SAN DIEGO, May 20, 2020 /PRNewswire/ -- Sempra Energy (NYSE:
SRE) today released its 12th corporate sustainability
report, "Shaping the Future," outlining goals and key performance
indicators across four broad categories: world-class safety,
workforce engagement, operational resiliency and the energy
transition.
"Our mission-focused, values-led approach enables the Sempra
Energy family of companies to safely deliver reliable energy to
over 35 million consumers across North
America, including hospitals, first-responder facilities,
home offices and essential businesses during this pandemic," said
Jeffrey W. Martin, chairman and
chief executive officer of Sempra Energy. "As discussed during our
Investor Day, we are focused on managing the risks and
opportunities that improve business resiliency and sustainable
growth. Our high-performance culture is key, because it helps us
adapt and focus on the right things, as our 18,000 employees work
to improve the lives of our customers by delivering energy with
purpose every day."
Through its family of companies, Sempra Energy operates new,
smart energy infrastructure that connects residential and business
consumers alike to lower-carbon choices for their energy supply.
With a mission that is focused on building North America's premier energy infrastructure
company, Sempra Energy is focused on key growth markets in
California, Texas, Mexico
and global LNG export markets. The company's operations are largely
concentrated in energy transmission and distribution, a section of
the energy value chain that the company believes limits commodity
exposure and provides attractive risk-adjusted returns. To advance
its strategy, Sempra Energy is focused on measurable improvements
in safety, employee development, operations and the energy
transition.
The company's sustainability approach is rooted in extensive
stakeholder dialogue and deep enterprise-wide alignment around
ambitious goals, all championed at the highest levels of the
organization. This commitment to sustainability is why Sempra
Energy is recognized as an industry leader, earning numerous
recognitions, including being named to the Dow Jones Sustainability
World Index the past two years, the only North American utility to
earn that honor.
Sempra Energy's corporate sustainability report includes review
and reporting of various topics, including safety performance,
employee engagement and several goals related to the energy
transition. The report is aligned with the Global Reporting
Initiative (GRI), the Sustainability Accounting Standards Board
(SASB) and the Task Force on Climate-related Financial Disclosures
(TCFD) disclosure frameworks.
Read Sempra Energy's full 2019 corporate sustainability report
at sempra.com/sustainability.
About Sempra Energy
Sempra Energy's mission is to
be North America's premier energy infrastructure company.
With more than $60 billion in total assets in 2019,
the San Diego-based company is the utility holding company
with the largest U.S. customer base. The Sempra Energy companies'
more than 18,000 employees deliver energy with purpose to over 35
million consumers worldwide. The company is focused on the most
attractive markets in North America,
including California, Texas, Mexico and the LNG
export market. Sempra Energy has been consistently recognized for
its leadership in sustainability, and diversity and inclusion, and
is a member of the S&P 500 Utilities Index and the Dow Jones
Utility Index. The company was also named one of the "World's Most
Admired Companies" for 2020 by Fortune Magazine.
This press release contains statements that are not
historical fact and 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 of performance. Future results may differ materially
from those expressed in the 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," "target," "pursue," "outlook," "maintain,"
or similar expressions, or when we discuss our guidance, strategy,
goals, vision, mission, opportunities, projections or
intentions.
Factors, among others, that could cause our actual results
and future actions to differ materially from those described in any
forward-looking statements include risks and uncertainties relating
to: California wildfires and the
risk that we may be found liable for damages regardless of fault
and the risk that we may not be able to recover any such costs from
insurance, the wildfire fund established by California Assembly
Bill 1054 or in rates from customers; decisions, investigations,
regulations, issuances of permits and other authorizations, renewal
of franchises, and other actions by the Comisión Federal de
Electricidad, California Public Utilities Commission, U.S.
Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and
jurisdictions in the U.S. and other countries in which we operate;
the success of business development efforts, construction projects
and major acquisitions and divestitures, including risks in (i) the
ability to make a final investment decision and completing
construction projects on schedule and budget, (ii) obtaining the
consent of partners, (iii) counterparties' financial or other
ability to fulfill contractual commitments, (iv) the ability to
complete contemplated acquisitions and/or divestitures, and (v) the
ability to realize anticipated benefits from any of these efforts
once completed; the impact of the COVID-19 pandemic on our (i)
ability to commence and complete capital and other projects and
obtain regulatory approvals, (ii) supply chain and current and
prospective counterparties, contractors, customers, employees and
partners, (iii) liquidity, resulting from bill payment challenges
experienced by our customers, decreased stability and accessibility
of the capital markets and other factors, and (iv) ability to
sustain operations and satisfy compliance requirements due to
social distancing measures or if employee absenteeism were to
increase significantly; the resolution of civil and criminal
litigation, regulatory investigations and proceedings, and
arbitrations; actions by credit rating agencies to downgrade our
credit ratings or to place those ratings on negative outlook and
our ability to borrow at favorable interest rates; moves to reduce
or eliminate reliance on natural gas and the impact of the extreme
volatility and unprecedented decline of oil prices on our
businesses and development projects; weather, natural disasters,
accidents, equipment failures, computer system outages and other
events that disrupt our operations, damage our facilities and
systems, cause the release of harmful materials, cause fires and
subject us to liability for property damage or personal injuries,
fines and penalties, some of which may not be covered by insurance
(including costs in excess of applicable policy limits), 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,
limitations on the withdrawal or injection of natural gas from or
into storage facilities, and equipment failures; cybersecurity
threats to the energy grid, storage and pipeline infrastructure,
the information and systems used to operate our businesses, and the
confidentiality of our proprietary information and the personal
information of our customers and employees; expropriation of
assets, the failure of foreign governments and state-owned entities
to honor the terms of 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
power generation and from departing retail load resulting from
customers transferring to Direct Access, Community Choice
Aggregation or other forms of distributed power generation 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, interest and inflation
rates and commodity prices and our ability to effectively hedge the
risk of such volatility; changes in trade policies, laws and
regulations, including tariffs and revisions to or replacement of
international trade agreements, such as the North American Free
Trade Agreement, that may increase our costs or impair our ability
to resolve trade disputes; the impact of changes to federal and
state tax laws and our ability to mitigate adverse impacts; 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 Energy 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 the company's website, www.sempra.com. Investors should not rely
unduly on any forward-looking statements.
Sempra South American Utilities, 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 Southern
California Gas Company, and Sempra South American Utilities, Sempra
North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra
Texas Utilities, Oncor and IEnova are not regulated by the
California Public Utilities Commission.
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SOURCE Sempra Energy