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The °Climate Group Announces Four New Major Corporate Members

Date
19 December 2007

The °Climate Group is pleased to announce that four new companies have joined our leadership coalition: Goldman Sachs, a leading global investment banking, securities and investment management firm; Dow, a leader in science and technology; Florida Power & Light Group, Inc., the leading U.S. producer of wind and solar power; and financial news and information services provider Bloomberg L.P. The addition of these four major companies increases the °Climate Group corporate alliance from 40 to 44.

The °Climate Group will work with these new partners to accelerate international action on climate change, with a focus on practical solutions - developing expertise on how business can lead the way to a low-carbon economy while boosting profitability and competitiveness.

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  •  Goldman Sachs takes seriously its responsibility for environmental stewardship and believes that as a leading global financial institution it should play a constructive role in helping to address the challenges facing the environment. The Goldman Sachs Environmental Policy Framework, established in November 2005, embodies the philosophy that markets can play an important role in addressing today's environmental challenge. Goldman Sachs has made considerable progress in meeting its environmental objectives, including investing over US$2 billion in renewable energy, a doubling of its original 2005 goal. Through its Center for Environmental Markets, it has also partnered on a number of different initiatives to further market-based solutions to address environmental issues.
  • The Dow Chemical Company is working aggressively to devise global solutions to the issue of climate change, leveraging its expertise in chemistry and innovation. Dow has committed to halt the growth of its absolute greenhouse gas emissions by 2025, and to secure at least 50 per cent of its energy from non-carbon emitting sources by 2050. The energy mix will include renewables, alternatives and carbon sequestration technologies. "We believe that providing humanity with a sustainable energy supply while addressing climate change is one of the most urgent environmental issues the world faces," said David E. Kepler, Dow senior vice president, chief sustainability officer and chief information officer, shared services. "We look forward to working with The °Climate Group to develop bold actions that will address these issues while at the same time enabling economic growth and stability."
  • One of the country's largest providers of electric energy, FPL Group and its subsidiaries, FPL Energy and Florida Power & Light Company (FPL), supply electricity to more than 8.6 million people in Florida. FPL Group is a national leader in energy conservation and efficiency and is one of the country's cleanest utilities, using natural gas and nuclear power to generate 70 percent of its electricity. "We've understood the importance of clean and renewable energy for years," said Lewis Hay, III, FPL Group's chairman and CEO. "This year alone we've announced investments of more than US$22 billion in renewable energy and other programs aimed at reducing carbon dioxide emissions. We're proud to join The °Climate Group, an organization which, like ours, is working to make a better and sustainable world for future generations."
  • Bloomberg L. P. recognizes that its business has global environmental, social and economic implications and is committed to reducing consumption, buying renewable products and services, and offsetting remaining carbon emissions where and when it makes sense. As part of this process, Bloomberg's goal is to help set standards, promote clean technologies and be a leader in the migration to a low-carbon economy.

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"These four new additions to the long list of major °Climate Group partner companies are an excellent example of how businesses in different sectors can contribute to reducing greenhouse gas emissions," said Steve Howard, CEO of The °Climate Group.

"There is no single solution to the problem of global warming: Collective action is what will lead us towards a low-carbon economy. Our member companies have also found that reducing consumption boosts profitability and competitiveness."

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For further information please contact:
Neal McGrath
Communications Director, North America
Direct: +1 (212) 448 8402
nmcgrath@theclimategroup.org

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