California Water Service Group Bolsters Environmental, Social, and Governance Program, Reaffirms Commitment to Safe and Reliable Water Supply for Communities
22 Maio 2024 - 5:15PM
As part of its dedication to enhancing the transparency of its
environmental, social, and governance (ESG) program, California
Water Service Group (Group or Company) (NYSE: CWT) today released
its 2023 ESG Report and ESG Analyst Download. The ESG Report—which
is aligned with recognized reporting frameworks and standards,
including the Sustainability Accounting Standards Board Water
Utilities & Services Industry Standards, the Recommendations of
the Task Force on Climate-Related Financial Disclosures, and the
Global Reporting Initiative Standards—details progress made by
Group’s subsidiaries on the Company’s ESG focus areas last year,
while the supplemental ESG Analyst Download provides key ESG data
and metrics.
This year’s ESG Report highlights both ongoing efforts to
support Group’s ESG strategy and objectives along with significant
achievements in 2023, such as how the Company is working to:
- Protect the planet, by committing to a
science-aligned target to reduce Scope 1 and 2 greenhouse gas
emissions by 63% by 2035 (from a 2021 base year); investing $383.7
million in infrastructure to deliver safe, reliable water to
customers; and saving close to 95 million gallons of water annually
by California customers implementing the Company’s conservation
programs last year.
- Serve customers, by achieving 100% compliance
with primary and secondary federal and state water quality
standards; applying for (and then receiving in 2024) $83 million in
funding from the California Extended Water and Wastewater Arrearage
Payment Program to relieve customers of past-due balances incurred
during part of the pandemic; and donating more than $1.5 million to
local community organizations.
- Engage its workforce, by investing $728,000 in
employee training and continuing education for an average of 13.6
hours of training per employee; doubling its veteran hiring rate
from 2022 to 8%; and awarding $10,000 in college scholarships to
children of employees.
- Govern with integrity, by maintaining an
engaged and diverse Board of Directors, with 36% gender diversity
and 18% ethnic diversity; discussing ESG-related matters throughout
the year at various committee meetings and with the full Board of
Directors; and spending 27.2% of net procurement with diverse
suppliers.
“Our ability to provide safe, reliable, and affordable water
service to our customers and communities every day is tied directly
to our commitment to ESG matters,” said Martin A. Kropelnicki,
Chairman and CEO. “Doing the right thing is already part of how we
operate day in and day out, and I am pleased with the strides we
continue to make in our ESG focus areas year over year.”
About California Water Service GroupCalifornia
Water Service Group (NYSE: CWT) is the largest regulated water
utility in the western United States. It provides high-quality,
reliable water and/or wastewater services to more than 2.1 million
people in California, Hawaii, New Mexico, Washington, and Texas
through its regulated subsidiaries, California Water Service,
Hawaii Water Service, New Mexico Water Service, and Washington
Water Service, and its utility holding company, Texas Water
Service.
Group’s purpose is to enhance the quality of life for customers,
communities, employees, and stockholders. To do so, it invests
responsibly in water and wastewater infrastructure, sustainability
initiatives, and community well-being. The company’s 1,200+
employees live by a set of strong core values and share a
commitment to protecting the planet, caring for people, and
operating with the utmost integrity. The company has been named one
of “America’s Most Responsible Companies” and the “World’s Most
Trustworthy Companies” by Newsweek and a Great Place to
Work®. More information is available
at www.calwatergroup.com.
This news release, the ESG Report and the ESG Analyst Download
(collectively, the ESG Disclosures) contain forward-looking
statements within the meaning established by the Private Securities
Litigation Reform Act of 1995. The forward-looking statements in
the ESG Disclosures include Group’s objectives, goals, targets,
progress, or expectations with respect to ESG, sustainability, and
corporate social responsibility matters, and business risks,
opportunities, and plans. Because they are aspirational and are
based upon currently available information, expectations, and
projections, they are subject to various risks and uncertainties,
including limitations on Group’s ability to make ESG investments
without the support of the Company’s regulators, and actual results
may differ. Because of this, Group advises all interested parties
to carefully read and understand Group’s disclosure on risks and
uncertainties found in Forms 10-K, 10-Q, and other reports filed
with the Securities and Exchange Commission (SEC). Group undertakes
no obligation to update any forward-looking or other statements,
whether as a result of new information, future events, or
otherwise, and notwithstanding any historical practice of doing so.
Group may determine to adjust any objectives, goals, and targets or
establish new ones to reflect changes in the Company’s
business.
Historical, current, and forward-looking ESG-related statements
and data in the ESG Disclosures may be based on standards for
measuring progress that are still developing, controls and
processes that continue to evolve, and assumptions that are subject
to change in the future. The information included in, and any
issues identified as material for purposes of, the ESG Disclosures
may not be considered material for SEC reporting purposes, and the
use of the term “material” in the ESG Disclosures is distinct from,
and should not be confused with, such term as defined for SEC
reporting purposes.
Due to the inherent uncertainty and limitations in measuring
greenhouse gas (GHG) emissions under the calculation methodologies
used in the preparation of such data, all GHG emissions or
references to GHG emissions in the ESG Disclosures are estimates.
There may also be differences in the manner that third parties
calculate or report GHG emissions compared to Group, which means
that third-party data or methodologies may not be comparable to
Group’s data or methodologies.
Website references and hyperlinks are provided for convenience
only, and the content on the referenced websites is not
incorporated by reference into, nor does it constitute a part of,
this news release.
Media ContactYvonne
Kingmanykingman@calwater.com310-257-1434
California Water Service (NYSE:CWT)
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