SAN DIEGO, Aug. 5, 2021 /PRNewswire/ -- Sempra (NYSE: SRE)
(BMV: SRE) today published its Sustainable Financing Framework,
outlining its criteria and other parameters for any issuances by
Sempra, San Diego Gas & Electric Co. (SDG&E) or Southern
California Gas Co. (SoCalGas) of sustainable financing instruments,
including its intent to allocate net proceeds to finance projects
aligned with the company's environmental, social and governance
(ESG) strategy and as specifically described in the framework.
Eligible projects include investments in the following categories:
clean transportation, climate change adaptation, energy efficiency,
clean energy solutions, green buildings, pollution prevention and
control, and socio-economic advancement and empowerment.
"At Sempra, we are excited about our role in advancing clean,
safe and resilient energy systems for today, and for the future,"
said Lisa Alexander, senior vice
president of corporate affairs and chief sustainability officer for
Sempra. "Across our companies, we are working to capture new
opportunities to grow our transmission and distribution business
for the betterment of all our stakeholders, with a focus on
investments in safety, as well as decarbonization, diversification
and digitalization of our energy systems. Our new Sustainable
Financing Framework furthers our commitment to meet the evolving
needs of our investors, customers and communities."
Sempra received a second-party opinion from Vigeo Eris (V.E), an
independent global provider of ESG research and ratings, for its
Sustainable Financing Framework highlighting that it is in
alignment with the four components of the 2021 Green Bond
Principles and the 2021 Social Bond Principles.
Shaping a Net-Zero Future
The launch of Sempra's
Sustainable Financing Framework builds upon the company's
commitment to creating long-term, sustainable value for
shareholders and other stakeholders.
Sempra is advancing the energy transition by enabling the
delivery of lower-carbon energy in every market it serves. For two
decades, Sempra has been on a sustained path to decarbonize its
business operations and the markets it serves with a goal of
transitioning to net-zero greenhouse gas (GHG) emissions. Earlier
this year, Sempra set a target to reach net-zero GHG emissions
across all three scopes by 2050, with an interim target of 50%
reduction in its California
utilities and Mexico (non-LNG)
scopes 1 and 2 emissions by 2030, compared to a 2019 baseline.
Sempra's California utilities,
SDG&E and SoCalGas, have also set individual net-zero goals
across all three scopes in line with California's goal to be net-zero economy-wide
by 2045. Sempra and its family of companies also have critical
goals towards achieving world-class safety, driving resilient
operations and championing people. View the 2020 Sustainability
Report for more information about the company's goals, key
performance indicators and progress.
About Sempra
Sempra's mission is to be North America's premier energy infrastructure
company. The Sempra family of companies have more than 19,000
talented employees who deliver energy with purpose to over 36
million consumers. With more than $66
billion in total assets at the end of 2020, the San Diego-based company is the owner of one of
the largest energy networks in North
America serving some of the world's leading economies. The
company is helping to advance the global energy transition by
enabling the delivery of lower-carbon energy solutions in each
market it serves, including California, Texas, Mexico
and the LNG export market. Sempra is consistently recognized as a
leader in sustainable business practices and for its long-standing
commitment to building a high-performing culture including safety,
workforce development and training, and diversity and inclusion.
Sempra is the only North American utility sector company included
on the Dow Jones Sustainability World Index and was also named one
of the "World's Most Admired Companies" for 2021 by Fortune
Magazine. For additional information about Sempra, please visit
Sempra's website at www.sempra.com and on Twitter
@SempraEnergy.
This press release contains statements that constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are based on assumptions with respect to the future,
involve risks and uncertainties, and are not guarantees. Future
results may differ materially from those expressed in any
forward-looking statements. These forward-looking statements
represent our estimates and assumptions only as of the date of this
press release. We assume no obligation to update or revise any
forward-looking statement as a result of new information, future
events or other factors.
In this press release, forward-looking statements can be
identified by words such as "believes," "expects," "anticipates,"
"plans," "estimates," "projects," "forecasts," "should," "could,"
"would," "will," "confident," "may," "can," "potential,"
"possible," "proposed," "in process," "under construction," "in
development," "target," "outlook," "maintain," "continue," "goal,"
"aim," "commit," or similar expressions, or when we discuss our
guidance, priorities, strategy, goals, vision, mission,
opportunities, projections, intentions or expectations.
Factors, among others, that could cause actual results and
events to differ materially from those described in any
forward-looking statements include risks and uncertainties relating
to: California wildfires,
including the risks that we may be found liable for damages
regardless of fault and that we may not be able to recover costs
from insurance, the wildfire fund established by California
Assembly Bill 1054 or in rates from customers; decisions,
investigations, regulations, issuances or revocations of permits
and other authorizations, renewals of franchises, and other actions
by (i) the Comisión Federal de Electricidad, California Public
Utilities Commission (CPUC), U.S. Department of Energy, U.S.
Federal Energy Regulatory Commission, Public Utility Commission of
Texas, and other regulatory and
governmental bodies and (ii) states, counties, cities and other
jurisdictions in the U.S., Mexico
and other countries in which we do business; the success of
business development efforts, construction projects and
acquisitions and divestitures, including risks in (i) the ability
to make a final investment decision, (ii) completing construction
projects or other transactions on schedule and budget, (iii) the
ability to realize anticipated benefits from any of these efforts
if completed, and (iv) obtaining the consent of partners or other
third parties; the resolution of civil and criminal litigation,
regulatory inquiries, investigations and proceedings, and
arbitrations, including, among others, those related to the natural
gas leak at Southern California Gas Company's (SoCalGas) Aliso
Canyon natural gas storage facility; actions by credit rating
agencies to downgrade our credit ratings or to place those ratings
on negative outlook and our ability to borrow on favorable terms
and meet our substantial debt service obligations; actions to
reduce or eliminate reliance on natural gas, including any
deterioration of or increased uncertainty in the political or
regulatory environment for local natural gas distribution companies
operating in California; weather,
natural disasters, pandemics, accidents, equipment failures,
explosions, acts of terrorism, information system outages or other
events that disrupt our operations, damage our facilities and
systems, cause the release of harmful materials, cause fires or
subject us to liability for property damage or personal injuries,
fines and penalties, some of which may not be covered by insurance,
may be disputed by insurers or may otherwise not be recoverable
through regulatory mechanisms or may impact our ability to obtain
satisfactory levels of affordable insurance; the availability of
electric power and natural gas and natural gas storage capacity,
including disruptions caused by failures in the transmission grid
or limitations on the withdrawal of natural gas from storage
facilities; the impact of the COVID-19 pandemic on capital
projects, regulatory approvals, and the execution of our
operations; cybersecurity threats to the energy grid, storage and
pipeline infrastructure, information and systems used to operate
our businesses, and confidentiality of our proprietary information
and personal information of our customers and employees, including
ransomware attacks on our systems and the systems of third-party
vendors and other parties with which we conduct business;
expropriation of assets, failure of foreign governments and
state-owned entities to honor their contracts, and property
disputes; the impact at San Diego Gas & Electric Company
(SDG&E) on competitive customer rates and reliability due to
the growth in distributed and local power generation, including
from departing retail load resulting from customers transferring to
Direct Access and Community Choice Aggregation, and the risk of
nonrecovery for stranded assets and contractual obligations; Oncor
Electric Delivery Company LLC's (Oncor) ability to eliminate or
reduce its quarterly dividends due to regulatory and governance
requirements and commitments, including by actions of Oncor's
independent directors or a minority member director; volatility in
foreign currency exchange, inflation and interest rates and
commodity prices and our ability to effectively hedge these risks;
changes in tax and trade policies, laws and regulations, including
tariffs and revisions to international trade agreements that may
increase our costs, reduce our competitiveness, or impair our
ability to resolve trade disputes; and other uncertainties, some of
which may be difficult to predict and are beyond our
control.
These risks and uncertainties are further discussed in the
reports that Sempra has filed with the U.S. Securities and Exchange
Commission (SEC). These reports are available through the EDGAR
system free-of-charge on the SEC's website, www.sec.gov, and on
Sempra's website, www.sempra.com. Investors should not rely unduly
on any forward-looking statements.
Sempra North American Infrastructure, Sempra LNG, Sempra
Mexico, Sempra Texas Utilities, Oncor and Infraestructura
Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies
as the California utilities,
SDG&E or SoCalGas, and Sempra North American Infrastructure,
Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova
are not regulated by the CPUC.
None of the website references in this press release are
active hyperlinks, and the information contained on, or that can be
accessed through, any such website is not, and shall not be deemed
to be, part of this document.
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SOURCE Sempra