PSEG Again Recognized as Sustainability Leader Dow Jones salutes NJ energy company for its economic, environmental and social responsibility efforts
NEWARK, N.J., Sept. 12, 2013 /PRNewswire/ -- Public Service Enterprise Group (PSEG) was today named for the sixth year in a row to the Dow Jones Sustainability North America Index. The Dow Jones Sustainability Indexes (DJSI) selects leading companies for investment purposes, based on the quality of a company's strategy, management and its performance in dealing with opportunities and risks deriving from economic, environmental and social developments.
"We are proud to again be recognized as a corporate sustainability leader," said Ralph Izzo, chairman, president and CEO of PSEG. "We've been operating our business with a focus on sustainability for more than a century, carefully considering the impact of our actions on our employees and the communities we serve."
DJSI results are watched by market participants and are used by asset managers in 16 countries to manage sustainability-driven portfolios, such as mutual funds. Empirical evidence indicates that companies with higher sustainability scores are more likely to outperform their peers over the long-run.
"The market upheavals and high debt levels of the last few years should remind investors that a long term view of the world and the markets is essential," said David Blitzer, Managing Director and Chairman of the Dow Jones Index Committee. "The Dow Jones Sustainability Indices combine that kind of long run focus on sustainability with index investing to empower investors."
PSEG recently released its fifth Sustainability Report, which highlights the company's focus on energy efficiency and renewables, notes the large investments it has made to reduce emissions of traditional pollutants from its fossil-fueled plants, celebrates the company's outstanding corporate responsibility efforts and record for reliability, and discusses its role in developing solar energy. It also points to the importance of fuel diversity and the value of a strong balance sheet.
Protecting critical infrastructure, the report says, is an important facet of climate adaptation. A key challenge is the need to improve society's ability to withstand and recover from extreme and changing weather patterns. Superstorm Sandy was the worst storm in PSEG's history and it was preceded only a year before by two other devastating storms. The company has proposed a $3.9 billion, 10-year plan to harden its infrastructure and make New Jersey "Energy Strong."
PSEG (NYSE: PEG) is a diversified energy company based in Newark NJ. PSEG has three main subsidiaries: PSE&G, NJ's largest and oldest combined gas and electric delivery company, PSEG Power, a merchant power generation company and PSEG Energy Holdings, a developer of solar farms throughout the U.S. For more information, visit www.pseg.com
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SOURCE Public Service Enterprise Group (PSEG)