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Message from our Chairman: 2013 PSEG Sustainability Report
This is the 110th year of the PSEG family of companies. Our energy has long been instrumental in making life better for our customers and communities. We are the oldest and largest electric and gas utility in New Jersey as well as a large regional electricity provider. We have solar energy facilities in five states. Our dedicated employees remain our most important asset.
Sustainability is a business imperative as we chart our course for the next 110 years. Our vision – based on safe, reliable, economic and greener energy – is in the forefront of our thinking.
The successful utilities of the future will align their businesses ever more closely with the needs of society. One key challenge is the need for a resilient infrastructure to improve society’s ability to withstand and recover from extreme weather. Superstorm Sandy, which struck New Jersey on October 29, 2012, was the worst storm in our history. We don’t know if or when another Sandy will strike. Yet it is indisputable that people are increasingly dependent on electricity at a time when the effects of changing weather patterns test our adaptive capacities more than ever.
Proactive strategies are needed to reduce our vulnerability to these events. Our Energy Strong investment plan would dedicate nearly $4 billion over 10 years in improvements to further strengthen our electric and gas systems and help safeguard our customers and communities. This is a cornerstone investment in keeping with what PSEG has done for more than 100 years to support a bright future for New Jersey. It will provide lasting benefits to our customers. And it will take to the next level what it means to be a leader in providing safe, reliable, economic and greener energy.
Protecting critical infrastructure is an important facet of climate adaptation. We need to be just as proactive in addressing the roots of the problem by reducing pressures on the environment. We will continue to emphasize a sustainable energy strategy based on energy efficiency, renewables and other advanced, clean technologies. Over many years we have made large investments to reduce emissions of traditional pollutants from our fossil-fueled plants to a small fraction of former levels. We see this as a critical element of our competitive positioning while also contributing to our reputation for environmental leadership.
As you will see in this report, we continue to make significant strides toward becoming a more sustainable business. With the continued support of our employees, we have been able to make meaningful progress through wide-ranging and ongoing efforts to further reduce environmental impacts and strengthen economic vibrancy on many different levels, while at the same time continuing to deliver value to our customers and shareholders alike.
There is no resting on laurels if companies such as PSEG are to meet society's evolving needs for sustainable energy. While we have far to travel on our journey, we are fortunate in having an outstanding workforce of diverse and highly skilled people. With their continued support, I am confident that the future will be even brighter not only for our company, but for the larger society around us.
PSEG named to 2013 North American DJSI Index
Recognized for economic, environmental and social responsibility.
PSEG Institute for Sustainability Studies
Sustainable research, education and outreach.