April 12, 2004
FPL Group ranked #1 for environmental performance in Innovest report
JUNO BEACH, Fla. -- For the third consecutive time,
FPL Group, Inc. (NYSE: FPL) has received the number one ranking among
utilities in the United States in the latest Innovest Strategic Value
Advisors report that compares environmental performance.
Innovest is an internationally recognized independent investment
research firm specializing in environmental finance and investment
opportunities. The report analyzes the performance of 26 utilities
in areas including corporate governance, environmental risk and
management, environmental business performance, carbon profile, environmental
strategy and air emissions improvement.
The report naming FPL as number one said, “FPL has below average
risk, above average environmental management capacity, and above
average engagement in environmentally-favorable businesses.”
Lew Hay, FPL Group chairman and CEO, said, "We're gratified
that Innovest has again recognized our commitment to excellence.
FPL Group utilizes a concept known as sustainability, which is a
long-term approach to doing business in a responsible, accountable
manner. Every day, our 11,000-plus employees strive to reach a balance
of economic accountability, environmental stewardship and social
Innovest found that environmental leaders, as a group, consistently
outperform in the stock market by three to 30 percentage points a
year. “As environmental issues are having a growing financial
impact on firms, we project that FPL will most likely outperform
the sector going forward,” said Carla Tabossi, senior analyst
In a separate report issued by Innovest, the Intangible Value Assessment
report, FPL Group ranked number two of 26 electric companies. This
study ranks companies based on drivers related to sustainability,
which include corporate labor relations, emerging market strategy,
products and services, and overall corporate governance.
FPL Group companies were also recently recognized by other organizations
for their environmental practices.
- In 2003, FPL Group was presented with the prestigious Edison
Award, the electric power industry’s highest honor.
- Platts, the energy information and market services unit of The
McGraw-Hill Companies, presented FPL Group with a 2003 Global Energy
Award as “Renewable
Company of the Year” for the company’s clean energy
- Earlier this year, the National Arbor Day Foundation named Florida
Power & Light Company a Tree Line USA utility for the second
year. The Tree Line USA program is sponsored by the Arbor Day
Foundation in cooperation with the National Association of State
recognizes utilities that meet three requirements: a program
of quality tree care, annual worker training in quality tree
and a tree planting and public education program.
FPL Group has many successful environmental programs:
- FPL Group’s emissions rates are among the lowest of the
100 largest electric generators in the nation. Within the past
FPL Group has reduced its CO2 emissions rate by 12 percent. It
has reduced other emissions as well, including SO2 rate by 28 percent
and NOx rate by 41 percent.
- FPL Energy is the world’s leading producer of wind-generated
electricity. Approximately 25 percent of FPL Energy’s generating
capacity comes from wind power, representing more than 2,700
net megawatts. FPL Energy also operates the world's largest solar
and is a leading producer of hydroelectric power.
- This year, FPL answered a challenge from the World Wildlife Fund
(WWF) to become one of the first U.S. power companies to support
WWF’s PowerSwitch! Program, promoting a mandatory cap on
heat-trapping carbon dioxide emissions and committed to a 15
in electric generation efficiency. FPL operates programs throughout
its service territory to protect the environment. They range
from nurturing the endangered American crocodile in South Florida,
managing river flows in Maine in order to meet the habitat needs
of nesting loons and numerous fish species.
- FPL leads the nation in energy management and conservation programs.
Participation in programs by more than 1.5 million customers
has helped reduce demand over the past two decades, enough to avoid
10 power plants. The company introduced a Sunshine Energy program
this year to support the generation of electricity from renewable
sources such as solar, wind, and hydro.
FPL Group, with annual revenues of more than $9 billion, is nationally
known as a high quality, efficient, and customer-driven organization
focused on energy-related products and services. With a growing
presence in 26 states, it is widely recognized as one of the country's
power companies. Its principal subsidiary, Florida Power & Light
Company, serves more than 4.2 million customer accounts in Florida.
FPL Energy, LLC, an FPL Group energy-generating subsidiary, is a
leader in producing electricity from clean and renewable fuels. Additional
information is available on the Internet at www.FPLGroup.com, www.FPL.com and www.FPLEnergy.com.