A New Vision for Net-zero, 20 Years Ahead of Schedule
PSEG’s aggressive net-zero vision for 2030 reflects our recognition that the energy sector needs to get as clean as we can, as quickly as possible, if we’re to make progress against the rapidly intensifying impacts of climate change. PSEG has been a leader on climate initiatives for decades, and now the Biden administration’s objective of a carbon-free energy sector by 2035 signals a new national environment of support on climate issues.
Our nation is faced with big challenges and we need an ambitious strategy to tackle the climate crisis ahead. The Biden administration and leaders in Congress have spoken about the growing importance of climate issues, acknowledging the role the U.S. plays in the global movement to address climate change.
PSEG’s 2030 climate vision is aligned with this national course of action and exemplifies the blueprint we intend to follow over the next decade – driving out harmful emissions where they occur. PSEG’s new 2030 climate vision is one of the first and most aggressive such targets set by a large utility and power generator – and represents a significant acceleration from our previous net-zero goals. What’s groundbreaking about PSEG’s 2030 goal is its focus not only on power generation, but on operations across the company, such as reduced emissions from equipment, buildings and vehicles, and curtailed methane leaks throughout our utility infrastructure.
This new climate vision takes the view that 2030 is not simply a target date, but also the doorway to more robust debate, technological innovation and commitment to climate-focused policies that can help lead the energy industry toward permanent emissions-reduction measures and a more sustainable, low-carbon future.
It was just two years ago that PSEG announced its net-zero vision for 2050, which was focused on our PSEG Power fleet. At that time and still today, PSEG has one of the lowest carbon emissions rates in the energy sector. And that’s before the expected sale of our PSEG Fossil assets by the end of the year, which will drive down our emissions profile even further.
What I hope doesn’t go unnoticed, because it’s not as dramatic as building a wind farm or shutting down a coal plant, is the tremendous impact that progress on energy efficiency and electric vehicle infrastructure will have – helping to shrink customers’ carbon footprints and save money, while also reducing our own emissions.
Our combined energy efficiency and electric vehicle investments will help avoid tens of millions of metric tons of emissions over the long-term, with an opportunity to achieve even greater future reductions as we ramp up these programs over time and the grid becomes greener.
PSEG’s net-zero 2030 vision reinforces our commitment to environmental stewardship and represents a tremendous step toward our Powering Progress vision for the future – a vision of helping all of our customers use less energy, ensuring the energy they use is cleaner, and delivering that energy more reliably than ever before – that, supported by our net-zero 2030 goals and our business strategy, will continue us on the path to preventing the most damaging impacts of climate change and to adapt to those impacts that are already upon us.