Statement of AEP’s Board of Directors
The AEP Board of Directors receives frequent reports from management about the company’s sustainability initiatives and financial reporting, policy matters, and social and economic performance. These issues are the subject of active discussion at Board meetings and Board committee meetings.
The AEP Board of Directors has assigned responsibility for overseeing the company’s sustainability initiatives to the Board’s Committee on Directors and Corporate Governance (the Committee). This report provides a comprehensive account of AEP’s performance, integrating financial with sustainability reporting. Stakeholders have expressed approval and appreciation for AEP’s leadership with this integrated approach to corporate reporting, and the Committee fully supports this approach.
Throughout the year, the Committee and company management review and discuss AEP’s sustainability initiatives in the context of environmental, social and governance (ESG) issues impacting the company. Our ability to create long-term value for our shareholders is linked to our ESG performance. This comprehensive report reflects our commitment to transparency on these issues.
The 2019 Corporate Accountability Report provides robust disclosure about AEP’s 2018 performance as well as a forward look of the company’s 2023 strategy. This report describes AEP’s ongoing transition to a clean energy future, including progress toward achieving carbon dioxide emissions reduction goals. It also outlines how the company is driving innovation to deliver on its customer promise, improving efficiencies for operational excellence, and preparing our workforce for the future.
The Committee believes this document provides a clear presentation of the company’s strategy and of its ESG performance. The Board has emphasized that management will continue to be evaluated by its success in executing the company’s strategic plan, including its ability to respond to changing circumstances.
Thomas E. Hoaglin
Lead Director of the AEP Board of Directors and Chairman of the Committee on Directors and Corporate Governance