exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
corruption and actions taken Governance > Ethics and Compliance (p. 50–51)
206-1: Legal actions for anti-competitive Constellation 2022 Sustainability Report:
GRI 206: Anti-Competitive Behavior 2016
behavior, anti-trust, and monopoly practices Governance > Ethics and Compliance (p. 50–51)
Risk Management
103-1: Explanation of the material topic Constellation 2022 Sustainability Report:
and its Boundary Governance > Risk Management (p. 51–52)
103-2: The management approach Constellation 2022 Sustainability Report:
GRI 103: Management Approach 2016
and its components Governance > Risk Management (p. 51–52)
Constellation 2022 Sustainability Report:
103-3: Evaluation of the management approach
Governance > Risk Management (p. 51–52)
418-1: Substantiated complaints concerning
Constel
Keyword: governance
Governance > Risk Management (p. 51–52)
customer data
Supply Chain Management
Constellation 2022 Sustainability Report:
103-1: Explanation of the material topic
Governance > Supply Chain Management
and its Boundary
(p. 52)
Constellation 2022 Sustainability Report:
103-2: The management approach
GRI 103: Management Approach 2016 Governance > Supply Chain Management
and its components
(p. 52)
Constellation 2022 Sustainability Report:
103-3: Evaluation of the management approach Governance > Supply Chain Management
(p. 52)
CEO Letter About Clean Energy Environment Society Workforce Governance Appendix74 Constellation 2022 Sustainability Report
Disclosure Report Section or Direct Response
Constellation 2022 Sustainability Report:
GRI 204: Procurement Pra
Keyword: governance
ctices 2016 204-1: Proportion of spending on local suppliers Governance > Supply Chain Management
(p. 52)
Constellation 2022 Sustainability Report:
GRI 308: Supplier Environmental 308-1: New suppliers that were
Governance > Supply Chain Management
Assessment 2016 screened using environmental criteria
(p. 52)
Constellation 2022 Sustainability Report:
GRI 414: Supplier Social 414-1: New suppliers that were
Governance > Supply Chain Management
Assessment 2016 screened using social criteria
(p. 52)
CEO Letter About Clean Energy Environment Society Workforce Governance Appendix75 Constellation 2022 Sustainability Report
SASB Index
Referenced page numbers and links direct readers to the exact page position in the PDF file.
Disclosure Report Section or Direct Response
Greenhouse Gas Emissions and Energy Resource Plan
Keyword: governance
CEO Letter About Clean Energy Environment Society Workforce Governance Appendix76 Constellation 2022 Sustainability Report
Disclosure Report Section or Direct Response
Coal Ash Management
Amount of coal combustion residuals (CCR)
IF-EU-150a.1 Not applicable to Constellation
generated, percentage recycled
Total number of coal combustion residual (CCR)
IF-EU-150a.2 impoundments, broken down by hazard potential Not applicable to Constellation
classification and structural integrity assessment
Energy Affordability
Average retail electric rate for:
1. Residential
IF-EU-240a.1 Not reported
2. Commercial
3. Industrial customers
Typical monthly electric bill for residential
customers for:
IF-EU-240a.2 Not reported
1. 500 kWh
2. 1,000 kWh of electricity delivered per month
Number of residential customer electric
IF-EU
Keyword: governance
CEO Letter About Clean Energy Environment Society Workforce Governance Appendix77 Constellation 2022 Sustainability Report
Disclosure Report Section or Direct Response
Grid Resiliency
Number of incidents of non-compliance
IF-EU-550a.1 with physical and/or cybersecurity standards Not reported
or regulations
1. System Average Interruption Duration
Index (SAIDI)
2. System Average Interruption Frequency Constellation 2021 Form 10-K: Item 11.
IF-EU-550a.2
Index (SAIFI) Executive and Director Compensation (p. 174)
3. Customer Average Interruption Duration
Index (CAIDI), inclusive of major event days
Activity Metrics
Number of:
1. Residential Constellation 2022 Sustainability Report:
IF-EU-000.A
2. Commercial Appendix > KPI Index (p. 58–64)
3. Industrial customers served
Total electricity delivered to:
1. Residentia
Keyword: governance
CEO Letter About Clean Energy Environment Society Workforce Governance Appendix
Keyword: bribe
assets and confidential information, bribery and
Ethics Office email box and 24-hour Ethics Helpline
corruption, political contributions, and competing • Code of Business Conduct
(including anonymous reporting), for reporters to
with integrity. We also maintain policies against • Supplier Code of Conduct
voice concerns or ask questions through a phone
discrimination, harassment and retaliation, and • Ethics and Governance
and web portal option. We also have a Nuclear
sexual harassment. • Ethics Help Line
Employee Concerns Program to receive and
• Related Persons Transactions Policy
Introduction Clean Energy Future Environment Social Governance50
Sustainability Report 2023
Mitigating Risk
Our Risk Management team coordinates our understand our specific risks and opportunities Physical
Keyword: corruption
corruption, political contributions, and competing • Code of Business Conduct
(including anonymous reporting), for reporters to
with integrity. We also maintain policies against • Supplier Code of Conduct
voice concerns or ask questions through a phone
discrimination, harassment and retaliation, and • Ethics and Governance
and web portal option. We also have a Nuclear
sexual harassment. • Ethics Help Line
Employee Concerns Program to receive and
• Related Persons Transactions Policy
Introduction Clean Energy Future Environment Social Governance50
Sustainability Report 2023
Mitigating Risk
Our Risk Management team coordinates our understand our specific risks and opportunities Physical and Cyber Security
risk management program, and we have robust giv
Keyword: tax
we live and work, in addition to the taxes we pay to local
governments to fund schools, fire, police and other public $ $7.9 million
services. We also actively invest in community development
philanthropic donations
Climate & Environment through philanthropic giving and employee volunteerism. We
across 33 states
are committed to building a future in which our employees,
Providing support for environmental conservation
customers, business partners and communities benefit
and stewardship
equitably from social, environmental and economic progress.
Our corporate citizenship and philanthropy program is built 87% support
upon three pillars.
for organizations, programs and events
targeting underrepresented
In 2022, Constellation provided $7.9 million in philanthropic and underserved popul
Keyword: governance
Mitigating Our Environmental Impacts 45 / Governance
23 / Managing Environmental Compliance Upholding Strong Governance Principles
24 / Using Water Resources Responsibly 46 / Supporting Corporate and Sustainability Governance
25 / Protecting Biodiversity 49 / Maintaining Ethical Business Conduct
28 / Managing Our Waste 50 / Mitigating Risk
52 / Managing Our Supply Chain
Introduction Clean Energy Future Environment Social Governance01
Sustainability Report 2023
1
Introducing the Constellation
Sustainability Report
About this Report ESG Data Index & Factsheet
We are proud to present Constellation’s 2023 Sustainability Report,
which addresses our approach and progress on key environmental, Our ESG Data Index & Factsheet provides key performance indicators
social and governance (ESG) topics acro
Keyword: governance
Governance Principles
Introduction Clean Energy Future Environment Social Governance46
Sustainability Report 2023
Supporting Corporate
and Sustainability Governance
Our purpose to accelerate the transition to a Corporate Governance percent (i.e., 27 percent) of Board members are
carbon-free future and generate long-term value women and 45 percent are racially or ethnically
for our stakeholders is dependent on robust The Constellation Board of Directors is responsible diverse.16
for overseeing senior management’s execution
leadership and governance. Our strategy is driven
For more information on the unique skills of our
of the company’s growth and long-term business
by our Board of Directors and executive team, who
Board, please see the Board Skills m
Keyword: governance
diversity metrics, please see the Governance
governance practices, and corporate citizenship,
section of our ESG Data Index & Factsheet.
including sustainability and environmental
stewardship and social responsibility. The
Constellation Board is comprised of 11 members
We embed ESG throughout our business activities
and as of July 2023, all members except the
and strategy. The full Board oversees ESG issues, 27% Female Board members
president and CEO are independent directors
including, but not limited to, evaluating business
under criteria established by The Nasdaq
risks related to climate change, reviewing
Global Select Market and incorporated in the
investment and divestment opportunities related
Constellation Corporate Governance Principles.
to climate risks, holding ongoing disc
Keyword: governance
The Corporate Governance The Audit and Risk Committee
reviewed annually. The Board has delegated to each committee
specific aspects of our ESG oversight. Committee reviews SEC disclosures related to environmental, human
capital and cyber security risks, and maintains oversight of
is specifically tasked with overseeing sustainability and
the independent auditor. The committee also reviews the
In 2022, the Board amended committee charters to strengthen
climate change strategies, including efforts to protect and
processes by which the company assesses and manages
oversight responsibilities for sustainability, human capital
improve the environment. The committee also identifies and
ESG-related risks as part of the broader enterprise risk
management and other ESG-relat
Keyword: governance
to adopt proxy access provisions in line with prevailing governance
process for the Board, its committees and directors.
standards. The Board also actively supported the company’s
executive compensation program design that incentivizes our
management team to achieve goals aligned with creating long-term
shareholder value.
The Nuclear Oversight Committee The Compensation Committee
is specifically tasked with overseeing environmental is actively involved in reviewing policies related to executive
and safety laws, regulations and standards applicable to compensation, talent development and DEI, monitoring
ownership and operation of nuclear power facilities. This and shaping corporate culture and evaluating potential ESG
includes compliance with policies and procedures to manage metrics for the compensation pr
Keyword: governance
Sustainability Governance Our evolving understanding of the emerging
ESG trends affecting our business stems from
and Stakeholder Engagement
consistent and ongoing engagement with our
stakeholders to address their needs and concerns.
We also have specific executive leaders
The issues that affect our stakeholders are critical
responsible for advancing our ESG principles.
elements that underline the development of our
For instance, the Constellation Sustainability
sustainability strategy and business plans. We
Council, led by the Vice President of Sustainability
hold biannual investor calls every spring and fall
and Climate Strategy, is comprised of executive
for our largest institutional investors. Additionally,
representatives from key functions within
we engage wi
Keyword: governance
• Corporate Governance Principles
inclusive culture, and support our employees and
• Ethics and Governance
communities.
• Board Diversity Matrix
• 2023 Proxy Statement
Introduction Clean Energy Future Environment Social Governance49
Sustainability Report 2023
Maintaining Ethical
Business Conduct
We are driven by our value to “Act with Integrity,” All new employees are required to attest to investigate nuclear plant worker concerns.
which means we do what is right, we honor our the Code, and all employees receive annual Constellation will not tolerate retaliation
commitments and we are accountable for what we Code training. Additionally, all non-represented against anyone because they raise a good faith
do. To support this, we maintain a comprehensive employees a
Keyword: governance
Code of Business Conduct For more information on our Supplier Code of Governance section of the ESG Data Index &
Conduct and supplier ethics expectations, please Factsheet.
Constellation’s Code of Business Conduct (Code) see the Managing Our Supply Chain section.
applies to all employees, directors, officers,
subsidiaries and third parties with which we do
Voicing Concerns
business, as applicable, and describes many
of our legal and ethical obligations. The Code
We foster a culture of open communication that
outlines our core values and covers a variety of
encourages and empowers our employees to
topics, such as conflicts of interest, respectful
report ethics concerns and potential legal or
workplace conduct, safety, protecting company regulatory violations. Constellation maintains an Key Links
assets and confidential
Keyword: governance
discrimination, harassment and retaliation, and • Ethics and Governance
and web portal option. We also have a Nuclear
sexual harassment. • Ethics Help Line
Employee Concerns Program to receive and
• Related Persons Transactions Policy
Introduction Clean Energy Future Environment Social Governance50
Sustainability Report 2023
Mitigating Risk
Our Risk Management team coordinates our understand our specific risks and opportunities Physical and Cyber Security
risk management program, and we have robust given the passage of time and hope to provide
The Board’s Audit and Risk and Nuclear Oversight
governance processes in place to help manage more details in next year’s report.
Committees have oversight responsibility of
and mitigate operational risks at the site level.
the policies and procedures in place to manage
Keyword: governance
maintaining relationships with key suppliers and to uphold fair labor standards and human rights see the Governance section of our ESG Data Index
starting new supplier relationships, we ensure for all workers, providing them with safe and & Factsheet.
mutual alignment with Constellation’s values that humane working conditions.
our employees live by every day.
Supporting Diverse Suppliers
We incorporate ESG criteria into our supplier
We are committed to maximizing opportunities for
assessments and we integrate sustainability
minority, women, veteran/service-disabled veteran
and resiliency through relationships with key
and LGBTQ-owned and small business enterprises
suppliers that provide materials and services. For
to deliver the best service for our customers. We
more information on the ESG criteria included in
seek suppliers who share this value, inclu
Keyword: bribe
information on Board oversight of our ethics programs, please fighting bribery and corruption, government interactions
see the Board Governance section. and competing with integrity. In 2024, we will be updating
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 44The Code is also reinforced by supplementary Voicing Concerns
policies, such as our management model policies
We prioritize creating a culture where all
focusing on anti-corruption measures, information
stakeholders feel empowered to voice any concerns
governance and prevention of discrimination,
regarding potential violations of our Code, policies
harassment and retaliation. Additional anti-
or procedures and laws or regulations. We maintain
corruption training is provided to relevant roles, and
several communication ch
Keyword: corruption
Code, which includes anti-corruption topics. Annual training
To ensure our processes remain up-to-date and effective, we is supplemented by ad-hoc, targeted training as needed,
The Board’s Audit and Risk Committee reviews ethics and
review our ethics and compliance program and policies and and new people leaders receive specific ethics training to
compliance program policies and procedures pertaining
identify key priority areas for improvement. reinforce ethical principles. Employees (other than unionized
to prevention of illegal payments, conflicts of interest and
employees) and Board members complete an annual
other questionable practices. Our Chief Ethics & Compliance
certification questionnaire to disclose conflicts of interest and
Officer is responsible for managing Cons
Keyword: corruption
information on Board oversight of our ethics programs, please fighting bribery and corruption, government interactions
see the Board Governance section. and competing with integrity. In 2024, we will be updating
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 44The Code is also reinforced by supplementary Voicing Concerns
policies, such as our management model policies
We prioritize creating a culture where all
focusing on anti-corruption measures, information
stakeholders feel empowered to voice any concerns
governance and prevention of discrimination,
regarding potential violations of our Code, policies
harassment and retaliation. Additional anti-
or procedures and laws or regulations. We maintain
corruption training is provided to relevant roles, and
several communication channels for stak
Keyword: tax
receive production tax credits of up to $15 per MWh through increase clean energy production by 79,000 MWh per year for
2032.9 Pending continued policy support for nuclear energy, an additional 20 years. 9 See Note 5 – Government Assistance in our Q1 2024 Form 10-Q.
Constellation intends to pursue 20-year license renewals at all
our nuclear plants. To that end, in early 2024 we started the However, we realize that serving increasing energy demand
regulatory process to renew the licenses of our Clinton and also requires innovative approaches to addressing our
Dresden Clean Energy Centers in Illinois. Extending the life of customers’ current clean energy needs while building out
our nuclear fleet would generate as much additional carbon- additional clean energy ca
Keyword: tax
production tax credit enacted in Section 45U of the IRA has
Co-location refers to initiatves in which customer demand provided the financial stability needed to halt the premature
is met through a direct connection to the generation facility, retirement of nuclear plants, but that tax credit expires in
rather than via the electric transmission or distribution 2032, just as an increasing number of nuclear units will need
systems. Such initiatives co-located at our nuclear generation to renew their 20-year operating licenses from the Nuclear
facilities would provide customers direct access to clean, Regulatory Commission (NRC). Pairing our nuclear plants
24/7 nuclear generation capacity, proximity to water with these types of co-located end-uses will suppo
Keyword: tax
hydrogen production to receive tax credits
production in March 2023, making it the first
harnessing more than renewable resources alone, in
under Section 45V of the Internal Revenue
nuclear-powered hydrogen facility of its size in
2023 LevelTen Energy and Intercontinental Exchange
Code.
the U.S.
announced the Granular Certificate Trading Alliance
as a trading platform for granular carbon-free energy
KEY LINKS attribute certificates. Constellation’s founding
membership in the Alliance and strong collaboration
Constellation Generation Nuclear 101 Hydrogen Strategy
Clean Energy Strategy Innovation & Advancement Fixed Income Investors
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 27Sustainable Product
Portfolio
Our integrated commercial
Keyword: governance
01 / Introduction 02 / Clean Energy Future 03 / Governance
04 / CEO Letter Powering America’s Clean, Carbon-Free Energy Future Upholding Strong Governance Principles
07 / About Constellation
16 / Accelerating the Clean Energy Future 41 / Prioritizing Responsible Leadership and Governance
08 / Our Purpose, Values and Principles
34 / Managing Our Climate Impacts 44 / Maintaining Ethical Business Conduct
10 / Our Sustainable Business Strategy
46 / Protecting Cybersecurity
04 / Communities 05 / Environment 06 / About
Uplifting and Strengthening Our Communities
Fostering Environmental Stewardship 78 / About this Report
48 / Engaging With Communities
70 / Managing Environmental Programs
52 / Building a World-Class Workforce
72 / Protecting Ecosystems and Natural Resources
63 / Promoting Health and Safet
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 21
Introduction
04 / CEO Letter
07 / About Constellation
08 / Our Purpose, Values and Principles
10 / Our Sustainable Business StrategyA Message
From Our CEO
In a rapidly changing world, America needs clean, dependable energy to We are especially proud that Constellation and our people were recognized
grow a secure, carbon-free economy. With our unmatched carbon-free, for their tremendous progress during our first two years as an independent
reliable generation portfolio, Constellation has what our country needs. We company. In the past year, we were named to JUST Capital’s JUST100, earned
are proud to be the nation’s largest producer of clean, carbon-free energy1 a Great Place to Work® ce
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 4A Message From One of the single most important steps we can take to secure These investments will help our nation meet its growing and industrial customers along their full sustainability
Our CEO a reliable grid is to extend the licenses of our nation’s nuclear energy needs with clean power as we electrify everything journey, from calculating emissions baselines to developing
plants by at least an additional 20 years. Extending the life of from transportation and heating to heavy industry and the decarbonization roadmaps.
Constellation’s fleet will create as much additional carbon- booming data economy. To ensure America’s national security
free power as all the renewable energy generate
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 5A Message From Constellation is a catalyst for economic growth and progress Our robust governance and ethical business practices help
in our communities. We are especially proud of the family- ensure we honor our commitments to our communities,
Our CEO
sustaining jobs that we support. Our $1.25 million Powering employees and customers. In 2023, we advanced and
Change investment and other workforce development strengthened our practices by developing our Responsible
programs and apprenticeships, among other initiatives, will Artificial Intelligence Policy.
help eliminate employment barriers in the energy industry
and provide training, reskilling and upskilling opportunities for
Looking Forward
underserved and underrepresented communities.
We are proud to lead the nation in providing clean, reliable
We are committed to creating a workpla
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 6About Constellation
2024 Constellation Energy Corporation (NASDAQ: CEG), through 16M homes
Sustainability Report Constellation Energy Generation, LLC and its subsidiaries,
(collectively, Constellation) is the nation’s largest producer of
Our carbon-free generation fleet powers the
clean, carbon-free energy2 and a leading supplier of energy
equivalent of 16 million homes.
products and services, including sustainable energy solutions.
Our carbon-free generation fleet of nuclear, hydroelectric,
wind and solar generation facilities generated approximately
~10%
178 terawatt hours (TWh) of clean, carbon-free energy in
2023, powering the equivalent of 16 million homes and
providing around 10 per
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 7Our Purpose,
Values and Principles
Our Purpose: Our Values:
Accelerating the transition
to a carbon-free future It’s about trust. Our customers rely on us to be We bring people together equitably so all voices can
Safety And Respect, Belonging,
up and running 24/7, 365 days a year. Solving be heard and every perspective is valued. Respecting
Operational Excellence Diversity and Equity
We live our purpose every day in a problems. Keeping promises. Putting safety first. differences, collaborating, being inclusive and striving
way that benefits our customers, our Operational excellence is a matter of pride and for balance. Bringing our whole self to the job, so we
communities and our shareho
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 8Our Sustainability
Principles:
Our sustainability principles are core to our business strategy and value
proposition and guide us in our central purpose. We are focused on driving action
in these critical focus areas:
Providing Carbon-Free Energy Carbon-Free Policy Advocacy
and Climate Mitigation
Commercial & Industrial Equity and Community
Customer Transformation Empowerment
Innovation and Technology Commitment to Diversity, Equity,
Enablement Inclusion and Belonging
Strong Corporate Governance
KEY LINKS
and Risk Management
What We Stand For
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 9Our Sustainable
Business Strategy
World leaders at the 28th
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 10Our Sustainable Business
Strategy Principles:
Power America’s Clean Provide Energy and Sustainability
Energy Future Solutions for Customers
Operate and grow the nation’s largest fleet of carbon-free, Provide reliable, resilient energy and deliver innovative sustainability
zero-emissions generation facilities, with world-class levels solutions that help customers achieve their carbon-free energy goals.
of safety, reliability and resiliency.
Expand America’s Largest Fleet Uplift and Strengthen
of Clean Energy Centers Our Communities
Leverage and expand our state-of-the-art clean energy assets by Advance respect, belonging, diversity and equity, and drive
co-locating with data centers, expl
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 11Our Business
Constellation is the nation’s largest
producer of clean, carbon-free energy and
a leading supplier of energy products and
services, including sustainable energy
solutions.
48 states Headquartered in
Operates in 48 U.S. states, the District
Baltimore
of Columbia, Canada and the United Kingdom.
~14,000
Employs almost 14,000 people.
>33,000 MWs
Constellation has a generating capacity
of more than 33,000 MWs and an annual ~2 million
output that is nearly 90 percent carbon-free,
Constellation serves approximately two
generating enough clean, carbon-free energy
million residential, public sector and business
to power the equivalent of 16 million homes.
customers through our family
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 12Green Financing Framework
We published our Green Financing Framework in March Constellation’s Green Financing Framework represents
2024 outlining our criteria to issue green bonds, which are the nation’s first nuclear-focused green financing and is a
financial instruments that are issued specifically to finance continuation of our strategy to validate our standing as the
projects or activities that deliver positive environmental or premier clean, carbon-free infrastructure company among
climate impacts. The framework states that proceeds will the fixed-income investor community.
finance or refinance existing and future projects that support
decarbonization of the energy sector in the U.S
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 13Constellation 2023-2024
Awards and Recognition
GREAT PLACE
Ranked ninth on Barron’s 100 Most Sustainable U.S.
BARRON’S Earned a 2023 Great Place to Work® Certification.
Companies 2024. TO WORK
CENTER FOR ENERGY Named a 2023 recipient of the Center for Energy Workforce
Named to JUST Capital’s 2024 JUST100, which measures how
Development’s Community Partnership Award for our impactful
JUST CAPITAL the nation’s largest corporations are performing on the business WORKFORCE
work through our Powering Change workforce development
issues that matter most to Americans. DEVELOPMENT (CEWD)
initiative, Constellation Scholarships and more.
Named a 2023 Supply Chain Diversity Leader by Supplier.io,
DE
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 142
Clean Energy Future
Powering America’s Clean, Carbon-Free Energy Future
16 / Accelerating the Clean Energy Future
34 / Managing Our Climate ImpactsAccelerating the Clean
Energy Future
At a glance At Constellation, we play an essential role in leading the transition to a clean
~10%
energy economy, advocating for change and preparing our communities
for the future. We pursue opportunities to increase our nuclear generation
We produce around 10 percent of the
capacity, with its unparalleled reliability, while helping customers achieve
clean, carbon-free energy in the U.S.
their own sustainability goals through innovations such as hourly carbon-free
energy matching and seeking to co-locate
Keyword: governance
The Corporate Governance Committee of the Constellation Board of Directors
75%
is tasked with reviewing our sustainability and climate change strategies,
including impacts on the economy and people and efforts to protect
with a carbon intensity, per megawatt
and improve the environment. For more information on oversight of our
hour (MWh) generated, 75 percent lower
sustainability programs, please see the Prioritizing Responsible Leadership
than our nearest U.S. industry peer.
and Governance section.
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 16Our Fleet of Clean,
Reliable Energy Assets
We produce around 10 percent of the clean, carbon-free
energy in the U.S. Our diverse generation portfolio serves
our nation’s energy ne
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 1721
Constellation owns and operates 21
active nuclear reactors in the Mid-
Atlantic, Northeast and Midwest and has
an ownership interest in four additional
reactors
22,070 MW
with a total capacity of 22,070 MW
67%
representing 67 percent of our total
generating capacity
~174 TWh
generating approximately 174 TWh of
carbon-free electricity in 2023
~122 Million
avoiding approximately 122 million metric
tons of CO e.
2
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 182,563 MW
Constellation also operates a fleet of
hydroelectric, wind, solar and storage
assets with a combined capacity of more
than 2,563 MW
~4 TWh
generating approximately 4 TWh of
carbon
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 19Our Nuclear Fleet
Constellation owns and operates 21 active nuclear reactors in the Mid-Atlantic, Across America, our nuclear fleet is the best-run by capacity factor, staying
Northeast and Midwest and has an ownership interest in four additional online 94.4 percent of the time on average in 2023. Our performance last
reactors with a total capacity of 22,070 MW, representing 67 percent of our year is a continuation of nearly two decades of maintaining best-in-industry
total generating capacity. In 2023, Constellation acquired a partial ownership nuclear capacity factors. This steady, around-the-clock performance provides
stake in the South Texas Electric Generating Station, a 2,645-MW du
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 20The grid hits peak load as consumers return home for the day and run
appliances, plug in EVs and turn on the air conditioning. This happens as
solar generation declines causing the grid to call upon dirtier resources like
dispatchable fossil generation.
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
DISPATCHABLE FOSSIL INTERMITTENT WIND BASELOAD/INTERMITTENT FOSSIL
BATTERY STORAGE INTERMITTENT SOLAR NUCLEAR
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 21
)WM(
ygrenE
Without this reserve of fossil fuel-powered dispatchable This chart shows a representative hot day with relatively low wind
generation capacity, supply constraints can
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 22Our Renewable and Hydroelectric Our Natural Gas and Oil Assets
Hydroelectric Assets
In Maryland and Pennsylvania, we own and operate two hydroelectric power plants along Equally important to transitioning to clean, safe, reliable
the Susquehanna River: Conowingo Hydroelectric Generating Station, a clean, run-of- and cost-effective power is ensuring that energy supply
In addition to our nuclear fleet, river hydroelectric facility, and Muddy Run, a pumped storage hydroelectric facility. These can meet customer demand, especially when intermittent
Constellation owns and operates hydroelectric assets provide much needed load-leveling power to the Mid-Atlantic region. generation assets are un
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 23Investing in a Clean
Energy Future
Investments Tackling the climate crisis by maintaining and expanding our The support for new clean energy in the IRA has allowed capabilities and characteristics can help developers of new
clean energy capacity is foundational to our growth strategy us to reexamine uprate opportunities in our fleet that were clean, firm generation overcome challenges. For example,
in New Clean
and vital to efficiently achieving a decarbonized American previously uneconomic due to poor market conditions. For we are exploring long-term contracting structures that will
Energy Capacity economy. We are helping to bring more clean energy to example, we are investing $800 mill
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 24Clean Energy Our nuclear generation facilities are clean energy centers that They are critical infrastructure that require a significant
have positive benefits beyond their current use as a baseload amount of energy to operate.
Centers
carbon-free energy source and provider of electricity to the
electric grid. These facilities can support production of clean Powering data centers and other co-location applications
hydrogen and other sustainable fuels as well as power direct with nuclear energy will help preserve our largest and most
air capture technology to remove CO from the atmosphere. reliable source of clean energy. In the decade prior to passage
2
Some customers may locate their fa
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 25Technology We believe that achieving a clean energy future will require investment in and that promotes, develops and licenses a proprietary process for efficiently
commercialization of emerging technologies. This vision includes our research generating electricity from natural gas while capturing all CO emissions.
2
Enablement &
and development and grants program with leading universities and national NET Power’s revolutionary patented technology captures over 97 percent of
Advancement laboratories. Working with research institutions such as the Massachusetts CO 2 emissions from power generation by combusting natural gas with pure
Institute of Technology, Argonne National Laboratory, th
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 26Clean Hydrogen Production To support a transformative decarbonization
pathway, Constellation is a participant in LevelTen Energy
Hydrogen can be produced from clean
the Midwest Alliance for Clean Hydrogen
electricity through electrolysis, which splits
(MachH2), comprised of more than 70 public
water molecules to produce hydrogen and
and private entities across the hydrogen
One of CTV’s active investments, LevelTen Energy, helps with LevelTen further enhances our ability to offer robust
oxygen. This hydrogen can be used as fuel or
value chain. In 2023, MachH2 was selected
renewable energy buyers, sellers, advisors and financiers hourly carbon-free energy supply structures to our
converted
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 27Sustainable Product
Portfolio
Our integrated commercial platform is designed to empower existing and
future customers in how they buy, manage and use energy. We provide
customized tools and solutions that enable our customers to meet their
sustainability and carbon reduction targets, measure their carbon footprint,
increase access to clean, carbon-free power, improve energy efficiency and
reduce emissions. Not only does our sustainable product portfolio enable our
customers to accelerate their own transition to a carbon-free future, but it
also drives the development of future clean energy technologies.
Customer demand for sustainable energy products and services will
accelerate as custo
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 28Hourly Carbon-Free Constellation Offsite Constellation
Energy Matching Renewables (CORe) Navigator
Hourly Carbon-Free Energy Matching is an hourly CORe is a suite of product offerings that allows our Constellation Navigator is a platform that guides
matching platform and electricity supply solution that customers to access utility scale, third-party renewable commercial and industrial (C&I) customers along
enables us to continuously match our customers’ power generation projects through the simplicity of a physical, their full sustainability journey by providing them with
consumption with regional carbon-free energy sources load-following energy supply contract with Constellation. data a
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 29Constellation Constellation Efficiency Made Easy® (EME)
Sustainable Gas Energy Solutions
EME is a program that enables customers to identify, implement and fulfill efficiency
improvements with no upfront cost, helping to reduce energy costs, modernize
(CES)
and Carbon Offsets
facilities and meet sustainability goals. Since EME’s establishment in 2011, we have
helped fund more than $400 million in energy efficiency projects for thousands of
Constellation customers. For more information, please see the Efficiency Made Easy
Constellation’s sustainable gas and carbon offsets CES develops and designs energy efficiency and
section on our website.
offerings include products such as renewable re
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 30Alaska Municipal League Among First
to Use Innovative Energy Management
and Sustainability Tracking Tool
Constellation and the Alaska Municipal League (AML) whole as well as community-level inventories, including
have collaborated to develop a GHG and criteria information from 245 communities across the state.
air pollutant emissions inventory map tool through Developing community emission inventory data into
Constellation Navigator’s carbon accounting platform. usable community- and asset-level data visualization and
AML indicated that Alaska has often been excluded calculation will allow these small communities to develop
from national modeling tools in the past due to its an emissions
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 31Sustainability Constellation has a long history of working with policymakers at Preservation and Expansion of Nuclear Gallup:
all levels of government to enact comprehensive regulations and
Generation
Engagement & 55%
legislation that drive decarbonization and benefit consumers,
Policy Advocacy shareholders, our business, the communities we serve and The first Global Stocktake of progress on the implementation
the planet. We work with broad-based coalitions to advocate of the Paris Agreement, released in 2023, recognizes the critical 55 percent favor nuclear energy as a
for policies that support clean, carbon-free energy generation, nature of new and existing nuclear generation in any cr
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 32Constellation has worked to build on these opportunities through Hourly Accounting of Clean Energy Generation
collaborations with grassroots organizations advocating for the preservation
We support the development of technology to more accurately track clean
of nuclear energy nationwide.
energy generation and report GHG emissions through our advocacy work
with federal and state governments, participation in industry trade groups
We also support the expansion of nuclear energy around the world and in
and involvement with other non-governmental organizations. By enabling an
2023, we signed the Net Zero Nuclear Industry Pledge, along with 120 nuclear
evolution towards hourly accounting, com
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 33Managing Our Climate Impacts
As industry leaders, we are committed to operating our businesses in a socially
responsible, sustainable manner by reducing our GHG emissions. Our Climate Change
Policy guides our clean energy and climate strategy and reinforces our commitment to
support meaningful climate action, within our own operations and beyond.
GHG Emissions While Constellation plays a leading role in the transition to increase in emissions from long-term and spot market power Moving forward, we intend to only count reductions in our
a clean energy economy, we recognize that our operations purchases for resale. market-based Scope 2 inventory if our energy consumption
Performance
can co
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INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 34Climate Commitments Clean Electricity Supply:
95% Carbon-free Generation 100% Carbon-free Generation
We commit that our owned electricity generation will
A critical aspect of our sustainable business strategy is our
by 2030 by 2040
be 95 percent carbon-free by 2030 and 100 percent
commitment to achieving our own climate goals, which aim
carbon-free by 2040.16
to accelerate a carbon-free future by continuing to expand
the capabilities of our carbon-free energy generation and
16 Subject to policy support and technology
reduce our Scope 1 and 2 GHG emissions. advancements
2030 2040
In 2022, Constellation established the following climate
commitments that fully cover our Scope 1 and 2 GHG
em
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 35control (i.e., Scope 1 and 2). Constellation has already
Constellation’s Generation Carbon Intensity
reduced our fleet’s generation carbon intensity in
terms of metric tons of CO per MWh generated
2 (Metric Ton / MWh) Versus Power Generation Industry-Wide
by 49 percent since 2013. Our target of 95 percent
Decarbonization Trajectories
carbon-free electricity generation by 2030 translates
to a reduction of another 50 percent from our 2023
generation carbon intensity by 2030, and 100 percent
reduction by 2040. We are already well ahead of
industry-wide trajectories for limiting global warming Historical Actual
Metric tons CO / MWh
0.700
2
to 1.5 degrees Celsius and below 2 degrees Celsius,
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INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 36Climate Roadmap
In 2023, we undertook a project to develop a roadmap for achieving our
climate goals, identifying feasible pathways to meet these commitments,
with an initial focus on our interim targets in 2030.
Clean Electricity • Maintaining and extending the life of our nuclear fleet.
Supply:
• Growing our clean electricity fleet through nuclear uprates and
acquisitions of nuclear or renewable assets.
For our clean electricity • Retiring uneconomic fossil fuel generation units.
supply commitment, we
identified the following • Decarbonizing our natural gas fleet through technology interventions,
potential actions: such as blending natural gas with alternative fuels like clean hydrogen
Keyword: governance
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 37INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 38
eOC
snot
cirtem
dnasuohT
2
Operational Emissions Methane Emissions
Reduction: Reduction: Potential Actions to Achieve 2030 Operational
Emissions Reduction Interim Goal
Our interim operational target of 65 percent reduction by
We have identified technology options for reducing methane 168k across all 3 actions
2030, from a 2020 baseline, will require a wide range of
emissions by up to 30 percent at our Everett LNG Terminal that
decarbonization efforts, but we believe that we can achieve this
250k
reduce emissions by capturing and utilizing methane in other 256k -48k
target by 2030 through the following potential actions:
processes. We are exploring those options to identify the most
cost
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INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 393
Governance
Upholding Strong
Governance Principles
41 / Prioritizing Responsible Leadership and Governance
44 / Maintaining Ethical Business Conducts
46 / Protecting CybersecurityPrioritizing Responsible
Leadership and Governance
Accelerating the transition to a carbon-free future
Constellation's Board of Directors
requires a strong foundation of governance and ethics.
Robust policies and expert leadership drive our financial
success and responsible growth and enable us to deliver
on our commitments.
The Corporate Governance Committee The Nuclear Oversight Committee
Board Governance reviews sustainability and climate change strategies, including efforts to oversees environmental and saf
Keyword: governance
with best practices in governance through evaluation
of executive compensation and corporate citizenship reviews Securities and Exchange Commission (SEC) disclosures related is actively involved in reviewing policies related to executive
initiatives including sustainability, environmental to environmental, human capital and cybersecurity risks, and maintains compensation, talent development and DEI, monitoring and shaping
stewardship and social responsibility. oversight of the independent auditor. The committee also reviews the corporate culture and evaluating potential sustain§ability metrics for
processes by which the company assesses and manages sustainability- compensation programs.
related risks as part of the broader enterprise risk management
18 Directors are consid
Keyword: governance
Corporate Governance Principles.
INTRODUCTION CLEAN ENERGY GOVERNANCE COMMUNITIES ENVIRONMENT SUSTAINABILITY REPORT 2024 41To ensure effective governance, the Board delegates Sustainability Governance and largest institutional investors and utilizing various We also maintain memberships with and actively
specific aspects of our sustainability oversight to four communication methods such as calls, meetings, participate in trade associations and other
Stakeholder Engagement
standing committees. The responsibilities of each publications and surveys to engage with other organizations to further our sustainability efforts,
committee are outlined in their respective charters, stakeholders throughout the year. advance the adoption of clean energy technology and
We ta
Keyword: governance
governance and various executive team members
We also have an active shareholder engagement please see the Global Reporting Initiative (GRI)
play a pivotal role in supporting our sustainability
Reviewing the composition of our Board is crucial to process which provides valuable insights for the indicator 2-28: Membership associations in our
initiatives. The Constellation Sustainability Council is
ensuring we maintain alignment with organizational Board and its committees into investor perspectives Reporting Frameworks Content Index.
overseen by the Vice President of Sustainability and
objectives and foster a diverse range of perspectives and priorities. As part of the shareholder engagement
Climate Strategy and consists of a cross-functional
and expe