National Grid Upgrades Greenhouse Gas Cut Target To 80% By 2050
Apr 18, 2008 - Dow Jones
U.K.-based gas and electricity network operator National Grid PLC (NGG) said Friday it will increase its greenhouse gas emissions reduction target to 80% by 2050, from 60% previously.
The company said it will begin allocating carbon budgets across its business from April, 2009, to help achieve the target. Annual and five-year emissions targets, measured in tons of carbon dioxide equivalent, will be established for each business unit.
"We have already reduced our greenhouse gas emissions by 35%, but we need to do more. Adopting carbon budgets and integrating them into our business performance process will encourage our employees to identify new ways to achieve the challenging 80% reduction target," said National Grid Chief Executive Steve Holliday.
One of the actions undertaken by National Grid to cut emissions of greenhouse gases, such as methane or carbon dioxide, is the replacement of old gas distribution infrastructure in the U.S. and the U.K. with more efficient equipment.
Company Web site: http://www.nationalgrid.com
-By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@ dowjones.com