Wireless Stock Sprint (NYSE:S) Named Sector Leader in CDP S&P 500 Climate Change Report
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OVERLAND PARK, Kan. - September 27, 2013 (Investorideas.com renewable energy stocks newswire) For the second year in a row, Sprint (NYSE: S) is recognized in the CDP S&P 500 Climate Change Report 2013, which tracks how America's largest listed companies are responding to climate change. Sprint was the only telecommunications company named to CDP's S&P 500 Climate Performance Leadership Index (CPLI), which highlights companies that demonstrate strategies committed to improving their impact on the environment.
"Sprint is proud to be recognized as one of the top U.S. companies in both carbon disclosure and performance," said Amy Hargroves, Sprint director of corporate responsibility and sustainability. "Our commitments to reduce our carbon footprint and increase our use of renewable energy are not only good for the environment, but good business. Our carbon reduction efforts alone will save Sprint an estimated $80M a year by 2017. We hope that our success can serve as a model, inspiring others to harvest the business and environmental benefits that carbon reduction offer."
Sprint took part in CDP's annual investor disclosure, which came at the request of 722 investors representing $87 trillion in assets. The program was designed to increase awareness of how to achieve efficiencies, realize monetary savings and capitalize on commercial opportunities from the management of energy, carbon emissions and climate change. Thirty-six S&P companies are recognized in the 2013 CPLI. Through various channels, including Bloomberg terminals, company performance is communicated to investors and other decision-makers who need to assess corporate preparedness for changing market demands and emissions regulation.
"American companies protecting themselves against climate risks and preparing to capitalize on the opportunities a changing climate presents are building competitive advantage," said Tom Carnac, president for CDP in North America . "Increasingly we are seeing that taking action to address climate change is good for business, so I am very pleased to see more US companies recognized in the CPLI than ever before."
Sprint has already achieved 94 percent of its industry-leading goal to absolutely reduce emissions by 20 percent by 2017 and remains the only U.S. carrier to have an absolute reduction goal that includes both Scope 1 and Scope 2 emissions. In 2012, Sprint reduced its overall emissions by 10.05 percent over the previous year and decreased carbon intensity by 37.3 percent – putting the carrier well ahead of schedule to reach its 2017 emission-reduction goals.
Sprint's success in this area is largely the result of Network Vision, an ongoing consolidation and re-engineering of the company's network technologies into one new, seamless network with the goal of increasing efficiency and enhancing coverage, call quality and data speeds. Other factors included an increase in the sourcing of renewable energy and the implementation of an automated Retail Energy Management (REM) system at 1,000 Sprint stores – which is expected to save $15 million in energy costs during the next 10 years.
Sprint also leads the U.S. telecommunications industry in reporting Scope 3 emissions. Sprint reported eight of 12 relevant categories this year, more than four times more than any other carrier, and received assurance on three: emissions from business travel, employee commuting and product use. Sprint has led the industry in this area thanks in part to guidance from partners including Ceres, NRDC and the World Wildlife Fund (Sprint is one of just 30 companies accepted into WWF's elite Climate Savers Program).
Sprint continues to raise the bar for the industry in other areas, including engaging in direct and vocal advocacy for the extension of the Production Tax Credit for wind. Its most recent project is the creation and launch of a booklet that provides step-by-step guidance on how suppliers can meet Sprint's greenhouse gas measurement and reporting criteria. Sprint has even provided open access to its own spreadsheet used to calculate its 2012 emissions and a blank sheet for suppliers to fill in and calculate their own emissions results. The Sprint booklet is free and publicly available on Sprint's website.
CDP is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 722 institutional investors with assets of US$87 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP now holds the largest collection globally of primary climate change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions. Please visit www.cdp.net or follow us @CDP to find out more.
Sprint offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint served more than 53 million customers at the end of the second quarter of 2013 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. The American Customer Satisfaction Index rated Sprint as the most improved company in customer satisfaction, across all 47 industries, during the last five years. Newsweek ranked Sprint No. 3 in both its 2011 and 2012 Green Rankings, listing it as one of the nation's greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
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