SAN
DIEGO, May 9, 2024 /PRNewswire/ -- Sempra (NYSE:
SRE) (BMV: SRE) today shared its 2023 Corporate Sustainability
Report – Ideas with Energy – highlighting how the
company's sustainable business practices are helping to improve its
scale, resiliency and risk profile, while also contributing to a
healthier, more secure and prosperous future for its
stakeholders.
"In many ways, the opportunity to improve health, well-being and
prosperity depends on the buildout and modernization of energy
infrastructure – and that is the focus of our corporate
strategy," said Jeffrey W.
Martin, chairman and CEO of Sempra. "The success of our
company is driven by our high-performance team that is motivated by
our shared values—do the right thing, champion people and shape the
future. We will continue to approach global energy challenges with
an entrepreneurial mindset, steadfast optimism and confidence in
our collective strength to deliver energy with purpose."
Sempra's three growth platforms – Sempra California, Sempra
Texas and Sempra Infrastructure – are strategically positioned in
significant economic markets where public policy supports increased
investment in transmission and distribution infrastructure. This
portion of the energy value chain is often viewed as critical to
enabling widespread adoption of clean transportation, greater
renewable penetration, and more reliable and resilient grids that
power growing economies.
In its 2023 corporate sustainability report, Sempra updated its
sustainable business strategy to reflect three areas that are
pivotal to meeting these evolving market needs:
- Investing in safe and resilient operations: Sempra prioritizes
investments designed to strengthen the safety and resilience of its
energy networks.
- Engaging people and communities: Sempra fosters a
high-performance culture built on ethical business practices and
responsible engagement with our communities and stakeholders.
- Innovating for the future: Sempra advances commercial,
technology, regulatory and policy innovations to better serve the
evolving needs of customers and society at large.
"Our updated strategy is a testament to our proactive efforts to
help build a more agile, resilient and sustainable business for all
our stakeholders," said Lisa Larroque
Alexander, senior vice president of corporate affairs and
chief sustainability officer of Sempra. "This report showcases the
collective efforts and ingenuity of our employees, suppliers,
business partners and customers who join together to advance a
better future for all."
The sustainability report is part of the company's ongoing
stakeholder engagement program which also includes its Annual
Shareholder Meeting, being held virtually today, as well as with
robust discussions throughout the year with employees, policy
makers, shareholders and other stakeholders.
View the full report and learn more about our sustainability
journey at:
www.sempra.com/2023-corporate-sustainability-report.
About Sempra
Sempra (NYSE: SRE) is a leading North American energy
infrastructure company focused on delivering energy to nearly 40
million consumers. As owner of one of the largest energy networks
on the continent, Sempra is electrifying and improving the energy
resilience of some of the world's most significant economic
markets, including California,
Texas, Mexico and global energy markets. The company
is recognized as a leader in sustainable business practices and for
its high-performance culture focused on safety and operational
excellence, as demonstrated by Sempra's inclusion in the Dow Jones
Sustainability Index North America and in The Wall Street Journal's
Best Managed Companies. More information about Sempra is available
at sempra.com and on social media @Sempra.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on assumptions about the
future, involve risks and uncertainties, and are not guarantees.
Future results may differ materially from those expressed or
implied in any forward-looking statement. These forward-looking
statements represent our estimates and assumptions only as of the
date of this press release. We assume no obligation to update or
revise any forward-looking statement as a result of new
information, future events or otherwise.
In this press release, forward-looking statements can be
identified by words such as "believe," "expect," "intend,"
"anticipate," "contemplate," "plan," "estimate," "project,"
"forecast," "envision," "should," "could," "would," "will,"
"confident," "may," "can," "potential," "possible," "proposed," "in
process," "construct," "develop," "opportunity," "preliminary,"
"initiative," "target," "outlook," "optimistic," "poised,"
"positioned," "maintain," "continue," "progress," "advance,"
"goal," "aim," "commit," or similar expressions, or when we discuss
our guidance, priorities, strategy, goals, vision, mission,
opportunities, projections, intentions or expectations.
Factors, among others, that could cause actual results and
events to differ materially from those expressed or implied in any
forward-looking statement include: California wildfires, including potential
liability for damages regardless of fault and any inability to
recover all or a substantial portion of costs from insurance, the
wildfire fund established by California Assembly Bill 1054, rates
from customers or a combination thereof; decisions, investigations,
inquiries, regulations, denials or revocations of permits,
consents, approvals or other authorizations, renewals of
franchises, and other actions, including the failure to honor
contracts and commitments, by the (i) California Public Utilities
Commission (CPUC), Comisión Reguladora de Energía, U.S. Department
of Energy, U.S. Federal Energy Regulatory Commission, Public
Utility Commission of Texas, U.S.
Internal Revenue Service and other regulatory bodies and (ii) U.S.,
Mexico and states, counties,
cities and other jurisdictions therein and in other countries where
we do business; the success of business development efforts,
construction projects, acquisitions, divestitures, and other
significant transactions, including risks related to (i) being able
to make a final investment decision, (ii) completing construction
projects or other transactions on schedule and budget, (iii)
realizing anticipated benefits from any of these efforts if
completed, (iv) obtaining third-party consents and approvals and
(v) third parties honoring their contracts and commitments;
macroeconomic trends or other factors that could change our capital
expenditure plans and their potential impact on rate base or other
growth; litigation, arbitrations, property disputes and other
proceedings, and changes to laws and regulations, including those
related to tax and trade policy and the energy industry in
Mexico; cybersecurity threats,
including by state and state-sponsored actors, of ransomware or
other attacks on our systems or the systems of third parties with
which we conduct business, including the energy grid or other
energy infrastructure; the availability, uses, sufficiency, and
cost of capital resources and our ability to borrow money or
otherwise raise capital on favorable terms and meet our
obligations, including due to (i) actions by credit rating agencies
to downgrade our credit ratings or place those ratings on negative
outlook, (ii) instability in the capital markets, or (iii) rising
interest rates and inflation; the impact on affordability of San
Diego Gas & Electric Company's (SDG&E) and Southern
California Gas Company's (SoCalGas) customer rates and their cost
of capital and on SDG&E's, SoCalGas' and Sempra
Infrastructure's ability to pass through higher costs to customers
due to (i) volatility in inflation, interest rates and commodity
prices, (ii) with respect to SDG&E's and SoCalGas' businesses,
the cost of meeting the demand for lower carbon and reliable energy
in California, and (iii) with
respect to Sempra Infrastructure's business, volatility in foreign
currency exchange rates; the impact of climate and sustainability
policies, laws, rules, regulations, trends and required
disclosures, including actions to reduce or eliminate reliance on
natural gas, increased uncertainty in the political or regulatory
environment for California natural
gas distribution companies, the risk of nonrecovery for stranded
assets, and uncertainty related to emerging technologies; weather,
natural disasters, pandemics, accidents, equipment failures,
explosions, terrorism, information system outages or other events,
such as work stoppages, that disrupt our operations, damage our
facilities or systems, cause the release of harmful materials or
fires or subject us to liability for damages, fines and penalties,
some of which may not be recoverable through regulatory mechanisms
or insurance or may impact our ability to obtain satisfactory
levels of affordable insurance; the availability of electric power,
natural gas and natural gas storage capacity, including disruptions
caused by failures in the transmission grid, pipeline system or
limitations on the withdrawal of natural gas from storage
facilities; Oncor Electric Delivery Company LLC's (Oncor) ability
to reduce or eliminate its quarterly dividends due to regulatory
and governance requirements and commitments, including by actions
of Oncor's independent directors or a minority member director; and
other uncertainties, some of which are difficult to predict and
beyond our control.
These risks and uncertainties are further discussed in the
reports that Sempra 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
Sempra's website, www.sempra.com. Investors should not rely unduly
on any forward-looking statements.
Sempra Infrastructure, Sempra Infrastructure Partners, Sempra
Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética
Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the
California utilities, SDG&E or
SoCalGas, and Sempra Infrastructure, Sempra Infrastructure
Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova
are not regulated by the CPUC.
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SOURCE Sempra