open through August 22, and urge EPRI to align its framework with the sectoral benchmarks and science-based principles that many investors expect. 

 x

About Ceres 

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and resilient economy. With data-driven research and expert analysis, we inspire investors and companies to act on the world's sustainability challenges and advocate for market and policy solutions. Together, our efforts transform industries, unlock new business opportunities, and foster innovation and job growth – proving that sustainability is the bottom line. For more information, visit ceres.org.