Sep 30, 2011, 12:10 ET
SAN DIEGO, Sept. 30, 2011 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today released its third annual corporate responsibility report, which outlines the company's performance and initiatives on a range of issues, including environmental stewardship, ethics, corporate governance, employee development, diversity and philanthropy.
Entitled "We're All Connected," the report illustrates Sempra Energy's commitment to corporate citizenship and a low-carbon business strategy, which has resulted in a power plant carbon-dioxide emissions rate of more than 40 percent below the national average. The report also details how the Sempra Energy companies are preparing for dramatic changes in the energy industry.
"We are proud of our record of corporate responsibility in areas such as environmental stewardship, philanthropy and corporate governance, while at the same time integrating the latest technologies and sustainable resources into our core business strategy," said Debra L. Reed, chief executive officer of Sempra Energy. "Our goal is to deliver clean energy safely and reliably."
Highlights from the report include:
- Innovation: San Diego Gas & Electric (SDG&E) is a leader among utilities in transforming the power grid into an "intelligent" system of two-way communications with customers. SDG&E has replaced nearly all of its customers' 2.3 million gas and electric meters with smart meters. Southern California Gas Co. will start retrofitting its customers' nearly 6 million meters with wireless communications devices in 2012.
- Safety: The Sempra Energy companies operate nearly 120,000 miles of natural gas pipelines and more than 18,000 miles of electric transmission and distribution lines. In 2010, there were no serious injuries or fatalities associated with the operation of these systems.
- Renewable power: Sempra Generation has commenced operation of the largest photovoltaic solar power project in the U.S. In total, the company plans to develop 1,000 megawatts of renewable energy over the next five years.
- Diversity: More than half of Sempra Energy's U.S. workforce are minorities and 31 percent are women, earning Sempra Energy honors in 2010 for leadership in diversity. Debra L. Reed, appointed chief executive officer of Sempra Energy in June, is just one of 13 female chief executives leading Fortune 500 companies.
Sempra Energy's third annual corporate responsibility report is available online at: http://www.sempra.com/cr.
Earlier this month, Sempra Energy was added to the Dow Jones Sustainability North American Index and the Carbon Disclosure Leadership Index. Both indexes are used by investors to assess companies' long-term sustainability.
Sempra Energy's five principal subsidiaries are San Diego Gas & Electric, Southern California Gas Co., Sempra Generation, Sempra Pipelines & Storage and Sempra LNG. Effective Jan. 1, 2012, Sempra Generation, Sempra Pipelines & Storage and Sempra LNG will be consolidated into two new operating units, Sempra International and Sempra U.S. Gas & Power.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2010 revenues of $9 billion. The Sempra Energy companies' 17,500 employees serve more than 31 million consumers worldwide.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words like "believes," "expects," "anticipates," "intends," "plans," "estimates," "may," "will," "would," "could," "should," "potential," "target," "depends," or similar expressions, or discussions of strategies, plans or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, California State Legislature, Federal Energy Regulatory Commission, Nuclear Regulatory Commission, California Energy Commission, California Air Resources Board, and other regulatory, governmental and environmental bodies in the United States and other countries where the company does business; capital market conditions and inflation, interest and exchange rates; energy markets, including the timing and extent of changes and volatility in commodity prices; the availability of electric power, natural gas and liquefied natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental and legal decisions and requirements; the status of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website at www.sempra.com.
Sempra Generation, Sempra LNG and Sempra Pipelines and Storage are not the same company as the utility, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra Generation, Sempra LNG and Sempra Pipelines & Storage are not regulated by the California Public Utilities Commission.
SOURCE Sempra Energy
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