Public Service Enterprise Group 2008 Web Pages
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To learn more about how we score, what topics are considered in the evaluation, and what score we assigned in each topic, click here: View the completed PSI scoring sheet
Public Service Enterprise Group’s commitment to protecting the environment and exhibiting ethical and responsible social and economic conduct deserves the utmost praise and recognition this year. As seen on its website, it is evident that the company values its environmental and social policies with extensive information and reports on each area and sector. The company has supported many initiatives to develop clean energy, conserve, and recycle in order to combat climate change which it sees as being “a real phenomenon and must be addressed now.” A few examples include its “Switch and Save” program which handed out 100,000 compact fluorescent light bulbs to customers, its award-winning membership of the EPA’s WasteWise program, and its habitat protection and restoration efforts in the Estuary Enhancement Project. The company’s website also offers many ways for customers to learn how they can reduce their carbon footprint and create an environmentally sustainable community. Although PSEG provides a very thorough description of climate change, renewable energy, conservation, and habitat protection, the company’s energy portfolio does not match the emphasis put on clean energy, with just 3.6 percent of it’s energy coming from renewable sources, and 38.4 and 42.6 percent coming from coal and nuclear, respectively. Furthermore, it would be in the company’s best interests to provide a more extensive report on its recycling data, including how much waste is produced each year, how much of that is recycled, and whether or not the waste is hazardous or non-hazardous. The company does a great job of describing the requirements that must be met in order to be considered as a supplier for PSEG, but it is unclear as to what the supplier’s energy portfolio needs to be. PSEG has demonstrated great efforts to promote social sustainability issues but has room for improvement in key areas. The company expresses clear stances on the promotion of equal opportunity and diversity and the opposition of bribery, corruption practices, and sexual harassment. PSEG also does an excellent job of promoting health and safety protection, employee volunteerism, and community development and education throughout New Jersey. However, the PSEG website fails to address employee working hours, forced labor, fair compensation, and the free association and collective bargaining of employees. By addressing these issues in the “Standards of Integrity” portion of the website, a complete evaluation of social sustainability can be performed. Analyzed by Joseph Bryan Swartley, and posted to the web on 10/22/2008.
Public Service Enterprise Group (PSEG) is a publicly traded (NYSE:PEG) diversified energy company headquartered in New Jersey, and one of the ten largest electric companies in the U.S. PSE&G is a regulated public utility company engaged in the transmission and distribution of gas and electricity to nearly three quarters of New Jersey's population. Today, PSEG is a publicly traded diversified energy company (NYSE: PEG), with 2007 annual revenues of $12.9 billion. PSEG ranks 101 on Forbes magazine's 400 Best Big Companies list for 2007 and number 198 on the Fortune 500 list for 2008. PSE&G is highly regarded for its reliable service. For the sixth year in a row, PSE&G won the Mid-Atlantic Reliability One award, a prestigious honor given by PA Consulting in recognition of superior electric-system reliability. This achievement goes along with two National Reliability One Awards that PSE&G won in recent years. As electric and gas markets are deregulated by state and national governments, PSEG is committed to identifying and seizing opportunities in energy services and related fields, while maintaining its high level of gas and electric service to its traditional residential and business customers. (www.pseg.com)
The letter grades reported below are based on all reports irrespective of year of the same sector in the database and may be slightly different from the grades in the individual sector reports, which are based on scores of companies in just that report.
Roberts Environmental Center at Claremont McKenna College
W.M. Keck Science Center
925 N. Mills Avenue
Claremont, CA 91711-5916
(909) 621-8190 or (909)621 8698 or (909) 621-8298
FAX (909) 607-1185