|Staples' Renewable Power Use Reaches Industry-Leading Ten Percent of Electricity Consumption; Staples Achieves Milestone with World Resources Institute's Green Power Group|
FRAMINGHAM, Mass.--(BUSINESS WIRE)--Sept. 17, 2003--Staples, Inc. (Nasdaq: SPLS) announced today that its renewable power use increased from less than two percent to an industry-leading ten percent of its total annual U.S. electricity consumption. Staples jointly announced this milestone with the World Resources Institute's (WRI) Green Power Market Development Group, a group helping corporate buyers diversify their energy portfolios with green power and reduce their impact on climate change.
As a member of The Green Power Group, Staples achieved ten percent renewable energy through the purchase of 46 million kilowatt hours per year of renewable energy certificates (RECs) becoming part of the largest REC deal in the United States. RECs represent the amount of pollution avoided when electricity is generated by renewable resources instead of by fossil fuels. Staples' RECs are generated by projects that produce electricity from wind farms in the Great Plains and from biomass and landfill gas resources. The purchase of 46 million kilowatt hours per year is equivalent to the annual power consumption of more than 4,000 homes.
"We applaud Staples' corporate commitment to purchasing green power," said Jonathan Lash, WRI president. "We urge other companies to follow their environmental leadership and make similar decisions in the future."
"Renewable power procurement is a cornerstone of Staples' company-wide environmental commitment," said Mark Buckley, vice president of environmental affairs at Staples. "Reaching ten percent renewable energy doubles our initial goal this year, and we accomplished this through the tremendous help of The Green Power Group. By working together, we're able to obtain green power for our 1,200 U.S. stores and distribution centers that results in significant cost savings and environmental benefits."
Staples' renewable energy use will avoid the release of approximately 34 million pounds of the greenhouse gas carbon dioxide into the atmosphere per year, relative to national average power plant emissions, which is equivalent to avoiding the emissions of more than 2,800 cars per year.
The Green Power Market Development Group
Convened in 2000 by the World Resources Institute, the Green Power Market Development Group is a unique commercial and industrial partnership dedicated to building corporate markets for green power. The Group is transforming energy markets to enable corporate buyers to diversify their energy portfolios with green power and reduce their impact on climate change. The Group seeks to develop 1000 megawatts of new, cost-competitive green power by 2010 -- enough energy to power 750,000 homes. Its members are Alcoa Inc, Cargill Dow LLC, Delphi Corporation, The Dow Chemical Company, DuPont, General Motors, IBM, Interface, Johnson & Johnson, Kinko's, Pitney Bowes, and Staples.
Staples and the Environment
Staples, widely recognized as an environmental leader, is committed to protecting and preserving natural resources in four areas: the purchase and promotion of recycled content products; chain-wide recycling initiatives; energy conservation programs and renewable power procurement; as well as educational initiatives for customers and associates.
About Staples, Inc.
Staples, Inc. is headquartered outside of Boston and sells a wide range of office products, including supplies, technology, furniture, and business services. With 2002 sales of $11.6 billion, Staples is committed to make buying office products easy. Nearly 58,000 associates serve consumers and businesses of all sizes - from home-based businesses to Fortune 500 companies in the US, Belgium, Canada, France, Germany, Italy, the Netherlands, Portugal, Spain, Sweden, and the United Kingdom. Staples invented the office superstore concept and today, with approximately 1,500 office superstores, is the largest operator of office superstores in the world. Staples also serves its customers through its mail order catalog, e-commerce and contract businesses. More information is available at http://www.staples.com.
CONTACT: Staples, Inc.