NEWARK, N.J., Nov. 5, 2021 /PRNewswire/ -- PSEG Chairman,
President and CEO Ralph Izzo is
traveling to Glasgow, Scotland, to
attend the 26th Conference of the Parties to the United Nations
Framework Convention on Climate Change (COP26), where he will call for urgent action to
address climate change.
"With more than 9 million residents, New Jersey is similar in size to many of the
nations represented at COP26, and
getting hit by the climate crisis means we need to take immediate
action not only to address the causes of climate change, but also
to reduce and reverse its long-term impacts," said Izzo, one of
only three U.S. utility CEOs attending COP26. "New
Jersey's rapid progress toward its clean energy and climate
goals provides a role model for the rest of the U.S. and the
world."
In Glasgow, Izzo is scheduled
to meet with world government and industry leaders, including
representatives of the global and U.S. power and utility sectors,
to drive home the urgent need to establish aggressive goals for
reducing carbon emissions – and then returning home to turn those
goals into concrete actions.
"COP26 provides an extraordinary
opportunity – at a pivotal moment in the climate change crisis –
for government and business to work together to solve our greatest
climate challenges while also strengthening economies and
communities," Izzo said. "The transition to cleaner and more
resilient energy resources needs to continue, and faster than it is
today. Working together, utilities and other businesses can make
progress to decarbonize the economy, while governments can set
policies that accelerate the scale and pace of change. This
transition presents enormous opportunities for business, and
creates lasting benefits for people, economies and the
climate."
"We have all the tools to decarbonize our economies, and now we
need the collective will," Izzo said. "At PSEG, we've promoted a
five-point outline – a list of actions we need to undertake to
mitigate the most damaging impacts of our changing climate. These
include: setting a price on carbon, fostering energy efficiency,
preserving existing nuclear plants, developing renewables, and
promoting economywide electrification. My aim for COP26 is that we cement that will into
action."
Some of the most aggressive decarbonization efforts in history
have been driven by energy utilities – the organizations with the
expertise and the infrastructure to tackle climate change alongside
a mission to support not only customers, but also communities and
the economy. And because the mission of utilities is universal
access to energy and all of its benefits, the solutions are
available universally – to all customers, no matter who they are,
where they live or their financial resources.
The clean energy transition also must advance equity:
"Climate change often hurts communities that have fewer
resources and less support to prepare and recover from extreme
weather events," Izzo said. "As government and industry invest in
infrastructure and strengthen resiliency, all must act to protect
communities and address inequities."
Climate change and the transition to a low-carbon economy
present opportunities and risks for PSEG. PSEG's recent combined
2021 Sustainability and Climate Report dives into the potential
physical and transitional risks of climate change to help PSEG
better plan and prepare for the changes ahead, including actions
taken to achieve the company's recently announced net-zero climate
vision for 2030.
PSEG is an infrastructure company focused on a clean energy
future, powered by a diverse, dedicated and highly skilled
workforce. PSEG's Powering Progress vision continues to
be for a future in which people use less energy, and that energy is
cleaner and delivered more reliably than ever. PSEG's commitment to
ESG and sustainability is reflected in our net-zero 2030 climate
vision, our participation in the U.N. Race to Zero campaign and our
business strategies aligned with the U.N.'s Sustainable Development
Goals
Public Service Enterprise Group Inc. (PSEG) (NYSE: PEG) is a
publicly traded diversified energy company with approximately
13,000 employees. Headquartered in Newark, N.J., PSEG's principal operating
subsidiaries are: Public Service Electric and Gas Co. (PSE&G),
PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company
included in the S&P 500 Index and has been named to the Dow
Jones Sustainability Index for North
America for 13 consecutive years.
(https://corporate.pseg.com).
Visit PSEG
at:
www.pseg.com
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PSEG on LinkedIn
PSEG Energize!
Forward-Looking Statement
The statements contained in this press release that are not
purely historical are "forward-looking statements" within the
meaning of The Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and
uncertainties, which could cause actual results to differ
materially from those anticipated. Such statements are based on
management's beliefs as well as assumptions made by and information
currently available to management. Factors that may cause actual
results to differ materially from those contemplated in any
forward-looking statements made by us herein are discussed in our
Annual Report on Form 10-K and subsequent reports on Form 10-Q and
Form 8-K filed with the Securities and Exchange Commission (SEC),
and available on our website: https://investor.pseg.com. All of the
forward-looking statements made in this press release are qualified
by these cautionary statements and we cannot assure you that the
results or developments anticipated by management will be realized
or even if realized, will have the expected consequences to, or
effects on, us or our business, prospects, financial condition,
results of operations or cash flows. Readers are cautioned not to
place undue reliance on these forward-looking statements in making
any investment decision. Forward-looking statements made in this
press release apply only as of the date hereof. While we may elect
to update forward-looking statements from time to time, we
specifically disclaim any obligation to do so, even in light of new
information or future events, unless otherwise required by
applicable securities laws.
From time to time, PSEG, PSE&G and PSEG Power release
important information via postings on their corporate Investor
Relations website at https://investor.pseg.com.
Investors and other interested parties are encouraged to visit the
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sign up for automatic email alerts regarding new postings at the
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CONTACTS:
|
|
Investor
Relations
|
Media
Relations
|
Carlotta
Chan
|
Marijke
Shugrue
|
973-430-6565
|
908-531-4253
|
Carlotta.Chan@pseg.com
|
Marijke.Shugrue@pseg.com
|
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