Press release from Business Wire
APS Parent Recognized by Dow Jones and Corporate Responsibility Magazine for Sustainable Leadership
Wednesday, October 26, 2011
PHOENIX (Business Wire) -- By making business decisions based on what is best for its customers, the local economy, the environment and the communities it serves, Pinnacle West Capital Corporation (NYSE: PNW), parent company of Arizona Public Service, has been recognized by two highly respected and independent organizations for the Company's sustainability and corporate responsibility leadership.
Pinnacle West has been named to the Dow Jones North American Sustainability Index, widely recognized as one of the leading indices of corporate social responsibility, for the seventh consecutive year and as one of the 100 Best Corporate Citizens by Corporate Responsibility Magazine.
“Sustainability to us is about creating an energy future in Arizona that is cleaner, more efficient and smarter. We focus on a decision-making model that positively affects the local economy, the communities we serve and the environment,” said APS Vice President and Chief Sustainability Officer Ed Fox. “These rankings tell us our business strategy is on the right path.”
Pinnacle West's sustainability efforts include: generating electricity from renewable resources; implementing one of the most aggressive energy-efficiency programs in the country for its customers; enlisting innovative smart grid technologies; engaging in extensive community involvement; and making the company's conventional generation resources cleaner and more efficient.
The Dow Jones North American Sustainability Index is considered the yardstick by which companies are judged by investors on their long-term sustainability metrics. Companies are selected based on a comprehensive assessment of long-term economic, environmental and social criteria. Pinnacle West was one of only 12 electric utilities included in the index. The full list of Dow Jones Indexes can be found at http://www.djindexes.com/sustainability/.
This spring, CR Magazine ranked Pinnacle West number 15 on its 2011 list of 100 Best Corporate Citizens. Now, for the first time, the magazine has compiled a more detailed ranking of the 10 best corporate citizens by industry, naming Pinnacle West the top company in the utility sector.
CR Magazine evaluates companies on their performance and transparency in five primary segments of Corporate Responsibility: energy and the environment, risk management, governance and compliance, employee relations and human rights.
According to CR Magazine, the Best Corporate Citizens by industry are:
- Utilities - Pinnacle West Capital Corp.
- Financials/Insurance/Real Estate - JPMorgan Chase & Co.
- Information Technology - International Business Machines Corp.
- Materials - E.I. DuPont De Nemours & Co
- Customer Items - Mattel, Inc.
- Media & Entertainment - Starbucks Corp.
- Business Services - Accenture plc
- Consumer Staples - Campbell Soup Co.
- Energy - Chevron Corp.
- Healthcare - Bristol-Myers Squibb Co.
For more information on Pinnacle West's sustainability efforts and milestones, visit the 2010 Pinnacle West Corporate Responsibility Report at www.pinnaclewest.com/cr.
Pinnacle West Capital, an energy holding company based in Phoenix, has consolidated assets of about $12.5 billion, more than 6,300 megawatts of generating capacity and about 6,700 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the Company provides retail electricity service to more than 1.1 million Arizona homes and businesses. For more information about Pinnacle West, visit the Company's website at pinnaclewest.com.
Pinnacle West Capital Corporation
Alan Bunnell, 602-250-3376
Will Diaz, 602-250-2265
Rebecca Hickman, 602-250-5668
Geoffrey Wendt, 602-250-5643