wfn.org | [PCUSANEWS] MRTI, Cinergy become partners

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Note #8121 from PCUSA NEWS to PRESBYNEWS:

MRTI, Cinergy become partners
04080
February 13, 2004

MRTI, Cinergy become partners

Group will examine energy giant's effect on environment

by Evan Silverstein

LOUISVILLE - A Presbyterian Church (USA) affiliate is collaborating with
Cincinnati's Cinergy Corp. on a report outlining how the Ohio power company
is trying to minimize harm to the environment.

Mission Responsibility Through Investment (MRTI), a group that monitors
corporations whose stock is owned by denominational entities, met with
Cinergy officials in Cincinnati on Feb 4.

The contemplated report will outline steps Cinergy has taken in response to
mounting regulatory, competitive and public pressures to reduce emissions of
carbon dioxide and other harmful emissions from its facilities.

The report will be reviewed by the public-policy committee of Cinergy's board
of directors and will be included in the corporation's 2003 annual report to
shareholders and in its 2003 Environmental, Health and Safety Progress
Report.

Plans for the MRTI-Cinergy report were announced during a Feb. 12 meeting
here of the National Ministries Division Committee (NMDC), which gathered in
connection with a regular meeting of the General Assembly Council (GAC).

"We appreciate Cinergy's willingness to discus and collaborate on these
issues that are of great importance to society and to investors," said the
Rev. William Somplatsky-Jarman, the PC(USA) associate for MRTI. "As a result
of this dialogue, we will withdraw a proposed shareholder resolution that we
had requested to be included in the company's annual meeting proxy."

MRTI also assesses companies' compliance with General Assembly policies on
matters such as environmental protection and safe labor practices. It
combines Assembly-approved standards and shareholder engagement through proxy
voting, dialogues with executives and shareholder resolutions.

Cinergy's regulated delivery operations in Ohio, Indiana and Kentucky serve
about 1.5 million electric customers and 500,000 gas customers.

"Cinergy has undertaken several initiatives to establish its leadership in
social and environmental responsibility," said James E. Rogers, Cinergy's
chairman, president and chief executive officer. "Cinergy is currently
partnering with (public interest group) Environmental Defense on a greenhouse
gas emissions-reduction program. We are delighted to join with Mission
Responsibility Through Investment to produce another effective collaborative
process on these crucial public policy matters."

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