Public Service Enterprise Group releases 2019 Sustainability Report
Public Service Enterprise Group (PSEG) released on Monday its 2019 Sustainability Report.
The report marks the first time PSEG’s sustainability report includes Complete Sustainability Accounting Standards Board (SASB) disclosures and an environmental, social, and corporate governance (ESG) materiality assessment and map.
The report also includes 12 new ESG and sustainability goals. These goals include reducing absolute methane emissions by 21.7 percent from 2018 to the completion of Gas System Modernization Program Phase at the end of 2023, reaching supplier diversity of 30 percent by 2023, attaining first decile in System Average Interruption Duration Index (SAIDI) and achieving a significant reducing reduction in Employee Total Incident Case Rate (TICR) OSHA Recordable Incident Rate below the current level.
PSEG previously announced a vision of achieving net-zero carbon emissions from PSEG Power’s generation fleet by 2050.
Within the report, PSEG also mapped its programs and initiatives to the United Nations’ Sustainable Development Goals (SDGs). The report also notes that PSEG will adopt the Task Force on Climate Related Financial Disclosure (TCFD) framework for reporting ESG disclosures, starting in 2020.
“Our 2019 Sustainability Report showcases PSEG’s commitment to sustainability and performance on environmental, social and governance topics,” PSEG Chairman, President and CEO Ralph Izzo said. “While our first century has been based on the mission to deliver universal access to electricity and natural gas – safely and reliably – our second century will be marked by going beyond this mission to deliver the innovative clean energy solutions our customers want.”
