NEWARK, N.J., Nov. 23, 2021 /PRNewswire/ -- Public Service
Enterprise Group has been named to the Dow Jones Sustainability
Index for North America for the
14th consecutive year – recognizing PSEG's commitment to
sustainable and ethical practices and long track record of
achievement across environmental, social and governance (ESG)
criteria.
The DJSI recognizes forward-thinking companies based on an
appraisal of the company's strategy, management and performance in
dealing with opportunities and risks deriving from ESG factors. The
DJSI tracks the performance of the 600 largest U.S. and Canadian
companies in the S&P Global Broad Market Index and acknowledges
the top 20% that lead the field in terms of
sustainability.
"The Dow Jones Sustainability Index recognizes companies that
succeed in ESG, understanding that ESG is critical to building
businesses that are sustainable for the next 100 years," said PSEG
Chairman, President and CEO Ralph
Izzo, who was one of only three U.S. utility CEOs to attend
the recent COP26 climate conference
in Glasgow, Scotland, where he
shared PSEG's approach to clean energy and sustainable operations.
"Sustainability is central to PSEG's purpose of providing safe,
reliable and essential energy services to our customers, but it's
about more than products and services. Sustainability encompasses
how we have helped our employees navigate the COVID-19 pandemic,
providing resources and flexibility so that no one is left behind.
It's also reflected in how we care for our communities, by funding
efforts to support education and workforce development and to
address racial injustice."
"These actions are not 'extras,' but rather the realization of
our strategy to support the long-term interests of our business,
our people and our communities," Izzo said.
Highlights of PSEG's commitment to ESG include the
following.
Environmental
PSEG's ongoing environmental efforts include investing in and
providing zero-carbon energy through our support of nuclear and the
development of offshore wind, continuing to divest from fossil fuel
generation, reducing methane emissions from utility operations, and
making our infrastructure more resilient against extreme
weather.
Our commitments and achievements also include:
- Our vision for net-zero carbon emissions (Scopes 1 and 2) by
2030.
- Our commitment to setting science-based targets for emissions
reductions (Scopes 1, 2 and 3) and membership in Business Ambition
for 1.5°C and U.N. Race to Zero campaigns.
- Our $1 billion expansion of
PSE&G's energy efficiency programs to help customers save
energy and save money, help improve air quality and public health
by reducing New Jersey's carbon
footprint, and create 4,000+ clean energy jobs.
- Our ongoing support for nuclear generation, which provides 90%
of New Jersey's zero-carbon
energy.
- Investment and support of New
Jersey's offshore wind goals including investing in
New Jersey's first offshore wind
project, Ocean Wind 1, submitting several innovative proposals to
deliver reliable, resilient and cost-effective infrastructure for
New Jersey's offshore wind
transmission, signing 78-year lease with state of New Jersey for development of New Jersey Wind
Port.
Social
PSEG advances social good and diversity, equity and inclusion
through initiatives that ensure all employees are heard and valued,
having access to the benefits and opportunities the company offers,
and throughout our communities by fostering access to fair and
equitable opportunities.
Our commitments and achievements also include:
- Committed to supplier diversity with a goal of achieving 30%
spending allocated to diverse suppliers by 2023.
- PSEG's Human Rights policy in effect since 2018; PSEG also is
committed to respecting and supporting LGBTQ+ inclusion.
- We have engaged in focused and sustained development for our
managers to build and enhance inclusive leadership skills,
including daily learnings, trainings, peer working groups, and
skill building experiences.
- Established immersive talent development program to increase
representation of people of color in leadership.
- Continued support for our employees and our communities and
help achieving our companywide volunteering goal of 33% of
employees: we continue our policy of 8 hours of paid time off to
volunteer each year.
- Named to Forbes' 2021 list of Best Employers for Diversity;
named 2021 Best Companies for Multicultural Women by Seramount;
named 2021 Best Companies for Veterans by Forbes; named Top 100
U.S. Companies Supporting Healthy Families and Communities by Just
Capital.
Governance
PSEG has a long track record of effective governance structure
and practices. PSEG's Corporate Governance committee exercises
oversight over sustainability matters including climate change. Our
board of directors maintains oversight of risk management, ethics
and compliance, internal audit and cybersecurity matters.
Our achievements also include:
- Four new directors since 2018, demonstrating good levels of
board refreshment; PSEG's board includes three women and three
members of color, demonstrating board diversity.
- Published seven years of Sustainability Reports, an ESG
performance report, and our second Climate Report; in 2021
published our first combined Sustainability and Climate
Report.
- Enhanced disclosure in the PSEG proxy statement across ESG
topics.
"Our inclusion on the Dow Jones Sustainability Index – now for
14 years and running – is a reflection of our commitment to having
a positive impact on the world around us," Izzo said. "PSEG is
proud to have sustainability and ESG woven into the very fabric of
who we are and how we do business."
Additional ESG information can be found throughout PSEG's
website and via:
- PSEG 2021 Sustainability and Climate Report
- PSEG ESG Disclosures
- PSEG ESG Perspectives (video)
The DJSI assessment is conducted each year by sustainability
investment specialist RobecoSAM. It is based on a comprehensive
review of environmental performance, innovation management,
corporate governance, risk management, stakeholder engagement and
talent attraction and retention.
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 14 consecutive years
(https://corporate.pseg.com).
Visit PSEG at:
www.pseg.com
PSEG on
Facebook
PSEG on Twitter
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
Investor Relations website to review new postings. You can
sign up for automatic email alerts regarding new postings at the
bottom of the webpage at
https://investor.pseg.com.
CONTACTS:
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Investor
Relations
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Media
Relations
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Carlotta
Chan
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Marijke
Shugrue
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973-430-6565
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908-531-4253
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Carlotta.Chan@pseg.com
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Marijke.Shugrue@pseg.com
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SOURCE PSEG