Nation’s largest electric and gas
utility outlines roadmap to reduce, displace or offset 15 million metric
tons of greenhouse gas emissions annually by 2020 –
the equivalent of taking 3 million cars off the road
CHICAGO–(EMWNews)–Exelon Corporation today unveiled a comprehensive environmental plan
that sets the standard for environmental action by a major U.S. energy
utility. Called Exelon 2020: A Low-Carbon Roadmap, the plan
details an enterprise-wide approach and host of initiatives being
pursued by the Exelon family of companies to reduce Exelon’s
greenhouse gas (GHG) emissions and those of its customers, communities,
suppliers and markets.
“The science is overwhelming –
climate change is happening now and human activity is the primary cause,”
said John W. Rowe, Exelon chairman, president and CEO. “As
an early member of the U.S. EPA Climate Leaders Program, Exelon has
already embraced a low-carbon strategy. Now, under Exelon 2020, we are
committing to a much broader, deeper and sustained effort that will
drive our business activities going forward.”
Exelon 2020 sets a goal of reducing, offsetting or displacing more than
15 million metric tons of greenhouse gas emissions (in carbon
dioxide-equivalent terms) per year by 2020. This is more than the company’s
current annual carbon footprint and is equivalent to taking nearly 3
million cars off American roads and highways.
Through Exelon 2020, Exelon is pursuing three broad strategies:
Appropriate public policies are crucial to the success of Exelon 2020.
The Exelon companies will continue to advocate for effective federal
climate change legislation, workable competitive wholesale markets,
federal loan guarantees for new nuclear capacity development, stricter
energy efficiency standards, workable renewable resource mandates, R&D
funding for renewables and standard practices for offsets.
“Without sound, substantial, appropriate and
enabling public policy at the federal, regional and state levels, our
industry and our society will not be able to address the climate change
challenge as quickly, effectively and economically as is required,”
A sampling of programs under Exelon 2020 includes:
The American utility industry accounts for about 40 percent of all
greenhouse gas emissions in the U.S. Exelon was one of the first
companies in the utility sector to publicly recognize the threat posed
by global warming and is a member of the U.S. EPA’s
Climate Leaders Program. In 2005, the company made a voluntary
commitment under the Climate Leaders Program to reduce our greenhouse
gas emissions 8 percent from 2001 levels by the end of 2008 and is on
track to exceed that goal. Exelon’s
environmental performance has secured its place on the Dow Jones
Sustainability North America Index since 2006 and Carbon Disclosure
Project Climate Disclosure Leadership Index since 2005. In 2007, Exelon
was the top-ranked utility in the Leadership Index.
Exelon 2020: A Low Carbon Roadmap is available at www.exeloncorp.com.
Exelon Corporation is one of the nation’s
largest electric utilities with nearly $19 billion in annual revenues.
The company has one of the industry’s
largest portfolios of electricity generation capacity, with a nationwide
reach and strong positions in the Midwest and Mid-Atlantic. Exelon
distributes electricity to approximately 5.4 million customers in
northern Illinois and Pennsylvania and natural gas to 480,000 customers
in the Philadelphia area. Exelon is headquartered in Chicago and
trades on the NYSE under the ticker EXC.
This news release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, that
are subject to risks and uncertainties. The factors that could cause
actual results to differ materially from these forward-looking
statements include those discussed herein as well as those discussed in
(1) Exelon’s 2007 Annual Report on Form 10-K in (a) ITEM 1A. Risk
Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial
Condition and Results of Operations and (c) ITEM 8. Financial Statements
and Supplementary Data: Note 19; (2) Exelon’s First Quarter 2008
Quarterly Report on Form 10-Q (to be filed on April 24, 2008) in (a)
Part II, Other Information, ITEM 1A. Risk Factors and (b) Part I,
Financial Information, ITEM 1. Financial Statements: Note 13; and (3)
other factors discussed in filings with the Securities and Exchange
Commission by Exelon Corporation, Exelon Generation Company, LLC,
Commonwealth Edison Company, and PECO Energy Company (Companies).
Readers are cautioned not to place undue reliance on these
forward-looking statements, which apply only as of the date of this
presentation. None of the Companies undertakes any obligation to
publicly release any revision to its forward-looking statements to
reflect events or circumstances after the date of this news release.
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