Date: November 26, 2007
Source: Casella Waste Systems, Inc.
Casella Waste Systems, Inc. Assumes Solid Waste Industry Leadership Role With EPA Approval for Greenhouse Gas Emissions Reduction Target
Casella Waste Systems, Inc. (NASDAQ: CWST), the only solid waste and recycling services company in the nation who is a member of Environmental Protection Agency's (EPA's) Climate Leaders Program, announced today it has received EPA approval for its greenhouse gas reduction goal.
Casella set an aggressive companywide greenhouse gas emissions reduction target at ten percent over seven years, from 2005 to 2012. This will reduce the company's emissions by 100,000 metric tons of CO2 equivalents each year.
The Climate Leaders Program, of which Casella has been charter member since 2003, is an industry-government partnership that works to develop long-term comprehensive climate change strategies.
"We have worked closely with the EPA since 2003 to inventory our greenhouse gas emissions and establish our reduction goals," said John W. Casella, chairman and chief executive officer of Casella Waste Systems. "Our thirty-two year history as a company has taught us that a commitment to protecting and conserving environmental resources opens up exciting and viable new business opportunities. We have made investments that are reshaping the way the world views waste. Waste is no longer a throw-away; it is a resource for producing renewable energy and a raw material for manufacturing new products. Reducing greenhouse gas emissions is part of our integrated sustainable resource management strategy."
"The solid waste industry can play an important role in reducing greenhouse gas emissions," said Kathleen Hogan, Director of EPA's Climate Protection Partnerships Division. "As the first solid waste and recycling services company to partner with EPA in the Climate Leaders program, Casella has assumed a leadership role in their industry which will make a positive environmental difference."
To reduce greenhouse gas emissions by ten percent, Casella will:
build landfill-gas-to-energy facilities at six landfills to produce renewable electric energy from methane, gas that historically has been vented or flared into the atmosphere;
improve the fuel efficiency and emissions of its fleet through alternative fuel vehicles and technology investments;
deploy energy conservation programs at its facilities; and
implement best practices created by our dedicated team of 2,800 employees.
Casella Waste Systems is an integrated solid waste and resource management company headquartered in Rutland, Vermont. In addition to traditional solid waste collection, transfer and disposal services, the company renewed the life-cycle of over 3.8 billion pounds of recyclable material (or, the equivalent of a line of fully loaded garbage trucks stretching from New York City to Omaha Nebraska) -and produced over 91,500 MWh of clean, renewable energy from landfill gas-to-energy facilities in the last year (or enough energy to power a community of 33,000 people each year).
For further information, investors should contact Ned Coletta, director of investor relations at (802) 772-2239; media should contact Joseph Fusco, vice president at (802) 772-2247; or visit the company's website at www.casella.com.
How Does Casella Calculate Its Emissions?
Casella calculates its companywide emissions using EPA Climate Leaders Greenhouse Gas (GHG) Inventory Guidance protocol. The EPA GHG Inventory Guidance is based on the existing GHG Protocol Corporate Accounting and Reporting Standard developed by the World Resources Institute and the World Business Council for Sustainable Development. For more information on the GHG Protocol, please visit: www.ghgprotocol.org. For more information on the Climate Leaders guidance, please visit: www.epa.gov/climateleaders/resources/guidance.html.
Who Monitors the Integrity of Casella's Emissions Data?
Casella's emissions inventory data as well as our GHG emission reduction goal progress will be monitored by the EPA Climate Leaders program. In addition, Casella will receive technical assistance from EPA in determining organizational and operational boundaries, identifying the most appropriate emission factors, and documenting these decisions in an Inventory Management Plan (IMP) that ensures consistency and transparency in the inventory over time. EPA performs desktop reviews of both the inventory data and IMP to ensure they meet EPA's quality standards and also conducts a risk-based on-site IMP review to ensure that the management plan is being well-implemented at the facility level.
What is the EPA Climate Leaders Program?
Launched in February 2002, EPA's Climate Leaders is an industry-government partnership that works to develop long-term comprehensive corporate climate change strategies. Climate Leaders Partners set a corporate-wide greenhouse gas reduction goal and inventory their emissions to measure progress.
Climate Leaders Partners represent a variety of sectors, from heavy manufacturing to banking and retail. These companies all strive to set the standard for greenhouse gas management in their sectors, and more broadly in the U.S. economy.
Safe Harbor Statement
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as the Company "believes," "expects," "anticipates," "plans," "may," "will," "would," "intends," "estimates," "targets" and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's beliefs and assumptions. We cannot guarantee that we actually will achieve the plans, intentions or expectations disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of our operations, involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in our forward-looking statements. There are a number of important risks and uncertainties that could cause our actual results to differ materially from those indicated by such forward-looking statements. These risks and uncertainties include, without limitation, the risk that future technologies will not develop in a manner that will enable us to achieve our target emission reductions goals, or that political, operational and other factors may impact our ability to implement strategies to achieve those goals.
For further information contact:
Director of Investor Relations