Vol73-10 October 2023
Member newsletter for Southern Maryland Electric Cooperative
Lead sustainably in our community
SMECO’s mission is to put members first by delivering safe, reliable, affordable, and sustainable electricity and related services that exceed expectations in Southern Maryland. The Lead Sustainably in Our Community pillar of our 2023–2027 Strategic Plan not only addresses your cooperative’s short-term goals in preserving natural resources while balancing our commitment to financial health, but also establishes a firm framework to continue long into the future.
SMECO’s team will execute the priorities of this pillar in three primary ways:
- Reduce greenhouse gas (GHG) emissions and pollutants in our operations
- Deliver clean-energy solutions to help our members achieve a decarbonized future
- Partner with our stakeholders to develop the economy and advance energy-related social causes in Southern Maryland
We will measure our progress toward these efforts through our Environmental, Social, and Governance (ESG) reporting, and the financial rates and margins underlying our ability to access capital funding. Measured success in both areas will keep our focus on what is important in these areas. Measuring them together ensures that one area does not override the other. For example, going green at any cost would adversely impact our financial margins. Conversely, ignoring our environmental impact for short-term cost savings would damage our community with pollution, hinder our ability to meet the state’s GHG targets, and detract from our stated mission.
ESG reporting is new for us. Last year, we released our inaugural report, and our 2022 report just hit our website last month. It serves as a means to provide transparency into our work for all interested stakeholders. The report is public, and we stand behind our findings. We report the GHG emissions for our operations and the energy we procure and sell, our philanthropic efforts—including the generous volunteering of our committed staff, and the oversight of our operations through the member-elected Board of Directors and cooperative structure.