New York -- Con Edison is the “greenest” utility company in the United States and the 16th greenest U.S. company overall, according to Newsweek magazine’s 2014 Green Rankings.
The rankings, which can be found at http://goo.gl/zQ5fvm, were based on the magazine’s ratings of companies’ environmental impact, resource use, and management and disclosure practices. Efficiency in handling energy, carbon, water, and waste as well as whether companies had management-themed sustainability committees were among the areas examined that helped constitute company ranking.
Newsweek examined market capitalization data on the 500 largest companies globally and the 500 largest in the U.S. Their study was conducted in partnership with Corporate Knights Capital, an investment advisory and research firm in Toronto with experience quantifying corporate sustainability, as well as with sustainability experts from academic and accounting communities and nongovernmental organizations.
“We pursue these practices for the communities we serve, our customers, and our employees,” said Andrea Schmitz, Con Edison vice president of Environment, Health and Safety. “This green ranking is evidence of our commitment to sustainability and that the financial community is paying attention, incorporating sustainability information into its forward investment strategies.”
Newsweek, citing Corporate Knights Capital, stated that $100 equally spread across U.S. companies that performed better than average on greenhouse gas emissions would have returned $220 over five years, versus only a $160 return from an investment in the S&P 500. The magazine also mentioned that investing in the greener companies also led to 93 percent fewer emissions than a similar across-the-board investment in the S&P 500.
Con Edison’s environment and sustainability efforts include its energy efficiency programs. The company encourages customers to use less – not more - energy, and provides rebates for customers to use energy-efficient equipment. More information on Con Edison’s energy efficiency programs can be found at www.coned.com/greenteam, or by calling the “Green Team” at 1-877-870-6118.
Con Edison also received accolades earlier this year when it was named to Corporate Responsibility magazine’s list of the Top 100 Corporate Citizens for 2014. The magazine used a weighted average score on the basis of ratings on environmental policy, climate change risk, corporate governance, philanthropy, and several other areas.
Consolidated Edison, Inc. [NYSE: ED] is one of the nation's largest investor-owned energy companies, with approximately $12 billion in annual revenues and $41 billion in assets. The company provides a wide range of energy-related products and services to its customers through its two regulated utility subsidiaries and its three competitive energy businesses. For additional financial, operations and customer service information, visit Consolidated Edison, Inc.’s website at www.conedison.com.