{"id":147,"date":"2021-10-15T15:26:39","date_gmt":"2021-10-15T19:26:39","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/esg\/?p=147"},"modified":"2021-10-15T15:26:39","modified_gmt":"2021-10-15T19:26:39","slug":"esg-nj-utility-pseg-announces-two-new-environmental-commitments-and-issues-2021-sustainability-report","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/esg\/2021\/10\/15\/esg-nj-utility-pseg-announces-two-new-environmental-commitments-and-issues-2021-sustainability-report\/","title":{"rendered":"#ESG &#8211; NJ Utility PSEG announces two new environmental commitments and issues 2021 Sustainability Report"},"content":{"rendered":"\r\n<p>Local utility <a href=\"https:\/\/corporate.pseg.com\/\">Public Service Enterprise Group<\/a> (\u201cPSEG\u201d) announced earlier today, October 15, 2021, that it has joined The <a href=\"https:\/\/unfccc.int\/climate-action\/race-to-zero-campaign\">Race to Zero<\/a>\u00a0and\u00a0<a href=\"https:\/\/sciencebasedtargets.org\/business-ambition-for-1-5c\">Business Ambition for 1.5\u00b0C<\/a>, two campaigns that use science-based targets to aid the fight against climate change.<\/p>\r\n<p>The\u00a0<a href=\"https:\/\/unfccc.int\/climate-action\/race-to-zero-campaign\">Race to Zero<\/a>\u00a0and\u00a0<a href=\"https:\/\/sciencebasedtargets.org\/business-ambition-for-1-5c\">Business Ambition for 1.5\u00b0C<\/a>\u00a0campaigns are designed to help mobilize support from businesses, cities, regions and investors for a healthy and resilient zero-carbon economy, in line with global efforts to limit warming to 1.5\u00b0C.<\/p>\r\n<p>PSEG\u2019s also issued its 2021 Sustainability and Climate Report, which updates the company\u2019s achievements and goals for a wide range of topics, including air emissions, energy efficiency, transportation and waste minimization.<\/p>\r\n<p>PSEG Chairman and CEO Ralph Izzo said \u201cClimate change is one of the <strong>preeminent challenges of our time<\/strong>, and PSEG has an obligation to help address climate change and its effect on our environment, our customers and communities around the world.\u201d<\/p>\r\n<p>Their Report showed PSEG\u2019s generation portfolio emission rates for NOx and SO2 were down year-over-year by <strong>58% and 77%<\/strong>, respectively, reflecting emission rates that are significantly below industry averages.<\/p>\r\n<p>The Report also provides updates on PSEG\u2019s progress across a range of sustainability categories, including:<\/p>\r\n<ul>\r\n<li><strong>Energy efficiency: <\/strong>PSEG\u2019s energy efficiency targets have been updated and remain on track. New Jersey regulators approved $1 billion of energy efficiency spend for the three-year programs, designed to help the state achieve its updated framework for energy efficiency and peak demand reduction programs, setting five-year savings targets of 2% for electric distribution and 0.75% for gas distribution companies. PSEG\u2019s targets are aligned with New Jersey\u2019s Clean Energy Act (2018), which calls for these savings to be achieved by 2023.<\/li>\r\n<li>\u00a0<\/li>\r\n<li><strong>Transportation: <\/strong>PSEG aims to reduce fossil fuel use in its own transportation fleet through vehicle electrification, rightsizing the fleet and utilizing renewable fuels. By 2030, PSEG aims to <strong>convert its passenger vehicles<\/strong>, such as sedans and SUVs, 60% of medium-duty vehicles and 90% of heavy-duty vehicles to battery electric vehicles, plug-in hybrids or anti-idle jobsite work systems.<\/li>\r\n<li>\u00a0<\/li>\r\n<li><strong>Waste minimization: <\/strong>Companywide, waste and recycling programs successfully diverted 95.5% of material from landfills in 2020. The ongoing goal for its utility,\u00a0PSEG to focus on new waste streams for recycling, which will continue to decrease landfill tonnage. The waste minimization goal for PSEG is to divert in e<strong>xcess of 95% of material from landfills.<\/strong><\/li>\r\n<li>\u00a0<\/li>\r\n<li><strong>Air emissions: <\/strong>PSEG is reducing air and other emissions by updating its operations and transitioning to cleaner sources of energy, and, per their Report, already has one of the lowest emissions rates among investor-owned power producers, according to MJ Bradley\u2019s Benchmarking Air Emissions report, July 2021. As of 2020, PSEG has <strong>reduced its greenhouse gas emissions by more than 54% since 2005<\/strong> through switching to lower-carbon fuels, improving energy efficiency and modernizing its electricity and natural gas networks, among other strategies.<\/li>\r\n<li>\u00a0<\/li>\r\n<li><strong>Biodiversity: <\/strong>PSEG is committed to promoting and enhancing biodiversity through natural resource conservation while continuing to operate in a safe and reliable manner. PSEG established the <strong>Estuary Enhancement Program<\/strong> in 1994. Protection of natural resources and biodiversity informs their environmental philosophy and the planning process considers the potential impacts on regional biodiversity.<\/li>\r\n<li>\u00a0<\/li>\r\n<li><strong>Diversity, equity and inclusion:<\/strong> PSEG has a target of <strong>30% of total applicable spending<\/strong> allocated to diverse suppliers, including minority-, women-, veteran- and LGBTQ+-owned suppliers. During 2020, PSEG had a sixth consecutive record-setting year by buying more than <strong>$644 million<\/strong> worth of goods and services from diverse suppliers, a 15% increase over 2019. More than 28% of the company\u2019s purchases were with diverse vendors. And PSEG is helping develop New Jersey\u2019s clean energy workforce through innovative training and development programs, emphasizing low- to moderate-income and underrepresented communities.<\/li>\r\n<li>\u00a0<\/li>\r\n<li><strong>Environmental justice:<\/strong> According to the Report, PSEG is developing an environmental justice commitment in support of the many diverse communities it serves across the region and believes such a commitment should convey the importance of centering environmental justice considerations across the organization so that customers \u2014 especially those in underrepresented communities \u2014 can benefit from the coming changes of a decarbonized future.<\/li>\r\n<\/ul>\r\n<p><strong>Triple Bottom Line<\/strong> \u2013 PSEG is one of a growing number of public utilities that have pivoted and started to embrace climate goals and climate change as being critical to their future success.\u00a0 While not all utilities are aligned this way, many are beginning to take real steps to make change in this regard.\u00a0 Much still to do for sure but good, solid, accountable and reportable steps in the sustainability and ESG arenas.\u00a0 Kudos for the effort and the transparency.\u00a0<\/p>\r\n<p><strong>Duane Morris<\/strong> has an active <strong>ESG and Sustainability Team<\/strong> to help organizations and individuals plan, respond to, and execute on Sustainability and ESG planning and initiatives within their own space. We would be happy to discussion your proposed project with you. For more information, or if you have any questions about this post, please contact <strong>Brad A. Molotsky, Nanette Heide, Darrick Mix, Jolie-Anne S. Ansley, David Amerikaner, Christiane Campbell, Sheila Slocum-Hollis, Vijay Bange, Stephen Nichol<\/strong>, or the attorney in the firm with whom you are regularly in contact.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Local utility Public Service Enterprise Group (\u201cPSEG\u201d) announced earlier today, October 15, 2021, that it has joined The Race to Zero\u00a0and\u00a0Business Ambition for 1.5\u00b0C, two campaigns that use science-based targets to aid the fight against climate change. The\u00a0Race to Zero\u00a0and\u00a0Business Ambition for 1.5\u00b0C\u00a0campaigns are designed to help mobilize support from businesses, cities, regions and investors &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/esg\/2021\/10\/15\/esg-nj-utility-pseg-announces-two-new-environmental-commitments-and-issues-2021-sustainability-report\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;#ESG &#8211; NJ Utility PSEG announces two new environmental commitments and issues 2021 Sustainability Report&#8221;<\/span><\/a><\/p>\n","protected":false},"author":285,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[214,215,22,224,222,221,52,84,61,216,51,219,174,220,213,223,209,133,217,134,218],"ppma_author":[7],"class_list":["post-147","post","type-post","status-publish","format-standard","hentry","category-general","tag-214","tag-215","tag-brad-a-molotsky","tag-business-ambition-for-1-5","tag-christiane-campbell","tag-darrik-mix","tag-david-amerikaner","tag-dei","tag-diversity","tag-energy-efficiency","tag-environmental-justice","tag-equity-and-inclusion","tag-jolie-anne-ansley","tag-nanette-hide","tag-pseg","tag-race-to-zero","tag-sheila-slocum-hollis","tag-stephen-nichol","tag-transportation","tag-vijay-bange","tag-waste-stream"],"authors":[{"term_id":7,"user_id":285,"is_guest":0,"slug":"bamolotsky","display_name":"Brad A. 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