This blog is designed to highlight the diversity of views and news stories on urban energy topics that appear daily in the media. They are intended to provoke discussions on how cultural, geographic, political, and institutional influences shape the way energy markets operate and energy policies are made in cities around the world.
Wednesday, September 22, 2010
Sept. 21, 2010, 5:28 p.m. EDT ·
Con Edison Ranked # 1 as Environmental Leader
NEW YORK, NY, Sep 21, 2010 (MARKETWIRE via COMTEX) -- Consolidated Edison Inc. (Con Edison) has been ranked #1 among all S&P 500 companies by the Carbon Disclosure Project (CDP) in its Carbon Disclosure Leadership Index (CDLI), as well as #1 among utilities in the new Carbon Performance Leadership Index (CPLI).
The Performance Index recognizes companies that are taking action to reduce carbon emissions through strategy, governance, stakeholder communications, and action plans. The Leadership Index assesses the quality and totality of companies' carbon reporting.
The Company's listing on both of the Carbon Disclosure Indexes follows its inclusion on the Dow Jones Sustainability Index (DJSI) last week for the second consecutive year.
"Environmental leadership, sustainability and responsibility have been core values for us and should be for everyone," said Kevin Burke, Consolidated Edison's chairman, president, and CEO. "This is a simple, straightforward policy that serves shareholder, employee, and customer interests equally, as well as our national interest."
In its report to the Carbon Disclosure Project, Con Edison reported a 36 percent reduction in greenhouse gas emissions since 2005. These reductions are driven through the burning of cleaner fuels at steam generation plants, and through improvements in the electric and natural gas distribution systems that help to reduce emissions.
"The Carbon Disclosure Leadership Index recognizes companies that demonstrate good internal data management practices for understanding greenhouse gas emissions, including energy use," said Paul Dickinson, chief executive of the Carbon Disclosure Project. "Companies that make this index have also demonstrated clear consideration of how climate change is and will impact their business. As companies' understanding of climate change issues grows, they are better placed to take positive action to manage and mitigate risk."
Compiled by PricewaterhouseCoopers (PwC) on behalf of CDP, the indexes provide an evaluation tool for institutional investors. In 2010, it comprises 53 constituents of the S&P 500 Index based on analysis of the responses to the CDP's 2010 questionnaire, which focused on greenhouse gas emissions, emissions reduction targets, and risks and opportunities associated with climate change.
Consolidated Edison, Inc. (ED48.67, +0.22, +0.45%) is one of the nation's largest investor-owned, energy-delivery companies, with approximately $13 billion in annual revenues and $34 billion in assets.
The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas, and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,350 square mile area in southeastern New York State and adjacent sections of northern New Jersey and northeastern Pennsylvania; Con Edison Solutions, a retail energy supply and services company; Con Edison Energy, a wholesale energy supply company; and Con Edison Development, a company that participates in infrastructure projects.
Consolidated Edison is a Dow Jones Sustainability Index company, and also has been recognized for its environmental performance by the U.S. Environmental Protection Agency, the U.S. Department of Energy and other organizations.
For additional information, visit us on the Web at www.conEd.com, at our green site,www.conEd.com/thepowerofgreen, or find us on Facebook at Power of Green.