PG&E Corporate Responsibility and Sustainability Report 2018

PG&E Chapter 11 Update

Message from the CEO and President

To Our Stakeholders:

PG&E has long dedicated itself to the shared values of sustainability. Now, as we continue on that path and contend with the new realities of delivering energy in a changing climate, we must also confront profound issues of our own.

Potential liabilities from devastating wildfires, including the most destructive blaze in California’s history, prompted PG&E Corporation and its operating utility to file for Chapter 11 bankruptcy protection. The integrity of our gas and electric infrastructure has come under intense scrutiny as part of our federal probation following a prior criminal conviction. And we have acknowledged that our conduct in one of our gas safety programs fell short of our own ethical standards.

As a result, we know we have lost the trust of many of our customers, communities, and stakeholders. Through our actions, we are working hard to regain their trust by delivering steady performance, sustained over time.

But another kind of trust is also at stake. We understand that the gravity of PG&E’s situation may cause some to question whether our sustainability efforts could falter, or be scaled back.

I assure you they will not. Our commitments to California’s clean energy and climate goals are as strong as ever, and we will continue to honor and meet them—both throughout the bankruptcy process and beyond. We are resolved to run our business sustainably, and to help our communities build resilience against climate threats, cope with their disruptions, and restore normalcy as quickly as possible.

These are not contingent obligations. They are fundamental to what our company is about, and the reason it exists—which is to serve our customers and make their lives better. The 16 million people who rely on PG&E for gas and electric service are also depending upon us to adapt to the changing conditions in California, particularly the rising threat of wildfires and extreme weather.

We know there is much we need to do to become the company our customers expect and deserve. But just as we will not compromise on safety, we will not retreat on sustainability.

We invite you to hold us accountable for these promises. And we welcome your feedback on our plans and our progress.

Sincerely,
William D. Johnson
CEO and President
PG&E Corporation