California Water Service Group Shares Key Updates on Climate Strategy
SAN JOSE, Calif., Dec. 18, 2023 (GLOBE NEWSWIRE) — California Water Service Group (Group) (NYSE: CWT) today announced key updates for ongoing work to enhance its climate strategy. The company’s Mid-Year Climate Update is published online at www.calwatergroup.com/esg23-update.
Additionally, following the announcement of Group’s commitment to set absolute, science-based Scope 1 and Scope 2 GHG emissions reduction targets before the end of the third quarter of 2024, the company confirms that it is still on track to publish these goals next year and has included details on its progress in the mid-year update.
Key recent program highlights include:
- An increase in renewable energy consumption from less than 1 percent (of total energy consumed) in 2021 to 9 percent in 2022, as well as progress toward onsite solar energy deployment.
- Standardization of fleet vehicle management, intended to increase operational efficiency and reduce associated emissions.
- Completion of targeted regional Water Supply Reliability Studies and climate risk analyses to enhance Group’s understanding of salient climate-related risks and risk management opportunities.
“Climate action is a central part of our sustainability strategy and important to our long-term success as a steward of a life-essential resource,” said Marty Kropelnicki, Chairman and CEO. “Based on our engagement with stakeholders, including customers, communities, investors, and regulators, we believe we remain aligned—as climate action continues to be a priority for them as well. We are pleased to share our Mid-Year Climate Update to demonstrate our progress on our climate strategy to stakeholders as we seek to address these significant challenges for our business.”
To learn more about Group’s ESG efforts, visit www.calwatergroup.com/esg.
About California Water Service Group
California Water Service Group 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 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.
What sets Group apart is its commitment to enhancing the quality of life for its customers, communities, employees, and stockholders. Guided daily by their promise to provide quality, service, and value, Group’s 1,200+ employees lead the way in working to protect the planet, care for people, and operate with the utmost integrity. Integral to Group’s strategy is investing responsibly in water and wastewater infrastructure, sustainability initiatives, and community well-being. 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.
*California Water Service received the highest score in the West Large segment of the J.D. Power 2023 U.S. Water Utility Residential Customer Satisfaction Study of customers’ satisfaction nationally among water customers in the US. Visit jdpower.com/awards for more details.
This press release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this press release include Group’s commitments, 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 our ability to make ESG investments without the support of our 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. 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 commitments, objectives, goals, and targets or establish new ones to reflect changes in our business.