PSEG Named To Dow Jones Sustainability Index For 12th Consecutive Year
Continues to Lead on Climate and Clean Energy Initiatives
NEWARK, N.J. – Sept. 23, 2019 – Public Service Enterprise Group's inclusion on the Dow Jones Sustainability Index (DJSI) for North America for the 12th year in a row is the latest recognition of the company's ongoing and longtime commitment to sustainable and ethical practices. PSEG was one of seven U.S. utility companies selected for the list.
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 acknowledges the top 20 percent that lead the field in terms of sustainability.
"Sustainability is core to PSEG's strategy and Powering Progress vision for a clean energy future," said Ralph Izzo, PSEG's chairman, president and CEO. "Our inclusion on the Dow Jones Sustainability Index list for 12 years in a row is further validation of our efforts to provide a sustainable future for the customers and communities we serve. This acknowledgment supports what we at PSEG see every day – our long track record of continued success in addressing climate change."
Highlights of PSEG's sustainability leadership actions include:
Since 2009, PSE&G's energy efficiency efforts have saved enough electricity and natural gas annually to avoid nearly 200,000 metric tons of CO2 and 165 metric tons of NOx from being emitted into the environment.
In 2009, PSEG established a goal of reducing company-wide GHG emissions by 25% from 2005 levels by 2025. PSEG met this goal 14 years ahead of schedule.
PSEG's nuclear plants supply more than 90% of the state's carbon emissions-free power.
In 2019, PSEG announced plans to reduce its power generation fleet's carbon emissions by 80% by 2046, from 2005 levels, with a vision of net-zero by 2050. PSEG's carbon emissions rate already is below the International Energy Agency's 2030 projected emission rate for the U.S. electric sector.
In 2019, PSEG again made the Forbes list of America's Best Employers for Diversity.
For more on PSEG's Powering Progress vision, including details on its initiatives to foster clean energy and its vision of achieving net-zero carbon emissions from our power generation fleet by 2050, please visit: PSEG.com/PoweringProgress.
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, which can be found at https://investor.pseg.com/pseg-esg-disclosures.
About PSEG
Public Service Enterprise Group Incorporated (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 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 12 consecutive years.
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 website at https://investor.pseg.com. Investors and other interested parties are encouraged to visit the corporate website to review new postings. The "Email Alerts" link at https://investor.pseg.com may be used to enroll to receive automatic email alerts and/or Really Simple Syndication (RSS) feeds regarding new postings.
Marijke Shugrue