StockNews.AI
PCG
StockNews.AI
20 days

PG&E Provides $400,000 in Resilience Hubs Grants to Help Communities Address Climate and Disaster Needs

1. PG&E awarded $400,000 to seven organizations for climate resilience projects. 2. Over five years, PG&E granted $2 million for 35 community initiatives. 3. Resilience hubs help communities prepare for extreme weather and power outages. 4. The grants focus on projects aiding vulnerable and disadvantaged communities. 5. The program aims to enhance community preparedness during climate events.

8m saved
Insight
Article

FAQ

Why Bullish?

Increased funding for climate resilience can improve PG&E's public perception, potentially boosting stock prices. Historical trends show positive market reactions to corporate sustainability initiatives.

How important is it?

Investments in community resilience can enhance PG&E's operational stability and brand strength, leading to potential increases in customer loyalty and decreased regulatory scrutiny.

Why Long Term?

The ongoing commitment to climate resilience showcases future revenue potential and regulatory compliance, which can favor long-term stock performance.

Related Companies

SREEDNWE
A Total of $2 Million Has Been Awarded Since the Program Began , /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) has awarded seven community organizations a total of $400,000 to build climate resilience through its Resilience Hubs Grant program. Over five years, the program has awarded a total of $2 million to 35 grantees in PG&E's Northern and Central California service area. Grant recipients have included local or tribal governments and educational and nonprofit organizations. Communities across California face growing threats from extreme weather including coastal and inland flooding, heat waves, wildfires and more powerful storms. The resilience grants help communities create a physical space or provide resources for residents like power, shelter and information. Climate-driven disruptions can also include wildfires and safety-driven power shutoffs. These "resilience hubs" can be accessed year-round as a community resource. The city of Richmond, a past grant recipient, used its funding to create a community space powered by renewable energy. It provides shade, electricity and resources for at-risk community members during extreme weather events. [See a video of the Richmond Resilience Hub project.] "We are proud that our Resilience Hubs grant program has helped organizations taking the lead on building community-based climate resilience," said Carla Peterman, Executive Vice President, Corporate Affairs and Chief Sustainability Officer for PG&E Corporation. "Working together, these innovative and sustainable solutions will benefit our hometowns for years to come." This year's grants include four $25,000 grants (totaling $100,000) and three $100,000 grants (totaling $300,000). Grants are funded by PG&E Corporation shareholders as part of PG&E's investments in statewide wildfire resiliency and response, required by the California Public Utilities Commission. The five-year program has concluded with the distribution of this year's grant awards. Little Manila Rising in Stockton is one of this year's grant recipients. Its grant will help develop a resiliency center in an area where there are few community facilities. "This opportunity will allow us to plan for extreme weather scenarios and coordinate with other CBOs (community-based organizations) and public agencies to both prepare residents for and to mobilize for times of emergency," said Irene Calimlim, Little Manila Rising's community development director. Awards of $25,000 each for four Feasibility Projects. The grants will fund an assessment of resilience hub needs and/or conceptual ideas for a resilience hub. Grant awardees are: The Women's Building (City and County of San Francisco) – Conducting a feasibility study and community engagement to explore transforming their center into a climate resilience hub for San Francisco's Mission District. Contra Costa County (Contra Costa County) – Collaborating with Ambrose Recreation and Park District to assess and plan upgrades for the Ambrose Community Center as a resilience hub through community input and infrastructure planning. Café Puente (Sonoma County) – Developing a feasibility study and engaging Latino immigrant communities to evaluate how to provide emergency climate services in southern Sonoma County. GRID Alternatives Bay Area (Contra Costa County) – Exploring the design and installation of solar and battery storage at New Horizon's Center, guided by community priorities and service needs. Awards of $100,000 each for three Design and Build Projects. The grants will go toward the design and/or creation of a resilience hub. The organizations will either plan and design new physical spaces or mobile resources or retrofit existing buildings or structures to support community resilience. Grant awardees are: Shoong Family Chinese Cultural Center (Alameda County) – Retrofitting the center with HVAC and air filtration to serve as a climate-resilient, healthy gym space for Oakland's Chinatown community. Little Manila Rising (San Joaquin County) – Transforming a southwest Stockton center into a resilience hub with emergency preparedness plans, trainings, and collaborative response planning. Corazón Healdsburg (Sonoma County) – Enhancing resilience hub capabilities for low-income Latino families in northern Sonoma County by adding backup power, charging stations, and cooling center resources. Priority went to projects that address the needs of disadvantaged and/or vulnerable communities. Strategies and solutions resulting from the grants will be made public to help all communities and encourage local and regional partnerships. See the list of five years of awarded projects. About PG&E Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news. SOURCE Pacific Gas and Electric Company WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News