Jim Rogers, the retired former CEO of Duke Energy was the first CEO of a major utility to address environmental issues and once named by Newsweek as one of the “50 Most Powerful People in the World”.
In his presentation at the Green Energy track at CHARGE 2016, Jim talked about the customer relationship during the transformation of the Power Industry in the United States.
Duke Energy has the reputation of being affordable, reliable and safe. No one would say that they were green, they were the highest contributors of Co2 in the United States.
You can’t brand yourself unless you walk the talk.
Duke Energy has cut down Co2 emissions by almost 30 per cent but Jim admits that although the number seems high and the amount of emissions cut is quite large, the company is still a major contributor of Co2 emissions in the United States. For the effort, the company has been on the Dow Jones sustainability index for eleven years.
Branding: it’s not what you say about yourself, but what others say about you.
In addition to cutting down emissions, the company has made some considerable investments in wind and solar as well as investing in solutions that provide customers with rooftop solar.
The key point in adapting to and investing in green technology is to be able to communicate with and educate different stakeholders. The customer expects affordability and the investor want to see that the company will see a return on their green energy investment.
As Jim put it, the company invested in where the wind blows and the sun shines as well as looking at opportunities where the regulatory environment is favourable towards green investment.