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CMS Energy (CMS) to Attain Net-Zero GHG Emissions by 2050
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CMS Energy Corporation (CMS - Free Report) ,along with its principal subsidiary,Consumer Energy, recently announced its decarbonized goal to spur the greener environment movement of Michigan. The company aims at attaining net-zero greenhouse gas (GHG) emissions from the entire natural gas production and delivery system by 2050.
Sucha longer-term green energy goal of the company is in sync with the clean energy transition of Michigan away from fossil fuel.
Plans to Attain the Goal
In a bid to accomplish net-zero GHG emissions by 2050, CMS Energy intends to partner with customers to reduce their emissions by 20% by 2030. The company also seeks to modernize and upgrade its natural gas system to achieve net-zero methane emissions from its operations by 2030. In this context, CMS also prepared a 10-year Natural Gas Delivery Plan to continue to deliver safe, reliable, affordable and clean natural gas to its customers.
Also, its decarbonizing efforts include eliminating the usage of coal and encouraging renewable energy fuel sources usage in its electric operations by 2040. Additionally, as part of the fleet transformation initiative, CMS Energy plans to power one million electric vehicles in the communities it serves by 2030. These initiatives shall boost CMS Energy’s position in the booming clean energy market.
Peer Moves
The heightened awareness to decarbonize the environment resulted in most utilities committing to a carbon-neutral goal or equivalent.
Duke Energy (DUK - Free Report) aims to reach its target of net-zero carbon emissions from electric generation by 2050. In 2021, the company already lowered its carbon emissions by more than 44% since 2005 and is now expanding its 2050 net-zero goals to include Scope 2 and certain Scope 3 emissions.
Duke Energy boasts a long-term earnings growth rate of 6.1%. Shares of DUK have rallied 15.8% in the past year.
In February 2021, American Electric (AEP - Free Report) announced new intermediate and long-term CO2 emission reduction goals based on the output of the company’s integrated resource plans. The intermediate goal is an 80% reduction from 2000 CO2 emission levels from the company’s generating facilities by 2030 and the long-term goal is net-zero CO2 emissions from its generating facilities by 2050.
American Electric boasts a long-term growth rate of 5.8%. AEP shares have rallied 16.3% in the past year.
DTE Energy(DTE - Free Report) remains committed to reducing carbon emissions of its electric utility operations by 32% by 2023, 50% by 2030 and 80% by 2040 from 2005 carbon emissions levels. The company expanded this commitment by announcing a net-zero carbon emission goal for DTE Electric and DTE Gas by 2050.
DTE Energy boasts a long-term growth rate of 6%. DTE shares have appreciated 18.7% in the past six months.
Price Movement
In the past year, shares of CMS have rallied 14.7% compared with the industry’s growth of 10.9%.
Image: Bigstock
CMS Energy (CMS) to Attain Net-Zero GHG Emissions by 2050
CMS Energy Corporation (CMS - Free Report) ,along with its principal subsidiary,Consumer Energy, recently announced its decarbonized goal to spur the greener environment movement of Michigan. The company aims at attaining net-zero greenhouse gas (GHG) emissions from the entire natural gas production and delivery system by 2050.
Sucha longer-term green energy goal of the company is in sync with the clean energy transition of Michigan away from fossil fuel.
Plans to Attain the Goal
In a bid to accomplish net-zero GHG emissions by 2050, CMS Energy intends to partner with customers to reduce their emissions by 20% by 2030. The company also seeks to modernize and upgrade its natural gas system to achieve net-zero methane emissions from its operations by 2030. In this context, CMS also prepared a 10-year Natural Gas Delivery Plan to continue to deliver safe, reliable, affordable and clean natural gas to its customers.
Also, its decarbonizing efforts include eliminating the usage of coal and encouraging renewable energy fuel sources usage in its electric operations by 2040. Additionally, as part of the fleet transformation initiative, CMS Energy plans to power one million electric vehicles in the communities it serves by 2030. These initiatives shall boost CMS Energy’s position in the booming clean energy market.
Peer Moves
The heightened awareness to decarbonize the environment resulted in most utilities committing to a carbon-neutral goal or equivalent.
Duke Energy (DUK - Free Report) aims to reach its target of net-zero carbon emissions from electric generation by 2050. In 2021, the company already lowered its carbon emissions by more than 44% since 2005 and is now expanding its 2050 net-zero goals to include Scope 2 and certain Scope 3 emissions.
Duke Energy boasts a long-term earnings growth rate of 6.1%. Shares of DUK have rallied 15.8% in the past year.
In February 2021, American Electric (AEP - Free Report) announced new intermediate and long-term CO2 emission reduction goals based on the output of the company’s integrated resource plans. The intermediate goal is an 80% reduction from 2000 CO2 emission levels from the company’s generating facilities by 2030 and the long-term goal is net-zero CO2 emissions from its generating facilities by 2050.
American Electric boasts a long-term growth rate of 5.8%. AEP shares have rallied 16.3% in the past year.
DTE Energy(DTE - Free Report) remains committed to reducing carbon emissions of its electric utility operations by 32% by 2023, 50% by 2030 and 80% by 2040 from 2005 carbon emissions levels. The company expanded this commitment by announcing a net-zero carbon emission goal for DTE Electric and DTE Gas by 2050.
DTE Energy boasts a long-term growth rate of 6%. DTE shares have appreciated 18.7% in the past six months.
Price Movement
In the past year, shares of CMS have rallied 14.7% compared with the industry’s growth of 10.9%.
Image Source: Zacks Investment Researc
Zacks Rank
CMS Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.