ARLINGTON, VA. March 25, 2011
On March 16th, American Carbon Registry (ACR), a nonprofit enterprise of Winrock International, hosted its annual dinner in Washington DC. ACR presented awards to three outstanding ACR member companies. As has been the tradition since ACR joined Winrock, awards are based on the ACR guiding principles of excellence, innovation and quality.
Xcel Energy was honored with the ACR Utility Excellence award for its outstanding achievements in reducing its emissions. Xcel Energy has made a public commitment to reducing CO2 emissions 20% below 2005 levels by 2020 and has already reduced 11%, approximately 26 million tons, cumulatively since 2003. The company has been the nation’s No. 1 one wind energy provider for the past six years, is ranked fifth among U.S. utilities for solar capacity, and boasts the largest U.S. voluntary green energy program by customer participation. In addition to implementing an innovative Colorado carbon offset pilot program, Xcel Energy is one of only ten S&P 500 companies listed in the Carbon Disclosure Project’s leadership indexes for progress in reducing greenhouse gas emissions and excellence in reporting.
“Our mission is to meet the needs of our customers and grow our business through environmental leadership,” said Dick Kelly, chairman and CEO of Xcel Energy. “Every day, we work hard to balance customer demands for reliable, affordable energy with our goal to create a clean energy future, and we greatly appreciate the ACR’s recognition.”
Finite Carbon Corporation was presented with the ACR Innovation award for the development of the world’s first forest carbon risk mitigation product, the Carbon Reduction Guarantee. The product is offered exclusively for U.S. and international forest carbon projects registered on ACR. The guarantee allows companies to fully mitigate unforeseeable environmental risks or “reversals” up-front at a pre-determined cost. As a leading U.S. forest carbon project developer with over two million tons under contract, Finite Carbon identified the need for such a product to remove uncertainty, a key entry barrier to carbon market participation for most landowners.
“We selected American Carbon Registry as a partner for our guarantee product because of their deep domain expertise in forestry and willingness to explore new ideas,” said Scott Nissenbaum, President of Finite Carbon. “We’re very pleased to receive the ACR award and excited that we will soon announce registration of the first project to utilize the Carbon Reduction Guarantee.”
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