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FPL Group Ranked #1 for Environmental Performance by Innovest

For the third consecutive time, FPL Group, Inc. (NYSE:FPL) is ranked first among 26 U.S. electric utilities in the latest Innovest Strategic Value Advisors report that compares environmental performance within industries. Innovest is an internationally recognized independent investment research firm specializing in environmental finance and investment opportunities. The report analyzes the performance of 26 utilities in areas including corporate governance, environmental risk and management, environmental business performance, carbon profile, environmental strategy and air emissions improvement. The report says, "FPL has below average risk, above average environmental management capacity, and above average engagement in environmentally-favorable businesses." Since its inception, Innovest's reports have demonstrated that environmental leaders, as a group, consistently outperform in the stock market by three to 30 percentage points a year. "As environmental issues are having a growing financial impact on firms, we project that FPL will most likely outperform the sector going forward," said Carla Tabossi, senior analyst at Innovest. In a separate report issued by Innovest, the Intangible Value Assessment report, FPL Group ranked number two of 26 electric companies. This study ranks companies based on drivers related to sustainability, which include corporate labor relations, emerging market strategy, products and services, and overall corporate governance. FPL Group […]

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China Plans to Pass the U.S. on Fuel Economy

In the past few months Chinese officials have announced plans to impose stringent, new fuel-economy standards on cars and trucks produced in their country. The standards are expected to be tougher than those in the United States. "It's a big deal when a developing country comes along and institutes regulations that go beyond those of a developed country like the United States," said Amanda Sauer, an economist at the World Resources Institute (WRI). Fuel economy standards are not the only example of China's recent efforts to tighten up environmental regulations. In the past few years the country adopted tough pollution restrictions for vehicles. These standards are on par with European regulations from the 1990s, and officials plan to catch up with European standards by the end of the next decade. In addition, China recently phased out leaded gasoline in less than three years. But transportation experts point out that China's decision to institute new environmental regulations is not necessarily driven by an overwhelming concern for the environment. "This is about national security — Chinese officials want to curb the country's growing dependence on oil imports from the Middle East," said Dr. Lee Schipper, director of research at WRI's EMBARQ center […]

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Energy Bill Gambit Fails, but Supporters Expect Eventual Success

The latest Senate gambit to pass a major piece of the energy bill failed yesterday when the Senate fell 11 votes short on a cloture motion that would have allowed final debate and a vote on passage of the corporate tax bill, to which the $13 billion energy tax package has been attached. The 49-48 vote was on the question of limiting debate on S. 1637, the corporate tax bill. It was the first energy-related vote since the Senate rejected the energy bill in its H.R. 6 incarnation last November. But it will not be the last time the energy bill comes up for a vote. The combined corporate tax/energy tax bill is likely to come up for another cloture vote after the Senate returns from its recess on April 20, by which time negotiators are expected to have reached some agreement on how many Democratic amendments to include in the final debate. Indeed, Senate Energy and Natural Resources Committee Chairman Pete Domenici (R-N.M.) said yesterday he fully expects there to be as many as two more cloture votes on the matter to get the bill past the Senate.

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