Creating the World’s First Green Hydrogen Ecosystem: Plug Publishes 2022 ESG Report
“The promise of green hydrogen is here today – driven by Plug’s innovation and the vision of our customers.” – Andy Marsh, CEO
For 25 years, Plug’s foundation has exemplified responsible environmental and social governance that incorporates thoughtful decision-making in every corner of the company. Plug is proud to be a leader in the expansion of the hydrogen economy, which has the power to help decarbonize various sectors as world leaders work toward net-zero goals. Today, Plug owns key elements of the broader hydrogen value chain – fuel cells, hydrogen infrastructure, electrolyzers, green hydrogen and liquefaction. This is the culmination of our long-term strategy to create momentum, wherein the growth of each of our product lines compounds and impacts others, scaling hydrogen infrastructure quickly and efficiently. Our foundation has always been built on responsible environmental and social governance, and the company is proud to lead by example in the expansion of the green hydrogen economy.
In this year’s report, which you can read in full here, we share the company’s achievements and milestones towards ESG made in 2022. The report highlights the company’s commitment to responsible environmental and social governance, its efforts to diversify and decarbonize the energy industry, and its contribution to global efforts toward achieving net-zero goals. The letter sheds light on Plug’s operational milestones, its efforts toward tracking its Scope 1 and 2 emissions, its commitment to diversity, equity, and inclusion, and the findings from our first qualitative climate risk and opportunity assessment.
Plug’s mission is centered around the goal of facilitating the widespread adoption of hydrogen as an alternative energy source. By making it easier for businesses to switch to hydrogen, Plug is helping to drive the transition towards a greener, more sustainable economy. In pursuit of this mission, Plug is constantly evaluating its impact on society and the environment, and striving to minimize negative effects. With a recognition of the urgent need to reduce our reliance on fossil fuels, Plug is committed to the development and implementation of hydrogen fuel cells as a cleaner alternative. Through these efforts, Plug is making a significant contribution towards the ongoing effort to reduce our carbon footprint and create a more sustainable future for all.
In 2022, we conducted a materiality assessment with the assistance of Big 4 accounting firm PricewaterhouseCoopers to gain an understanding of which ESG topics were most relevant for us and our stakeholders. In addition to developing a greenhouse gas (GHG) inventory, Plug has also started collecting water usage data. As a key input in the electrolyzer process, it is paramount that Plug understands its water consumption and its effects on local communities.
Our hydrogen generation facilities will play a crucial role in the decarbonization of heavy industries, and we’re rapidly expanding hydrogen infrastructure. Our first green hydrogen plant in Georgia is set to commence hydrogen production on schedule at the end of the second quarter. However, this is just the beginning – by 2025, Plug will be producing 500 tons of hydrogen per day here in the U.S. We are also constructing green hydrogen plants in Europe, including significant projects at the Port of Antwerp-Bruges and in collaboration with our partner Acciona in Spain. All our plants will employ Plug electrolyzers and Plug cryogenic equipment to produce and deliver liquid hydrogen using Plug trailers.
Through this report, we demonstrate Plug’s ability to scale the hydrogen economy, as carbon-intensive industries around the world seek to decarbonize and reduce their reliance on fossil fuels. Plug remains committed to being the unmatched leader in the green hydrogen economy, and will continue to build the dream of a sustainable future.