Exelon 2006 Annual Report Download - page 9

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7
Climate Change
We are also dealing with climate change. We believe that global climate
change is real. The scientific evidence strongly suggests that human activity
is warming the planet. And we believe that the time to act is now. Exelon has
already taken voluntary action to reduce our own greenhouse gas emissions
by 8 percent from 2001 levels under the Environmental Protection Agency’s
Climate Leaders Program. We are also actively advocating the passage of
economy-wide mandatory limits at the federal level, both individually and
through our association with the National Commission on Energy Policy
and the Pew Center on Global Climate Change. We support federal legislation
that will impose either a carbon tax or a cap-and-trade system with a safety
valve to govern economic impact. With our current nuclear fleet, we are
well positioned to provide environmental leadership into a low-carbon energy
future. And in the future, we intend to expand our low-carbon resource
portfolio around low or no carbon generation, energy efficiency, demand
management and renewables.
looking forward
I am often asked what our strategy is. The answer is quite simple. Our strategy
is to execute our Vision, in good times and in bad, to protect today’s value,
and to grow long-term value for the future. In the pages that follow we provide
a more detailed look at the Vision, and how its goals drive value, now and in
the future.
In sum, I continue to believe that Exelon has the best platform for confronting
an uncertain future. We have an exceptional generation business, one well
positioned to respond to increasing environmental challenges, and with
a demonstrated ability to make money when markets are up, or when they
are down. We have a stable and improving delivery business, with a strong
commitment to our customers and the communities we serve. And we have
the balance sheet and the financial discipline to sustain us.
We also have the Vision and the talent to guide that platform. We know
what it takes to be the very best, and we have the proven judgment and the
absolute commitment of a seasoned management team to get us there.
And even more fundamentally, we have a bedrock commitment to value, one
that will see us through our current and future challenges.We are value driven.
John W. Rowe
Chairman, President and CEO
Exelon Corporation
March 9, 2007