Exelon Corporation (NYSE: EXC) one of the nation’s largest utilities, announed today that it plans to cut greenhouse gas (GHG) emissions by 2020 by more than its total emissions in 2008.
The company unveiled a comprehensive environmental plan detailing a host of initiatives being pursued by the Exelon family of companies to reduce Exelon’s 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."
The plan, called Exelon 2020, sets a goal of reducing, offsetting or displacing more than 15 million metric tons of greenhouse gas emissions 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.
Exelon said it 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.
"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. "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," Rowe noted.
Some of the programs under Exelon 2020 include:
* An initiative to reduce energy consumption across the company’s portfolio of buildings by 25%.
* An effort to engage suppliers on environmental initiatives and seek voluntary disclosures of their GHG emissions and energy consumption.
* The implementation of a $250 million, three-year energy efficiency plan by ComEd and the Illinois Department of Commerce and Economic Opportunity.
* The growth of Exelon’s portfolio of solar, wind, biomass and landfill-gas generation.
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 its greenhouse gas emissions 8% from 2001 levels by the end of 2008 and is on track to exceed that goal, the company said.
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