US energy company PPL Corporation has set a goal to achieve net zero carbon emissions by 2050.
It is currently on track to achieve a 70% reduction in emissions by 2035 and is targeting a reduction of 80% by 2040, compared to 2010 levels.
Through 2020, the company reduced its emissions by nearly 60% from 2010 levels.
PPL’s interim targets and new net zero goal cover greenhouse gas emissions from generation and other sources and intends to achieve them through investments in research and development of clean energy technologies to decarbonise remaining fossil fuel generation.
The company, which provides gas and electricity to more than 2.5 million customers in the US, also plans to retire existing coal plants in Kentucky and replace them with a mix of renewable and gas portfolio as well as reduce its energy use, increase the electrification of fleet vehicles and cut emissions associated with transmission and distribution equipment and gas distribution.
In addition, it is currently undertaking an enterprise-wide initiative to enhance its clean energy strategy.
Vincent Sorgi, PPL President and Chief Executive Officer said: “PPL is fully committed to driving innovation that enables us to achieve net zero carbon emissions by 2050 and ensuring a balanced, responsible and just transition for our employees, communities and customers as we advance toward our clean energy goals.”