Our ability to make informed decisions and to drive and embrace change is predicated on the relationships we have with our various stakeholders and our commitment to transparency, collaboration and action. At AEP, stakeholder engagement is a strategic priority. From our day-to-day operations and planning for the future to delivering an exceptional customer experience and meeting our regulatory obligations, stakeholder engagement is core to our business.
Fundamentally, stakeholder engagement is about relationships and dialogue, and recognizing that our success is dependent on multiple constituencies – from customers, investors and regulators to employees and non-governmental organizations (NGOs). It builds rapport and a foundation of trust, which fuels buy-in, action and success. Through effective and ongoing engagement, we gain valuable insights about our business, the impacts we have on society and the environment, our strengths, potential risks, and opportunities for collaboration.
As interest in environment, social and governance (ESG) issues has increased, we have seen conversations with stakeholders evolve. For example, more and more investors are looking at ESG performance. Customers want to know that our sustainability values align with theirs – and that we can help them achieve their sustainability goals. Landowners are engaging with us as we replace aging infrastructure in their communities. Investors are asking how we are managing carbon risk and about our mitigation strategy. Still others want to know how they can collaborate with AEP to achieve the clean energy transition we are all seeking.
As we invest to modernize and improve reliability, resilience and security of the grid it’s important that we understand our stakeholders’ concerns and priorities and strive for mutual understanding and seek opportunities for collaboration.