PSEG announced two initiatives Friday, to assist small business and another to address racial inequitis.
PSEG and the PSEG Foundation announced the launch of the Powering Equity and Social Justice initiative and a $1-million commitment to support organizations that address racial injustice, inequality and human rights in communities of color. The Powering Equity and Social Justice initiative will provide philanthropic support to organizations in New Jersey, New York and anywhere PSEG operates.
On Long Island, PSEG-LI’s new Main Street Revitalization grant will continue helping small businesses adjust to new public health requirements as commercial districts reopen for business. The program will offer funding of up to $5,000 to a Chamber of Commerce or Business Improvement District.
The grant, which will reimburse these groups, is to be used for, but not limited to, outdoor seating, outdoor tables, outdoor lighting, durable safety materials, and signage.
PSEG said it was reaffirming its pledge to increase its business with diverse suppliers – those owned by minorities, women, veterans, service-disabled veterans and LGBTQ+ entrepreneurs – to at least 30% of the company’s applicable supplier spend by 2023.
“These initiatives and commitments provide an opportunity for PSEG to take action and stand in solidarity with our customers, communities and employees in pursuit of needed change,” said Ralph Izzo, PSEG chairman, president and CEO. “By supporting organizations that champion justice and social equity, and by increasing support for our growing network of diverse suppliers, we hope to foster change and make a difference in the many diverse communities we serve.”
The new Powering Equity and Social Justice initiative is designed to support organizations that work to address racism and advance social and economic equity for communities of color. PSEG also is seeking to develop and strengthen partnerships with organizations dedicated to social justice and building bridges between law enforcement and communities.
“PSEG has always had a unique and special relationship with the communities we serve, and today we take this a step further by more directly powering equity and social justice to address the prejudice, hate and injustice we too often observe,” said Rick Thigpen, PSEG’s senior vice president for Corporate Citizenship and president of the PSEG Foundation. “When one of us is impacted in the PSEG community, we are all impacted. Therefore, it’s vital that we all join together to act and build a framework of equity, compassion, and respect that will truly benefit us all. For that reason, our company stands ready to support organizations that address racial injustice, inequality and human rights in communities of color in order to build a brighter future for everyone.”
PSEG’s increased supplier diversity goals will help to foster access to equitable opportunities. PSEG has developed relationships with a broad base of diverse suppliers, which includes those owned by minorities, women, veterans, service-disabled veterans and LGBTQ+ entrepreneurs.
“PSEG helps drive the economies of the states where we do business,” Izzo said. “It’s critical that our suppliers represent our incredibly diverse customers and communities.”
During the past year, the company has conducted diversity and inclusion training for its leaders and employees. In recent weeks, the company has fostered critical and candid conversations across its workforce. For the first time, PSEG provided every employee with paid time off Friday in recognition of the Juneteenth holiday.
PSEG said Friday that the new Main Street Revitalization grant to continue helping small businesses adjust to new public health requirements as commercial districts reopen for business. The program will offer funding of up to $5,000 to a Chamber of Commerce or Business Improvement District.
The grant, which will reimburse these groups after the purchases are made, is to be used for, but not limited to, outdoor seating, outdoor tables, outdoor lighting, durable safety materials, and signage.
PSEG Long Island’s Main Street Revitalization grants support projects that will stimulate economic activity in downtown business districts on Long Island and in the Rockaways.
“We created the Main Street Revitalization Program because we know that small businesses are the backbone of Long Island’s economy. If they thrive, we all thrive,” said John Keating, manager of economic development for PSEG Long Island. “The pandemic has affected businesses in many ways, and the intent of this new program is to help them succeed, as our communities reopen for business.”