PG&E And Shasta County District Attorney Reach Settlement To Further Enhance Wildfire Safety; PG&E Has Committed To Continue Several Initiatives To Further Reduce The Risk Of Wildfires, And To Fund $45MIn Contributions To Numerous Organizations
Portfolio Pulse from Happy Mohamed
PG&E has reached a settlement with the Shasta County District Attorney, resolving legal proceedings related to the 2020 Zogg Fire. The agreement includes a commitment to continue wildfire risk reduction initiatives and fund $45 million in contributions to organizations dedicated to rebuilding and assisting Shasta County communities.
May 31, 2023 | 6:57 pm
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PG&E settles with Shasta County DA, resolving legal proceedings related to the 2020 Zogg Fire and committing to wildfire risk reduction initiatives and $45 million in contributions.
The settlement resolves legal proceedings related to the 2020 Zogg Fire, which could have had negative consequences for PG&E. The company's commitment to wildfire risk reduction initiatives and contributions to rebuild communities demonstrates corporate responsibility, which may improve its public image. However, the short-term impact on the stock price is uncertain, as the market may have already priced in the settlement.
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