NEWARK, N.J., Sept. 12, 2016 /PRNewswire/ -- Public Service Enterprise Group (PSEG) was named to the Dow Jones Sustainability North America Index for the ninth consecutive year. The Dow Jones Sustainability Indices (DJSI) recognize forward-thinking companies based on an appraisal of the company's strategy, management and its performance in dealing with opportunities and risks deriving from environmental, social and governance factors.
"We're pleased to be recognized as a corporate sustainability leader. PSEG is a 113-year-old company committed to the long-term health of our business, as well as the long-term health of the communities we work and live in," said Ralph Izzo, PSEG's chairman, president and CEO. "Our mission is to provide safe, reliable, economic and greener energy as we create good jobs and support the economy."
The Gas System Modernization Program (GSMP) of our regulated utility, PSE&G, calls for replacement of more than 500 miles of aging gas pipes throughout New Jersey and is a great example of the company's mission. This important work not only enhances the safety and reliability of our energy infrastructure, it also reduces the release of methane, a potent greenhouse gas, and creates hundreds of jobs.
PSEG is also a leader in expanding customer access to energy efficiency and renewable solar power. Since 2009, PSEG has invested more than $1 billion to directly develop or finance clean solar power. This includes 28 grid-connected community solar facilities in New Jersey and a portfolio of 17 utility-scale solar operations across 12 states. In 2015, PSE&G received approval to invest an additional $95 million in energy efficiency programs for its utility customers, an essential part of building a sustainable future.
"With 2016 likely to be the hottest year on record, investors are again reminded that companies' environmental and sustainability efforts are crucial to their financial outcomes," said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Index. "The Dow Jones Sustainability Indices are comprehensive benchmarks of companies that meet the RobecoSAM's sustainability standards and give investors tools to develop global allocations that reflect sustainability factors."
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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SOURCE Public Service Enterprise Group (PSEG)