PSEG Named to Dow Jones Sustainability Index for 15th Consecutive Year and to Newsweek’s 2023 List of America’s Most Responsible Companies | Daily News Byte

NEWARK, NJ / ACCESSVIRE / December 21, 2022 / Public Services Group (PSEG) has been named to both the Dow Jones Sustainability Index (DJSI) and Newsweek’s list of America’s Most Responsible Companies for 2023. These prestigious accolades further demonstrate PSEG’s ongoing commitment to sustainable and ethical practices and operating within environmental, social and governance (ESG) criteria.

“At PSEG, we know that making smart investments in sustainability and our workforce is good for our customers, our communities and our company,” said Ralph LaRosa, PSEG President and CEO. “With our inclusion in the Dow Jones Sustainability Index and Newsweek as one of America’s Most Responsible Companies, we are honored that our commitment to ESG continues to be recognized.”

For the 15th year in a row, PSEG has been included in the Dow Jones Sustainability Index for North America. DJSI recognizes forward-thinking companies based on an assessment of company strategy, management and performance in the face of opportunities and risks arising from ESG factors, based on a comprehensive review of environmental performance, innovation management, corporate governance, risk management, stakeholder engagement. and attracting and retaining talent. The DJSI 2022 announcement is available online.

Presented by Newsweek and Statista Inc., America’s Most Responsible Companies are selected based on publicly available key performance indicators (KPIs) derived from CSR reports, sustainability reports and other reports, as well as independent research.

Highlights of PSEG’s commitment to ESG include the following.

Environmental
PSEG’s ongoing environmental efforts include:

• Our vision for net zero carbon emissions (bands 1 and 2) by 2030.

• Our expansion of PSE&G’s $1 billion energy efficiency program to help customers reduce energy use and save money should help improve air quality and public health by reducing New Jersey’s carbon footprint and creating 4,000+ clean energy jobs.

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Social
PSEG seeks to advance social good and diversity, equity and inclusion including:

• Commitment to supplier diversity, achieving our goal of 30% of spend allocated to diverse suppliers two years ahead of schedule.

• Commitment to raising awareness of LGBTK+ issues with an employee campaign called “Acceptance for All. Respect for all. Inclusion for all”. This includes PSEG’s LGBTK+ Inclusion Pledge, a resource guide to equip managers and teams with policies, language and guidance to help them support transgender colleagues, and the opportunity for all employees to choose their gender, sexual orientation and preferred pronouns.

• Supporting women in the workplace with our Women in Skilled Trades Initiative and the Women’s Inclusive Workplace Program, which includes increased recruitment efforts to bring women into PSEG’s skilled trades roles, a buddy program that supports all unionized women who are new hires in these roles, and eliminating interview requirements for certain entry-level roles where pre-employment testing is sufficient to assess a candidate’s qualifications for a role.

• Strong partnerships with Historically Black Colleges and Universities (HBCUs) and Hispanic Serving Institutions (HSIs) to recruit diverse talent. In 2022, we launched a pilot externship program aimed at bringing first-year students from HBCUs into the PSEG talent pipeline. In 2023, PSEG will expand its pilot externship program broadly to HSI and HSI first-year students. Additional work with HSI includes our longstanding relationship with Montclair State University in the form of grants, employment and the PSEG Institute for Sustainable Studies.

• Moved from half day to full day to commemorate the end of slavery in the US

• Leadership development and improved talent and succession processes are focused on identifying diverse talent pools and diverse high-potential candidates in the workforce.

Management
Our management responsibilities include:

• Since 2018, six new directors have been added and five directors have retired, showing a good level of board refreshment.

• Four women and three members of color on PSEG’s board, demonstrating board diversity.

• Improved disclosure in the PSEG proxy statement on all ESG topics.

About PSEG
Public Service Enterprise Group (PSEG) (NISE:PEG) is a predominantly regulated infrastructure company focused on the future of clean energy. Guided by its vision of Powering Progress, PSEG aims to power a future where people use less energy and it is cleaner, safer and more reliably delivered than ever. PSEG’s commitment to ESG and sustainability is demonstrated in our Net Zero 2030 climate vision and participation in the UN Race to Zero, as well as our inclusion in the Dow Jones Sustainability North America Index, the Bloomberg Gender-Equality Index and the US Majority List JUST company. 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 matters discussed in this communication about our and our subsidiaries’ future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences and any other statements that are not solely historical, constitute “forward-looking statements” within 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 expectations. Such statements are based on management’s beliefs, assumptions and information currently available to management. When used herein, the words “anticipate”, “intend”, “estimate”, “believe”, “expect”, “plan”, “should”, “hypothetical”, “potential”, “anticipate”, “project” , variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ are often set forth in the forward-looking statements themselves. Other factors that could cause actual results to differ materially from those anticipated in any forward-looking statements made herein are discussed in our reports on Form 10-K, Form 10-K and Form 8- K. These factors include, but are not limited to:

• any inability to successfully develop, obtain regulatory approval or build transmission and distribution and solar and wind generation projects;

• physical, financial and transition risks related to climate change, including risks related to potentially increased legislative and regulatory burdens, changes in customer preferences and lawsuits;

• any equipment failure, accidents, critical operational technology or business system failures, severe weather events, acts of war, terrorism, sabotage, cyber attack or other incidents, including pandemics such as the ongoing coronavirus pandemic, that may affect our ability to provide safe and reliable service to our customers;

• any inability to recover the book value 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 cyber security attacks or intrusions or other disruptions to our information technology, operating or other systems;

• the impact of the ongoing coronavirus pandemic;

• failure to attract and retain skilled labor;

• inflation, including increases in the cost of equipment, materials, fuel and labor;

• the impact of our obligations under our debt instruments on our business

• adverse performance of our investments in nuclear decommissioning funds and defined benefit plans and changes in funding requirements

• failure to complete or delay in completing the Ocean Wind offshore project and failure to realize the anticipated strategic and financial benefits of this project;

• fluctuations in the wholesale electricity and natural gas markets, including potential impacts on the economic viability of our generating units;

• our ability to ensure an adequate supply of fuel;

• market risks affecting the operation of our production facilities;

• changes in technology related to energy production, distribution and consumption and changes in consumer usage patterns;

• third party credit risk related to our sales of production output and purchases of fuel;

• any inability of PSEG Power to fulfill its obligations under forward sales obligations;

• reliance on transmission facilities to maintain adequate transmission capacity for our power generation fleet;

• the impact of changes in state and federal laws and regulations on our business, including PSE&G’s ability to recover costs and realize a return on approved investments;

• PSE&G’s investment programs may not be fully approved by regulatory authorities and its capital investments may be lower than planned;

• the absence of a long-term legislative or other solution for our New Jersey nuclear power plants that sufficiently values ​​them for their carbon-free, fuel diversity and resiliency attributes, or the impact of immediate or later 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 refunds;

• 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, and financial, environmental and health and safety risks;

• changes in federal and state environmental laws and regulations and their enforcement;

• delays in receiving or inability to obtain necessary licenses and permits; and

• changes in tax laws and regulations.

All 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, that they will have the expected consequences 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 speak only as of the date of this announcement. Although we may choose to update forward-looking statements from time to time, we expressly 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 through 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 announcements. You can sign up for automatic email notifications about new posts at the bottom of the website at https://investor.pseg.com or going to a website with email notifications here.

See additional multimedia and more ESG storytelling from Public Service Enterprise Group (PSEG) at 3blmedia.com.

Contact info:
Spokesperson: Public Enterprises Group (PSEG)
Website: http://www.pseg.com
Email: info@3blmedia.com

SOURCE: Public Enterprises Group (PSEG)

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