AKRON, Ohio, May 20, 2021 /PRNewswire/ -- For the third
consecutive year, FirstEnergy Corp. (NYSE: FE) has been recognized
by DiversityInc as one of the top utilities in the nation for its
workforce diversity and inclusion initiatives. The company was also
included on DiversityInc's Environmental, Social and Governance
(ESG) and Philanthropy lists for the first time.
"Being named to three of DiversityInc's lists this year shows
that we are living our core value of Diversity and Inclusion and
making an impact both in the workplace and in our communities,"
said Christine L. Walker,
FirstEnergy's senior vice president and chief human resources
officer. "We continue to build a diverse, high-performing and
innovative workforce that better reflects the diversity of the
customers we serve, helping us to achieve our mission of making
customers' lives brighter, the environment better and our
communities stronger."
Each year, DiversityInc evaluates companies based on survey
responses that detail the makeup of their workforce, talent
programs, leadership accountability, workplace practices,
philanthropy and supplier diversity. An overall Top 50 list is
developed from the survey data, and subsets of the same data are
used to determine several specialty lists.
To determine its ESG list, DiversityInc considers factors such
as human capital metrics, talent and workplace programs and
practices, corporate social responsibility, supplier diversity
programs and spend, and leadership and governance practices.
Included in FirstEnergy's Strategic Plan is a commitment to
achieving 20% of its supply chain spend with diverse suppliers by
2025 through an expanded Supplier Diversity Program. Additionally,
the company has set a goal to increase the number of employees from
underrepresented racial and ethnic groups, both overall and at the
supervisor-and-above leadership level, by 30% by 2025 through an
enhanced recruiting strategy and hiring processes.
More information on FirstEnergy's ESG efforts, including steps
the company is taking to foster economic development and community
support to meet the distinct needs of the diverse populations in
its service area, improve the environmental impact of its
operations, increase transparency with stakeholders and drive
accountability throughout the company, is available at
www.fecorporateresponsibility.com.
From a philanthropy perspective, approximately 15% of
FirstEnergy's annual giving through its corporate and foundation
programs is to support diverse and inclusive organizations, based
on 2020 contributions. The FirstEnergy Foundation extends the
company's corporate philosophy of providing community support,
including championing organizations and initiatives that serve
diverse populations, advance social justice and promote an
inclusive and sustainable future. Last summer, the FirstEnergy
Foundation launched "Investing with Purpose," an initiative focused
on supporting nonprofit organizations that advance health and
safety, workforce development, educational and social justice
initiatives.
The mission of DiversityInc is to bring education and clarity to
the business benefits of diversity. The DiversityInc Top 50
Companies for Diversity list began in 2001, with more than 1,800
companies who submitted materials for consideration in the 2021
program. To view DiversityInc's specialty lists as well as the Top
50 list, visit www.diversityinc.com/top50.
FirstEnergy is dedicated to integrity, safety,
reliability and operational excellence. Its 10 electric
distribution companies form one of the nation's largest
investor-owned electric systems, serving customers in Ohio, Pennsylvania, New
Jersey, West Virginia,
Maryland and New York. The company's transmission
subsidiaries operate approximately 24,000 miles of
transmission lines that connect the Midwest and Mid-Atlantic
regions. Follow FirstEnergy online
at www.firstenergycorp.com and on
Twitter @FirstEnergyCorp.
Forward-Looking Statements: This press release
includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 based on
information currently available to management. Such statements are
subject to certain risks and uncertainties and readers are
cautioned not to place undue reliance on these forward-looking
statements. These statements include declarations regarding
management's intents, beliefs and current expectations. These
statements typically contain, but are not limited to, the terms
"anticipate," "potential," "expect," "forecast," "target," "will,"
"intend," "believe," "project," "estimate," "plan" and similar
words. Forward-looking statements involve estimates, assumptions,
known and unknown risks, uncertainties and other factors that may
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements, which may
include the following: the effectiveness of our ongoing discussions
with the U.S. Attorney's Office of the S.D. Ohio to resolve its investigation with respect
to us; the results of the internal investigation and evaluation of
our controls framework and remediation of our material weakness in
internal control over financial reporting; the risks and
uncertainties associated with government investigations regarding
Ohio House Bill 6 and related matters including potential adverse
impacts on federal or state regulatory matters including, but not
limited to, matters relating to rates; the potential of
non-compliance with debt covenants in our credit facilities due to
matters associated with the government investigations regarding
Ohio House Bill 6 and related matters; the risks and uncertainties
associated with litigation, arbitration, mediation and similar
proceedings; legislative and regulatory developments, including,
but not limited to, matters related to rates, compliance and
enforcement activity; the ability to accomplish or realize
anticipated benefits from strategic and financial goals, including,
but not limited to, maintaining financial flexibility, overcoming
current uncertainties and challenges associated with the ongoing
government investigations, executing our transmission and
distribution investment plans, greenhouse gas reduction goals,
controlling costs, improving our credit metrics, strengthening our
balance sheet and growing earnings; economic and weather conditions
affecting future operating results, such as a recession,
significant weather events and other natural disasters, and
associated regulatory events or actions in response to such
conditions; mitigating exposure for remedial activities associated
with retired and formerly owned electric generation assets; the
ability to access the public securities and other capital and
credit markets in accordance with our financial plans, the cost of
such capital and overall condition of the capital and credit
markets affecting us, including the increasing number of financial
institutions evaluating the impact of climate change on their
investment decisions; the extent and duration of COVID-19 and the
impacts to our business, operations and financial condition
resulting from the outbreak of COVID-19 including, but not limited
to, disruption of businesses in our territories, volatile capital
and credit markets, legislative and regulatory actions, including
the vaccine's efficacy and the effectiveness of its distribution;
the effectiveness of our pandemic and business continuity plans,
the precautionary measures we are taking on behalf of our
customers, contractors and employees, our customers' ability to
make their utility payment and the potential for supply-chain
disruptions; actions that may be taken by credit rating agencies
that could negatively affect either our access to or terms of
financing or our financial condition and liquidity; changes in
assumptions regarding economic conditions within our territories,
the reliability of our transmission and distribution system, or the
availability of capital or other resources supporting identified
transmission and distribution investment opportunities; changes in
customers' demand for power, including, but not limited to, the
impact of climate change or energy efficiency and peak demand
reduction mandates; changes in national and regional economic
conditions affecting us and/or our major industrial and commercial
customers or others with which we do business; the risks associated
with cyber-attacks and other disruptions to our information
technology system, which may compromise our operations, and data
security breaches of sensitive data, intellectual property and
proprietary or personally identifiable information; the ability to
comply with applicable reliability standards and energy efficiency
and peak demand reduction mandates; changes to environmental laws
and regulations, including, but not limited to, those related to
climate change; changing market conditions affecting the
measurement of certain liabilities and the value of assets held in
our pension trusts and other trust funds, or causing us to make
contributions sooner, or in amounts that are larger, than currently
anticipated; labor disruptions by our unionized workforce; changes
to significant accounting policies; any changes in tax laws or
regulations, or adverse tax audit results or rulings; and the risks
and other factors discussed from time to time in our SEC filings.
Dividends declared from time to time on FirstEnergy Corp.'s common
stock during any period may in the aggregate vary from prior
periods due to circumstances considered by FirstEnergy Corp.'s
Board of Directors at the time of the actual declarations. A
security rating is not a recommendation to buy or hold securities
and is subject to revision or withdrawal at any time by the
assigning rating agency. Each rating should be evaluated
independently of any other rating. These forward-looking statements
are also qualified by, and should be read together with, the risk
factors included in FirstEnergy Corp.'s filings with the SEC,
including but not limited to the most recent Annual Report on Form
10-K and any subsequent Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K. The foregoing review of factors also should
not be construed as exhaustive. New factors emerge from time to
time, and it is not possible for management to predict all such
factors, nor assess the impact of any such factor on FirstEnergy
Corp.'s business or the extent to which any factor, or combination
of factors, may cause results to differ materially from those
contained in any forward-looking statements. FirstEnergy Corp.
expressly disclaims any obligation to update or revise, except as
required by law, any forward-looking statements contained herein or
in the information incorporated by reference as a result of new
information, future events or otherwise.
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SOURCE FirstEnergy Corp.