BALTIMORE (Feb. 8, 2024) — Constellation (Nasdaq: CEG), the nation’s largest producer of carbon-free energy, contributed $18.7 million in combined philanthropic giving in support of more than 4,400 charities in 2023. The donations represent a nearly 50% increase from the $12.5 million Constellation and its employees contributed in 2022, Constellation’s first year as a standalone company.
Constellation and the Constellation Foundation gave a combined $13.6 million, while its 13,000 employees donated the remaining $5.1 million. Employees also logged more than 102,000 volunteer service hours in support of community causes.
“Our role in the clean energy transition isn’t just about the carbon-free power we produce, it’s about ensuring that Americans of all backgrounds benefit from that transition,” said Joe Dominguez, president and CEO, Constellation. “As a company, we take immense pride in our commitment to uplift and strengthen our communities, creating greater economic opportunities for all.”
Constellation established the Constellation Foundation to expand the company’s philanthropic mission and further its commitment to investing long term in the communities it serves. The Foundation supports causes that are aligned with the company’s focus areas of climate & environment, equity & education and employee giving & volunteerism.
In its first year, the Foundation backed several signature efforts to prepare people from Constellation’s communities to join the growing clean energy workforce and remove barriers to family-sustaining careers. In July, the company launched its inaugural Youth Energy Summit (YES), an immersive experience for 35 rising high school juniors and seniors interested in pursuing careers in energy. Hosted at the University of Maryland, Baltimore County, YES provided hands-on STEM learning and trips to Constellation’s Calvert Cliffs Clean Energy Center and Conowingo Hydroelectric Dam. Following the summit, interested students have been matched with Constellation mentors to support them as they explore careers in clean energy.
The Foundation also supports the company’s Powering Change initiative, in which it partners with regional and national nonprofit organizations dedicated to breaking down employment barriers for people in historically underserved and underrepresented communities. Constellation teamed up with five organizations in Powering Change’s first year.
Additional highlights from Constellation’s 2023 giving and volunteerism include:
- Eighty-one percent of the company’s $8.1 million in direct grant funding supported organizations, programs or events that served diverse populations.
- The company provided direct community support in 31 states and Washington, D.C., with 83% of company philanthropic giving supporting Maryland, Illinois, New York, Pennsylvania and Texas, the states comprising Constellation’s largest operational, employee and customer footprints.
- Employee volunteer hours increased by 28% from 2022 to 2023.
To learn more about the company’s philanthropic efforts, including the Constellation Foundation, please visit www.constellation.com/community
######
Sep 20, 2024
