Jul 27, 2020
"This isn't just a pie-in-the-sky commitment or announcement.
This is something that we spent a lot of time researching and
analyzing and studying," DTE Gas Co. President and COO Matt Paul
said of the company's plan to achieve net-zero emissions by
2050.
Paul made the comment in an exclusive interview with ESG
Insider, an S&P Global podcast about environmental, social and
governance issues.
DTE Gas parent company DTE Energy is among the largest
electric and gas companies in the U.S. and serves 2.2 million
electricity customers and 1.3 million gas customers in Michigan. In
June, it expanded its existing goal of achieving net-zero
greenhouse gas emissions by 2050 to also include its natural gas
distribution and gas retail sales operations. The company joins a
growing list of U.S. electric and gas utilities that have made deep
decarbonization pledges.
But achieving net-zero emissions can be a complicated feat and
requires different strategies for different types of companies. For
example, electric utilities can reduce the majority of their carbon
emissions by retiring coal-fired power plants and replacing that
generation with wind, solar and battery projects. However, not all
companies have the option of changing their power fleet to achieve
their goal.
In the interview, Paul detailed DTE Gas' strategy for
achieving net-zero emissions within its operations and from
suppliers, such as oil and gas drillers and owners of major
interstate pipelines that transport the gas to its distribution
system. Paul also noted that DTE Gas is looking to help customers
who use natural gas for home heating and other purposes offset
their associated emissions.
Paul said that the company will need to rely on carbon offsets
for a portion of its goal and described how DTE Gas is already
taking steps to ensure those options are available for the
future.
Listen the episode to hear the full interview, and subscriber
to ESG Insider to catch future episodes.
(Photo: AP)