SAN DIEGO, June 15, 2004 (PRIMEZONE) -- For the seventh consecutive year, Sempra Energy (NYSE:SRE), the energy services holding company and parent of Southern California Gas Co. and San Diego Gas & Electric, has earned a top spot on Fortune magazine's prestigious annual list of "America's Best Companies for Minorities," this year ranking No. 3. Fortune has ranked Sempra Energy among its top five diverse organizations every year since the magazine first introduced its list in 1998.
"We are proud to again be recognized by Fortune as one of 'America's 'Best Companies for Minorities,'" said Stephen L. Baum, chairman and chief executive officer of Sempra Energy. "This honor reflects a commitment from top to bottom in our organization to make diversity a high priority in our operations, so our workforce demographics and supplier network reflect the communities we serve."
Scheduled for publication in the June 28, 2004, issue of the magazine, Fortune has ranked 50 companies on how well minorities were represented at the highest executive levels, as well as their compensation and how closely bonuses were tied to progress on diversity. Fortune also examined the amount of money spent with minority-owned suppliers and charities.
As reported in Fortune's survey, 48 percent of Sempra Energy's general workforce and 30 percent of its managers were African-Americans, Asians, Hispanics and Native Americans. Minority representation on Sempra Energy's board of directors was 25 percent for the survey.
The amount of goods and services that Sempra Energy purchases from minority suppliers also contributed to its high ranking. In 2003, the Sempra Energy companies spent $180 million -- more than 22 percent of their total purchasing -- with minority-, woman- and service-disabled-veteran-owned businesses.
Sempra Energy's Office of Corporate Diversity Affairs manages workplace diversity at the company. This special entity successfully creates an environment in which employees of all races and ethnic backgrounds are valued and can use their unique perspectives to contribute to the business goals of the company, Sempra Energy officials said. The company also has a dedicated team that manages supplier diversity. The team conducts outreach programs and mentors minority-, woman- and service-disabled-veteran-owned businesses, helping Sempra Energy reduce costs, spark innovation and provide customers with the best products and services at competitive prices.
The full text of Fortune's "America's Best Companies for Minorities" is posted on the magazine's Web site at www.fortune.com/diversity.
Sempra Energy (NYSE:SRE), based in San Diego, is a Fortune 500 energy services holding company with 2003 revenues of $7.9 billion. The Sempra Energy companies' nearly 13,000 employees serve more than 10 million customers in the United States, Europe, Canada, Mexico, South America and Asia.