WEC Energy Group moves forward on ESG goals

Milwaukee-based WEC Energy Group Inc., which serves 4.7 million customers in Wisconsin, Illinois, Michigan, and Minnesota, has made major advancements in its mission to deliver affordable, reliable, and clean energy across the Midwest, according to the company’s newly released 2023 Corporate Responsibility Report .

“We’re pleased to report that we continued to make solid progress on our industry-leading targets for reducing carbon and methane emissions,” said WEC Energy Group President and CEO Scott Lauber in a statement released today. “We have served the people of the Midwest for more than a century. The future is bright, and we are dedicated to powering our communities now and for many years to come.”

The report provides a comprehensive overview of the company’s environmental, social and governance (ESG) performance and outlines the progress made by WEC Energy Group and its family of companies, including Wisconsin Electric Power Co. and Wisconsin Gas LLC, doing business as We Energies, and Wisconsin Public Service Corp. in Wisconsin; Michigan Gas Utilities Corp. and Upper Michigan Energy Resources Corp. in Michigan; Minnesota Energy Resources Corp. in Minnesota; The Peoples Gas Light and Coke Co. and North Shore Gas Co. in Illinois; and WEC Infrastructure LLC and its subsidiaries.

The 87-page report examines the company’s climate strategy and the research and development of emerging technologies, such as renewable natural gas, hydrogen power, and long-duration battery storage.

Among the report’s highlights are how WEC Energy Group’s investments in sustainable technology — including zero-carbon energy and renewable natural gas — are helping the company meet its carbon and methane reduction goals.

To enhance reliability, for instance, Lauber said the company built new liquefied natural gas storage to support both its electric and natural gas businesses and furthered efforts to research and deploy new technology.

“As one example, we introduced renewable natural gas from local dairy farms into our distribution system,” he writes in the report.

At the end of 2023, the company reduced carbon emissions from generation 54 percent below 2005 levels, according to the report, and is targeting a 60-percent reduction in carbon emissions from electric generation by the end of 2025 and an 80 percent reduction by the end of 2030, both below 2005 levels.

Additionally, WED Energy plans to eliminate coal as an energy source by the end of 2032 and have a carbon-neutral electric generation fleet by 2050.

“We recently retired additional coal generation and moved up our timeline for a complete exit from coal — now planned by the end of 2032 — while adding renewable power and efficient natural gas to reliably serve our customers,” Lauber said.

WEC Energy’s goals also include achieving net-zero methane emissions across its natural gas distribution operations by the end of 2030.

Overall, the report details the company’s $23.7 billion capital plan to invest in efficiency, sustainability, and growth.

The five-year capital plan includes $7 billion to build and own approximately 3,800 megawatts of additional renewable energy capacity for the company’s regulated utilities — more than quadrupling its carbon-free generation.

“In 2023, we continued to make solid progress,” according to Lauber’s report message. “We look forward to even more opportunities ahead — both for our business and for the communities we serve — as our industry evolves and our region’s economy grows.”

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