PSEG Added to Dow Jones Sustainability Index
September 04 2008 - 1:07PM
PR Newswire (US)
NEWARK, N.J., Sept. 4 /PRNewswire-FirstCall/ -- The Dow Jones
Sustainability Indexes (DJSI) named Public Service Enterprise Group
(PSEG) (NYSE:PEG) to the Dow Jones Sustainability North America
Index (DJSI North America). PSEG was one of 125 companies named to
DJSI North America, and one of only 10 US electric companies to be
included in the index. Launched in 1999, the Dow Jones
Sustainability Indexes track the financial performance of the
leading sustainability-driven companies worldwide. The DJSI North
America comprises the leading 20% of North American companies in
terms of sustainability performance. The DJSI measures the quality
of a company's strategy and management and its performance in
dealing with opportunities and risks deriving from economic,
environmental and social developments and selects leading companies
for investment purposes. "Our membership in this prestigious index
is noteworthy," said Ralph Izzo, chairman, president and CEO of
PSEG. "I have to congratulate all the employees of PSEG for the
hard work that resulted in our inclusion in this group. PSEG is
committed to sustainability and the key ingredients that drive
long-term financial growth: operational excellence, disciplined
investment, and environmental leadership, as well as the health and
safety of our employees, customers, and the communities in which we
operate. Our inclusion in DJSI North America also reflects our
ability to respond to the key challenge facing our company, New
Jersey, and the nation: climate change." The results of the DJSI
are watched by market participants and are used by asset managers
in 16 countries to manage a variety of sustainability-driven
portfolios, such as mutual funds. Public Service Enterprise Group
is a publicly traded diversified energy company with annual
revenues of more than $12 billion, and three principal
subsidiaries: PSEG Power, Public Service Electric and Gas Company
(PSE&G) and PSEG Energy Holdings. PSEG has recently launched
several initiatives to help combat climate change including
offering $105 million in loans for solar installations in New
Jersey (to be paid back by SRECS), bidding to build a 350 megawatts
off-shore wind farm, launching Energy Storage and Power (a
compressed air energy storage business), converting its truck and
car fleet to hybrid vehicles and exploring the possibility of a new
nuclear plant to be located in South Jersey. DATASOURCE: Public
Service Enterprise Group (PSEG) CONTACT: Paul Rosengren,
+1-973-430-5911, for PSEG Web site: http://www.pseg.com/
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