Company Profiles

National Express

United Kingdom

National Express provides public transportation services in the UK, North America, and Spain. The company's business divisions include trains and buses, serving both urban and rural areas. National Express understands the risks associated with climate change and believes that public transport will be a key part of the solution by promoting its use with policy makers, and partnerships with non-governmental organizations. As part of the company's efforts to increase public awareness regarding global warming challenges, National Express developed the "Carbon Club," the first environmentally motivated loyalty program in the transport sector. The plan allows passengers to see how much carbon they will save by using public transport rather than personal auto travel. The Carbon Club also enables customers to exchange "carbon saved" for free upgrades and tickets. National Express has calculated the total CO2 emission savings generated by its public transportation services and the savings are significant. In one year alone, the amount is over 600,000 tons of CO2 equivalents. Working to improve efficiencies, National Express has introduced regenerative braking technology that reduces electric train power consumption by about 16%. Portfolio 21 has asked for improvements in addressing end-of-life issues for its railcars and buses, eco-driving training for its drivers, and greater transparency regarding efforts to improve fleet fuel-efficiency and emissions standards.

To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 8/31/07 and may not reflect current opinions or subsequent events.