SRE's Unit SoCalGas Announces an Initiative to Reduce GHG Emissions

Group 1: Initiative Overview - Southern California Gas Company (SoCalGas), a unit of Sempra Energy, is launching a $1.5 million initiative to provide 50 fuel cards to fleet operators purchasing Class 8 heavy-duty natural gas trucks, valid from September 9 to December 8, 2024 [1][2] - Each $30,000 fuel card aims to reduce greenhouse gas (GHG) emissions in alignment with California Air Rescue Board's carbon neutrality goals [2] Group 2: Sempra Energy's Green Transition - Sempra Energy is actively working to reduce GHG emissions in the transportation sector by promoting cleaner energy sources and expanding liquefied natural gas (LNG) facilities [3] - The company is developing two new LNG export projects at its ECA Regas Facility, with ECA LNG Phase 1 expected to commence commercial operations in summer 2025 [4] Group 3: Sustainability Goals - SoCalGas' ASPIRE 2045 sustainability strategy aims for 50% of its fleet to run on alternative fuels by 2025 and 100% zero-emission vehicles by 2035, with 38% already using alternative fuels [5] - The initiative supports the transportation sector's shift from traditional fuels to cleaner options, promoting sustainable transportation globally [5] Group 4: Industry Context - The need for greater investment in green energy is emphasized as climate change effects become more evident, highlighting the importance of renewable energy sources [6] - Heavy-duty transportation significantly contributes to emissions, and initiatives like SoCalGas' fuel card program are crucial for accelerating the transition to sustainable energy [7] Group 5: Market Performance - Sempra Energy's stock has risen 18.3% in the past six months, outperforming the industry's growth of 16.2% [12]