RBC Financial Group renews commitment to Green Power
Electricity from Renewable Sources Part of 'Bigger' Environmental Picture
for Financial Institution
TORONTO, Sept. 9 - Ontario Power Generation (OPG), a leading
generator and seller of electricity, today announced that RBC Financial Group,
Canada's largest financial institution and largest company by market
capitalization has renewed its commitment OPG Evergreen(TM) Energy Green
Power.
Over the next year, RBC Financial Group will again buy 1,000 megawatt
hours of Green Power--electricity produced from renewable sources such as
wind, low-impact hydroelectric, biomass and solar--from OPG for use at its
commercial sites throughout Ontario. All OPG's environmentally friendly
products are produced by facilities that have been EcoLogo(M)--certified, or
equivalent, under the federal government's Environmental Choice(TM) Program.
"RBC is committed to saving energy and contributing to a cleaner
environment through the use of Green Power," says Maria Cristiano of RBC's
real-estate operations. "We realize that sustained economic growth and a sound
environment are inextricably linked. Purchasing Green Power is just part of a
larger environmental picture for RBC Financial Group."
In 2002, RBC was named to the Dow Jones Sustainability Index list, an
index that recognizes financial, social and environmental leaders, for the
third consecutive year. RBC reported that energy consumption decreased for all
its utilities - electricity use was down 4.8 per cent; natural gas was down
5.4 per cent, and the company decreased its use of oil by 10.2 per cent.
Pete Sprukulis, Vice-President, Marketing, at Ontario Power Generation,
says that the decision by RBC Financial Group to renew its commitment to Green
Power is an example that companies throughout Ontario should follow.
"There is definitely a growing environmental awareness throughout the
province; with that awareness has come an increasing interest in Green Power,"
Sprukulis says. "When corporate leaders like RBC make a commitment to OPG
Evergreen(TM) Energy Green Power, they support the development of a market for
renewable energy sources."
OPG Green Power is drawn from a renewable energy pool that is expected to
grow in line with market demand. OPG Green Power is generated exclusively at
facilities that are EcoLogo(M) certified or the equivalent, and that exceed
the rigorous requirements outlined by federal legislation. All OPG injections
of Green Power into the Ontario grid on behalf of customers will be tracked,
verified, and audited, if necessary, by an independent third party. OPG is
selling environmentally friendly electricity directly to large industrial and
commercial organizations and to energy resellers. It does not supply the
residential market directly. For more information about Green Power, visit
greenpower.opg.com
Royal Bank of Canada (TSX, NYSE: RY) uses the initials RBC as a prefix
for its businesses and operating subsidiaries, which operate under the master
brand name of RBC Financial Group. Royal Bank of Canada is Canada's largest
financial institution as measured by market capitalization and assets, and is
one of North America's leading diversified financial services companies. It
provides personal and commercial banking, wealth management services,
insurance, corporate and investment banking, and transaction processing
services on a global basis. The company employs 60,000 people who serve more
than 12 million personal, business and public sector clients through offices
in North America and some 30 countries around the world. For more information,
please visit rbc.com.
Ontario Power Generation is an Ontario based company, whose principal
business is the generation and sale of electricity to customers in Ontario and
to interconnected markets. Our focus is on the risk-managed production and
sale of reliable electricity from our competitive generation assets. OPG's
goal is to be a premier North American energy company, while operating in a
safe, open and environmentally responsible manner. For more information, visit
opg.com. |
