1. PG&E contributes $1 million to food banks amidst rising need. 2. Donation provides approximately 3 million meals to underserved communities. 3. Total community food support this year reaches $2.37 million. 4. Record-breaking demand for food banks reported since the pandemic. 5. Contributions come from shareholders, not affecting customer rates.
FAQ
Why Neutral?
The contribution reflects PG&E's community engagement but doesn't directly affect financial performance.
How important is it?
Contributions improve public image but have limited immediate financial implications.
Why Short Term?
Immediate positive PR may boost sentiment, but long-term financial impacts are negligible.
PG&E Donates $1 Million to Local Food Banks Amid Rising Need
In a timely initiative for the holiday season, Pacific Gas and Electric Company (PG&E), trading under the symbol PCG, has announced a contribution of $1 million to support local food banks. This funding aims to assist the increasing number of individuals and families facing food insecurity across Northern and Central California.
Impact of PG&E's Contribution
The donation from PG&E will provide the equivalent of approximately 3 million meals to communities in need. This grant will support 38 food banks operating in 47 counties within PG&E's service area. This latest contribution marks the third time this year that PG&E or The PG&E Corporation Foundation has supported food banks, raising the total community food support for 2023 to $2.37 million.
Importantly, these funds are sourced from PG&E shareholders, ensuring that no customer funds are used for these charitable contributions.
Highlights from Food Bank Officials
According to officials at the California Association of Food Banks, there has been a historical surge in demand for food assistance, the highest levels seen since the pandemic. Stacia Levenfeld, CEO of the California Association of Food Banks, remarked, "California food banks experienced an unexpected surge with the federal government shutdown this fall. So, we reached out for help on their behalf and PG&E responded."
She also highlighted the significance of PG&E's generous support: "Their $1 million gift to food banks throughout Northern and Central California will have a meaningful impact on the lives of millions of people this holiday season and help food banks continue their critical work in our communities."
Continued Support from PG&E Corporation
Carla Peterman, Executive Vice President for Corporate Affairs at PG&E Corporation and Chair of The PG&E Corporation Foundation Board, expressed gratitude for the opportunity to aid local food banks. She stated, "We are grateful to help local food banks fulfill their mission during this time of increasing demand, especially as more families and seniors are struggling through the holiday season."
This year alone, the PG&E Foundation has allocated substantial funds to local organizations, including:
- $1.12 million awarded in September to local food banks, tribal food banks, and senior meal programs.
- $250,000 donated in November to support the Emergency Response Fund of the California Association of Food Banks.
Addressing Food Insecurity in California
Despite California being a leading producer of fruits and vegetables, the California Association of Food Banks reports that more than one in five residents struggles with food insecurity. Communities of color are disproportionately affected, facing higher levels of hunger.
The allocation of grant funds for local food banks is determined using a formula from the California Department of Social Services, which incorporates county poverty and unemployment rates to address equity issues.
About PG&E and Its Foundation
The PG&E Corporation Foundation operates as an independent 501(c)(3) nonprofit organization, distinct from PG&E, and is sponsored by PG&E Corporation. PCG, or Pacific Gas and Electric Company, is a leading utility provider serving over 16 million people across 70,000 square miles in Northern and Central California. For further details on PG&E's initiatives, please visit pge.com.