Keith

Trent of Duke Energy Documented@Davos Transcript Documented@Davos 2012 RANDI ZUCKERBERG: Thanks for tuning into our Documented@Davos coverage. We're here at the World Economic Forum. My name is Randi Zuckerberg, and I'm very excited to be sitting here with Keith Trent from Duke Energy. Thank you so much for joining. KEITH TRENT: Well, thank you for having me. It's my honor. RANDI ZUCKERBERG: And this is your first Davos, I understand. KEITH TRENT: It is my first Davos. Hopefully not my last, because it's beautiful here. RANDI ZUCKERBERG: And how are faring with all of the snow? KEITH TRENT: Well, we're getting along just fine. Today is easier, because it's melting right now. So doing OK. RANDI ZUCKERBERG: People often talk about having had a Davos moment or an experience. Have you had one of those yet? KEITH TRENT: Well, I would want to reserve until the end, because I've got a few more days. But one of the themes I'm starting to hear is we have so many issues, so many problems, but most of the solutions are probably local, as opposed to national or international. So finding ways where we can tap into the local solutions is perhaps-- I don't know if it's a big moment, but for me, it was sort of a theme I'm hearing. RANDI ZUCKERBERG: What your company is doing is very central to a lot of the themes being discussed here. You talk about purpose-driven and value-driven capitalism. What does that mean? KEITH TRENT: Well, for us it means realizing that what's good for our company is not just the bottom line but actually focusing on what's good for our communities. So we do that in a couple of ways. One is we're trying to encourage our customers to be the most productive users of energy in the world. And what I mean by that is to use less energy. RANDI ZUCKERBERG: So you're actually encouraging people to use less of your product. KEITH TRENT: That's exactly right, which is kind of a funny thing. You don't really hear Nike saying, go barefooted, right? But that's what we're sort of trying to do. And one of the things, though, that we think that makes sense is it will make our

businesses stronger and will attract other businesses to our areas and our communities. That will strengthen the communities and strengthen our company. So it's having values that help our communities but help us as well. RANDI ZUCKERBERG: Are you seeing like-minded companies here? I know you mentioned that you sat in on a panel where something similar was being discussed. KEITH TRENT: Yeah, we just came from a panel with Mike Porter, who's Harvard Business School. He's also talking about these same sorts of things. And we recognize that businesses really have lost trust in our communities. So we need to rebuild that trust. And it needs to be a very focused thing. So Harvard is studying it. They are gathering other companies to talk about this. So hopefully it will create some momentum. RANDI ZUCKERBERG: Clean energy is also top of mind for a lot of people here at the World Economic Forum. I imagine you're doing quite a bit on that front. KEITH TRENT: Well, we are. By the end of this year, we will have invested $3 billion in solar farms and wind farms. And this year alone, we're adding 770 megawatts of new wind. So that'll double, almost, the amount of wind that we have operating. And we think that's a very important focus. But at the same time, it's a good business for us. RANDI ZUCKERBERG: It's unbelievable what you guys are doing. $3 billion in one year. KEITH TRENT: That's right. Yeah. RANDI ZUCKERBERG: I understand that Clinton is a huge supporter, and you've done a lot of work with the Clinton Global Initiative, also. KEITH TRENT: Yes, we have. And Jim Rogers has been a big champion in this area and really focusing on sustainable companies and what we can do. And clearly, President Clinton is leading that and using his influence to do tremendous things. So we're very, very pleased to be a part of that. RANDI ZUCKERBERG: So when you leave here on Sunday, what would make you think, I had a very successful week here at Davos? KEITH TRENT: I think I've already had a successful week. Hopefully, I'll get more Davos moments. I'd really like to go away with maybe 3, 5, 10 insights that are new ideas, that then we can take back and get other people excited about these ideas and help lead and change. So that's what I'm hoping for.

RANDI ZUCKERBERG: Well, it's very inspiring, what you're working on. And it's really great to sit down with someone with such a huge company and such a great social conscious also. KEITH TRENT: Well, thank you very much. And you say we're a huge company. We've been around for 100 years. We're probably about half the size of your brother's company in seven years, so we may have some lessons to learn. We'll see. RANDI ZUCKERBERG: Well, who knows? Social media can be great on the energy front too. So thank you so much, and please follow the rest of our coverage, scribd.com/documentedatdavos. Or follow our Twitter hashtag, #davosdocs.