Quanta Services Releases 2021 Sustainability Report
Discusses Progress Across Key Sustainability Pillars and Highlights Our Leading Role in Enabling the Energy Transition
HOUSTON, Aug. 25, 2022 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) announced today the release of its 2021 Sustainability Report. The report discusses the Company's accomplishments last year and marks a key milestone for Quanta as we publish our first consolidated set of sustainability metrics, including our Scope 1 and 2 emissions. Titled, "Connecting People, Powering Tomorrow," the report discusses Quanta's ongoing commitment to People, Planet and Principles and the important positive impact Quanta has on society through capitalizing on the megatrends and opportunities to help lead the energy transition and enable technological development in a just and equitable manner. Please visit https://sustainability.quantaservices.com to access the microsite and report.
"The decisions we make are motivated by what will benefit our employees, our customers, our stockholders and the communities where we live and work. I'm proud of the significant progress we have made on our sustainability initiatives over the past several years and the increased information and transparency we are able to provide in our 2021 report regarding our sustainability performance," said Duke Austin, Quanta's President and Chief Executive Officer. "Quanta's comprehensive infrastructure solutions position us to play a leading role in the transition towards a lower-carbon economy and allow us to support our customers' efforts to improve energy system resiliency and reliability and enable technologies that enhance our quality of life. These initiatives are estimated by industry sources to require hundreds of billions of dollars of investment in the next several decades, with a significant portion expected to be invested in renewable energy generation, electric transmission and distribution systems, electric vehicle charging and other forms of clean power infrastructure."
Quanta's 2021 Sustainability Report is guided by several reporting frameworks, including the Global Reporting Initiative (GRI), Task Force on Climate-related Financial Disclosures (TCFD), Sustainability Accounting Standards Board (SASB) and the UN Sustainable Development Goals (SDGs). Additionally, the report discusses the Company's progress across four categories and includes the highlights below:
- Acquired Blattner Holding Company and its operating subsidiaries (Blattner) in 2021, giving Quanta an industry-leading renewable energy infrastructure solutions platform. During 2021, Blattner completed projects that installed 6,857 MW of wind and solar generating capacity and battery storage projects, which is estimated to avoid approximately 11.9 m tons of CO2 emissions.
- Supported our customers to an unprecedented level with our industry-leading emergency response services, including approximately 1.8 M man-hours spent restoring electric power service to millions of people in response to named storms.
- Built significant environmental reporting capacity, enabling the collection of CO2 emissions data across 70,000+ vehicle assets and 1,000+ owned and leased properties.
- Reduced CO2 intensity (gCO2 / $ revenue) measured from our vehicle fleet by approximately 10.5% since 2019.
- Increased training of individuals from traditionally underrepresented ethnic and racial groups at campus career programs at Northwest Lineman College (NLC) to 31% in 2021.
- Increased diverse supplier spending to $742 million in 2021, a 9% increase from 2020.
- Completed our first sustainability assessment to identify and prioritize sustainability topics most important to Quanta's business and stakeholders.
- Increased Board diversity to 30% female.
Quanta's 2021 Sustainability Report, 4-page Sustainability Tear Sheet and Sustainability Data Metrics detailing our three-year performance trends are available for download on Quanta's website.
Quanta is a leading specialized contracting services company, delivering comprehensive infrastructure solutions for the utility, renewable energy, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com.
This press release (and any oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements relating to expectations regarding opportunities, technological developments, competitive positioning, future economic and regulatory conditions and other trends in particular markets or industries, including with respect to Quanta's increased operations in the renewable energy market and the transition to a carbon-neutral economy; expectations regarding Quanta's plans, strategies and opportunities; the potential benefits from, and future financial and operational performance of, acquired businesses, including Blattner; the business plans or financial condition of our customers, including with respect to transition to a reduced-carbon economy; the development of and opportunities with respect to future projects, including renewable energy projects and other projects designed to support transition to a carbon-neutral economy, electrical grid modernization, upgrade and hardening projects, and larger transmission and pipeline projects; as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. These forward-looking statements are not guarantees of future performance; rather they involve or rely on a number of risks, uncertainties, and assumptions that are difficult to predict or are beyond our control, and reflect management's beliefs and assumptions based on information available at the time the statements are made. We caution you that actual outcomes and results may differ materially from what is expressed, implied, or forecasted by our forward-looking statements and that any or all of our forward-looking statements may turn out to be inaccurate or incorrect. Forward-looking statements can be affected by inaccurate assumptions and by known or unknown risks and uncertainties including, among others, market, industry, economic, financial or political conditions that are outside of the control of Quanta; trends and growth opportunities in relevant markets, including our ability to obtain future project awards; technological advancements and market developments that could reduce demand for our services; Quanta's ability to generate internal growth; competition in Quanta's business, including the ability to effectively compete for new projects and market share; the failure of existing or potential legislative actions and initiatives to result in demand for Quanta's services; inability to successfully identify, complete, integrate and realize synergies from acquisitions or retain key personnel from acquired businesses, including Blattner; and other risks and uncertainties detailed in Quanta's Annual Report on Form 10-K for the year ended Dec. 31, 2021, Quanta's Quarterly Reports on Form 10-Q for the quarters ended Mar. 31, 2022 and June 30, 2022, and any other documents that Quanta files with the Securities and Exchange Commission (SEC). For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through the company's website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this press release.
Investors - Kip Rupp, CFA, IRC
Media – Liz James
Quanta Services, Inc.
View original content to download multimedia:https://www.prnewswire.com/news-releases/quanta-services-releases-2021-sustainability-report-301612120.html
SOURCE Quanta Services, Inc.
Released August 25, 2022