Quanta Services Releases 2023 Sustainability Report

News provided by

Sep 30, 2024, 06:55 ET

Includes Climate Goals Underscoring Quanta's Long-Term Ambition to Be a Critical Partner in Enabling the Energy Transition While Reducing the Carbon Intensity of Its Operational Footprint

HOUSTON, Sept. 30, 2024 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) announced today the release of its 2023 Sustainability Report. The report, titled "Forging the Future," highlights Quanta's critical role in enabling the energy transition and the company's vision to leave a measurable, sustainable legacy on people and our planet, with a steadfast focus on employees, customers and communities. The report includes Quanta's goal to grow its positive impact on society through collaboration with its customers on the energy transition, while reducing the carbon intensity of its operations. The report also provides transparency around Quanta's sustainability strategy and how the company is measuring its continued progress in 2023. Please visit https://sustainability.quantaservices.com to access the microsite and report.

"I'm proud of the continued progress of our sustainability program over the past several years. We have laid the foundation for us to establish goals that illustrate our dedication to a sustainable future and the energy transition. By collaborating with our customers on the future of energy, we believe that achieving these goals will yield positive environmental, social and economic benefits. We want Quanta's legacy to include being a part of a sustainable energy future for all," said Duke Austin, Quanta's President and Chief Executive Officer.

Quanta's sustainability strategy is to grow its positive impact on society by, among other things, supporting the acceleration of renewable generation expansion and power grid infrastructure. Quanta has set three climate-related goals that span different time horizons and address what it believes are some of the most relevant areas of its business:

Energy Transition Impact

Install at least 100 GW of renewable energy generation capacity by 2035 or earlier.

Scope 1 Emissions Footprint

Reduce scope 1 CO2 intensity (gCO2 / revenues) by at least 30% by 2040 or earlier.

Scope 2 Emissions Footprint

Source renewable energy equivalent to the electricity consumption utilized at our North American facilities.

Further details about Quanta's goals, as well as additional sustainability data metrics detailing five-year performance trends, can be found in the 2023 Sustainability Report ─ available for download on Quanta's website.

About Quanta Services
Quanta Services is a leading specialized contracting services company, delivering comprehensive infrastructure solutions for the utility, renewable energy, technology, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com.

Cautionary Statement About Forward-Looking Statements and Information
This press release (and any oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements relating to expectations regarding opportunities, technological developments, competitive positioning, future economic and regulatory conditions and other trends in particular markets or industries, including with respect to Quanta's increased operations in the renewable energy market and the transition to a reduced-carbon economy; expectations regarding Quanta's goals, targets, intentions, plans, strategies and opportunities; the potential benefits from, and future financial and operational performance of, acquired businesses; the impact or benefit of our technological developments and innovations; the business plans or financial condition of our customers, including with respect to the transition to a reduced-carbon economy; the development of and opportunities with respect to future projects, including renewable energy projects and other projects designed to support transition to a reduced-carbon economy, electrical grid modernization projects, upgrade and hardening projects, and larger transmission and pipeline projects and data center projects; as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. These forward-looking statements are not guarantees of future performance; rather they involve or rely on a number of risks, uncertainties, and assumptions that are difficult to predict or are beyond our control, and reflect management's beliefs and assumptions based on information available at the time the statements are made. We caution you that actual outcomes and results may differ materially from what is expressed, implied, or forecasted by our forward-looking statements and that any or all of our forward-looking statements may turn out to be inaccurate or incorrect. Forward-looking statements can be affected by inaccurate assumptions and by known or unknown risks and uncertainties including, among others, market, industry, economic, financial or political conditions that are outside of the control of Quanta; trends and growth opportunities in relevant markets, including our ability to obtain future project awards; Quanta's ability to generate internal growth; competition in Quanta's business, including the ability to effectively compete for new projects and market share, as well as technological advancements and market developments that could reduce demand for our services; the failure of existing or potential legislative actions and initiatives to result in demand for Quanta's services or budgetary or other constraints that may reduce or eliminate tax incentives or government funding for projects, including renewable energy projects, which may result in project delays or cancellations; inability to successfully identify, complete, integrate and realize synergies from acquisitions or retain key personnel from acquired businesses; the unavailability of, or increased prices for, materials, equipment and consumables used in our and our customers' businesses, including as a result of inflation; supply chain or production disruptions; governmental regulations on sourcing; the imposition of tariffs, duties, taxes or other assessments; and other changes in U.S. trade relationships with foreign countries and other risks and uncertainties detailed in Quanta's Annual Report on Form 10-K for the year ended Dec. 31, 2023, Quanta's Quarterly Reports on Form 10-Q for the quarters ended Mar. 31, 2024 and June 30, 2024, and any other documents that Quanta files with the Securities and Exchange Commission (SEC). For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through the company's website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this press release.