PSEG and the PSEG Foundation have committed $1 million to our new Powering Equity and Social Justice initiative, which provides philanthropic support to organizations that foster changes, such as confronting systemic racism or advancing social and economic equity for people of color. We also are seeking to both develop and strengthen partnerships with organizations dedicated to social justice and to building bridges between law enforcement and communities.
Read more from Ralph Izzo in this LinkedIn article:
Powering equity and social justice
The events of the past several weeks have been both unsettling and thought-provoking. The outcry that has followed the deaths of George Floyd – and, sadly, too many others – calls for companies like PSEG to act. As corporate citizens, we have a responsibility and obligation to stand up for the equitable treatment of our employees, our customers, and the many diverse communities we serve.
PSEG and our employees do more than work in our communities. We’re part of them. We live, play, and raise our families alongside our customers – and we’re committed to building better places to live and work. When any part of our communities is hurting, we all hurt. We’re all part of the same global community, and we’re stronger when we stand together.
That’s why, when we witness prejudice, injustice, or hate, it’s vital that we join together to root it out. At this moment, it’s why I urge each of us to listen, learn, and stand in solidarity with our African American loved ones, friends, and neighbors. When we’re able to show that we care for our Black communities, then we will have built a framework of justice, compassion, and respect that will truly benefit us all.
As we mark the annual observance of Juneteenth, I’m pleased to announce that PSEG is taking a number of actions intended to address today’s challenges.
First and foremost, PSEG and the PSEG Foundation are committing $1 million to our new Powering Equity and Social Justice initiative, which provides philanthropic support to organizations that foster changes, such as confronting systemic racism or advancing social and economic equity for people of color. We also are seeking to both develop and strengthen partnerships with organizations dedicated to social justice and to building bridges between law enforcement and communities.
Second, in order to provide access to fair and equitable opportunity throughout our communities, PSEG pledges to increase its business with diverse suppliers – those owned by minorities, women, veterans, service-disabled veterans, and LGBTQ+ entrepreneurs – to at least 30% of the company’s applicable supplier spend by 2023. As a leading energy company, PSEG helps drive the economies of the states where we do business, so it’s critical that our suppliers represent our incredibly diverse customers and communities.
Finally, PSEG is looking inward at its culture, as well. During the past year, we have conducted diversity and inclusion training for leaders and employees, and a comprehensive review of our policies and practices is in progress as we strive to ensure equity throughout our organization. In recent weeks, we have engaged in difficult but necessary conversations across our workforce and, for the first time, provided all 13,000 of our employees with paid time off in recognition of the Juneteenth holiday. These conversations and other activities will continue as we develop a pipeline of diverse talent and recommit ourselves to retention efforts that will help us build a more inclusive workforce.
As we look to the future, PSEG recognizes that we’ll need to double-down on these commitments to equality if we’re going to continue to make a difference in the lives of our employees, our customers, and the communities we share. When we take on these challenges together, no change is beyond our reach. Thank you.