SAN DIEGO, June 24, 2019 /PRNewswire/ -- Sempra Energy
(NYSE: SRE) today released its corporate sustainability report,
"Delivering Energy With Purpose," outlining the company's
environmental, social and governance performance in 2018.
"Delivering energy with purpose is how we improve the lives of
those we serve and is an integral part of who we are," said
Jeffrey W. Martin, chairman and CEO
of Sempra Energy. "With a strong focus on safety, innovation and
environmental stewardship, our company will deliver cleaner energy
to the world – with purpose. This focus makes our company more
effective and efficient."
In this year's report, Sempra Energy details how the company is
delivering cleaner and more sustainable energy by making critical
investments in energy infrastructure in North America.
This includes the company's efforts to build infrastructure to
connect customers to renewable energy supplies including energy
from solar, wind, battery storage and renewable natural gas. Sempra
Energy's operating companies also have a number of programs that
aim to enhance electric reliability and energy efficiency,
including encouraging their approximately 40 million consumers to
conserve energy to make better use of renewable energy sources.
As part of climate-related planning, Sempra Energy's businesses
consistently work to strengthen their infrastructure. This includes
taking a leadership position in modernizing natural gas pipelines
to increase safety and reliability; and developing a comprehensive
wildfire mitigation plan to help prevent electric equipment-related
fires, improve the ability of the power grid to withstand extreme
weather conditions in California,
and enhance the safety of customers and communities.
In addition, the company expects to play a leadership role in
the worldwide shift away from coal toward lower-emissions natural
gas through the development of five liquefied natural gas (LNG)
infrastructure projects in North
America that should enable the delivery of LNG to consumers
around the world.
"Sustainability will continue to be a key focus as we carry out
our mission to be North America's
premier energy infrastructure company," said Dennis V. Arriola, executive vice president and
group president, and chief sustainability officer, for Sempra
Energy. "We recognize that we have a leadership role to play in the
broader world and we're committed to doing the right thing and
acting in an ethical and transparent manner in all aspects of our
business."
In 2018, Sempra Energy formed a sustainability steering
committee made up of officers from its operating companies to
support the company's environmental, social and governance goals.
This internal steering committee builds upon Sempra Energy's board
of directors' Environmental, Health, Safety & Technology
committee, which oversees risks and performance in a range of
areas, including climate change and wildfire risk.
Learn more about the critical role of sustainability at Sempra
Energy by reading the full 2018 corporate sustainability
report available at www.sempra.com/sustainability.
Sempra Energy's mission is to be North
America's premier energy infrastructure company. With 2018
reported revenues of more than $11.6
billion, the San Diego-
based company is the utility holding company with the largest U.S.
customer base. The Sempra Energy companies' more than 20,000
employees are focused on delivering energy with purpose to
approximately 40 million consumers worldwide. Sempra Energy has
been consistently recognized for its leadership in diversity and
inclusion, and social responsibility, and is a member of the
S&P 500 Utilities Index and the Dow Jones Utility Index.
This press release contains statements that are not
historical fact and constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements can be identified by words such as
"believes," "expects," "anticipates," "plans," "estimates,"
"projects," "forecasts," "contemplates," "assumes," "depends,"
"should," "could," "would," "will," "confident," "may," "can,"
"potential," "possible," "proposed," "target," "pursue," "outlook,"
"maintain," or similar expressions, or when we discuss our
guidance, strategy, plans, goals, vision, mission, opportunities,
projections, initiatives, objectives or intentions. Forward-looking
statements are not guarantees of performance. They involve risks,
uncertainties and assumptions. Future results may differ materially
from those expressed in the forward-looking statements.
Factors, among others, that could cause our actual results
and future actions to differ materially from those described in any
forward-looking statements include risks and uncertainties relating
to the greater degree and prevalence of wildfires
in California in recent years and the risk that we may be
found liable for damages regardless of fault, such as where inverse
condemnation applies, and risk that we may not be able to recover
any such costs in rates from customers in California; actions
and the timing of actions, including decisions, new regulations and
issuances of authorizations by the California Public Utilities
Commission, U.S. Department of Energy, California Department of
Conservation's Division of Oil, Gas, and Geothermal Resources, Los
Angeles County Department of Public Health, U.S. Environmental
Protection Agency, Federal Energy Regulatory Commission, Pipeline
and Hazardous Materials Safety Administration, Public Utility
Commission of Texas, states, cities and counties, and other
regulatory and governmental bodies in the U.S. and other countries
in which we operate; the success of business development efforts,
construction projects, major acquisitions, divestitures and
internal structural changes, including risks in (i) obtaining or
maintaining authorizations; (ii) completing construction projects
on schedule and budget; (iii) obtaining the consent of partners;
(iv) counterparties' ability to fulfill contractual commitments;
(v) winning competitively bid infrastructure projects; (vi)
disruption caused by the announcement of contemplated acquisitions
and/or divestitures or internal structural changes; (vii) the
ability to complete contemplated acquisitions and/or divestitures;
and (viii) the ability to realize anticipated benefits from any of
these efforts once completed; the resolution of civil and criminal
litigation and regulatory investigations and proceedings; actions
by credit rating agencies to downgrade our credit ratings or those
of our subsidiaries or to place those ratings on negative outlook
and our ability to borrow at favorable interest rates; deviations
from regulatory precedent or practice that result in a reallocation
of benefits or burdens among shareholders and ratepayers; denial of
approvals of proposed settlements; delays in, or denial of,
regulatory agency authorizations to recover costs in rates from
customers or regulatory agency approval for projects required to
enhance safety and reliability; and moves to reduce or eliminate
reliance on natural gas; the availability of electric power and
natural gas and natural gas storage capacity, including disruptions
caused by failures in the transmission grid, limitations on the
withdrawal or injection of natural gas from or into storage
facilities, and equipment failures; risks posed by actions of third
parties who control the operations of our investments; weather
conditions, natural disasters, accidents, equipment failures,
computer system outages, explosions, terrorist attacks and other
events that disrupt our operations, damage our facilities and
systems, cause the release of harmful materials, cause fires and
subject us to third-party liability for property damage or personal
injuries, fines and penalties, some of which may not be covered by
insurance (including costs in excess of applicable policy limits),
may be disputed by insurers or may otherwise not be recoverable
through regulatory mechanisms or may impact our ability to obtain
satisfactory levels of affordable insurance; cybersecurity threats
to the energy grid, storage and pipeline infrastructure, the
information and systems used to operate our businesses and the
confidentiality of our proprietary information and the personal
information of our customers and employees; actions of activist
shareholders, which could impact the market price of our securities
and disrupt our operations as a result of, among other things,
requiring significant time by management and our board of
directors; changes in capital markets, energy markets and economic
conditions, including the availability of credit; and volatility in
currency exchange, interest and inflation rates and commodity
prices and our ability to effectively hedge the risk of such
volatility; the impact of federal or state tax reform and our
ability to mitigate adverse impacts; changes in foreign and
domestic trade policies and laws, including border tariffs and
revisions to or replacement of international trade agreements, such
as the North American Free Trade Agreement or the United States-Mexico-Canada Agreement (subject
to congressional approval), that may increase our costs or impair
our ability to resolve trade disputes; expropriation of assets by
foreign governments and title and other property disputes; the
impact at San Diego Gas & Electric Company on competitive
customer rates and reliability of electric transmission and
distribution systems due to the growth in distributed and local
power generation and from possible departing retail load resulting
from customers transferring to Direct Access and Community Choice
Aggregation or other forms of distributed and local power
generation and the potential risk of nonrecovery for stranded
assets and contractual obligations; Oncor Electric Delivery Company
LLC's (Oncor) ability to eliminate or reduce its quarterly
dividends due to regulatory capital requirements and other
regulatory and governance commitments, including the determination
by a majority of Oncor's independent directors or a minority member
director to retain such amounts to meet future requirements; and
other uncertainties, some of which may be difficult to predict and
are beyond our control.
These risks and uncertainties are further discussed in the
reports that Sempra Energy has filed with the U.S. Securities and
Exchange Commission (SEC). These reports are available through the
EDGAR system free-of-charge on the SEC's website, www.sec.gov,
and on the company's website at www.sempra.com. Investors
should not rely unduly on any forward-looking statements. These
forward-looking statements speak only as of the date hereof, and
the company undertakes no obligation to update or revise these
forecasts or projections or other forward-looking statements,
whether as a result of new information, future events or
otherwise.
Sempra South American Utilities, Sempra North American
Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utility,
Oncor Electric Delivery Company LLC (Oncor) and Infraestructura
Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies
as the California utilities, San Diego Gas & Electric
Company (SDG&E) or Southern California Gas Company (SoCalGas),
and Sempra South American Utilities, Sempra North American
Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utility,
Oncor and IEnova are not regulated by the California Public
Utilities Commission.
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SOURCE Sempra Energy