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As a founding member of the
Chicago Climate Exchange in 2003, AEP committed to cumulatively reduce or
offset 46 million metric tons of carbon dioxide (CO2) by 2010.
Million metric tons
Through 2007, we have reduced or offset 43 million metric tons of CO2, and we are
on track to meet our commitment. We have done so by improving the efficiency of
existing plants; retiring older, inefficient units; substantially reducing the leakage
rate of sulfur hexafluoride (SF6) – a potent GHG – from transformers;
increasing renewable energy resources; and conserving trees and reforested lands
in the United States and abroad.
For the future, we have planned improvements to our existing power plants that will
further reduce GHG emissions by more than 400,000 tons per year by 2010. We outlined
our post-2010 strategy in our first Corporate Responsibility Report and predicted
our emissions would grow by as much as 10 million to 15 million tons annually between
2011 and 2020 as we build power plants. We committed to offset CO2 emissions by
an additional 5 million tons annually through offsets, as follows:
- Purchasing an additional 1,000 MW of new wind power by 2011 and adding some of it
in our eastern states. In 2007 we signed agreements to buy 275 MW of wind energy
that will serve customers in Indiana, Michigan, Virginia and West Virginia. In January
2008 we began receiving delivery of the first 75 MW of wind-generated power.
- Investing in domestic offsets. AEP signed an agreement in 2007 with the Environmental
Credit Corp. to purchase 4.6 million carbon credits (one carbon credit is equal
to reducing one metric ton of CO2) between 2010 and 2017. The credits would be created
by capturing and destroying methane on 200 U.S. livestock farms, at least half of
which will be within our 11-state service territory. The first two manure "lagoons"
to capture methane were completed on a farm in upstate New York in December. These
credits will offset 0.6 million metric ton of CO2 between 2011 and 2017.
- Increasing our investments in domestic offsets, including forestry, between 2011
and 2020. As described in the offsets section that follows, investments in new forestry
projects have been hampered by the conversion of lands to grow crops, often for
biofuels.
- Offsetting 0.2 million ton of CO2 emissions from our mobile fleet and aircraft.
We achieved this goal in 2007 and we took steps to increase the number of hybrid
electric vehicles in our 11,000-vehicle fleet. Of 542 light-duty vehicles planned
for purchase in the coming year, 31 percent will be hybrid or flex fuel.
We remain committed to our post-2010 climate change strategy in terms of the overall
goals, but our recent experiences demonstrate the need for flexibility in how we
can achieve them in a cost-effective manner. Some of the many tactics we are using
to reduce our carbon footprint are described in more detail below.
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Through 2007, AEP has reduced or offset 43 million metric tons of CO2, and we are on track to meet our Chicago Climate Exchange commitment.
Also see:
Climate Change & The Environment
in the Environmental Activities section.
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