Tampa Electric achieves CO2 reduction milestone
TAMPA, January 24, 2008
Tampa Electric today announced that it has successfully completed its Chicago Climate Exchange Phase I greenhouse gas reduction commitment of 4 percent below the average of the years 1998-2001.
As a member of the Chicago Climate Exchange through its parent company, TECO Energy, Tampa Electric is recognized by the organization as complying with the most rigorous standards for greenhouse gas emissions available in North America today. The company joined Chicago Climate Exchange in 2004.
In a letter to the company, Chicago Climate Exchange Chairman and CEO Richard Sandor said, “Upon enrolling in Chicago Climate Exchange, Tampa Electric took bold and practical action to help build an international carbon reduction market at a time when leadership in this area was rare.”
Sandor commended the company’s leadership in promoting best practices in greenhouse gas emissions management and corporate sustainability.
President Chuck Black said, “We are pleased with this recognition, which reinforces the hard work of our entire team to dramatically improve Tampa Electric’s environmental profile, and we’re proud of the resulting air quality improvements that benefit our customers and the communities we serve.”
Since it embarked on a 10-year, $1.2 billion environmental improvement plan in 1998, the company has reduced its system’s carbon dioxide emissions by 20 percent, while at the same time achieving reductions in pollutants like sulfur dioxide or SO2 (91 percent), nitrogen oxide or NOx (59 percent; 89 percent by 2010); mercury (74 percent) and particulate matter (75 percent), all compared with 1998 levels.
Few coal-fired plants, including in Florida, have made this level of reductions.
About Chicago Climate Exchange
Chicago Climate Exchange (CCX), launched in 2003, is the world’s first and North America’s only active voluntary, legally binding integrated trading system to reduce emissions of all six major greenhouse gases (GHGs), with offset projects worldwide.
CCX Members are leaders in greenhouse gas (GHG) management and represent all sectors of the global economy, as well as public sector innovators. Reductions achieved through CCX are the only reductions made in North America through a legally binding compliance regime, providing independent, third party verification by the Financial Industry Regulatory Authority (FINRA, formerly NASD). The founder, Chairman and CEO of CCX is economist and financial innovator Dr. Richard L. Sandor, who was named a Hero of the Planet by Time Magazine in 2002 for founding CCX, and in 2007 as the "father of carbon trading."
CCX emitting Members make a voluntary but legally binding commitment to meet annual GHG emission reduction targets. Those who reduce below the targets have surplus allowances to sell or bank; those who emit above the targets comply by purchasing CCX Carbon Financial Instrument® (CFI™) contracts.
About Tampa Electric
Tampa Electric is the principal subsidiary of TECO Energy, Inc. (NYSE: TE), an integrated energy-related holding company with regulated utility businesses, complemented by unregulated businesses. In addition to the regulated operations of Tampa Electric and Peoples Gas System). Other subsidiaries are engaged in coal production, and electric generation and distribution and unregulated energy related businesses in Guatemala.