Progressive Waste Solutions Ltd. (the “Company” or “Progressive Waste Solutions”) (NYSE, TSX: BIN) has been recognized for its leadership in the quality of climate change data it has submitted to the global marketplace through the CDP (formerly known as the Carbon Disclosure Project), the world’s only global environmental disclosure system which tracks how the world’s largest listed companies are acting in response to a changing climate.
Progressive Waste Solutions took part in CDP’s climate change program, designed to facilitate the management of greenhouse gas emissions and identify the risks and opportunities associated with climate change. The Company achieved a score in the top 10 percent of companies sampled in the CDP’s Canada 200 Climate Disclosure Leadership Index.
“We are very proud of our achievements in reducing our carbon footprint which underscores the progressive approach we take towards our commitment to creating a more sustainable future,” said Joseph Quarin, Vice Chairman and Chief Executive Officer of Progressive Waste Solutions. “Our efforts on lowering greenhouse gas emissions have primarily focused on two areas – landfill gas management and optimization of our collection fleet.”
The Company has increased the efficiency of its landfill gas collection systems through the adoption of industry leading system designs and innovative technologies. The capture of landfill gases has led to the beneficial reuse of the gas as a renewable energy source, creating enough electricity to power more than 30,000 homes or offsetting the use of 200,000 barrels of oil annually.
Progressive Waste Solutions has also launched a corporate initiative to replace its diesel-powered collection fleet with vehicles using natural gas, which is an economical and environmentally friendly fuel choice for transportation.. The Company currently has nearly 150 compressed natural gas (“CNG”) powered vehicles in operation in Surrey, British Columbia and Simcoe County, Ontario and is launching another fleet of CNG powered vehicles in Montreal in 2013. These vehicles will represent approximately 17 percent of the Company’s Canadian fleet, the largest fleet of natural gas powered waste collection vehicles in Canada. In the U.S., the Company has more than 120 CNG-powered vehicles, representing approximately 4 percent of its fleet in the country. In 2014, Progressive Waste Solutions expects 50 to 55 per cent of the total number of vehicles it purchases, through the normal course replacement of its fleet, will be fuelled by compressed natural gas.
The Company’s high scores within the CDP Report indicated the provision of robust climate data and a good understanding of climate change related issues affecting the corporation. Through various channels, including Bloomberg terminals, these scores are communicated to investors and other decision makers to assess corporate preparedness for changing market demands and emissions regulation.
Paul Simpson, CEO of CDP, commented: “Canadian companies that score highly enough to be included in the Climate Disclosure Leadership Index are responding to the call for greater corporate climate accountability. They have demonstrated leading practice on the measurement of greenhouse gas emissions and energy use, and transparency of their climate change strategy.”
Tom Carnac, President of CDP North America, said: “As we face increasing impacts from climate change, we are seeing the data companies disclose to CDP being used at every stage in investment decision making to identify environmental risks, as well as which companies may be taking best advantage of environmental opportunities. I congratulate the Canadian companies featured on the Canada 200 CDLI: they have demonstrated their ability to provide superior transparency to their stakeholders, a critical aspect of doing business today.”
The Canada 200 report including names of companies featured in the CDLI can be found at www.cdp.net.
About Progressive Waste Solutions Ltd.
As one of North America's largest full-service waste management companies, we provide non-hazardous solid waste collection, recycling and disposal services to commercial, industrial, municipal and residential customers in 13 U.S. states and the District of Columbia and six Canadian provinces. We serve our customers with vertically integrated collection and disposal assets. Progressive Waste Solutions Ltd.'s shares are listed on the New York and Toronto Stock Exchanges under the symbol BIN.
To find out more about Progressive Waste Solutions, visit our website at www.progressivewaste.com.
Commitment to Sustainability
Progressive Waste Solutions is committed to creating a more sustainable future. Our environmental practices and technologies provide benefits including: diversion of waste from our landfills through our recycling facilities; organized, timely, safe waste removal from residential and business communities; energy capture of greenhouse gases for productive use; and recycling and composting to conserve precious resources. Beyond meeting and exceeding regulatory expectations, we work constantly to identify best management practices that promote environmental sustainability.
CDP, formerly known as the Carbon Disclosure Project 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.
Progressive Waste Solutions Ltd.
VP, Investor Relations and Corporate Communications
Tel: (905) 532-7517
Manager, Investor Relations and Corporate Communications
Tel: (905) 532-7519