Pinnacle West Capital Corp
PNW
Utilities
3
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Pinnacle West Capital Corporation, through its regulated utility subsidiary Arizona Public Service (APS), operates a generation fleet that includes coal-fired power plants. The Four Corners Power Plant, in which APS holds a 15% ownership stake, is a large-scale coal-fired facility. While the company has announced plans to retire its coal units by 2031, coal remains a material part of its current generation mix and operational planning.
Pinnacle West Capital Corporation, through its subsidiary Arizona Public Service (APS), operates the Four Corners Power Plant in New Mexico, a coal-fired facility that has been a documented source of significant environmental contamination. The plant is a major emitter of hazardous air pollutants and its coal ash disposal practices have led to groundwater contamination. In 2022, the U.S. Environmental Protection Agency (EPA) finalized a rule designating the plant’s coal ash pond as requiring closure and cleanup due to groundwater pollution from arsenic, lithium, and other contaminants.
The environmental impact extends to local ecosystems and communities. The plant’s operations and associated San Juan Mine have been linked to degraded air quality and water pollution affecting the Navajo Nation. While Pinnacle West has announced plans to reduce its coal generation, the Four Corners plant is not scheduled for closure until 2031, prolonging its legacy of localized ecological damage from toxic byproducts.
Research Sources
1 organization
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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