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PSEG Foundation Awards $1 Million to Montclair State University To Expand Green Teams Program

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The PSEG Foundation has awarded a $1 million grant to Montclair State University Foundation to expand the PSEG Institute for Sustainability Studies' Green Teams internship program. The two-year funding will enhance the program's ability to tackle environmental and climate challenges in New Jersey. Over the past decade, 420 students have completed over 350 real-world sustainability projects supporting 53 local communities, nonprofits, and companies. The grant will focus on supporting overburdened communities, providing advanced technology training (GIS, drone, VR/XR), and strengthening partnerships with minority-serving institutions. The funding will cover intern stipends, travel expenses, and advanced training by expert personnel.

La Fondazione PSEG ha assegnato una borsa di studio di 1 milione di dollari alla Fondazione dell'Università di Montclair State per ampliare il programma di tirocinio Green Teams dell'Istituto PSEG per gli Studi di Sostenibilità. Il finanziamento biennale migliorerà la capacità del programma di affrontare le sfide ambientali e climatiche nel New Jersey. Negli ultimi dieci anni, 420 studenti hanno completato oltre 350 progetti di sostenibilità nel mondo reale a supporto di 53 comunità locali, organizzazioni non profit e aziende. La borsa di studio si concentrerà sul supporto delle comunità sovraccaricate, fornendo formazione avanzata in tecnologia (GIS, droni, VR/XR) e rafforzando le partnership con istituzioni che servono minoranze. Il finanziamento coprirà le indennità per i tirocinanti, le spese di viaggio e la formazione avanzata da parte di personale esperto.

La Fundación PSEG ha otorgado una subvención de 1 millón de dólares a la Fundación de la Universidad Estatal de Montclair para expandir el programa de pasantías de Equipos Verdes del Instituto PSEG de Estudios de Sostenibilidad. La financiación de dos años mejorará la capacidad del programa para abordar los desafíos ambientales y climáticos en Nueva Jersey. En la última década, 420 estudiantes han completado más de 350 proyectos de sostenibilidad en el mundo real, apoyando a 53 comunidades locales, organizaciones sin fines de lucro y empresas. La subvención se centrará en apoyar a comunidades sobrecargadas, proporcionando formación avanzada en tecnología (GIS, drones, VR/XR) y fortaleciendo las asociaciones con instituciones que sirven a minorías. La financiación cubrirá los estipendios de los pasantes, los gastos de viaje y la formación avanzada por parte de personal experto.

PSEG 재단이 몬트클레어 주립대학교 재단에 100만 달러의 보조금을 수여하여 PSEG 지속 가능성 연구소의 그린 팀 인턴십 프로그램을 확장합니다. 2년 동안의 자금 지원은 뉴저지의 환경 및 기후 문제에 대처하는 프로그램의 능력을 향상시킬 것입니다. 지난 10년 동안 420명의 학생들이 53개의 지역 사회, 비영리 단체 및 기업을 지원하는 350개 이상의 실제 지속 가능성 프로젝트를 완료했습니다. 이 보조금은 과중한 부담을 가진 지역 사회를 지원하고, 고급 기술 교육(GIS, 드론, VR/XR)을 제공하며, 소수자 지원 기관과의 파트너십을 강화하는 데 초점을 맞출 것입니다. 자금은 인턴의 수당, 여행 경비 및 전문 인력의 고급 교육을 포함할 것입니다.

La Fondation PSEG a accordé une subvention de 1 million de dollars à la Fondation de l'Université d'Etat de Montclair pour développer le programme de stage des Équipes Vertes de l'Institut PSEG des Études de Durabilité. Ce financement sur deux ans renforcera la capacité du programme à relever les défis environnementaux et climatiques dans le New Jersey. Au cours de la dernière décennie, 420 étudiants ont réalisé plus de 350 projets de durabilité concrets au bénéfice de 53 communautés locales, d'organisations à but non lucratif et d'entreprises. La subvention mettra l'accent sur le soutien aux communautés surchargées, en fournissant une formation technologique avancée (SIG, drones, VR/XR) et en renforçant les partenariats avec les institutions au service des minorités. Le financement couvrira les bourses des stagiaires, les frais de déplacement et la formation avancée par des experts.

Die PSEG-Stiftung hat eine Förderung in Höhe von 1 Million Dollar an die Stiftung der Montclair State University vergeben, um das Praktikumsprogramm 'Green Teams' des PSEG Instituts für Nachhaltigkeitsstudien auszubauen. Die zweijährige Finanzierung wird die Fähigkeit des Programms verbessern, Umwelt- und Klimaherausforderungen im Bundesstaat New Jersey zu bewältigen. In den letzten zehn Jahren haben 420 Studierende über 350 realitätsnahe Nachhaltigkeitsprojekte zur Unterstützung von 53 lokalen Gemeinschaften, gemeinnützigen Organisationen und Unternehmen abgeschlossen. Die Förderung wird sich auf die Unterstützung überlasteter Gemeinschaften konzentrieren, fortgeschrittene Technologietrainings (GIS, Drohnen, VR/XR) bereitstellen und Partnerschaften mit Einrichtungen stärken, die Minderheiten bedienen. Die Finanzierung wird Stipendien für Praktikanten, Reisekosten und fortgeschrittene Schulungen durch Fachpersonal abdecken.

Positive
  • Secured $1 million grant funding for sustainability initiatives
  • Program has demonstrated success with 350+ completed projects across 53 organizations
  • Investment in advanced technology and training capabilities
  • Expansion of services to underserved communities at no cost
Negative
  • None.

Insights

The $1 million grant to Montclair State University, while commendable for environmental initiatives, has minimal direct impact on PSEG's financial performance or stock value. With a market cap of $44.5 billion, this foundation grant represents just 0.002% of the company's value. The Green Teams program, while beneficial for ESG metrics and community relations, is unlikely to materially affect PSEG's core utility operations or revenue streams.

The investment in sustainability education and community projects may provide long-term reputational benefits and help with regulatory compliance, but the financial impact is negligible. This type of corporate social responsibility initiative is standard practice for utility companies and is already factored into market expectations.

NORTHAMPTON, MA / ACCESSWIRE / November 21, 2024 / Public Service Enterprise Group (PSEG)
The funding will boost efforts at the PSEG Institute for Sustainability Studies to tackle environmental and climate challenges throughout New Jersey

Originally published by Montclair State University Foundation

The Montclair State University Foundation has been awarded a two-year, $1 million grant from the Public Service Enterprise Group (PSEG) Foundation to further develop and expand the PSEG Institute for Sustainability Studies' annual Green Teams internship program that serves communities and builds career success for undergraduate students. As the Green Teams celebrates its 10-year anniversary, this funding will enhance the program's ability to tackle environmental and climate challenges in New Jersey.

Since its inception, the Green Teams program has served as a platform for students to gain internships, green jobs and entry into graduate programs. Community partners host teams of undergraduate students, who conduct sustainability research, collect and analyze environmental and economic data, and make recommendations to help shift corporate and organizational culture toward sustainability.

To date, 420 students from across the country have completed over 350 real-world projects supporting 53 local communities, nonprofits, and both national and global companies in advancing their sustainability goals.

A Focus on Supporting Overburdened Communities and Organizations

One of the core objectives of the grant is to provide Green Team interns to New Jersey municipalities and nonprofit organizations that lack the resources to fund their own sustainability projects. These projects focus on promoting and achieving environmental justice. Funding will cover intern stipends, travel expenses for site visits and field trips, and advanced training by expert personnel. Outcomes from the community work the Green Teams have completed so far have informed and empowered communities to address flooding, food security, waste and other environmental issues.

Expanding Technology and Training

The grant will also support advanced technology and expertise to support the growing complexity of the sustainability projects, including empowering students with Geographic Information System (GIS), drone (UAV) and virtual reality (VR/XR) technologies.

Additionally, the program will expand the training of interns in professional communications and survey methods and will help strengthen partnerships with Historically Black Colleges and Universities, Hispanic-Serving Institutions, and community colleges.

"As the Green Teams program marks its 10th anniversary, we're excited to support the next phase of its growth. This partnership with Montclair State University strengthens our shared commitment to sustainability, while ensuring the benefits help reach New Jersey's most underserved communities," said Calvin Ledford Jr., President of the PSEG Foundation and Director of Corporate Social Responsibility. "The Green Teams program exemplifies the kind of innovative, hands-on experience that prepares students to tackle today's most pressing environmental challenges. It's a win-win, providing students with invaluable real-world experience while addressing critical needs across the state."

A Decade of Impact and Continued Growth

In celebrating a decade of its work, the PSEG Institute for Sustainability Studies will highlight alumni achievements, progress based on past projects and host celebratory and informative events.

Interviews with alumni and partner organizations will showcase how the Green Teams have influenced not only environmental sustainability efforts but also the personal and professional growth of the interns involved.

"We are excited to build on the decade of impact we have had supporting communities and educating students through our partnership with the PSEG Foundation," said Amy Tuininga, Director of the PSEG Institute for Sustainability Studies.

About the Green Teams Program

The Green Teams internship program assembles diverse teams of undergraduate students from a variety of academic majors, introducing them to subject-matter experts, professors and leaders addressing the world's most difficult challenges. Teams work in partnership with hosting organizations over a period of 10 weeks to develop solutions that advance the organizations' sustainability.

The teams have collaborated on a range of critical issues including reducing greenhouse gas emissions, addressing food insecurity, mitigating flood risks and assessing the environmental risk from artificial turf.

The program is supported by private philanthropic and federal sources, including the PSEG Foundation, Constellation, the National Science Foundation, U.S. Department of Agriculture and NASA.

Learn more about the PSEG Institute for Sustainability Studies and the PSEG ISS Green Teams Program.

The undergraduate application and corporate/agency application for the Summer 2025 Green Teams are now open.

Each summer, the PSEG Institute for Sustainability Studies Green Teams program helps community and corporate partners solve environmental and climate challenges. Shown, 2024 student interns present their solutions to environmental and health risks and benefits of grass versus artificial turf to city officials in Verona. (Photo by Mike Peters)

View additional multimedia and more ESG storytelling from Public Service Enterprise Group (PSEG) on 3blmedia.com.

Contact Info:
Spokesperson: Public Service Enterprise Group (PSEG)
Website: https://www.3blmedia.com/profiles/public-service-enterprise-group-pseg
Email: info@3blmedia.com

SOURCE: Public Service Enterprise Group (PSEG)



View the original press release on accesswire.com

FAQ

What is the value and duration of PSEG Foundation's grant to Montclair State University in 2024?

The PSEG Foundation awarded a two-year, $1 million grant to Montclair State University Foundation in 2024.

How many projects has the PSEG Green Teams program completed since its inception?

The Green Teams program has completed over 350 real-world projects supporting 53 local communities, nonprofits, and companies.

What new technologies will the PSEG Green Teams program implement with the grant funding?

The grant will support Geographic Information System (GIS), drone (UAV), and virtual reality (VR/XR) technologies.

How many students have participated in PSEG's Green Teams internship program to date?

420 students from across the country have participated in the Green Teams internship program.

Public Service Enterprise Group Incorporated

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