Yesterday, PSEG and the PSEG Foundation announced the Powering Equity and Social Justice initiative and a $1 million commitment in support of organizations addressing racial injustice, inequality and human rights in communities of color.
The initiative will provide philanthropic support to organizations anywhere PSEG operates, aiming to advance social and economic equity.
PSEG also reaffirmed its pledge to increase 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.
PSEG’s increased supplier diversity goals will help foster access to fair and equitable opportunity and the company states it already has relationships with a broad base of diverse of suppliers.
During the past year, the company conducted diversity and inclusion training and a comprehensive review of its policies and practices for all leaders and employees. Also, the company has fostered conversations across its workforce, and, for the first time, provided every employee with paid time off in recognition of the Juneteenth holiday.
“These initiatives and commitments provide an opportunity for PSEG to take action and stand in solidarity with our customers, communities and employees in pursuit of needed change,” PSEG Chairman, President and CEO Ralph Izzo said. “By supporting organizations that champion justice and social equity, and by increasing support for our growing network of diverse suppliers, we hope to foster change and make a difference in the many diverse communities we serve.”
“PSEG has always had a unique and special relationship with the communities we serve, and today we take this a step further by more directly powering equity and social justice to address the prejudice, hate and injustice we too often observe,” added Rick Thigpen, PSEG’s senior vice president for Corporate Citizenship and president of the PSEG Foundation.