Patricia Vincent-collawn on ESG
From Pat Collawn Shares PNM's Formula for Success: Caring for Employees, Communities and the Environment · · Smart Electric Power Alliance
“Companies that move boldly on clean energy and ESG during the pandemic will be best positioned to move ahead. Investors are differentiating between companies with fossil portfolios and those without, and we have a concrete plan to get out of fossil fuels.”
On , Patricia Vincent-collawn, Chairman & Chief Executive Officer at TXNM ENERGY INC, spoke about ESG during Pat Collawn Shares PNM's Formula for Success: Caring for Employees, Communities and the Environment on Smart Electric Power Alliance.
About Patricia Vincent-collawn
Patricia Vincent-Collawn, chairman and CEO of PNM Resources, has spoken about the company's transition to clean energy and its impact on customers and communities. In a September 2020 interview, she stated that PNM set a target in April 2019 to achieve carbon-free energy by 2040, which she described as "one of the most wonderfully aggressive" goals among utilities. She attributed the company's clean energy focus to its history, noting that PNM had wind power on its system in 2003 and supported climate action and legislation such as the Waxman-Markey bill in 2009. Vincent-Collawn said the transition was accelerated in 2011 when the Environmental Protection Agency requested the installation of selective catalytic reduction technology at the San Juan generating station, leading to the shutdown of two units and installation of better technology on others. She highlighted the Energy Transition Act passed in 2019, which she said sets a renewable portfolio standard of 80% by 2040 and 100% clean energy by 2045, and provides $40 million for job training and economic development for communities affected by coal plant closures. Vincent-Collawn has also discussed the impact of the COVID-19 pandemic on the company's plans, stating in the same interview that she believed it had a positive effect by increasing awareness of climate issues. She emphasized the importance of delegation for leaders, saying they must trust their teams to handle day-to-day operations while focusing on long-term vision. In a 2019 interview, she discussed the differences in energy markets between New Mexico and Texas, noting that Texas allows customers to choose their energy provider, while New Mexico does not. She also spoke about diversity and inclusion in the utility industry, stating that she chairs the topic at the Edison Electric Institute and that 22% of regulated utility CEOs are female. In a 2013 forum, Vincent-Collawn commented on the need to develop all energy sources, including nuclear and renewables, while responsibly using fossil fuels, and emphasized the importance of collaboration between government, educational institutions, and businesses to find solutions.