Energize!

PSEG and our commitment to economic equity

Ralph Izzo, Chairman, President & CEO – PSEG:

It’s no exaggeration to say that, over the past seven months, our lives have undergone drastic changes – from our homes to our workplaces to our schools and institutions. Above all, the COVID-19 pandemic has taken a heartbreaking toll on thousands of families whose loved ones have fallen ill, or worse.

Throughout our communities, the coronavirus has caused additional hardship for many thousands more due to the economic impacts of the pandemic. The sudden and unexpected loss of jobs, businesses, careers and livelihoods has been devastating.

As often happens, the pandemic’s health and economic impacts have been felt most severely in communities of color. And so our collective recovery efforts should be focused on those very same communities.

Last week, PSEG was proud to join Gov. Phil Murphy and the New Jersey CEO Council in a statewide commitment to economic equity. Our partners in this effort include venerable institutions such as Merck, Prudential Financial, RWJBarnabas and Campbell Soup Co., among many others. Together, these companies have pledged to boost the state’s economy – and especially underrepresented communities of color and other underserved communities – by hiring or training 30,000 workers by 2030, and increasing their spending with the state’s diverse supplier community by $250 million by 2025.

“PSEG has always taken great pride in our role as an economic driver for the many diverse communities we serve, in New Jersey, Long Island, Connecticut and beyond. Our energy and infrastructure programs benefit millions of residential and business customers, while also creating family-sustaining jobs for thousands of people.”

PSEG has always taken great pride in our role as an economic driver for the many diverse communities we serve, in New Jersey, Long Island, Connecticut and beyond. Our energy and infrastructure programs benefit millions of residential and business customers, while also creating family-sustaining jobs for thousands of people.

Equity shall continue to be a driving factor in PSEG’s vision for New Jersey’s clean energy transformation, and PSE&G’s investments in energy efficiency, electric vehicle charging, energy storage and fortifying New Jersey’s energy infrastructure against the effects of climate change, as well as our partnership with the New Jersey Department of Labor, will help us create thousands of new jobs and new economic opportunities throughout the state.

What’s more, PSEG had already pledged to increase our 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.

I applaud the leadership of the Murphy administration and the commitments of the New Jersey businesses that have signed onto this initiative. Working together, we can help New Jersey’s economy recover from the pandemic, and ensure that our efforts and opportunities are focused on those communities that have been hardest-hit.

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