Date: December 6, 2007
Source: Veolia Environmental Services North America Corp.
Veolia Environmental Services North America Corp. Becomes Member of the Chicago Climate Exchange
Veolia Environmental Services North America Corp. (VESNA), the Veolia Environmental Services subsidiary in the United States, is furthering its commitment to the environment by becoming a member of the Chicago Climate Exchange (CCX). The CCX is one of the world's leading and North America's only voluntary, greenhouse gas emissions registry, reduction and trading program.
"CCX is very pleased to welcome VESNA to the Exchange," said Dr. Richard L. Sandor, CEO and founder of CCX. "Our members are leaders in their sectors, and also leaders in the effort to address the challenge of climate change. Participation in CCX continues to highlight the fact that CCX membership makes excellent business and governance sense, while also providing a platform for sound action to protect our planet for ourselves and future generations."
As part of CCX, VESNA has voluntarily committed to achieving greenhouse gas emission reductions of 6% below baseline by 2010 — the baseline being the average annual emissions from 1998-2001. CCX operates a cap-and-trade system, whereby those who reduce below the targets have surplus allowances to sell or bank and those who emit above the targets must purchase CCX Carbon Financial Instrument contracts to achieve compliance. Verification is provided by the Financial Industry Regulatory Authority (FINRA), which regulates the securities industry, including the New York Stock Exchange.
Denis Gasquet, Chief Executive Officer of Veolia Environmental Services (VES), commented on the membership. "By joining CCX, and in line with the strategy of the Veolia Environnement group, it is our goal to become a pioneer in greenhouse gas management. We are extending the strategy implemented in other markets by Veolia Environnement to the United States. In Europe, in particular, Veolia Environnement and VES have a great deal of experience in the cap and trade system for greenhouse gas emissions."
Continued Gasquet, "We are taking up the industrial, economic and social challenges of sustainable development through our involvement in major national and international programs to promote renewable energy and combat climate change. Beyond technical and logistic solutions, our entire corporate culture is now founded on resource savings, environmental protection and the conservation of natural environments."
Veolia Environnement, the parent company of Veolia Environmental Services, has established a strong presence in North America and the world, offering both public and private sector clients an integrated approach to environmental services. The company is a member of the major stock market indexes recognizing sustainable development, including the Dow Jones Sustainability World Index, the Dow Jones STOXX Sustainability Index, the FTSE4Good Index and the Advanced Sustainable Performance (ASPI) Eurozone Index.
About the Chicago Climate Exchange
CCX began greenhouse gas emissions allowance trading in 2003 and is the world's first and North America's only legally binding rules-based greenhouse gas emissions allowance trading system, as well as the world's only global system for emissions trading based on all six greenhouse gases. CCX members are leaders in greenhouse gas management and represent all sectors of the global economy, as well as public sector innovators. CCX members commit to reduce their greenhouse emissions a minimum of 4% below annual average of 1998-2001 by 2006 and 6% by 2010, depending on membership phase. Reductions achieved through CCX are the only reductions in North America being achieved through a legally binding compliance regime, with price transparency and independent third party verification provided by NASD (National Association of Security Dealers). The 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 for his work in founding CCX. For a full list of CCX members, daily prices and other program information, see www.chicagoclimateexchange.com. CCX is a wholly owned subsidiary of Climate Exchange Plc, a public stock company listed on the AIM Market of the London Stock Exchange. Climate Exchange Plc also owns the European Climate Exchange, Europe's leading CO2 emissions exchange. For more information, please visit www.climateexchange.com.
About Veolia Environmental Services in North America
Veolia Environmental Services North America Corp., headquartered in Lombard, IL, is the US subsidiary of Veolia Environmental Services. It offers fully integrated environmental solutions to the industrial, commercial, municipal and residential sectors. It is part of the Veolia Environmental Services (VES) group, which is the waste management division of Veolia Environnement and the only global manager of liquid, solid, non-hazardous and hazardous waste. Veolia Environmental Services provides waste management and logistics services (collection, pipe systems maintenance, cleaning, waste flow management), as well as materials recovery and recycling. VES generated revenue of €7.4 billion in 2006.
Veolia Environnement (Paris Euronext:VIE) and (NYSE:VE - News) is world leader in environmental services. With more than 300,000 employees the company has operations all around the world and provides tailored solutions to meet the needs of municipal and industrial customers in four complementary segments: water management, waste management, energy management and freight and passenger transportation. Veolia Environnement recorded revenue of €28.6 billion in 2006.
For more information, contact:
Veolia Environmental Services North America, Lombard
Denisse Ike, 630-218-1751
Denise Graham, 904-354-2600