Remarks – Eva
S. Hardy
Executive Vice President,
Dominion
Women in Nuclear Conference
Anaheim, CA
July 17, 2007
“Dominion and
the Power of Giving”
This is
the third time I have had the pleasure of speaking at a “Women in Nuclear” conference. The
first was at a regional gathering in Connecticut in 2004… and the second
was in Pennsylvania last year. Since we are in Anaheim, I can honestly
say I have followed WIN coast to coast.
If
we can put aside the magic spells, beautiful weather and fantasy of Never-Never
Land, I’d like to share a few thoughts with you about the very real world
of communications and community relations – fundamental supports for
strong nuclear operations. Specifically, the way in which corporate
philanthropy and volunteering inform Dominion’s community outreach program.
If
I only had one word with which to explain our philanthropic activities and
community involvement, that word would be “credibility.”
Fortunately,
I work for a CEO who understands that credibility, good operations and community
outreach lie at the heart of any successful business enterprise. He knows
that credibility is a priceless commodity. He appreciates the goodwill
we earn by being active participants in community life.
It
boils down to trust. If my company – or your company – fails
to earn and keep the public trust, think how much more difficult it would be
to achieve favorable business and regulatory outcomes. Both are key to
a healthy bottom line.
Credibility
is fundamental – and very fragile. As we have learned from TMI
and Chernobyl in the nuclear industry… and also from the Exxon Valdez
and Enron… it can take years, even decades, to recover from one misstep,
one accident or one ethical lapse.
That
is why it is so important to build and maintain good relations with your stakeholders. You
can never know when your company’s credibility is going to be threatened.
In
that context, corporate philanthropy and volunteerism make perfectly good business
sense -- the company and its individual employees reaching out
to support community life.
Experience has taught us that investing dollars and
time in the community helps counter stereotypical charges of “greedy
and heartless corporations.”
It’s all about building strategic partnerships
and relationships – and
doing the right thing, too.
Not everyone agrees with that point of view. There’s
a school of thought that believes the only legitimate business of business
is maximizing profit and increasing shareholder value.
That bottom-line perspective
was first articulated in the 1970s by the late economist, Milton Friedman. His
views on the subject are not as prevalent today as they were then, but they are still
popular in some circles.
At Dominion, we think that perspective is a little
too narrow for today’s
complex world. We believe, as more and more companies do, that
One, maximizing
profits and growing shareholder value requires a long-term perspective;
And
two, acting in a responsible way is more than window-dressing or posturing;
rather, it is enlightened self-interest that helps ensure the company’s
long-term viability – without which there can be no profits or long-term
shareholder value whatsoever.
Dominion is a major provider of electricity
and natural gas. As such,
we have a fundamental, 24/7 connection to the communities we serve. We
are literally linked to them through our distribution wires and pipes. The
products we sell are the lifeblood of everyday life.
So our presence in the
community is felt on a daily basis. We try to
strengthen that presence by being a good neighbor.
Charitable giving and volunteering
are two of the main ways we do that.
Our corporate giving program is carried
out primarily through the Dominion Foundation. Last year, we channeled
10 million dollars through the Foundation to about 1,000 qualified environmental
organizations, educational institutions, cultural and community development
groups, and health and human services providers in 21 states and the District
of Columbia – areas where Dominion has
business interests.
We do this through local employees who serve on Community
Investment Boards. They
provide recommendations to the Foundation for funding community-based projects.
Let
me give you some examples from the nuclear side of our business.
Dominion Nuclear
receives Foundation support for its award-winning educational outreach programs,
which are conducted at our facilities and also in the schools. This
philanthropic activity is closely tied to Dominion’s workforce initiatives.
At
our North Anna and Surry visitor centers in Virginia, for example, we have
provided tours and energy-related educational programs for more than 150,000
adults and students.
Last year, more than 100 Girl Scouts attended a day-long
program called “It’s
Electric II” at our Technical Center near Richmond. The girls partnered
with professional women in nuclear, chemical and mechanical engineering to
learn about electricity, energy conservation and meteorology – and also
about career opportunities in the energy business.
Our Millstone nuclear station
in Connecticut also has some excellent educational programs and a very strong
partnership with area schools.
And the Kewaunee station near Green Bay, Wisconsin
recently partnered with NEED – the National Energy Education Development
group – to hold
workshops for teachers in Kewaunee County on various energy-related subjects.
These
and many other programs that support education and workforce development have
been funded by grants from the Dominion Foundation.
In fact, every year we provide
more than $200,000 in educational partnership grants for K-12 programs in states
where we do business. These grants
target math, science and technology instruction – subject areas that
link closely with critical skills we need in today’s and tomorrow’s
workforce.
Occasionally, we will make a major grant to an individual
school system. In
2006, for example, we awarded a multi-year $300,000 grant to a public school
system in rural Virginia seeking funds to start a robotics program and renovate
a laboratory. Dominion has a major power station in the area.
Although
education is a strategic focus area of our corporate giving, Dominion Foundation
grants also go to many other worthwhile causes, including
Land conservation
and protection of wildlife habitat…
Food banks, homeless shelters and
Habitat for Humanity projects…
And performing arts and cultural institutions,
especially those with children’s
programs and rural outreach initiatives.
Dominion also has a very popular
employee matching gifts program. We
encourage our 17,000 employees to support eligible non-profit organizations
where they live and work.
In 2006, for example, the company provided about 1.4
million dollars in matching funds to almost 1,500 non-profit and educational
institutions in 49 different states.
Strategic philanthropy is an important
aspect of the partnerships that Dominion has long nourished with the communities
where we operate. So is volunteering.
Employees who volunteer in the
community do more to put a human face on our company than anything else I can
think of.
With the full backing of senior management, Dominion
volunteers donate thousands of hours of time each year to a broad range of
community initiatives – home
repair for the elderly… mentoring at elementary schools… and
March of Dimes Walk-A-Thons, to mention only a few.
Programs that target children,
families and education are a top priority for our volunteers.
Last fall, for
instance, a team of Dominion volunteers from the North Anna Power Station worked
with officials at Livingston Elementary in Spotsylvania, Virginia, to build
a greenhouse and butterfly garden on the school grounds.
Dominion donated five
thousand dollars toward the cost of the project, and our volunteers spent one
entire day building the greenhouse and landscaping around it. Now the
school has an outdoor learning center where the kids can picnic – and
learn something while they’re at it.
These kinds of projects benefit the
community in obvious ways. Not
so obvious may be the ways they benefit our employees and the company by fostering
teamwork and relationship building along the way.
Volunteering supports personal
and professional growth. We have found
it to be a great tool for stimulating creativity and teamwork in the workforce. And
our volunteers consistently and repeatedly tell us they get back more than
they give when they’re helping out in the community.
This employee’s
experience illustrates my point. His name is John
Swenarton, and he was profiled in the most recent issue of Dominion’s
employee news magazine.
John is a marine biologist at our Millstone nuclear
station in Connecticut. He
volunteers as a Little League baseball coach and also conducts educational
programs at area schools. In addition, John serves on the local Conservation
Commission, which advises city council about protecting the community’s
varied natural resources.
In his magazine profile, John said: “I
really enjoy working with kids. I visit local schools and host occasional
tours of our [environmental] lab. I use our work here at Millstone to
teach students about ecology and how it can be applied.”
John’s
story captures a fundamental truth: community service makes
people feel good about themselves.
If you’re company sponsors a volunteer
program and you’ve thought
about participating but haven’t, I urge you to think a little harder. The
rewards could be great – for everyone involved.
And that’s really
the essence of my message. Volunteering
benefits everything it touches:
Businesses gain a sense of ownership in community
issues…
The community gains leadership skills and other
talents that volunteers can provide…
And volunteers gain from enriching lives – others and their
own.
Ultimately, I think the volunteer experience demonstrates that each and
every individual can make a valuable contribution to the quality of
community life.
And companies that understand the importance of staying
connected to their communities – whether through financial support, volunteer projects
or other means – they are the ones adding real value and protecting the
long-term interests of their owners.
Bottom line: it’s good business
to give to the community and to be part of the community.
