Electric Power Sector Verification Statement
This Verification Statement documents that [LRQA, Inc] has conducted verification activities in compliance with
ISO 14064-3 and The Climate Registry’s (TCR) General Verification Protocol. This statement also attests to the
fact that lLRQA, Inc provides [reasonable assurance] that [Exelon Corporation] reported greenhouse gas
emissions from January 1, [2015] through December 31, [2015] are verifiable and meet the requirements of
TCR’s voluntary program.
Reporting classification:
Transitional
Complete
Historical
Reporting Boundary:
North American
Worldwide (including North America)
North America); Transitional or Historical, specify boundary:
Worldwide (non-
Consolidation methodology:
Control Only: (
Financial or
Equity Share and Control (
Type of verification:
Batch
Operational)
Financial or
Streamlined
Operational)
Full
GHG reporting protocols against which verification was conducted:
The Climate Registry’s General Reporting Protocol Version 2.1, dated January 2016
The Climate Registry’s GRP Updates and Clarifications document dated
The Climate Registry’s Electric Power Sector Protocol version 1.0 dated June 2009
The Climate Registry’s EPS Updates and Clarifications document dated August 2010
Others (specify): ____
GHG verification protocols used to conduct the verification:
The Climate Registry’s General Verification Protocol version 2.1, dated June 2014
The Climate Registry’s GVP Updates and Clarifications document dated March 2016
The Climate Registry’s Electric Power Sector Addendum to the General Verification Protocol, version 1.1,
dated June 2014
Others (specify): ____
Base Year (if applicable): 2012
TCR GRP v. 2.0 – EPS Verification Statement Form
Last modified: March 25, 2016
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Electric Power Sector Entity Information
Total Entity-Wide Emissions Verified (Control Criteria):
Total Scope 1 Emissions: 7,733,755 metric tons CO2e, consisting of metric tons of each GHG as follows:
7,202,997 CO2 16,416 CH4 28 N2O 3,329 HFCs (CO2e) 432 PFCs (CO2e) 0.0 NF3 5 SF6
Biogenic Direct CO2 Emissions (stationary and mobile combustion only): 361,149 metric tons CO2
Total Location-based Scope 2 Emissions: 8,039,279 metric tons CO2e, consisting of metric tons of each GHG
as follows:
7,997,542 CO2 136 CH4 129 N2O
Biogenic Indirect Location-based CO2 Emissions: 173 metric tons CO2
Total Market-based Scope 2 Emissions: 4,825,150 metric tons CO2e, consisting of metric tons of each GHG
as follows:
4,784,721 CO2 130 CH4 125 N2O
Biogenic Indirect Market-based CO2 Emissions: 173 metric tons CO2
Total Entity-Wide Emissions Verified (Equity Share Criteria, if applicable):
Total Scope 1 Emissions: 7,677,225 metric tons CO2e, consisting of metric tons of each GHG as follows:
7,123,152 CO2 17,402 CH4 24 N2O 3,303 HFCs (CO2e) 196 PFCs (CO2e) 0.0 NF3 5 SF6
Biogenic Direct CO2 Emissions (stationary and mobile combustion only): 361,149 metric tons CO2
Total Location-based Scope 2 Emissions: 8,082,297 metric tons CO2e, consisting of metric tons of each GHG
as follows:
8,040,380 CO2 137 CH4 129 N2O
Biogenic Indirect Location-based CO2 Emissions: 173 metric tons CO2
Total Market-based Scope 2 Emissions: 4,872,313 metric tons CO2e, consisting of metric tons of each GHG
as follows:
4,831,700 CO2 131 CH4 125 N2O
Biogenic Indirect Market-based CO2 Emissions: 173 metric tons CO2
TCR GRP v. 2.0 – EPS Verification Statement Form
Last modified: March 25, 2016
Page 2 of 3
Verified Metrics:
Please complete the table below to indicate which of the following metrics have been verified and meet TCR’s
EPS Protocol reporting requirements and the five percent materiality threshold:
YES
NO*
N/A**
EPS Metrics
EPS Metric G-4 (company average)
Average power deliveries metric for system mix
All “Certificate-Adjusted” average power delivery metrics
All facility-specific generation metrics (EPS Metrics G-1
through G-3, as applicable)
All optionally reported power delivery metrics (EPS Metrics D1 through D-3, as applicable)
* A finding of “Unable to verify conformance” must be issued if the response to any of the metrics above is “No”
** Response of N/A is acceptable only if Member is a transitional reporter or if optional metrics were not reported.
Verification Opinion:
Conformance
Unable to verify conformance; summarize reason (e.g., “due to data errors” or “due to non-compliance with
TCR’s reporting requirements):
Comment:
Attestation:
[Marisol Bacong], Lead Verifier
5/16/2016
Date
Digital Signature Acknowledgement*
Derek Markolf, Independent Peer Reviewer
5/19/2016
Date
Digital Signature Acknowledgement*
Authorization:
I Melanie Dickersbach accept the findings in this Verification Statement and authorize the submission of this
Verification Statement to The Climate Registry on behalf of [Exelon Corporation].
5/20/2016
[Member Representative Signature]
Date
X Digital Signature Acknowledgement*
* For digital signature: By checking the “Digital Signature Acknowledgement” box, I agree that this Verification Statement shall be
deemed to be “in writing” and to have been “signed” for all purposes and that any electronic record will be deemed to be in “writing.” I
will not contest the legally binding nature, validity, or enforceability of this Verification Statement and any corresponding documents based
on the fact that they were entered and executed electronically, and expressly waive any and all rights I may have to assert any such claim.
TCR GRP v. 2.0 – EPS Verification Statement Form
Last modified: March 25, 2016
Page 3 of 3
Assurance Statement related to
Exelon Corporation’s Scope 3 GHG Emissions
prepared for Exelon Business Services Company, LLC
Terms of Engagement
This Assurance Statement has been prepared for Exelon Business Services Company, LLC.
Lloyd’s Register Quality Assurance Ltd. (LRQA) was commissioned by Exelon Business Services
Company, LLC to assure the Exelon Corporation (Exelon) Scope 3 Greenhouse Gas (GHG)
Emissions for the calendar year 2015, (hereafter referred to as “Scope 3 GHG Emissions”).
The Scope 3 GHG Emissions includes the following reported other indirect emissions:
 Fuel-and-energy-related activities (not included in Scope 1 or 2): Emissions associated with
power sold under long term power purchase agreement
 Waste generated in operations: Represents the emissions that occur from landfilling.
 Avoided emissions from improved waste management and recycling efforts.
 Employee business Travel: includes car rental, intercity rail, commercial airline, hotel stays,
and reimbursed miles.
 Upstream leased assets: includes direct and indirect emissions of leased facilities
 Services provided: Includes equipment Exelon operates for customers that resides on
customers’ sites
 Use of sold products (Utility electric delivered): Based on retail customers use of electricity
not generated by Exelon.
 Use of sold products (Utility natural gas delivered): Based on retail customers use of natural
gas not generated by Exelon.
Management Responsibility
Exelon’s management was responsible for preparing the Scope 3 GHG Emissions and for maintaining
effective internal controls over the data and information disclosed. LRQA’s responsibility was to carry
out an assurance engagement on the Scope 3 GHG Emissions in accordance with our contract with
Exelon.
Ultimately, the Scope 3 GHG Emissions have been approved by, and remains the responsibility of
Exelon.
LRQA’s Approach
Our verification has been conducted in accordance with ISO 14064–3:2006 Specification with
guidance for validation and verification of greenhouse gas assertions to provide limited assurance that
GHG data as presented in the Scope 3 GHG Emissions have been prepared taking into consideration
The Climate Registry’s (TCR) General Reporting Protocol, the TCR Electric Power Sector Protocol,
and Exelon’s internal Inventory Management Plan.
To form our conclusions the assurance engagement was undertaken as a sampling exercise and
covered the following activities:
 Reviewed processes related to the source and collection of GHG emissions data
 Interviewed relevant staff of the organization responsible for managing GHG emissions data
and records; and
 Verified GHG emissions data and records at an aggregated level for the calendar year 2015
 Recalculated emissions based on stated calculation methodology
Level of Assurance & Materiality
The opinion expressed in this Assurance Statement has been formed on the basis of a limited level of
assurance and at a materiality of the professional judgment of the Verifier.
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LRQA’s Opinion
Based on LRQA’s approach nothing has come to our attention that would cause us to believe that the
Scope 3 GHG Emissions as summarized in Table 1 below are not materially correct and have not
been prepared taking into consideration ’the TCR General Reporting Protocol, the TCR Electric Power
Sector Protocol, and Exelon’s internal Inventory Management Plan.
Marisol Bacong
Dated: May 16, 2016
LRQA Lead Verifier
On behalf of Lloyd’s Register Quality Assurance, Inc.
1330 Enclave Parkway, Suite 200,
Houston, TX 77077
LRQA reference number: RMA10189A
Table 1. Summary of Exelon Corporation, Scope 3 GHG Emissions 2015
Scope 3 Category
Fuel-and-energy-related activities (not included in Scope 1 or 2)
Tonnes CO2e
18,130,965
Waste generated in operations
14,381
Avoided Emissions from Recycling of office paper, corrugated boxes,
mixed plastics, and various scrap metal
Business Travel
126,790
Upstream leased assets
37,158
Services Provided
585,221
28,739
Use of sold products (utility electric delivered)
78,602,072
Use of sold products (utility natural gas delivered
10,360,116
This Assurance Statement is subject to the provisions of this Legal Section:
This Assurance Statement is only valid when published with the Report to which it refers. It may only be reproduced in its
entirety.
Lloyd's Register Group Limited, its affiliates and subsidiaries, including LRQA, Inc., and their respective officers, employees or
agents are, individually and collectively, referred to in this Legal Section as 'Lloyd’s Register'. Lloyd’s Register assumes no
responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or
advice in this document or howsoever provided, unless that person has signed a contract with the relevant Lloyd’s Register
entity for the provision of this information or advice and in that case any responsibility or liability is exclusively on the terms and
conditions set out in that contract.
Due to inherent limitations in any internal control, it is possible that fraud, error, or non-compliance with laws and regulations
may occur and not be detected. Further, the verification was not designed to detect all weakness or errors in internal controls
so far as they relate to the requirements set out above as the verification has not been performed continuously throughout the
period and the verification carried out on the relevant internal controls were on a test basis. Any projection of the evaluation of
control to future periods is subject to the risk that the processes may become inadequate because of changes in conditions, or
that the degree of compliance with them may deteriorate.
The English version of this Assurance Statement is the only valid version. Lloyd’s Register assumes no responsibility for
versions translated into other languages. In the case of any conflict between the English and any other language versions of
this Legal Section, the English version shall prevail.
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