PSEG Continues its Track Record of Recognition
for Excellence in ESG
NEWARK,
N.J., Dec. 21, 2022 /PRNewswire/ -- Public
Service Enterprise Group (PSEG) has been named to both the Dow
Jones Sustainability Index (DJSI) and Newsweek's America's Most
Responsible Companies 2023 list. These prestigious recognitions
further demonstrate PSEG's ongoing commitment to sustainable and
ethical practices and action across environmental, social and
governance (ESG) criteria.
"At PSEG, we know that smart investments in sustainability and
our workforce are good for our customers, our communities and our
company," said Ralph LaRossa,
President and CEO of PSEG. "With our inclusion in both the Dow
Jones Sustainability Index and Newsweek as one of America's Most
Responsible Companies, we're honored that our commitment to ESG
continues to be recognized."
PSEG has been named to the Dow Jones Sustainability Index for
North America for the 15th
consecutive year. 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, based on a comprehensive review of environmental
performance, innovation management, corporate governance, risk
management, stakeholder engagement and talent attraction and
retention. The DJSI 2022 announcement is available online.
Presented by Newsweek and Statista Inc., America's Most
Responsible Companies were selected based on publicly available key
performance indicators (KPIs) derived from CSR Reports,
Sustainability Reports, and other reports as well as an independent
survey.
Highlights of PSEG's commitment to ESG include the
following.
Environmental
PSEG's ongoing environmental efforts include:
- Our vision for net-zero carbon emissions (Scopes 1 and 2) by
2030.
- Our $1 billion expansion of
PSE&G's energy efficiency programs to help customers reduce
energy usage and save money, which should help improve air quality
and public health by reducing New
Jersey's carbon footprint, and create 4,000+ clean energy
jobs.
Social
PSEG strives to advance social good and diversity, equity and
inclusion including:
- Committment to supplier diversity, achieving our goal of 30%
spending allocated to diverse suppliers two years ahead of
schedule.
- A commitment to awareness of LGBTQ+ concerns with an employee
campaign called "Acceptance for All. Respect for All. Inclusion for
All." This includes PSEG's LGBTQ+ Inclusion Pledge, a resource
guide to equip managers and teams with the policies, language and
direction to help them support transgender colleagues, and an
opportunity for all employees to select their gender, sexual
orientation, and preferred pronouns.
- Support for women in the workplace with our Women in Skilled
Trades Initiative and Inclusive Workspace for Women Program, which
includes enhanced recruiting efforts to bring women into PSEG's
skilled trades roles, a buddy program to provide support to all
union women new hires into these roles, and the elimination of
interview requirements for certain entry level roles where
pre-employment testing is sufficient to evaluate a candidate's
qualification for a role.
- Strong partnerships with Historically Black Colleges &
Universities (HBCU) and Hispanic-Serving Institutions (HSI) to
recruit diverse talent. In 2022, we launched a pilot externship
program intended to bring first-year students from HBCUs into the
PSEG talent pipeline. In 2023, PSEG will extend its pilot
externship program broadly to HSIs and first-year HSI students.
Additional work with HSIs includes our longtime relationship with
Montclair State University in the form
of grants, recruitment, and the PSEG Institute for Sustainable
Studies.
- Moved from a half-day to a full day off in recognition of
Juneteenth commemorating the ending of slavery in the U.S.
- Leadership development and enhanced talent and succession
processes focused on identifying diverse talent pools and diverse
high-potential candidates in the workforce.
Governance
Our commitments in governance include:
- Since 2018, added six new directors and retired five directors,
demonstrating good levels of board refreshment.
- Four women and three members of color on PSEG's board,
demonstrating board diversity.
- Enhanced disclosure in the PSEG proxy statement across ESG
topics.
About PSEG
Public Service Enterprise Group (PSEG) (NYSE: PEG) is a
predominantly regulated infrastructure company focused on a clean
energy future. Guided by its Powering Progress vision, PSEG aims to
power a future where people use less energy, and it's cleaner,
safer and delivered more reliably than ever. PSEG's commitment to
ESG and sustainability is demonstrated in our net-zero 2030 climate
vision and participation in the U.N. Race to Zero, as well as our
inclusion on the Dow Jones Sustainability North America Index, the
Bloomberg Gender-Equality Index and the list of America's most JUST
Companies. PSEG's businesses include Public Service Electric and
Gas Co. (PSE&G), PSEG Power and PSEG Long Island.
(https://corporate.pseg.com).
Forward-Looking Statements
Certain of the matters discussed in this communication about our
and our subsidiaries' future performance, including, without
limitation, future revenues, earnings, strategies, prospects,
consequences and all other statements that are not purely
historical constitute "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. When used herein, the words
"anticipate," "intend," "estimate," "believe," "expect," "plan,"
"should," "hypothetical," "potential," "forecast," "project,"
variations of such words and similar expressions are intended to
identify forward-looking statements. Factors that may cause actual
results to differ are often presented with the forward-looking
statements themselves. Other factors that could cause actual
results to differ materially from those contemplated in any
forward-looking statements made by us herein are discussed in our
reports on Form 10-K, Form 10-Q and Form 8-K. These factors
include, but are not limited to:
- any inability to successfully develop, obtain regulatory
approval for, or construct transmission and distribution, and solar
and wind generation projects;
- the physical, financial and transition risks related to climate
change, including risks relating to potentially increased
legislative and regulatory burdens, changing customer preferences
and lawsuits;
- any equipment failures, accidents, critical operating
technology or business system failures, severe weather events, acts
of war, terrorism, sabotage, cyberattack or other incidents,
including pandemics such as the ongoing coronavirus pandemic, that
may impact our ability to provide safe and reliable service to our
customers;
- any inability to recover the carrying amount of our long-lived
assets;
- disruptions or cost increases in our supply chain, including
labor shortages
- any inability to maintain sufficient liquidity or access
sufficient capital on commercially reasonable terms;
- the impact of cybersecurity attacks or intrusions or other
disruptions to our information technology, operational or other
systems;
- the impact of the ongoing coronavirus pandemic;
- failure to attract and retain a qualified workforce;
- inflation, including increases in the costs of equipment,
materials, fuel and labor;
- the impact of our covenants in our debt instruments on our
business
- adverse performance of our nuclear decommissioning and defined
benefit plan trust fund investments and changes in funding
requirements
- the failure to complete, or delays in completing, the Ocean
Wind offshore wind project and the failure to realize the
anticipated strategic and financial benefits of this project;
- fluctuations in wholesale power and natural gas markets,
including the potential impacts on the economic viability of our
generation units;
- our ability to obtain adequate fuel supply;
- market risks impacting the operation of our generating
stations;
- changes in technology related to energy generation,
distribution and consumption and changes in customer usage
patterns;
- third-party credit risk relating to our sale of generation
output and purchase of fuel;
- any inability of PSEG Power to meet its commitments under
forward sale obligations;
- reliance on transmission facilities to maintain adequate
transmission capacity for our power generation fleet;
- the impact of changes in state and federal legislation and
regulations on our business, including PSE&G's ability to
recover costs and earn returns on authorized investments;
- PSE&G's proposed investment programs may not be fully
approved by regulators and its capital investment may be lower than
planned;
- the absence of a long-term legislative or other solution for
our New Jersey nuclear plants that
sufficiently values them for their carbon-free, fuel diversity and
resilience attributes, or the impact of the current or subsequent
payments for such attributes being materially adversely modified
through legal proceedings;
- adverse changes in and non-compliance with energy industry
laws, policies, regulations and standards, including market
structures and transmission planning and transmission returns;
- risks associated with our ownership and operation of nuclear
facilities, including increased nuclear fuel storage costs,
regulatory risks, such as compliance with the Atomic Energy Act and
trade control, environmental and other regulations, as well as
financial, environmental and health and safety risks;
- changes in federal and state environmental laws and regulations
and enforcement;
- delays in receipt of, or an inability to receive, necessary
licenses and permits; and
- changes in tax laws and regulations.
All of the forward-looking statements made in this communication
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 communication 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 and PSE&G 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 or navigating to the Email
Alerts webpage here.
Investor Relations
Carlotta Chan
973-430-6565
Carlotta.Chan@pseg.com
Media Relations
Marijke Shugrue
908-531-4253
Marijke.Shugrue@pseg.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pseg-named-to-dow-jones-sustainability-index-for-15th-consecutive-year-and-to-newsweeks-americas-most-responsible-companies-2023-list-301708133.html
SOURCE PSEG