Duke Energy Dropped from Global Dow Jones Sustainability Index for Dirty Energy Use

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Greenpeace applauds the action taken today to remove Duke Energy from the global Dow Jones Sustainability Index.(Source: DJSI 2012 Review Results - A Cooperation of S & P Dow Jones Indices & SAM http://www.sustainability-indexes.com/images/review-presentation-2012_tcm1071-343085.pdf)

“We look forward to Duke Energy making the changes necessary for them to be "best in class" as required by the Index. Until that time, the company will continue to meet greater public scrutiny of the real-world impacts of its fossil fuel and nuclear-heavy business practice. As the largest utility in the country, Duke Energy can be a leader in the sector by shifting its investments towards renewable energy,” said Greenpeace Climate Campaigner Robert Gardner.

“Unlike those companies on the index that distinguish themselves through a commitment to delivering a sustainable product with minimal environmental impact, Duke is setting itself apart with a profit model tied almost exclusively to dirty, polluting energy. Duke's most recent Integrated Resource Plan (IRP) for North Carolina makes it clear that the company will generate just 3% of their energy from renewables by 2020,” said Mr Gardner.

In July, Greenpeace released Charting the Correction Course: A Clean Energy Pathway for Duke Energy. The report details how Duke Energy can save their customers $108 billion over 20 years by investing in renewable energy and energy efficiency. The plan would benefit consumers, the environment and investors. According to the report, Duke could source 33 percent of its electricity from wind, solar and efficiency resources while saving ratepayers 57 percent on their bills over the next 20 years. The clean energy pathway proposed in the report would also reduce long-term debt for the company by 75 percent compared to Duke’s current plans.

“Duke Energy - now the country’s largest utility – can expect more of the same if it continues down it’s dirty energy course. It’s time for Duke to start delivering on it’s rhetoric by committing to a clean energy pathway,” Mr Gardner said.

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Keiller MacDuff
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