HONOLULU, Sept. 15, 2020 /PRNewswire/ -- Hawaiian Electric Industries, Inc. (HEI) (NYSE: HE) today released its first consolidated report describing its policies, actions and performance data with respect to environmental, social and governance and sustainability-related matters. Such reports are frequently referred to as "ESG" reports and are becoming increasingly common as investors seek to understand how public companies are impacting the environment and society, as well as potential opportunities and risks to companies' long-term financial and operational strength.
"We're proud to issue our first consolidated HEI ESG report to help customers, employees, investors and other stakeholders understand how HEI's strategies and operations advance ESG outcomes and create long-term value for all stakeholders," said Connie Lau, HEI president and CEO.
"While this is our first consolidated HEI ESG report, ESG principles and sustainability have long been fundamental values of HEI, so much so that we've often said that ESG is in our DNA. With all of our operations in the middle of the Pacific Ocean, we know that our company's long-term health is inextricably linked with the strength of the economy, communities, and environment of the Hawaiian Islands. This linkage is all the more clear in the context of the COVID-19 pandemic, and we're working hard to help our customers, employees and communities through this period and to help our economy recover," said Lau.
The new report is aligned with Sustainability Accounting Standards Board (SASB) disclosure standards relevant to HEI's utility and bank subsidiaries. The report reflects HEI's commitment to transparency and the growing emphasis that investors, credit rating agencies, individual shareholders and community organizations are placing on ESG performance data. In future reports, as HEI continues to evolve its ESG reporting, the company plans to incorporate disclosures aligned with Task Force on Climate-related Financial Disclosures (TCFD) guidance.
The report describes HEI's efforts to strengthen and diversify Hawaii's economy, help develop the kind of workforce HEI and Hawaii will need to meet future challenges and ensure that the benefits of renewable energy are shared by all.
Highlights in HEI's first consolidated ESG report include:
To review the HEI ESG report in its entirety, go to hei.com/esg.
HEI supplies power to approximately 95% of Hawaii's population through its electric utility, Hawaiian Electric; provides a wide array of banking and other financial services to consumers and businesses through American Savings Bank, one of Hawaii's largest financial institutions; and helps advance Hawaii's clean energy and sustainability goals through investments by its non-regulated subsidiary, Pacific Current, LLC.
Investor ContactJulie SmolinskiDirector, Investor Relationsir@hei.com(808) 543-7300
Media ContactAJ HalagaoVP, Corporate & Community Advancementinfo@hei.com(808) 543-7625
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SOURCE Hawaiian Electric Industries, Inc.