United States securities and exchange commission logo
July 18, 2022
John W. Ketchum
President and Chief Executive Officer
NextEra Energy, Inc.
700 Universe Boulevard
Juno Beach, FL 33408
Re: NextEra Energy,
Inc.
Form 10-K for
Fiscal Year Ended December 31, 2021
Filed February 18,
2022
File No. 001-08841
Dear Mr. Ketchum:
We have reviewed your filing and have the following comments. In
some of our
comments, we may ask you to provide us with information so we may better
understand your
disclosure.
Please respond to these comments within ten business days by
providing the requested
information or advise us as soon as possible when you will respond. If
you do not believe our
comments apply to your facts and circumstances, please tell us why in
your response.
After reviewing your
response to these comments, we may have additional comments.
Form 10-K filed February 18, 2022
General
1. We note that you
provided more expansive disclosure in your 2022 Environmental, Social
and Governance Report
and Zero Carbon Blueprint than you provided in your SEC
filings. Please advise
us what consideration you gave to providing the same type of
climate-related
disclosure in your SEC filings as you provided in these reports.
Risk Factors, page 21
2. We note your 2022
Environmental, Social and Governance Report identifies climate
related risks that may
impact your business. Please revise to provide expanded disclosure
regarding the material
effects of transition risks related to climate change that may affect
your business,
financial condition, and results of operations, such as market trends that
may alter business
opportunities, credit risks or technological changes.
John W. Ketchum
NextEra Energy, Inc.
July 18, 2022
Page 2
Management's Discussion and Analysis of Financial Condition and Results of
Operations, page
35
3. We note your statement in your 2022 Environmental, Social and
Governance Report that
climate-related risks and opportunities have influenced our
financial plan for capital
expenditures, acquisitions and revenues. Revise your disclosure to
identify any material
past and/or future capital expenditures for climate-related projects.
Please provide
quantitative information for these types of expenditures for each of
the periods for which
financial statements are presented in your Form 10-K and for any
future periods as part of
your response.
4. To the extent material, discuss the indirect consequences of
climate-related regulation or
business trends, such as the following:
decreased demand for goods or services that produce significant
greenhouse gas
emissions or are related to carbon-based energy sources;
increased demand for goods that result in lower emissions than
competing products;
increased competition to develop innovative new products that
result in lower
emissions;
increased demand for generation and transmission of energy from
alternative energy
sources; and
any anticipated reputational risks resulting from operations or
products that produce
material greenhouse gas emissions.
5. If material, discuss the physical effects of climate change on your
operations and results.
This disclosure may include the following:
potential for indirect weather-related impacts that have affected
or may affect your
major customers and suppliers; and
any weather-related impacts on the cost or availability of
insurance.
Your response should include quantitative information for each of the
periods for which
financial statements are presented in your Form 10-K and explain
whether changes are
expected in future periods.
6. We note your disclosure on page 23 of your Form 10-K indicating the
incurrence of
significant capital, operating and other costs associated with
compliance with
environmental statutes, rules and regulations. Please tell us about
and quantify
compliance costs related to climate change for each of the periods
covered by your Form
10-K and whether increased amounts are expected to be incurred in
future periods.
7. We note your disclosures on pages 17 and 18 of your Form 10-K indicating
that your
NEER segment markets and trades energy-related commodity products,
including
renewable attributes and carbon offsets, and sells RECs and other
environmental
FirstName LastNameJohn W. Ketchum
attributes. Please provide us with quantitative information regarding
these types of
Comapany NameNextEra
transactions Energy,
for each Inc.
of the periods for which financial statements are
presented in your
July 18,Form
202210-K
Pageand
2 for any future periods.
FirstName LastName
John W. Ketchum
FirstName LastNameJohn W. Ketchum
NextEra Energy, Inc.
Comapany
July NameNextEra Energy, Inc.
18, 2022
July 18,
Page 3 2022 Page 3
FirstName LastName
We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.
Please contact Anuja A. Majmudar, Attorney-Adviser, at (202) 551-3844 or
Karina
Dorin, Attorney-Adviser, at (202) 551-3763 with any questions.
Sincerely,
Division of
Corporation Finance
Office of Energy &
Transportation