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Carbon Disclosure Project: Con Edison Ranks Again as a Top Performer
According to the CDP, this year's report, produced by PricewaterhouseCoopers, received the highest response rate ever from corporations (409 responses, representing 82 percent of the Global 500, up from 77 percent last year), the highest level of disclosed corporate greenhouse gas emissions, and a doubling of response rates in the BRIC countries (Brazil, Russia, China, India), containing the greatest level of detail yet.
"We are located in the greatest city in the world, so it is satisfying to know that we are regarded among the best in affecting a positive change," said Kevin Burke, chairman, president and CEO of Con Edison. "Performance underscores successful climate governance policy, and it encourages further development of green policies, as well as sustainability and energy efficiency strategies that work for everyone."
Con Edison was recently placed on the Dow Jones Sustainability Index following a series of favorable, multi-year environmental recognitions that have included a mix of accolades from public agencies, private financial institutions, as well as the CDP.
As part of its commitment to sustainable business practices, Con Edison has achieved a 34 percent reduction in greenhouse gas emissions since 2000, stemming from a commitment to continuously improve infrastructure. The company has reduced sulfur-hexafluoride emissions from electric distribution equipment, utilized a greater percentage of natural-gas in its steam generation plants, and has implemented cogeneration technologies that reduced greenhouse gas emissions per energy-output unit, among other actions.
In two succeeding years, Innovest Strategic Value Advisors gave Con Edison a No. 1 and 2 ranking in North America, respectively, over a score of multi-utility companies for its environmental and social performance. (Innovest is dedicated to conducting performance analyses of companies that uncovers hidden value for investors' consideration.)
Con Edison also received recognition from both the Environmental Protection Agency (EPA) and the Department of Energy (DOE) for its commitment to reducing greenhouse gas emissions, and the company also received the Financial Times/Citi Private Bank Environmental Award two years ago for the greatest improvement in carbon efficiency by a large corporation in the Americas.
The CDP also placed Con Edison among its top-most U.S. utility rankings (1st and 3rd, respectively) in 2007 and 2008 for "Climate Governance," citing the company's approach to addressing climate change and its transparent disclosure practices on the issue. Thousands of organizations from across the world's major economies measure and disclose their greenhouse gas emissions and climate change strategies through the CDP.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy companies, with approximately $14 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 its two regulated utility subsidiaries and its three competitive energy businesses. For additional financial, operations and customer service information, visit Consolidated Edison, Inc.'s Web site at www.conedison.com.
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