Essay: PSEG

INTRO
PSEG is an electric and gas company serving three out of every four people in the state of New Jersey. Ranked 272 on the Fortune 500 list with 13,000 employees, they boast 4 million customers with an added 1.1 million customers using PSEG Long Island’s electric transmission and distribution services. In 100 years of operation they have developed power plants throughout the Mid-Atlantic and Northeast regions (capable of generating 12,000 megawatts of energy capacity), as well as solar energy facilities distributed throughout the United States, both serving to help them achieve their goal of positive global impact through sustainability initiatives.
SUSTAINABILITY
As the awareness of corporate sustainability grows, PSEG has committed itself to being more sustainable and efficient in its practices. In their most recent comprehensive sustainability report, which summarizes their goals for 2015, they inform stakeholders of their effort to impact and improve the environment. Their ultimate goal is to provide “safe, economic, reliable, greener energy” through operational excellence, financial strength, and disciplined investment, while understanding their responsibility to the environment.  In order to translate their sustainability goals into quantifiable measures of success, they use metrics such as “operations”, “people”, “green energy”, and “reliability” in tandem with a scorecard to measure their successes against top performers in those categories.
PSEG utilizes revolutionary technological advancements to meet new standards in support of the environment. Modernizations of gas systems help reduce their methane emissions by 122,000 tons of carbon dioxide each year. To maintain low nitrogen oxide and carbon monoxide emission levels, they are initiating plans to construct a natural gas-fired 755 megawatt unit at Keys Energy Center in Maryland, in addition to condensers that use recycled water for cooling purposes, thus substantially lessening their contribution to climate change. Additionally, the company is proactively using financial resources to invest in areas of energy efficiency and solar energy, which are lauded as critical to a sustainable future.
In an effort to preserve their corporate ethical identity, they comply strictly with all environmental, health, and safety laws and regulations. Not only does this ensure proper interaction and regard for federal and state legislative bodies, but it also sets a precedent for competitors. Lastly, they have voluntarily pledged to decrease their greenhouse gas emission intensity by 18% by 2020, but have already achieved an outstanding reduction of 31%. They further pledged to reduce an additional 35% by year 2025.
SERVICE
The gas and electric company show its commitment to philanthropic opportunities through the donation of resources and through employee engagement in their respective communities. Employees are encouraged to donate their time to various causes, including underprivileged youth, low-income families, schools, disaster relief and response, prevention of substance abuse, conservation of wildlife and resources, commitment to animal rescue, and mental illness and safety. As a company, PSEG invests in projects that it believes will strengthen communities, such as providing financial support to retirees, as well as donating billions of dollars intended to create infrastructure improvements. They also participate in the Community Foundation of New Jersey, which connects individuals with companies to grant money through Legacy and Donor Advised Funds. Next, in support of attracting women to pursue STEM fields, PSEG provides funding and scholarships to those women who require financial aid to attend educational institutions. Additionally, PSEG founded an Employee Crisis Fund that supplies short-term relief to employees and their dependents, should emergency arise.
DIVERSITY AND INCLUSION
PSEG recognizes the cultivation of diversity and inclusion of all talents to be an integral part of their commitment to social responsibility. The development and attraction of a skilled, diverse workforce that is engaged in the interests of the company is key to excellent day-to-day and long-term operation. Continuously training managers to be aware of a diverse culture helps build a workplace culture that is inclusive and respectful. A training program called “People Strong” (a curriculum designed to build up the abilities of employees by fostering diversity and inclusion) helps identify risk and opportunity by encouraging employees to strategize and communicate. In 2014, PSEG was awarded the New Jersey DVRS Employer of the Year Award for its efforts to hire disabled workers. The company continues to establish Disability Outreach initiatives by sharing employment opportunities with local organizations (United Way and Goodwill Industries), and establishing partnering directly with large philanthropic organizations like Wounded Warriors.
With an ongoing focus on hiring and developing talent, PSEG uses classroom and eLearning channels to cultivate and grow its people, especially those who are recognized as potential high-performing employees. A one-day program provides new employees with an understanding of the company culture, policies and practices. New college recruits attend a six month onboarding program called “Accelerate”, which helps them transition from their campus to a fast-paced corporate environment, allowing them to engage in business more quickly. Two flagship programs lend themselves to developing upper-level talent: Leadership Academy is aimed to build the leadership and problem-solving skills of top-performing managers, while Supervisory Academy helps leaders to lead teams and drive improvement within the organization. Further, Technical Training through Leadership Management Systems in New Jersey and Long Island helps to maintain a highly skilled force of craft employees.
CONCLUSION/SUMMARY
PSEG is an excellent example of a company striving to integrate sustainability into their business practices. As an energy company they hold themselves responsible and proactively champion new and innovative ideas to raise the standards for environmental care. They also strive to provide equal opportunities for employees and applicants regardless of race, status, or ability, and focus attention on cultivating respect and understanding in a diverse environment. In service, PSEG workers are encouraged to participate in their local communities in many modalities. I was impressed by their commitment to helping to replace infrastructure, however I feel their Emergency Crisis Fund was an equally important cause that received relatively insignificant funding, with only $2,500 in aid to each recipient. Overall, PSEG has framed itself as a company that is responsible in all three key topics, despite the gap in a service opportunity.