The company's investments to improve its transmission and distribution systems alone are creating 6,000 jobs a year, for 10 years. PSEG also scored well in the rankings for its record of being free from scandal and legal controversy and its advanced corporate governance practices. Additionally, Forbes also cited the company for scoring well on several measures that evaluate health and retirement benefits, including one of the highest ranking 401k plans in the industry.
"We're honored to be included in this inaugural list of 100 socially responsible businesses," said Ralph Izzo, PSEG's Chairman, President and CEO. "It is proof to our commitment to balance the demands of our customers and society as a whole with the needs of our employees and shareholders, and a testament to the good work of our 13,000 employees."
The new JUST 100 List of America's Best Corporate Citizens, is a collaboration between Forbes and Paul Tudor Jones' JUST Capital to identify the companies in each industry that excel at serving all stakeholders, beyond just the bottom line. The rankings detail the performance, on an industry-relative basis, of the largest 897 publicly-traded companies in the U.S. It ranked companies according to ten metrics: worker pay and benefits, worker treatment, supply chain impact, community well-being, domestic job creation, product attributes, customer treatment, leadership and ethics, environmental impact and investor alignment.
"The JUST 100 celebrates the best of American business," said Martin Whittaker, CEO of JUST Capital. "These amazing companies show that in America today the best companies do right by all their stakeholders – and by listening to the voice of the American people. We salute all of the JUST 100 companies and look forward to working with them to help more companies understand that JUST behavior and commercial success can go hand-in-hand."
"The JUST 100 List is the most authoritative, unbiased source of data about how corporations perform on the things people in the U.S. care about most. The list combines powerful insights into how Americans feel about corporate behavior with an unprecedented view of how our leading corporations stack up," said Forbes editor Randall Lane. "We're thrilled to partner with JUST Capital in recognizing the companies that are leading the way in exhibiting JUST corporate behavior."
PSEG was one of three New Jersey-headquartered companies included on the list along with Johnson & Johnson and Verisk Analytics. PSEG was one of three utilities recognized on the JUST 100, along with Exelon and Dominion Resources.
This is the latest accolade PSEG has received. It has made the Dow Jones Sustainability List, which recognizes forward-looking companies, for nine consecutive years. The company recently received the "Extraordinary Good Works" award from the Commerce and Industry Association of New Jersey for its commitment to veterans, support of STEM education and employee volunteer programs. Its New Jersey utility, PSE&G, was recently named the most reliable utility in the Mid-Atlantic region for the 15th year in a row by PA Consulting. For the 2nd consecutive year, PSE&G has been named a Residential Customer Champion by Cogent reports, a division of Market Strategies International (MSI).
For the complete list and more information about the JUST 100 ranking, visit: www.forbes.com/just100
Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of $10.4 billion. Its operating subsidiaries are: Public Service Electric and Gas Company (PSE&G), PSEG Power, and PSEG Long Island.
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About JUST Capital
The JUST Capital Foundation (justcapital.com) is an independent nonprofit 501(c)(3), founded in 2013, that is establishing the definitive source of information and rankings on how large publicly traded corporations measure up against the American people's definition of JUST business behavior. The organization's mission is to leverage the power of the markets to drive positive change on the issues Americans care most about. Chaired and co-founded by Paul Tudor Jones II, and led by a staff with a breadth of finance, social sector, and technology experience, the Foundation's board includes Ray Chambers, Jeff Walker, Marc Morial, Ann Veneman, Dan Hesse, Deepak Chopra, and Arianna Huffington, amongst others.
About Forbes Media
Forbes Media is a global media, branding and technology company, with a focus on news and information about business, investing, technology, entrepreneurship, leadership and affluent lifestyles. The company publishes Forbes, Forbes Asia, and Forbes Europe magazines as well as Forbes.com. The Forbes brand today reaches 98 million people worldwide with its business message each month through its magazines and 37 licensed local editions around the globe, Forbes.com, TV, conferences, research and social and mobile platforms. Forbes Media's brand extensions include conferences, real estate, education, financial services and technology license agreements.
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