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November 08, 2021

Sempra’s Dedication to Board Diversity

Submitted by fp-admin on Mon, 11/01/2021 - 13:37

At Sempra, we believe that diversity and inclusion within our teams brings a greater variety of perspectives, leads to better decision-making and creates superior outcomes for our businesses. This commitment to cultivating diverse voices starts with our board of directors.

“Inclusivity isn’t just a metric, it’s a mindset. At Sempra, we believe diversity allows for a much richer conversation, with varied viewpoints, and leads to better business decisions,” said Jennifer Jett, vice president, governance and corporate secretary.

“We’re proud of the progress we have made and are committed to further advancing our commitment to diversity throughout our family of companies. Fostering diversity and inclusion is important to good governance, it’s the right thing to do, and it just makes sense.”

Sempra’s 12-member board of directors is composed of 58 percent women and/or people of color. For the past 20 years, we have worked to improve gender diversity on the board with a sense of purpose. Remarkably, a 2020 Spencer Stuart U.S. Board Index report found that women represented only 28 percent of boards at Standard & Poor’s (S&P) 500 companies. Sempra’s board is 33 percent female.

Board celebrated for its diverse composition

Sempra’s position as a leader in promoting gender diversity in the boardroom was recently recognized by 50/50 Women on Boards, an organization driving the movement toward gender balance and diversity on corporate boards. The organization applauded Sempra and the accomplishments of its four female board members, Maria Contreras-Sweet, Bethany Mayer, Cynthia Walker and CJ Warner.

The October issue of Savoy Magazine recognizes William Jones in its “Most Influential Black Corporate Directors” roundup. Jones has served on the Sempra board since Sempra's inception in 1998 and on the SDG&E board for four years before that. The numbers for black directors serving on the S&P 500 boards are, fortunately, improving — with now 32 percent representation. That is up from 11 percent in 2019, according to a study by the Alliance of Board Diversity and the consulting firm Deloitte.

Adding to the list of accolades was the summer issue of Latino Leaders Magazine. Board members Andrés Conesa, Maria Contreras-Sweet and Pablo Ferrero were featured as Top Latinos in Energy in its May/June 2021 issue. The same issue also included Nelly Molina, Sempra’s vice president of investor relations. Incidentally, Latinos make up 18.5 percent of the U.S. population but hold only 3 percent of board seats on the 2020 Fortune 1000 list, according to a report by KPMG.

Committed to ongoing inclusiveness and diversity

Sempra is proud of its ability to foster a diverse board. Diversity is a crucial factor for thriving companies with engaged, high-performing workforces. Each of Sempra’s directors helps inform the company’s business and culture, including the policies that guide our operations.

“People may not be aware of how much the board influences the corporate culture,” Jett said. “A diverse board, with varied experiences and backgrounds, can help shape the tone and culture of the company and help ensure all voices are heard.”

As Sempra advances a better future for all, we are and will continue to be guided by our values to do the right thing, champion people and shape the future, and our vision to deliver energy with purpose. With a diverse team at the helm, we believe we can help solve some of our society’s most pressing challenges.