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Monumental’s Double Bottom Line is Getting Even Greener

June 8, 2017
At Monumental, we try to abide by what I call the double-bottom-line philosophy: the belief that the most successful companies are the ones that are not just financially successful, but also contribute to the social good. I’ve long believed that the opportunity to give back enriches the relationship between our teams, our fans and our community. Ultimately, I think it creates a tremendous shared point of pride: we are all proud to say that we are residents of the larger DMV community, and that we contribute to making our home a better place. One way we’re trying to build on that shared sense of community is by working to do our part to limit our impact on the environment.  We are committed to reducing our carbon footprint, diversifying our energy supply and taking responsibility for preserving our home.

That’s why we’re thrilled to announce this week that we are partnering with WGL to purchase power for the Verizon Center from a solar farm in Frederick County, Maryland.  As the Washington Post reported this morning, this solar electricity, bundled with national renewable solar energy credits, means that Verizon Center will operate using 25 percent solar energy.  And it means that the Capitals, Wizards, Mystics and Valor will be among the first professional sports teams in the nation to be powered by offsite renewable energy.

WGL reports that the carbon emissions avoided from this annual solar energy use are equivalent to taking nearly 700 cars off the road for one year.

As part of our partnership with WGL, we also make all events at Verizon Center greener by counterbalancing the greenhouse gas emissions generated by lighting, heating, cooling and concessions as well as generating and disposing of food and solid waste with carbon offsets. In 2016 Verizon Center’s greening partnership with WGL counterbalanced more than 3,123 tons of greenhouse gas emissions from 201 events at the arena, equivalent to avoiding the consumption of more than 351,000 gallons of gasoline or taking 660 cars off the road for one year.

This partnership with WGL results in contributions to the Carbon Reduction Fund, which is managed by the Chesapeake Bay Foundation, and goes toward new projects to reduce greenhouse gas emissions while also helping to improve air and water quality in our backyard - the Chesapeake Bay region. (Recently we learned that the government’s budget proposals would eliminate federal funding for the Chesapeake Bay Program, which helps to clean up the nation’s largest estuary. Learn more about the Chesapeake Bay Foundation here.)

We are humbled to know that others are recognizing this commitment. On behalf of the 3,000 employees at Monumental, I’m honored and proud to say that we have been selected for the Green Sports Alliance’s 2017 Innovator of the Year Award. And I promise that Monumental will continue to strive for greater environmental sustainability, tapping new technologies and solutions as well as thinking creatively about how to engage our partners, fans and communities in making this journey with us.

The theme of this year’s GSA annual summit, “PLAY GREENER™: Engaging Fans, Athletes & Communities,” is all about mobilizing GSA’s nearly 400 member venues, teams and leagues and their partners to bring about positive environmental and social impact across their fan bases and surrounding communities.

These efforts are making a difference.

These greening opportunities not only help to protect the planet but also reflect our broader community’s commitment to responsible environmental stewardship. We hope that by leading by example and by modeling sustainable behaviors, Monumental is playing our part in encouraging greater awareness and use of renewable energy and an increasing day-to-day commitment to living greener and more sustainably.

Because ultimately, it’s all about the double bottom line. We’ll always strive to do well as a business while also finding ways to serve a larger purpose by benefitting our local communities and contributing to our planet’s health.