Hauppauge, NY (PRWEB) March 26, 2013
Target Rock Advisors has named its utility industry sustainability leaders in the large capitalization, mid-cap and small cap categories. The eight utilities named are being recognized for their performance and management of the classic pillars of sustainability: environmental stewardship, economic performance and societal contribution. The category winners announced today are in addition to the overall industry leader, Sempra Energy, whose award was announced at the ‘State of Energy’ dinner at the EnergyBiz Leadership Forum in Washington, DC on March 19th.
The 2013 “large cap” Sustainable Utility Leaders are, in alphabetical order, Duke Energy Corporation, PG&E Corporation and the overall sustainability index leader, Sempra Energy. Mid-cap utility winners are IDACORP, Inc., NV Energy, Inc., and Pinnacle West Capital Corporation. The small cap award recipients are ALLETE, Inc, MGE Energy, Inc., and Unitil Corporation. The winners have been chosen from a field of approximately 150 publicly traded energy utilities and related companies domiciled in the United States, representing some 350 distinct operating subsidiaries. The awards are grouped into market capitalization categories to acknowledge the different challenges faced by utilities because of their size.
The utilities cited for the awards were chosen based on an assessment process that measures performance in the three Triple-Bottom-Line (TBL) categories. Within the three categories, hundreds of dimensions of each utility’s performance are analyzed and scored. According to Target Rock Managing Partner Richard Rudden; “The Target Rock approach is a bit unforgiving; all utilities are assessed using a common yardstick applied to publicly available and verifiable data, and the hard facts of actual historic performance, regardless of the reasons.” The Target Rock Index can be used by investors to guide sustainable and socially responsible portfolio decisions.
As a group, the stocks of utilities that most successfully managed their triple bottom lines over the last ten years have significantly outperformed other utilities, as well as the broader market indexes, such as the S&P 500. “Sustainability is about the full range of interactions a company has with all of its stakeholders” continued Mr. Rudden. “It’s not just about environmental awareness or reporting transparency, it is also about strong management teams that balance the many aspects of their utility operations.” Mr. Rudden added, “By improving the line of sight between sustainability and stock performance, the Target Rock indexes provide significant value to both the utility industry and financial community.”
About Target Rock Advisors
Target Rock Advisors, LLC provides research, data and analytics, as well as related consulting services to utilities, the financial community and other related industries. Target Rock explores the complex relationship between the elements of the classic pillars of sustainability: environment, economy and society, also referred to as the triple-bottom-line. The Target Rock sustainability assessment, scoring and ranking processes draw from a complex benchmarking model containing over 2 million data points and over 400 performance indicators. The Target Rock Sustainable Utility Leadership index* tracks the aggregate stock market performance of the top-performing companies chosen from Target Rock’s assessment and ranking process. Data from the company’s assessment and ranking process also helps utilities by providing benchmarks for achievement in a wide variety of sustainability-related activities.
For more information visit http://www.targetrockadvisors.com.
- The Sustainable Utility Leadership Index (SULI or the “Index”) is the exclusive property of Target Rock Advisors, LLC, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indicies LLC) (“S&P Dow Jones Indicies”) to calculate and maintain the Index. S&P is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS"); Dow Jones is a registered trademark of Dow Jones Trademark Holdings, LLC (“Dow Jones”); and these trademarks have been licensed to S&P Dow Jones Indicies. “Calculated by S&P Dow Jones Indicies” and its related stylized marks have been licensed for use by Target Rock Advisors, LLC. Neither S&P Dow Jones Indicies, SPFS, Dow Jones nor any of their affiliates shall be liable for any error or omissions in calculating the index.