The New York Power Authority on Aug. 2 released its first annual integrated report, which details the operations and activities carried out by NYPA and its subsidiary, the New York State Canal Corporation, in 2022.
The report takes an integrated approach to communicating the Power Authority’s performance, bringing together environmental, social and governance data and audited financial information to present a more comprehensive view of the Power Authority’s value creation process, NYPA said.
In particular, the report examines the value the Power Authority creates for the state, its customers, local communities, and employees through a wide range of activities and relationships focusing on three key areas of performance: enabling the just transition to a decarbonized New York state; empowering a resilient New York state through partnerships; and cultivating success as a team.
NYPA said VISION2030 is a core tenet of the report and focuses on five strategic priorities to achieve the clean energy goals of the Power Authority’s customers and the state. They include the Power Authority’s ongoing partnerships with customers to deliver clean and affordable energy solutions; pioneering the path to decarbonization while ensuring the reliability, resilience, and affordability of the state’s electric grid; facilitating the rapid development of transmission assets; preserving the value of hydropower; and adaptively reimagining the New York State canal system.
The Power Authority achieved progress on a myriad of major initiatives -- such as Next Generation Niagara, Smart Path and Central East Energy Connect -- and advanced our commitment to 100 percent carbon-free electricity by 2035.
The Power Authority “will lead the power generation sector by developing and publishing an action plan within the next two years to deliver upon its commitment to phase-out electricity production from its fossil fuel peaker power plants by 2030. NYPA will consider using the plants and the sites for renewable generation, energy storage or electric grid support needs,” it said.
NYPA has also implemented programs in partnership with customers and communities to help them achieve their sustainability and climate goals and continued to invest in its employees and their health and safety.
In addition to showing the Power Authority’s financial performance and progress towards meeting its VISION2030 strategy goals, it also shows the impact of the Power Authority’s performance on the environment and the community it serves.
“We are pleased to publish the first New York Power Authority Integrated Annual Report, which explains the importance of sustainability to NYPA and Canals,” said NYPA President and CEO Justin Driscoll. “NYPA is a first mover in integrating its ESG reporting with its financial reporting to provide a complete picture of the Power Authority’s business operations. This annual report will track NYPA’s progress as it endeavors to achieve its VISION2030 strategic goals and advance Governor Hochul’s nation-leading climate and clean energy agenda.”
The Power Authority will issue an annual Integrated Report moving forward.
To learn more about sustainability at NYPA, please visit nypa.gov/innovation/initiatives/sustainability.