JUNO BEACH, Fla. -- For the third consecutive time, FPL Group, Inc. (NYSE: FPL) has received the number one ranking among 26 electric utilities in the United States in the latest Innovest Strategic Value Advisors report that compares environmental performance.
Innovest is an internationally recognized independent investment research firm specializing in environmental finance and investment opportunities. The report analyzes the performance of 26 utilities in areas including corporate governance, environmental risk and management, environmental business performance, carbon profile, environmental strategy and air emissions improvement.
The report naming FPL as number one said, “FPL has below average risk, above average environmental management capacity, and above average engagement in environmentally-favorable businesses.”
Lew Hay, FPL Group chairman and CEO, said, "We're gratified that Innovest has again recognized our commitment to excellence. FPL Group utilizes a concept known as sustainability, which is a long-term approach to doing business in a responsible, accountable manner. Every day, our 11,000-plus employees strive to reach a balance of economic accountability, environmental stewardship and social responsibility.”
Innovest found that environmental leaders, as a group, consistently outperform in the stock market by three to 30 percentage points a year. “As environmental issues are having a growing financial impact on firms, we project that FPL will most likely outperform the sector going forward,” said Carla Tabossi, senior analyst at Innovest.
In a separate report issued by Innovest, the Intangible Value Assessment report, FPL Group ranked number two of 26 electric companies. This study ranks companies based on drivers related to sustainability, which include corporate labor relations, emerging market strategy, products and services, and overall corporate governance.
FPL Group companies were also recently recognized by other organizations for their environmental practices.
FPL Group has many successful environmental programs:
FPL Group, with annual revenues of more than $9 billion, is nationally known as a high quality, efficient, and customer-driven organization focused on energy-related products and services. With a growing presence in 26 states, it is widely recognized as one of the country's premier power companies. Its principal subsidiary, Florida Power & Light Company, serves more than 4.2 million customer accounts in Florida. FPL Energy, LLC, an FPL Group energy-generating subsidiary, is a leader in producing electricity from clean and renewable fuels. Additional information is available on the Internet at www.FPLGroup.com, www.FPL.com andwww.FPLEnergy.com.