Publication Date: May 18, 2016
Reporting Period: Jan. 1, 2015 – Dec. 31, 2015
Date of Previous Report: May 2014
Reporting Cycle: Annual
Report Boundary: Xcel Energy and its four utility subsidiaries
Contact Point: firstname.lastname@example.org
Xcel Energy’s Corporate Responsibility Report covers the company’s economic, environmental and social performance. We report on key initiatives and performance indicators important to stakeholders and Xcel Energy, as we continue to provide high quality energy service and meet the challenges of a changing energy marketplace.
This year marks the 11th year we have published this report. Our first Corporate Responsibility Report (formerly known as the Triple Bottom Line report) was published in April 2005, with the contents covering the 2004 calendar year, and we have published a similar report in each following year. In 2012, we began publishing the full report online. We believe the online format provides easier access to information for our stakeholders. Throughout the report, we provide links to information published in our other corporate reports, such as the Form 10-K and proxy statement. To raise awareness for our reporting and encourage stakeholders to access the report online, we print an overview publication that is distributed at our annual shareholders’ meeting and at other events throughout the year.
As a regulated, public utility we interact with stakeholders on a daily basis through:
Having a clear understanding of our stakeholders and our impact helps us set priorities and create a course of action to ensure a sustainable and socially responsible future. We cannot act effectively without considering input.
For the purposes of this report, our stakeholders are those individuals and groups who affect or are affected by our business operations. We have divided these stakeholders into five categories:
Xcel Energy continues to base its Corporate Responsibility Report on Global Reporting Initiative (GRI) guidelines, which we have used since 2008. This year’s report is based on GRI’s G4 guidelines in accordance with the Core option and the Electric Utilities Sector Specific Supplement. We have tried to meet the intent and follow the G4 guidelines as closely as possible; however, there are instances where we track information for disclosure differently or not at all, based on our company or stakeholder information needs. For more information, please see the GRI G4 Content Index.
Consistent with GRI’s G4 guidelines, we conducted our first materiality assessment for reporting in early 2015. For the purposes of our Corporate Responsibility Report, we identify issues important to Xcel Energy and our stakeholders that are associated with environmental, social and local economic matters. Material issues in this context are different from those related to investment decisions.
Xcel Energy’s materiality assessment for this report was done in a limited manner because it was the company’s first and was done for experience and learning purposes. We developed a questionnaire to ask stakeholders about their interests in 23 important sustainability or corporate social responsibility related issues. The issues were chosen based on the work of the Electric Power Research Institute’s Energy Sustainability Interest Group, of which Xcel Energy is a member, and also our own experience and interactions with stakeholders.
Company departments that maintain relationships with our stakeholders distributed the questionnaire. We had 97 stakeholders from throughout Xcel Energy’s eight-state service territory complete the questionnaire and results were weighted to reflect the customer base of our states.
After the stakeholder results were compiled, we compared stakeholder interests to the interests of Xcel Energy and our strategic plan and objectives. Overall, the results confirmed that there is alignment among stakeholders and Xcel Energy on important issues for the future.
Find other materials that we publish associated with this report.
Xcel Energy 2015 Energy and Carbon Reporting at a Glance
A PDF of Xcel Energy’s 2015 Corporate Responsibility Report
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