SAN DIEGO, June 27, 2002 — Sempra Energy, the parent company of six principal subsidiaries, including Southern California Gas Co. and San Diego Gas & Electric, has earned the No. 2 spot on Fortune magazine’s prestigious annual list of “America’s 50 Best Companies for Minorities.”
This marks Sempra Energy’s fifth consecutive year among the top five of the list, published in the July 8, 2002, issue of Fortune.
For 2001, the year chronicled in this year’s list, the magazine made its ranking criteria more stringent than ever. Fortune paid particular attention to how well minorities were represented at the highest executive levels, as well as to their compensation and how closely bonuses were tied to progress on diversity. Fortune also examined the amount of money spent with minority-owned businesses, financial services firms and charities.
“We are proud to have been ranked at or near the top of Fortune’s ‘America’s 50 Best Companies for Minorities’ for five years running,” said Stephen L. Baum, chairman, president and chief executive officer of Sempra Energy. “This reflects a commitment from top to bottom in our organization to make workforce and supplier diversity core values in our operations. Our 12,000 employees represent a broad mix of backgrounds, cultural expertise and business skills that mirror the diversity in the global marketplace we serve.”
As reported in Fortune’s survey, 48 percent of Sempra Energy’s general workforce and 30 percent of its managers were comprised of African-Americans, Asians, Hispanics and Native Americans. Minority representation on Sempra Energy’s board of directors was 31 percent for the survey.
Sempra Energy’s diversity results at the top levels of the company were superior to those of its industry peers on the list. On average at those companies, 24 percent of the management and 19 percent of the board directors were minorities.
The amount of goods and services that Sempra Energy purchases from minority suppliers also contributed to its high ranking. In 2001, the Sempra Energy companies spent $119 million, or 24 percent of their total purchasing, with minority-, woman- and service-disabled-veteran-owned businesses.
In addition, the Sempra Energy companies have hired woman- and minority-owned investment firms to manage approximately $50 million in assets for their employees’ pension funds.
In a related development, last month, Sempra Energy received high rankings on three national diversity lists published by DiversityInc.com: the “Top 10 Companies for Diversity Recruitment and Retention,” the “Top 10 Companies for Supplier Diversity,” and the “Top 50 Companies for Diversity.”
Sempra Energy’s Office of Corporate Diversity Affairs manages workplace diversity at the company. This special entity successfully creates an environment in which employees of all races and ethnic backgrounds are valued and can use their unique perspectives to contribute to the business goals of the company. Sempra Energy also has a dedicated team that manages supplier diversity. The team conducts outreach programs and mentors minority-, woman- and service-disabled-veteran-owned businesses, helping Sempra Energy reduce costs, bring innovation and provide customers with the best products and services at competitive prices.
The full text of Fortune’s “America’s 50 Best Companies for Minorities” is posted on the magazine’s Web site at www.fortune.com/diversity .
Sempra Energy (NYSE: SRE – News), based in San Diego, is a Fortune 500 energy services holding company with 2001 revenues of $8 billion. The Sempra Energy companies’ nearly 12,000 employees serve more than 9 million customers in the United States, Europe, Canada, Mexico, South America and Asia.