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Con Edison on Dow Jones Sustainability Index
The DJSI's best-in-class approach identifies sustainability leaders from each industry on global and regional levels. The analysis is conducted by SAM, an investment boutique focused exclusively on sustainability investing, with its results announced together with Dow Jones Indexes and STOXX Ltd., two leading global index providers.
SAM assesses a company's strategy and implementation with regard to issues that include corporate governance, risk management, branding, climate change mitigation, energy consumption, knowledge management, supply chain standards, and labor practices, measuring sustainability criteria in 58 different categories.
"Listing on the Dow Jones Sustainability Index is another important benchmark for us," said Randolph S. Price, vice president of Environment, Health and Safety at Con Edison. "Our corporate commitment on environmental, health, safety, and sustainability issues is a definitive part of our company and all its operations. The 14,000 people who work together at Con Edison understand how integral that commitment is to everything we do."
Ongoing company objectives include continually improving safety performance, ensuring Environment Health and Safety (EH&S) compliance, enhancing relationships with stakeholders, identifying and reducing EH&S risk potential, and promoting the wise and effective use of natural resources.
Placement on the DJSI follows a series of favorable, multi-year environmental recognitions for Con Edison that include separate accolades from public agencies, private financial institutions, as well as a nonprofit environmental group dedicated to carbon emissions reduction.
In two succeeding years, Innovest Strategic Value Advisors gave Con Edison a number one and two 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.)
As part of its commitment to sustainable business practices, Con Edison has achieved a 34% 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, replaced generating equipment with natural-gas-burning combustion turbines, and has implemented cogeneration technologies that reduced greenhouse gas emissions per energy-output unit, among other actions.
Recently, Con Edison 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 global Carbon Disclosure Project (CDP) also placed Con Edison among its top-most U.S. utility rankings (1st and 3rd, respectively) during the last two years for "Climate Governance," citing the company's approach to addressing climate change and its transparent disclosure practices on the issue.
Con Edison also is continuing a number of initiatives to enhance environmental responsibility, including:
Replacing some types of oil-filled cable with solid-state electrical transmission and distribution cables. Reducing methane emissions through enhanced inspections and maintenance at gas facilities and implementing equipment upgrades. Supporting New York's Renewable Portfolio Standard, which aims to increase the state's percentage of renewable energy to 25 percent by 2013, as well as the Regional Greenhouse Gas Initiative, a first step toward controlling emissions that contribute to global warming. Supporting local climate change efforts in New York City and Westchester County.
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.
The Power of Green site, www.coned.com/thepowerofgreen, also provides more than 100 energy-saving tips, news about the company's environmental efforts, and links to information about renewable energy and green power. To learn more about going green, find us on Facebook at Power of Green.
Contact: Media Relations 212-460-4111
SOURCE: Consolidated Edison, Inc.
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