IRVING, Texas, June 22, 2020 /PRNewswire/ -- Vistra (NYSE:
VST) today announced that it is committing $10 million over the next five years to support
the advancement of minority communities.
"I think it is pretty simple: Companies have an obligation to
ensure an equitable workplace and to help our communities – whether
faced with a pandemic, a natural disaster, or inequality and social
injustice. Vistra does not see the issues plaguing our country
through a political lens; we see it through our people, our
communities, and our customers," said Curt
Morgan, president and CEO of Vistra. "We must acknowledge
that, for some people in our society, there are fewer opportunities
and resources, and we are determined to change that. It's the right
thing to do."
This investment is a reaffirmation and extension of existing
efforts, which focus on national, state, and local organizations
that grow minority-owned small businesses, enhance economic
development, and provide and improve educational opportunities for
students from diverse backgrounds. Today's announcement is
consistent with the key focus areas of the company's giving policy
and builds upon Vistra's donations in excess of $30 million over the past several years to
benefit low-income and minority communities.
"When deciding where to put our focus, we looked to those areas
where we believe Vistra can have the most impact – investing in
people through education and economic development. When small
businesses thrive in minority neighborhoods, they not only provide
access to goods and services to local residents, they can transform
communities for the better. As an electricity supplier to small
businesses, we want to see them flourish," Morgan continued. "We're
passionate about helping young people and developing the next
generation of professionals. It starts with access to quality
education."
Vistra is immediately making donations totaling nearly
$1.5 million to a number of proven
organizations that impact the communities where the company
operates. Ongoing donations will be made in the coming weeks,
months, and years.
Examples of Vistra's initial efforts include:
Small Businesses & Economic Development
- Providing immediate relief to rebuild minority-owned small
businesses and invest in their long-term growth through national
and state organizations and their local affiliates like the
National Minority Supplier Development Council, Black
Chambers of Commerce, and Hispanic Chambers of
Commerce
- Supporting the communities where Vistra has operations, through
the National Urban League and
its affiliates in Chicago,
Cincinnati, Columbus, Houston, St.
Louis, Pittsburgh, and
Philadelphia
- Expanding our mentoring and pro-bono consulting services for
minority-owned small businesses
Education
- Establishing endowed scholarships for historically black
colleges and universities (HBCUs) and those with significant
multi-cultural student bodies, including Prairie View A&M University, Paul Quinn College, and Texas State Technical College located in
Vistra's home state of Texas
- Advancing access to education and opportunities through the
United Negro College Fund in Dallas and Tarrant
County
- Fostering the educational advancement of Hispanic students
through the Hispanic Scholarship Fund
- Supporting early childhood literacy and kindergarten readiness
through our sustained and sizeable donations from our company and
employees to the United Way and its Strong Start
Initiative
- Partnering and volunteering with elementary schools in
low-income and minority communities
Vistra's Commitment to Diversity and Inclusion in the
Workplace
Vistra has long recognized the value of a diverse
workforce. The company has always aimed to create and maintain an
environment where differences are valued and respected, which
enhances Vistra's ability to recruit and retain the best talent in
the marketplace and to better understand and serve our
customers.
"It has been an emotional few weeks for the Vistra family and we
have had to reflect on where we are in our journey for social
justice and equity. The reality is that we all can and must do
more. We cannot delegate change to others; it starts with us. We
all spend a significant part of our lives working and we want to
work for a company that values us equally and provides a fair path
to achieving our career aspirations. To that end, we are doubling
down on our efforts to ensure our company culture is one where
there's mutual respect and each individual's unique characteristics
and skills are valued," said Morgan.
Internally, Vistra is holding sessions where members of the
leadership team come together in small groups with employees to
listen to their thoughts and experiences on race in their lives and
within the workplace.
"We recognize that our people, like people across the country,
are hurting and frustrated. They're also searching for ways to make
a difference and show support. It's important that we create a safe
space for our valued employees to talk about their experiences and
the role race has played in their careers, and to share ideas of
how Vistra can be better," said Carrie
Kirby, chief administrative officer for Vistra. "Our
leadership team is listening and learning, and we'll take what we
hear to better our formal diversity and inclusion policies and
programs in our workplace. We are convinced we will be a better
company for all of our stakeholders as a result."
Media
Meranda Cohn
214-875-8004
Media.Relations@vistraenergy.com
About Vistra
Vistra (NYSE: VST) is a
premier, integrated, Fortune 275 energy company based in
Irving, Texas, providing essential
resources for customers, commerce, and communities. Vistra combines
an innovative, customer-centric approach to retail with safe,
reliable, diverse, and efficient power generation. The company
brings its products and services to market in 20 states and the
District of Columbia, including
six of the seven competitive wholesale markets in the U.S. and
markets in Canada and Japan, as well. Serving nearly 5 million
residential, commercial, and industrial retail customers with
electricity and natural gas, Vistra is the largest competitive
residential electricity provider in the country and offers over 40
renewable energy plans. The company is also the largest competitive
power generator in the U.S. with a capacity of approximately 39,000
megawatts powered by a diverse portfolio including natural
gas, nuclear, solar, and battery energy storage facilities. In
addition, the company is a large purchaser of wind power. The
company is currently constructing a 400-MW/1,600-MWh battery energy
storage system in Moss Landing,
California, which will be the largest of its kind in the
world when it comes online. Vistra is guided by four core
principles: we do business the right way, we work as a team, we
compete to win, and we care about our stakeholders including
our customers, our communities where we work and live,
our employees, and our investors. Learn more about our
environmental, social, and governance efforts and read the
company's sustainability report
at https://www.vistraenergy.com/sustainability/
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SOURCE Vistra Energy