Better Health for All
-60
Xcel Energy's facilities are suspected of igniting the Smokehouse Creek Fire in February 2024, which resulted in two deaths.
1
In November 2022, its Monticello Nuclear Plant leaked 829,000 gallons of tritium-contaminated water, leading to a $14,000 fine for improper handling and criticism over delayed public disclosure.
2
The company's energy mix includes 50% from fossil fuels, which have negative health impacts. However, Xcel Energy has significantly reduced sulfur dioxide emissions by 83% and nitrogen oxides by 85% from its power plants since 2005, and carbon emissions by 54% from 2005 levels, positively impacting public health.
3
The company also partnered to create a 100% renewable energy healthcare campus to enhance resilience and ensure uninterrupted patient care.
4
Fair Money & Economic Opportunity
0
Xcel Energy is a public utility company and does not offer consumer lending or deposit services. Consequently, most KPIs related to financial products, such as underserved client share, pricing fairness, exploitative fee exposure, inclusion initiatives (in the context of loan/insurance books), data accessibility (for finance data), fair lending compliance, wealth building outcomes (from financial products), debt burden ratio (from financial products), geographic inclusion (for financial access points), and product simplicity (for financial products), are not applicable and score 0. The company made $15.3 million in community investments in 2023
1
and $4.4 million in grants to nonprofits in 2022.
2
It also provided $187 million in energy and affordability assistance to 188,000 families in 2023.
3
Xcel Energy supports financial literacy programs for students through partnerships and employee volunteering.
4
However, the company's annual pre-tax profit is not provided, preventing the calculation for profit reinvestment.
Fair Pay & Worker Respect
40
Xcel Energy's CEO to median employee pay ratio was 95 to 1 in 2021.
1
Approximately 42% of the workforce was represented by bargaining units in 2022.
2
The company's OSHA Recordable Incident Rate for its eight-state service area was 0.9 in 2015.
3
The overall employee engagement score in 2022 was 73.
4
Voluntary employee turnover, including resignations and retirements, was approximately 9.86% in 2022. In 2019, temporary employees constituted 2% of the workforce.
5
Fair Trade & Ethical Sourcing
-10
Xcel Energy incorporates its Supplier Code of Conduct into all standard contract language, requiring suppliers to adhere to equal employment opportunity and affirmative action mandates, human rights, labor laws, environmental responsibility, anti-corruption, and fair competition.
1
The company may audit suppliers to confirm compliance with this Code.
2
Xcel Energy reports no substantiated forced or child labor incidents, supported by active supplier monitoring for various violations and periodic risk assessments.
3
In 2022, the company directed approximately 11% ($548 million) of its total spending on materials and services to diverse suppliers.
4
The company has a goal to increase this to 25% by 2025
5
and expects suppliers to promote diversity in their own supply chains.
6
Suppliers are also required not to use conflict minerals and to meet associated reporting requirements.
7
Honest & Fair Business
-30
Xcel Energy incurred $641 million in ethics-related regulatory penalties within the past three years.
1
This includes a $1 million fine from the Minnesota Public Utilities Commission on January 21, 2021, for delays in processing solar project interconnection requests, and a settlement of over $640 million related to the 2021 Marshall fire, where the company denies fault or negligence.
2
The company has a comprehensive anti-corruption policy, compliant with the Foreign Corrupt Practices Act, which explicitly prohibits facilitation payments and foreign political contributions.
3
This policy is overseen by an FCPA Governance Committee, includes risk assessments, and 100% of employees receive annual training on the Code of Conduct, with no documented incidents in 2022.
4
Xcel Energy also maintains a whistleblower policy that prohibits retaliation, offers a 24/7 anonymous third-party hotline, and is covered by the annual Code of Conduct training for all employees, though program effectiveness metrics are not publicly measured.
5
Kind to Animals
0
Xcel Energy has invested over $16 million since 2014 to enhance habitat for the lesser prairie chicken, an endangered species
1
, with a statistically significant annual rate of population increase reported from 2013-2020
2
. The company manages over 2,300 acres of pollinator habitats across multiple states
3
and has retrofitted over 2,650 power-line locations to protect avian species
4
. Its nesting programs have resulted in 473 peregrine falcons
5
and 50 bald eaglets born at company facilities
6
. Xcel Energy also undertakes fish habitat improvement projects
7
and has eliminated the use of neonicotinoids
8
. The company takes a leadership position in advancing animal welfare policy, demonstrated by its 2002 agreement with the U.S. Fish and Wildlife Service to create strategies protecting eagles and raptors from electrocution across 12 states
9
. It proactively engages with federal and state wildlife agencies on regulatory efforts, including avian and bat loss and lesser prairie chicken issues
10
, and actively collaborates with stakeholders on legislation
11
.
No War, No Weapons
0
No specific, quantifiable evidence was found in the provided articles to assess Xcel Energy Inc. against any of the defined Key Performance Indicators for the 'No War, No Weapons' ethical value.
1
The company's core business is electricity and natural gas utility services. While Xcel Energy has initiatives supporting military personnel and veterans, such as aiming for 10% of new hires to be veterans
2
and offering professional development programs,
3
these activities do not directly correspond to the specific metrics outlined in the rubric, which focus on arms contracts, dual-use technology, sales to sanctioned regimes, or peacebuilding investment as a proportion of revenue.
Planet-Friendly Business
-50
Xcel Energy's total Scope 1, 2, and 3 greenhouse gas emissions were 59.81 million metric tons CO2e in 2023.
1
The company produced 40% of its energy from renewable resources in 2023.
2
Its waste-to-energy plants achieved a 77% waste diversion rate.
3
In 2023, Xcel Energy recorded 6 environmental compliance violations, including 5 Notices of Violation or Compliance Advisories and a $14,000 fine for storing tritium-contaminated groundwater, totaling $43,300 in penalties.
4
,
5
The company has a net-zero carbon target for 2050, with an interim goal of an 80% reduction by 2030.
6
While its carbon emissions trajectory aligns with 1.5°C global warming scenarios, its targets are not SBTi-validated. Xcel Energy supports the Task Force on Climate-related Financial Disclosures (TCFD), having published its initial report in 2020 and fulfilling its recommendations.
7
Climate scenario analysis is conducted using IEA, NGFS, and NCA4 scenarios to test strategy resilience, aligning with 1.5°C and 2°C goals.
8
The company transparently discloses plans to retire multiple coal plants by 2028, 2030, and 2032.
9
Climate justice initiatives include an EV vision for equitable access to electric transportation and community support during the coal transition, with customer incentives for electric appliances.
10
Just transition programs provide advanced notice, retraining, and relocation opportunities for employees affected by coal plant retirements, alongside community partnerships for economic growth.
11
Respect for Cultures & Communities
60
Xcel Energy maintains over 40 partnerships with the Renewable Energy Wildlife Institute
1
and collaborates with various indigenous and local community groups, including MIGIZI, Solar Bear (Native-owned), Red Cliff Band, the Northern Cheyenne Tribe, the Prairie Island Indian Community, the Division of Indian Work, and the City of Minneapolis.
2
Over 94% of new hires in 2024 were recruited from the eight states Xcel Energy serves.
3
A formal grievance mechanism is available company-wide for employees, suppliers, customers, and other stakeholders to report human rights concerns to the Corporate Compliance and Business Conduct Office.
4
In 2024, 63% of total spending on materials and services was directed to small or local suppliers.
5
The company has incorporated measures to protect the Sand Creek Massacre National Historic Site's viewshed and cultural resources in the Towner Wind Project agreement
6
and engaged in collaborative discussions with the Northern Cheyenne Tribe to address potential impacts.
7
No cultural appropriation incidents have been reported.
8
Safe & Smart Tech
-10
Xcel Energy reported no material cybersecurity incidents or attacks affecting its business or operations as of February 2025
1
, indicating no significant data breaches in the past three years. The company conducts annual cybersecurity risk assessments across its business
2
and utilizes third-party consultants for independent penetration testing and vulnerability assessments of networks, servers, and applications.
3
Xcel Energy allows users to know, correct, and request deletion of their personal information
4
, but deletion is subject to certain limitations.
5
The company actively participates in state and federal initiatives examining privacy issues
6
, including efforts to develop a voluntary code of conduct for customer privacy.
7
However, Xcel Energy has faced significant regulatory challenges, including a $925,000 payment in a 2022 compliance agreement with the U.S. Environmental Protection Agency.
8
The Colorado Public Utilities Commission also rebuked the company for its "inability or unwillingness to comply" with orders regarding public access to grid data
9
and for refusing to make a required load map available to the public.
10
Zero Waste & Sustainable Products
-40
Xcel Energy has faced significant waste disposal violations, including a $925,000 payment to the EPA in 2022 related to a consent agreement for Comanche Station
1
, and ongoing groundwater exceedances at four coal ash facilities as of year-end 2022
2
. In 2024, the company received five compliance orders, advisories, or Notices of Violation
3
, including one for noncompliance with federal Coal Combustion Residuals Rules at Cherokee Station
4
. Additionally, 83 spill incidents were reported in 2022
5
and 95 in 2021
6
. Despite these issues, Xcel Energy diverted 77% of waste from landfills at its waste-to-energy plants in 2023
7
. Only 10% of the total hazardous waste generated in 2023 was disposed of in a landfill
8
, and 22% of coal ash was reused in 2024
9
. The company conducts annual internal facility audits
10
and routinely audits vendors managing high-risk waste materials
11
. Xcel Energy has implemented numerous waste reduction initiatives, such as the retirement of coal plants
12
, which has led to a 67% reduction in coal ash production since 2005
13
, with a target to wind down all production by the end of 2030
14
. Environmental expectations are included in its Supplier Code of Conduct
15
, and sustainability assessments are conducted for 119 suppliers, representing over 75% of annual spend
16
.