{"id":320421,"date":"2024-04-23T12:48:08","date_gmt":"2024-04-23T10:48:08","guid":{"rendered":"https:\/\/climatescience.press\/?p=320421"},"modified":"2024-04-23T12:48:11","modified_gmt":"2024-04-23T10:48:11","slug":"cfact-shareholder-activism-update-pseg-closes-shop-on-wind-expands-nuclear","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=320421","title":{"rendered":"CFACT shareholder activism update: PSEG closes shop on wind, expands nuclear"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"451\" data-attachment-id=\"320424\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=320424\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?fit=2560%2C1598&amp;ssl=1\" data-orig-size=\"2560,1598\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"00New-Jersey-Skyline-scaled-1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?fit=723%2C451&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?resize=723%2C451&#038;ssl=1\" alt=\"\" class=\"wp-image-320424\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?resize=1024%2C639&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?resize=300%2C187&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?resize=768%2C479&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?resize=1536%2C959&amp;ssl=1 1536w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?resize=2048%2C1278&amp;ssl=1 2048w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?resize=1200%2C749&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?w=1446&amp;ssl=1 1446w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?w=2169&amp;ssl=1 2169w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From <a href=\"https:\/\/www.cfact.org\/2024\/04\/20\/cfact-shareholder-activism-update-pseg-closes-shop-on-wind-expands-nuclear\/#\">CFACT<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By <a href=\"https:\/\/www.cfact.org\/author\/greg-neff\/\">Greg Neff<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Public Service Enterprise Group, Incorporated (PSEG) held its annual stockholders meeting last Tuesday, and CFACT (which holds shares in PSEG) was in attendance to ensure that the company isn\u2019t putting the radical green agenda ahead of the interests of its shareholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">PSEG is a publicly traded diversified energy company based in New Jersey. They control subsidiaries that provide electricity and natural gas to homes and businesses in that region. In recent years, PSEG looked to participate in offshore wind production, which caught the attention of CFACT leadership.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since purchasing stock in the company, which gives CFACT input in the company\u2019s business decisions, the Committee has continually provided steady pushback against the notion of PSEG embracing offshore wind in its portfolio.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This year\u2019s meeting saw all those efforts hit paydirt. PSEG CEO Ralph Larossa announced that following a review of their various subsidiaries, the company concluded that offshore wind \u201cdid not meet investor demands\u201d and was found to \u201cnot meet corporate expectations.\u201d The result of this analysis was that PSEG decided to sell off that sector of their business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, the company announced that its nuclear energy production plants were running at 93% capacity and that PSEG would be expanding on this area. While they won\u2019t be building new plants, Larossa said that the company plans to upgrade its existing facilities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although these are solid wins for CFACT, PSEG still has numerous areas in need of improvement. The utility provider will be installing another 800,000 intrusive \u201csmart meters,\u201d are increasing the number of government-subsidized EV chargers installed throughout their territory to help force a transition to EVs consumers don\u2019t want, and are wastefully spending $280 million to push New Jersey toward further decarbonization.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFACT plans to continue its monitoring and participation in corporate shareholder meetings to offset efforts by Green activists to push corporate America ever more to the Left.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Public Service Enterprise Group, Incorporated (PSEG) held its annual stockholders meeting last Tuesday, and CFACT (which holds shares in PSEG) was in attendance to ensure that the company isn\u2019t putting the radical green agenda ahead of the interests of its shareholders.<\/p>\n","protected":false},"author":121246920,"featured_media":320424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691828299,691828297,691828298],"class_list":{"0":"post-320421","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-no-radical-green-agenda","9":"tag-public-service-enterprise-group-pseg","10":"tag-stockholders-meeting","12":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/00New-Jersey-Skyline-scaled-1.jpg?fit=2560%2C1598&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1lm5","jetpack-related-posts":[{"id":325852,"url":"https:\/\/climatescience.press\/?p=325852","url_meta":{"origin":320421,"position":0},"title":"CFACT challenges Citigroup\u2019s \u201csustainable financing\u201d during shareholder meeting","author":"uwe.roland.gross","date":"05\/04\/2024","format":false,"excerpt":"Citigroup, among the more \u201cprogressive\u201d (i.e., woke) financial institutions in the world, held their annual stockholder\u2019s meeting on Tuesday. CFACT, which owns shares in the company, participated to ensure there was at least some pushback against this board\u2019s radical green agenda \u2013 a topic that actually wound up dominating the\u2026","rel":"","context":"In \"$1 Trillion Sustainable Finance Goal\"","block_context":{"text":"$1 Trillion Sustainable Finance Goal","link":"https:\/\/climatescience.press\/?tag=1-trillion-sustainable-finance-goal"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0Citi-tower-London.jpg?fit=1200%2C623&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0Citi-tower-London.jpg?fit=1200%2C623&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0Citi-tower-London.jpg?fit=1200%2C623&ssl=1&resize=525%2C300 1.5x, 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NZBA is a network that represents 40% of the global banking institutions that have come together to commit to\u2026","rel":"","context":"In \"CFACT\"","block_context":{"text":"CFACT","link":"https:\/\/climatescience.press\/?tag=cfact"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0JP-Morgan-Q3-FY20-Earnings-Call-2048x1152-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0JP-Morgan-Q3-FY20-Earnings-Call-2048x1152-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0JP-Morgan-Q3-FY20-Earnings-Call-2048x1152-1.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0JP-Morgan-Q3-FY20-Earnings-Call-2048x1152-1.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0JP-Morgan-Q3-FY20-Earnings-Call-2048x1152-1.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":256029,"url":"https:\/\/climatescience.press\/?p=256029","url_meta":{"origin":320421,"position":5},"title":"CFACT challenges ESG at BOA, CitiGroup shareholder meetings","author":"uwe.roland.gross","date":"05\/05\/2023","format":false,"excerpt":"As part of its Shareholder Accountability Project, CFACT attended the shareholder meetings of Bank of America and CitiGroup to act as a watchdog on the two large banking corporations.","rel":"","context":"In \"Bank of America\"","block_context":{"text":"Bank of America","link":"https:\/\/climatescience.press\/?tag=bank-of-america"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00iStock-1306922625-ESG-1536x922-1.jpg?fit=1200%2C720&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/320421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=320421"}],"version-history":[{"count":4,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/320421\/revisions"}],"predecessor-version":[{"id":320426,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/320421\/revisions\/320426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/320424"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=320421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=320421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=320421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}