Pepco Holdings, Inc. (NYSE: POM) has been named one of the top firms in the Carbon Disclosure Project’s annual carbon performance and disclosure ratings for the S&P 500. The index places Pepco Holdings (PHI) first among S&P 500 utility companies for carbon management and performance. The rankings were announced September 12 in New York by the Carbon Disclosure Project (CDP). The Carbon Disclosure Project (CDP) is an independent not-for-profit organization holding the largest database of primary corporate climate change and water information in the world.
“The results of the CDP demonstrate that PHI has made significant strides in identifying and managing our company’s carbon footprint. Clearly, we are achieving our carbon reduction goals and providing our customers the tools and knowledge needed to manage their own carbon footprint,” said Joseph M. Rigby, PHI’s Chairman, President and CEO. “We are proud of this recognition, and we will continue to hold ourselves accountable for environmental sustainability moving forward.”
Beginning in 2011, Pepco Holdings sharpened the focus on its carbon footprint. The company conducted a thorough and complete emissions inventory using tools developed by the World Resources Institute and the World Business Council for Sustainable Development to identify sources of greenhouse gas emissions from its operations and to track progress in reducing emissions over time. As a result, Pepco Holdings shaved its total carbon emissions by 12 percent between 2010 and 2011, to about 1.8 million metric tons, while direct emissions from the company's operations dropped 39 percent, to 402,000 metric tons.
The company also factors specific risks into its long-range planning, such as extreme weather events that can interrupt power supply and changes in consumer behavior affecting demand.“At PHI, we conduct our power delivery business with care and respect for environment. The demonstration of our environmental commitment requires not only specific action to manage our carbon footprint but full transparency when it comes to the environmental impact of building, operating and maintaining our system,” said Michael Maxwell, PHI Vice President, Asset Management.