PSEG's CEO Ralph Izzo: Climate Change Response Presents Opportunities for Economic Growth
Posted on: Friday, 12 September 2008, 12:00 CDT
NEWARK, N.J., Sept. 12 /PRNewswire-FirstCall/ -- Ralph Izzo, PSEG chairman and CEO, in a keynote speech today at the Newark Green Future Summit, called climate change "the greatest environmental challenge of our time" and said it presented a solid opportunity for growth in New Jersey, especially its cities.
Izzo spoke at a conference spearheaded by the Clinton Global Initiative to promote sustainable economic development and discussion about the "greening" of Newark's economy and community.
"Climate change is not only the greatest environmental challenge of our time, it's an opportunity for economic and community development," Izzo said. "We have capital that we are ready to invest, in projects that will require an expanded workforce. The opportunities for residents of our cities will be immense."
Izzo noted that cities have the potential to become hubs of the growing green economy, as long as they have access to energy efficiency, renewable energy and the jobs that will deliver them.
He detailed PSEG's plans to weatherize homes and businesses in Newark and Trenton, develop a 350-megawatt wind farm off the coast of southern New Jersey, and expedite investment in solar power statewide. All of these initiatives, he said, will create new green jobs.
Izzo also discussed the company's workforce development efforts, which include the creation of a green energy academy dedicated to preparing high school students for green collar jobs and the expansion of the energy utility technology degree programs being offered with several New Jersey colleges.
"We are looking to form new partnerships with government, community groups, educational institutions, military and others on initiatives that will prepare New Jersey residents for green jobs of the future."
PSE&G provided significant support for the Newark Green Future Summit, which drew local and national leaders, organizations and experts to the New Jersey Institute of Technology for two days. The conference concludes tomorrow.
To read the speech in its entirety, please go to the "Recent News" section of http://www.pseg.com/.
Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company with annual revenues of more than $12 billion, and three principal subsidiaries: PSEG Power, PSEG Energy Holdings, and Public Service Electric and Gas Company (PSE&G). PSEG Power, one of the largest independent power producers in the U.S. has three main subsidiaries: PSEG Fossil, PSEG Nuclear, and PSEG Energy Resources & Trade. PSEG Energy Holdings has two main unregulated energy-related businesses: PSEG Global and PSEG Resources. PSE&G, New Jersey's oldest and largest regulated gas and electric delivery utility, serves nearly three-quarters of New Jersey's population.
Public Service Enterprise Group (PSEG)
CONTACT: Jenn Kramer, Public Service Enterprise Group (PSEG),+1-973-430-6027
Web site: http://www.pseg.com/
Source: PRNewswire-FirstCall
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