Keystone XL Oil Pipeline Owner Wins Climate Leadership Award

TRANSCANADAWASHINGTON -– The company that wants to build the Keystone XL pipeline was recognized this week for leadership on climate change -– to the shock of environmental activists.

Alberta-based TransCanada, which has been seeking permission to build the 1,660-mile pipeline from Canada's oil sands to refineries in Texas, was included as a corporate climate leader on the Carbon Disclosure Project's Climate Performance Leadership Index 2014. The Carbon Disclosure Project, or CDP, is a United Kingdom-based nonprofit that works with companies to tally and report their greenhouse gas emissions. TransCanada was one of five energy sector companies included on the "A List" in this year's report.

The report notes that the company has set targets for emission reductions, and includes a quote from TransCanada: "Our business strategy is informed by the risks and opportunities from climate change regulations, physical climate parameters and other climate-related developments such as uncertainty in social drivers ... we anticipate that most of our facilities will be subject to future regulations to manage industrial [greenhouse gas] emissions."

In a blog post, TransCanada said the listing "presents those companies identified as demonstrating a superior approach to climate change mitigation."

"Recognition at the highest level by the CDP -- the international NGO that drives sustainable economies -- is very significant to us," TransCanada president and CEO Russ Girling said in a statement Thursday. "For us, our CDP ranking helps us continue to challenge ourselves in terms of protecting the environment at every level of our organization."

Read more: