Con Edison Media Relations
CARBON DISCLOSURE PROJECT (CDP) RANKS CON EDISON TOP UTILITY ADDRESSING CORPORATE CARBON EMISSIONS
NEW YORK – The global Carbon Disclosure Project (CDP) recently ranked Consolidated Edison, Inc. (Con Edison) as the top-ranked U. S. utility for “Climate Governance,” for the company’s approach to addressing climate change and its transparent disclosure practices on the issue.
The CDP report is a summary of 282 responses from S&P500 corporations on climate change. The report assesses U.S. firms’ greenhouse gas emission trends and management programs, and the degree of disclosure to investors on risks and opportunities presented by the issue. The report can be accessed at www.cdproject.net/cdp5reports.asp.
CDP’s report is conducted on behalf of 315 institutional investors with assets of $41 trillion, and is designed to deepen collective understanding of the risks and responsibilities associated with climate change.
The study for CDP was conducted by RiskMetrics Group, which created a 14-point Climate Governance Index to evaluate corporate climate change activities in five main governance areas: board oversight, management execution, public disclosure, credible systems for emissions accounting, and strategic planning, with targets to produce and control emissions.
"Our assessments put particular emphasis on Con Edison's leading status among utilities based on the company's targets and the comprehensive way the company is approaching the problem," said Doug Cogan, director of research for RiskMetrics Group. "The company's amount of disclosure, the target, and the strategic management execution plan to match is among the most proactive reviewed.”
“Con Edison acknowledges that climate change is a critically important and challenging issue that needs to be addressed globally across all sectors of the economy,” said Con Edison Chairman and CEO Kevin Burke. “It should be an important priority for every country, company, and individual.”
Con Edison has built an environmental, health, and safety system culture that extends into every organization, assigning a critical role to every employee. Over the past year, Innovest accorded Con Edison the number one ranking in North America and its second ranking internationally for multi-utility environmental and social performance. Con Edison also received the Financial Times/Citi Private Bank Environmental Award for the greatest improvement in carbon efficiency by a large corporation in the Americas (for reducing greenhouse gas emissions by 17 percent).
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy companies, with approximately $12 billion in annual revenues and $27 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.
# # #