For Immediate Release: May 24, 2005
Contact: Katie Mandes
EXELON CORPORATION JOINS PEW CENTER ON GLOBAL CLIMATE CHANGE
Leading Utility Establishes Target to Reduce Emissions
Washington, D.C.-The Pew Center on Global Climate Change announced today that Exelon Corporation has joined the Pew Center's Business Environmental Leadership Council (BELC) and their efforts to address global climate change.
Exelon Corporation, one of the nation's largest electric utilities and a Fortune 500 company, has committed to reduce its greenhouse gas (GHG) emissions by eight percent from 2001 levels by the end of 2008. Exelon has also committed to work with, and encourage, its suppliers to reduce their GHG emissions. The company will incorporate recognition of GHG emissions and their potential cost into its business analyses as a means to promote internal investment in climate-reducing activities. Exelon recently made this pledge under the U.S. Environmental Protection Agency's Climate Leaders program. The Pew Center assisted Exelon in developing its goal, strategy and program.
"Exelon is pleased to join the Pew Center and the other BELC members in addressing this challenging issue," said John W. Rowe, chairman, president and CEO, Exelon. "We believe it is incumbent upon anyone concerned about the consequences of global climate change to take action to begin the transition to a carbon constrained future."
Exelon Corporation is a leader in the electric power industry, with 2004 revenues exceeding $14 billion, about 17,500 employees, over $42 billion in assets, and approximately 5.2 million customers in Illinois and Pennsylvania. In December 2004, Exelon announced plans to merge with New Jersey-based Public Service Enterprise Group. FORTUNE magazine named Exelon one of America's "Most Admired Companies" in its 2005 annual report card on corporate reputation. Forbes magazine named Exelon one of the best-managed utility companies in December 2004.
The Business Environmental Leadership Council was established by the Pew Center in 1998. The BELC is comprised of mainly Fortune 500 companies representing a diverse group of industries including energy, automobiles, manufacturing, chemicals, pharmaceuticals, metals, mining, paper and forest products, consumer goods and appliances, telecommunications, and high technology. The members share the belief that enough is known about the science of climate change to begin taking reasonable steps now to protect the climate. Individually and collectively, these companies are demonstrating that it is possible to take action to address climate change while maintaining competitive excellence, growth, and profitability. The companies together generate annual revenues in excess of $600 billion and employ more than 1.7 million people.
"Exelon Corporation is the latest company to acknowledge publicly not only the certainty of the science, but also the necessity for action now. We look forward to working with them on both market-based solutions to climate change and the formulation of sound public policy here in the United States and around the world," said Pew Center president Eileen Claussen.
The other members of the BELC are: ABB; Air Products and Chemicals; Alcoa; American Electric Power; Baxter International; Boeing; BP; California Portland Cement Co.; CH2M HILL; Cinergy Corp.; Cummins Inc.; Deutsche Telekom; DTE Energy; DuPont; Entergy; Georgia-Pacific; Hewlett-Packard Company; Holcim; IBM; Intel; Interface Inc.; John Hancock Financial Services; Lockheed Martin; Maytag; Novartis; Ontario Power Generation; PG&E Corporation; Rio Tinto; Rohm and Haas; Royal Dutch/Shell; SC Johnson; Sunoco; Toyota; TransAlta; United Technologies; Weyerhaeuser; Whirlpool; and Wisconsin Energy Corporation.
For more information about global climate change and the activities of the Pew Center and the BELC, visit www.c2es.org.
The Pew Center was established in May 1998 by The Pew Charitable Trusts, one of the United States' largest philanthropies and an influential voice in efforts to improve the quality of the environment. The Pew Center is an independent, nonprofit, and non-partisan organization dedicated to providing credible information, straight answers, and innovative solutions in the effort to address global climate change. The Pew Center is led by Eileen Claussen, the former U.S. Assistant Secretary of State for Oceans and International Environmental and Scientific Affairs.
Exelon Corporation is one of the nation's largest electric utilities with approximately 5.2 million customers and more than $14 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 5.2 million customers in northern Illinois and Pennsylvania and gas to more than 460,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.