PSEG Named to Dow Jones Sustainability Index for 11th Consecutive Year
Latest Recognition of the Company’s Environmental, Social and Governance Efforts
(Oct. 18, 2018 – Newark, N.J.) Public Service Enterprise Group’s recent inclusion on the Dow Jones Sustainability Index (DJSI) for North America for the 11th year in a row is the latest confirmation of the company’s commitment to sustainable and ethical practices. Customers, employees and investors are increasingly demanding that environmental, social and governance (ESG) factors guide how a company conducts business.
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 environmental, social and governance factors. The DJSI tracks the performance of the 600 largest U.S. and Canadian companies in the S&P Global Broad Market Index and recognizes the top 20 percent that lead the field in terms of sustainability. PSEG was one of six U.S. utility companies selected for the list.
“Our inclusion on the Dow Jones Sustainability Index list for 11 straight years validates our efforts to provide a sustainable future for the customers and communities we serve,” said Ralph Izzo, PSEG’s chairman, president and CEO. “Sustainability is at the center of PSEG’s vision and operations, driving innovation and investment as we move toward a clean energy future. This recognition reflects the dedication of PSEG’s 13,000 employees to continuously pursue more sustainable ways to provide clean, affordable and reliable energy.”
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.
PSEG’s dedication to ESG practices has been acknowledged by a range of independent organizations:
In addition to the Dow Jones Sustainability Index, PSEG was also named to the America’s Best Employers List by Forbes magazine for 2018. Forbes worked with research firm Statista to compile the definitive list of the best employers in America. Statista surveyed 30,000 American workers to gather opinions of their employers.
PSEG was included on FORTUNE’s 2017 List of Most Admired Companies, ranking 8th among electric and gas companies in the United States.
Public Service Electric & Gas Co. (PSE&G) also was named 2017 Investor Owned Utility of the Year by the Smart Electric Power Alliance for its efforts to add solar power to New Jersey’s energy mix. PSE&G was recognized for building solar farms on landfills and brownfields through its Solar 4 All program.
Moving Forward to a Sustainable Energy Future
As an example of the company’s commitment to providing sustainable energy, PSE&G recently proposed a Clean Energy Future program. The proposal includes energy efficiency, electric vehicle charging infrastructure, battery storage and smart meter initiatives. If approved as proposed, the programs are expected to reduce carbon dioxide emissions by about 40 million tons over the lifetime of the programs, equivalent to removing about 380,000 cars annually by 2025, growing to about 800,000 cars annually by 2035. The centerpiece of the proposal is a suite of energy efficiency programs, which would save enough electricity to power 5.5 million homes annually and save enough natural gas to supply 675,000 homes per year.
To better serve its customers and investors, PSEG will be incorporating the Edison Electric Institute’s (EEI) Version 1 environmental, social, governance and sustainability-related (ESG/sustainability) reporting template into its annual ESG reporting. This is part of an ongoing EEI-led initiative to help provide the financial community with more uniform and consistent ESG/sustainability data and information. EEI launched a pilot ESG/sustainability reporting template in December 2017.
PSEG’s 2017 data can be found here: https://investor.pseg.com/pseg-esg-disclosures
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Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of $9.1 billion and approximately 13,000 employees. Headquartered in Newark, N.J., PSEG's principal operating subsidiaries are: Public Service Electric and Gas Company (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 11 consecutive years. (www.pseg.com).
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 its 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.
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