PSEG and foundation arm announces $1M commitment to fight racial inequality

PSEG and the PSEG Foundation announced on Friday a $1 million commitment to support organizations that address systemic racism, inequality and human rights.

The Power Equity and Social Justice initiative will provide philanthropic support to organizations anywhere PSEG operates, including New Jersey, that focused on advancing social and economic equity for communities of color. The company is also aiming to develop and strengthen partnerships focused on social justice and bridging the gap between law enforcement and communities.

PSEG also reaffirmed its pledge to increase its business with diverse supplies to at least 30% of the company’s supplier spend by 2023. This will help foster access to fair and equitable opportunities, it said.

“These initiatives and commitments provide an opportunity for PSEG to take action and stand in solidarity with our customers, communities and employees in pursuit of needed change,” Ralph Izzo, chairman, CEO and president, said. “By supporting organizations that champion justice and social equity, and by increasing support for our growing network of diverse suppliers, we hope to foster change and make a difference in the many diverse communities we serve.”

In the past year, the company said it conducted several diversity and inclusion training courses for its workers and is reviewing its policies and practices to better reflect equity.

“PSEG helps drive the economies of the states where we do business,” Izzo said. “It’s critical that our suppliers represent our incredibly diverse customers and communities.”

And, for the first time, PSEG said it provided every employee with paid time off in recognition of Juneteenth.

“PSEG has always had a unique and special relationship with the communities we serve, and today we take this a step further by more directly powering equity and social justice to address the prejudice, hate and injustice we too often observe,” Rick Thigpen, PSEG’s senior vice president for corporate citizenship and president of the PSEG Foundation, said. “When one of us is impacted in the PSEG community, we are all impacted. Therefore, it’s vital that we all join together to act and build a framework of equity, compassion, and respect that will truly benefit us all. For that reason, our company stands ready to support organizations that address racial injustice, inequality and human rights in communities of color in order to build a brighter future for everyone.”