Press Release: PNM Resources Joins Pew Center's Business Environmental Leadership Council

Press Release
July 18, 2007

Pew Center Contact: Katie Mandes, (703) 516-4146
PNM Contact: Don Brown, (505) 241-2849

PNM RESOURCES JOINS PEW CENTER'S BUSINESS ENVIRONMENTAL LEADERSHIP COUNCIL

New Mexico-Based Energy Company Supports Action on Climate Policy

 


WASHINGTON, D.C. - The Pew Center on Global Climate Change announced today that PNM Resources has joined the Pew Center's Business Environmental Leadership Council (BELC) and its efforts to address global climate change.

PNM Resources, an energy company with significant operations in New Mexico and Texas and a supplier of energy throughout the Southwest, has set environmental sustainability goals that include reducing carbon dioxide emissions by 7 percent below 2002 levels by 2009. The company also aims to cut nitrogen oxide, sulfur dioxide, and particulate matter emissions as well as reduce its use of fresh water for power production during the same time period. In addition, PNM Resources is a national leader in providing and promoting renewable energy. The PNM Sky BlueTM wind energy program ranks eighth in the nation in customer participation among investor-owned utilities.

As a founding member of the U.S. Climate Action Partnership (USCAP) along with the Pew Center, PNM Resources is playing an active role in formulating comprehensive policy solutions to address climate change. USCAP is an unprecedented collaboration of 25 major corporations and 6 leading nongovernmental organizations that is calling on Congress to enact legislation including a cap-and-trade system at the earliest date possible that slows, stops, and reverses the growth of greenhouse gases.

"Because climate change is a problem of such immense scale, successfully addressing it will require an extraordinary degree of collaboration and cooperation across industries, political parties, and international borders," said Jeff Sterba, Chairman, President, and CEO of PNM Resources and current chairman of the Edison Electric Institute. "This effort by the Pew Center puts that concept into action, and we are proud to be counted as a member."

"Leadership from major energy companies is critical to effectively deal with climate change," said Eileen Claussen, President of the Pew Center on Global Climate Change. "PNM Resources has a clear understanding of the growing risks from climate change, as well as the economic opportunities that new, clean technologies present. I welcome their expertise as we work to develop and enact sound climate policy in this country and globally."

Based in Albuquerque, N.M., PNM Resources serves 835,000 electricity consumers in New Mexico and Texas and 492,000 natural gas customers in New Mexico. Its subsidiaries are PNM, Texas-New Mexico Power, First Choice Power and Avistar. PNM Resources' stock (ticker symbol: PNM) is traded primarily on the New York Stock Exchange. For more information on PNM Resources visit its web site at www.pnmresources.com.

The BELC was established by the Pew Center in 1998, and the Center is a leader in helping these and other major corporations integrate climate change into their business strategies. 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. 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 BELC is the largest U.S.-based association of corporations focused on addressing the challenges of climate change, with 44 companies representing over 3.8 million employees and a combined market value of $2.8 trillion.

The other members of the BELC are: ABB; Air Products; Alcan; Alcoa Inc.; American Electric Power; Bank of America; Baxter International Inc.; The Boeing Company; BP; California Portland Cement; CH2M HILL; Citi; Cummins Inc.; Deutsche Telekom; DTE Energy; Duke Energy; DuPont; Entergy; Exelon; GE; Georgia-Pacific; Hewlett-Packard Company; Holcim (US) Inc.; IBM; Intel; Interface Inc.; John Hancock Financial Services; Lockheed Martin; Marsh, Inc.; Novartis; Ontario Power Generation; PG&E Corporation; Rio Tinto; Rohm and Haas; Royal Dutch/Shell; SC Johnson; Sunoco; Toyota; TransAlta; United Technologies; Weyerhaeuser; Whirlpool Corporation; 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.