Sempra Energy was named a finalist in the “Energy Transition” category of the 2018 Platts Global Energy Awards. The nomination recognizes the company’s leadership in reporting and reducing carbon impacts, striving for targets to manage performance, aiding in global energy transition commitments and demonstrating leadership within the community in innovative ways.
Sempra Energy’s efforts in sustainability are chronicled extensively in the company’s annual Corporate Sustainability Report. The report is compiled by the company’s corporate social responsibility & sustainability team led by Molly Cartmill, Sempra Energy’s director of corporate social responsibility.
Cartmill offered the following perspective on how the company’s commitment to sustainability and environmental, social and governance performance is more than just skin-deep.
Q: Why is Sempra Energy focused on sustainability?
A: Over the last decade we have been setting – and achieving – goals that advance our sustainable business model. When we reduce our environmental footprint, we positively impact customers, communities and other stakeholders. We have focused on reducing our impacts – from emissions and water usage to waste and transportation fuels – while also preparing for extraordinary weather-related events, such as drought, high winds, high heat and the potential for wildfires and in some areas, flooding.
These are all strong foundational reasons to embrace corporate sustainability. It has positioned us as a top-tier energy company with strong policies, disclosure practices and a disciplined approach to risk. Perhaps most importantly, it drives results across the enterprise: Each year, we make progress as we measure, describe and address our sustainability priorities and performance.
Q: How is Sempra Energy showing its commitment to a low-carbon transition?
A: Sempra Energy has aligned itself with a low-carbon business model. We decided long ago that increasing demand for lower-carbon energy sources held long-term promise. Today, climate concerns are, in fact, driving worldwide demand for low-carbon energy.
We are focused on developing and operating the infrastructure that will meet this growing demand, while enabling the delivery of lower-carbon sources of energy, like LNG and renewables, and playing an important role in supporting the global energy transition underway. This includes our efforts around system modernization, electrification and decarbonization, while continuing to minimize the impact of company operations on the environment.
Q: How is Sempra Energy making an impact on a global scale?
A: Global demand for low-carbon energy and related services continues to increase. In order to increase our ability to deliver on this demand, we are continually adapting. In addition, the lower-carbon energy that we deliver, like LNG, often displaces more carbon-intensive forms of energy, helping us make an impact on a global scale along with our business partners from Japan, Poland and most recently, France.
When you couple these inherent strengths with a leadership team that understands the trends shaping the future, we have a unique opportunity to help shape energy policy and lead the way in our industry by embracing a low-carbon future.
Q: What do the awards that recognize Sempra Energy’s efforts mean to the company?
A: Sempra Energy has earned top environmental, social and governance (ESG) performance ratings in our industry. These ratings can be meaningful to shareholders and potential investors, as our performance often drives inclusion in (or exclusion from) various indexes that investors monitor.
Company performance data is used by ESG analysts; it is a factor in the company’s ranking in comparison to its peer group. Investors also purchase and use this information in their own investment research and decision-making. These awards enhance our reputation and help us recruit and retain great employees. This recognition also enhances project development opportunities and helps prospective business partners, lenders and insurers get to know us.
In September, Sempra Energy was the only U.S. utility named to the Dow Jones Sustainability World Index. Sempra Energy is also one of six companies in the world on MSCI’s ESG Leaders Index. This recent recognition by S&P Global Platts is just another example of how Sempra Energy is being recognized for exceptional performance and influence during this transformative time in the energy industry.