PSEG announces Powering Progress — a vision based on a more sustainable, equitable future

Company’s new vision, mission intended to take on climate change while working toward clean energy economy

Public Service Enterprise Group officials on Monday are unveiling Powering Progress — a vision and mission for what they are calling solutions to the challenges of extreme and damaging weather while protecting the environment and taking action toward a clean, electrified and sustainable economy where all people thrive.

PSEG officials said their vision is to power a future where people use less energy, and it’s cleaner, safer and delivered more reliably than ever. Their mission is to:

  • Be a positive force in a changing world by providing infrastructure to access safe, affordable, reliable and cleaner energy;
  • Work toward a carbon-free economy;
  • Empower the lives of our customers, our communities, our workforce and other stakeholders;
  • Embrace diversity and inclusion, and promote equitable and ethical behavior.

“As we enter a new chapter of PSEG’s history, focused on driving a carbon-free economy that serves our people and communities in a fair and equitable way, it is important that we share our goals and path to the future,” PSEG Chairman and CEO Ralph Izzo said. “Our vision and mission will guide us to a more sustainable future and help all our diverse communities thrive. This is Powering Progress.”

Ralph Izzo. (File photo)

Izzo said PSEG is an infrastructure company focused on a clean energy future, powered by a diverse, dedicated and highly skilled workforce.

PSEG recently completed its Strategic Alternatives process, divesting 6,750 megawatts of fossil generation to enhance its focus on infrastructure and clean energy investments and drive regulated utility growth. PSEG’s Core Commitments, for itself and its suppliers, remain unchanged: safety; integrity; continuous improvement; customer service; and diversity, equity and inclusion.

Izzo said today’s customers, employees and investors expect PSEG to not just serve its communities, but to help solve some of society’s most complex problems. From its net-zero by 2030 ambition and the development of science-based targets to its energy efficiency programs, to transportation and waste minimization goals, Izzo said Powering Progress embodies PSEG’s aspirations for today and ensures it will be here to support communities into the future.

About PSEG

Public Service Enterprise Group Inc. is a publicly traded diversified energy company headquartered in Newark. PSEG’s principal operating subsidiaries are: Public Service Electric and Gas Co., PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company included in the Standard & Poor’s 500 Index and has been named to the Dow Jones Sustainability Index for North America for 14 consecutive years.

PSEG Chief Operating Officer Ralph LaRossa said the goals will be a challenge — but one the company is eager to take on.

“PSEG is proud to enhance the lives of our customers and our workforce,” he said. “We’re continuing to build on our history and experience to meet the new challenges before us. It won’t be easy, and we don’t have all the answers, but, working together, we can build a better tomorrow. Powering Progress is within reach.”

As part of Powering Progress, PSEG officials said the company remains committed to transparency and reporting. Details on the company’s policies that support climate, sustainability, DEI and gender equality are part of PSEG’s 2021 Sustainability and Climate Report and its 2021 DEI Report.

PSEG Chief Human Resources Officer and Chief Diversity Officer Sheila Rostiac said the company is committed to progress.

“Because of the diverse talents, backgrounds and experience of our teams, we can meet this moment and fulfill our purpose,” she said. “When our thousands of employees are engaged in this mission, we will be a positive force to be reckoned with: This is how we are Powering Progress.”

PSEG Senior Vice President for Corporate Citizenship Rick Thigpen agreed.

“PSEG recognizes that the most sustainable, long-lived companies are those that are able to do business in a way that also does good for the world around us,” he said. “No single person or company can do it alone, which is why community and service are core to our mission. Powering Progress is the reason we come to work every day.”

To mark the new vision and mission, PSEG employees will join Izzo on the floor of the New York Stock Exchange on Monday to ring the closing bell.