Citigroup Ranks 16 in EPA's Fortune 500 Green Power Challenge.Company Makes Significant Green Power Purchase NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Demonstrating its ongoing commitment to environmental and social issues globally, Citigroup has been named to the U.S. Environmental Protection Agency's (EPA's) Fortune 500 Green Power Challenge. The EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. released its updated Fortune 500 Green Power Partner Challenge list today, and Citigroup ranked No. 16. This list highlights Fortune 500 EPA Green Power Partners that have completed the largest, annual voluntary purchases through Dec. 31, 2006. Citigroup is purchasing a significant amount of Green-e certified, wind renewable energy certificates Renewable Energy Certificates (RECs), also known as Green tags, Renewable Energy Credits, or Tradable Renewable Certificates (TRCs), are the property rights to the environmental benefits from generating electricity from renewable energy sources. for its U.S. business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , representing more than 36 million kilowatt-hours (kWh) of green power. This is equivalent to avoiding the carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. (CO2) emissions of nearly 5,000 passenger cars per year or the CO2 emissions associated with nearly 2.6 million gallons of gasoline annually.* "We are excited to be recognized as a leader in creating sustainable business A business is sustainable if it has adapted its practices for the use of renewable resources and holds itself accountable for the environmental and human rights impacts of its activities. practices. As the world's largest financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, we believe that we have an obligation to purchase green power and take other measures that will lessen our impact on the environment," said Citigroup Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Chuck Prince. "Green power" includes electricity that is partially or entirely generated from clean resources, such as solar, wind, geothermal, biogas bi·o·gas n. A mixture of methane and carbon dioxide produced by bacterial degradation of organic matter and used as a fuel. biogas Noun gaseous fuel produced by the fermentation of organic waste , biomass and low-impact hydro. It is considered cleaner than conventional sources of electricity and has lower CO2 emissions, a greenhouse gas greenhouse gas n. Any of the atmospheric gases that contribute to the greenhouse effect. greenhouse gas linked to global climate change. The goal of EPA's 13-month Challenge is roughly to double the existing green power purchases among Fortune 500 Green Power Partners in order to exceed 5 billion kWh of green power purchasing annually. "EPA applauds Citigroup's leadership in green power purchasing and its support of EPA's Fortune 500 Green Power Challenge," said Bill Wehrum, EPA's acting assistant administrator for Air and Radiation. "We encourage all of America's Fortune 500 companies to purchase green power and demonstrate that what's good for the environment is also good for business." Citigroup's Commitment to Corporate Sustainability For Citigroup, this initiative is part of a broader effort to be a global leader in sustainability. Citigroup is a founding member of the Equator Principles The Equator Principles is a set of environmental and social benchmarks for managing environmental and social issues in development project finance in the emerging markets. Once adopted by banks and other financial institutions, the Equator Principles commit the adoptees not to , which are voluntary guidelines based on World Bank and International Finance Corporation (IFC (Internet Foundation Classes) A class library from Netscape that provides an application framework and graphical user interface (GUI) routines for Java programmers. IFC was later made part of the Java Foundation Classes (JFC). See JFC, AFC and AWT. See also ICF. ) policies that help banks assess, mitigate, and monitor environmental and social risks related to project finance transactions. Last year, Citigroup pledged to reduce its greenhouse-gas emissions by 10% by 2011 at its more than 14,000 facilities worldwide. To accelerate this reduction, Citigroup joined the U.S. EPA's Climate Leaders Program. This voluntary industry-government partnership identifies environmental leaders in adopting aggressive goals and strategies for curtailing greenhouse gas emissions at manufacturing and other facilities. Citigroup is partnering with an EPA-appointed engineer to enhance its on-going global emissions reduction strategy. Citigroup also has set the goal that its major new office and operations facilities achieve LEED (Leadership in Energy and Environmental Design The Leadership in Energy and Environmental Design (LEED) Green Building Rating System, developed by the U.S. Green Building Council, provides a suite of standards for environmentally sustainable construction. ) Silver certification through the U.S. Green Building Council. About Citigroup Citigroup, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com About the U.S. EPA's Green Power Partnership EPA's Green Power Partnership encourages organizations to purchase green power as a way to reduce the environmental impacts associated with conventional electricity use. The Green Power Partnership currently has hundreds of Partners voluntarily purchasing billions of kilowatt hours of green power annually. Partners include a wide variety of leading organizations such as Fortune 500 companies, small and medium sized businesses, local, state, and federal governments, trade associations, as well as colleges and universities. For a full listing of EPA's Green Power Partners and information about buying green power, visit the Partnership's Web site at http://www.epa.gov/greenpower/ Updated quarterly, the Fortune 500 EPA Green Power Partners list is available at http://www.epa.gov/greenpower/partners/fortune500.htm. For more information about EPA's Fortune 500 Green Power Challenge, visit http://www.epa.gov/greenpower/partners/fortune500.htm * Based on 36,000,000 kWhs. See http://www.usctcgateway.net/tool/ for calculation references. |
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