First U.S. Electric Company Accepted to Partnership for Climate Action
Washington, D.C. and New Orleans, La. (May 3, 2001) Entergy Corporation, one of
the nation's leading electricity providers, today pledged it will voluntarily take actions
to stabilize its domestic greenhouse gas emissions at year 2000 levels through 2005, and
develop a long-term target which would include additional reductions to help combat
Entergy (NYSE:ETR) is the first U.S. electric company to publicly announce such a
greenhouse gas emissions target. To implement this target, the New Orleans-based company
will partner with Environmental Defense, a national advocacy group, to develop a program
to reduce carbon dioxide emissions from Entergys plants in the United States that
generate electricity through burning fossil fuels.
Entergy also announced it has become the first U.S. electric company accepted for
membership in the Partnership for Climate Action (PCA), a collaboration of international
business and environmental leaders dedicated to climate protection.
"The process of intergovernmental debate and negotiation on the terms and
conditions to assure economic parity around the world takes time that we may not
have," said J. Wayne Leonard, Entergys
chief executive officer. "It is incumbent upon every individual and business to
take voluntary initiatives to limit greenhouse gas emissions and reduce the risks we face
today. As businesses, we know the right answer without government action to force us to
act more responsibly. Entergys program will demonstrate that companies can do the
right thing while remaining competitive and profitable."
"We appreciate, in this period of major uncertainty in the electric generation
sector, how important it is for a leading company like Entergy to step up and guarantee
that it will reduce its emissions even while it continues to grow its business," said
Environmental Defense executive director Fred Krupp. "As we have learned from past
experience, it is possible to cut emissions and still provide products to customers and
profits to shareholders. Entergys leadership in this arena should encourage other
electric utilities to take similar steps to reduce pollution."
To meet its greenhouse gas reduction target, Entergy will undertake a combination of
internal actions and investments in emissions reduction projects. Entergys nuclear
assets are not included in this target. Entergy has established a $25 million
Environmental Initiatives Fund to help accomplish that goal through 2005. Entergy will
work with Environmental Defense to design the programs that implement the target.
"Entergys first priority is to reduce greenhouse gas pollution within our
own operations. We expect to achieve at least 80 percent of the reduction in this
way," said Leonard. "Entergy also believes that extending our reach outside our
own walls for ways to reduce greenhouse gas emissions will stimulate innovation and create
incentives for finding new ways to aggressively cut pollution in the most practical,
cost-effective manner possible."
Entergy will also work within the PCA both to share its experience and to learn from
the other members. As indicated in its policy statement, PCA members agree to limit and
reduce greenhouse gas emissions, take direct actions, employ market-based mechanisms and
share their learning. The organization, launched in October 2000, currently includes
Environmental Defense, Entergy and seven other members: The Canadian aluminum company
Alcan, BP, DuPont, the French aluminum company Pechiney, the Canadian electric company
Ontario Power Generation, Shell International and Suncor Energy.
Entergy Corporation is a global energy company with power production, distribution
operations, and related diversified services. It owns, manages, or invests in power plants
generating nearly 30,000 megawatts of electricity domestically and internationally.
Entergy serves as the electric utility for some 2.6 million industrial, commercial, and
residential customers in parts of Arkansas, Louisiana, Mississippi, and Texas. Through
Entergy-Koch, L.P., it is also a leading provider of wholesale energy marketing and
Environmental Defense, a leading national nonprofit organization based in New York,
represents more than 300,000 members. Since 1967 it has linked science, economics, and law
to create innovative, equitable, and cost-effective solutions to the most urgent