National Fuel Releases 2021 Corporate Responsibility Report Highlighting Significant Ongoing Sustainability Efforts
12 September 2022 - 10:10PM
National Fuel Gas Company (National Fuel or the Company, NYSE: NFG)
announced today the release of its 2021 Corporate Responsibility
Report (Report), providing details on the Company’s initiatives,
policies, programs, practices, and performance metrics in key
environmental, social, and governance (ESG) areas. The Report
highlights the Company’s continued focus on corporate social
responsibility across its operating footprint, driven by the
ongoing efforts of its workforce of more than 2,100 employees. An
electronic version of the report is available by clicking here.
“National Fuel remains focused on continuous improvement across
all facets of our organization, including our ESG initiatives,”
said David P. Bauer, President & Chief Executive Officer of
National Fuel Gas Company. “As we look ahead, our plan is to build
on these efforts by focusing on investments in emissions reducing
work practices, leveraging technology enhancements and exploring
low-carbon initiatives. Our ongoing ESG initiatives and results on
key metrics, highlighted below, provide the Company with a strong
foundation for continued success.”
Corporate Responsibility Report Highlights
Environmental Stewardship/Emissions Reduction
- Reduced Methane Intensity: substantial
progress against 2030 methane intensity targets at each of our
business segments, ranging from 5% decrease (Exploration &
Production) to 24% decrease (Pipeline & Storage)
- Corporate GHG Emissions Steady, Despite Significant
Growth: consolidated emissions profile remained flat
notwithstanding significant growth in the Company’s FERC-regulated
operations and continued production growth
- Responsible Natural Gas Certifications:
achieved certification of 100% of the Company’s natural gas
production under the MiQ and Equitable Origin standards
Social/Human Capital
- Continued Focus On Safety: Utility and
Pipeline & Storage businesses achieved an all-time best
combined safety record for their respective OSHA-recordable
incident metrics
- Committed to a Diverse and Inclusive
Workplace: In early 2022, Company launched four employee
resource groups to further engage underrepresented members of our
workforce
- Furthering Supplier Diversity: Utility
business increased its spending with diverse suppliers by 77%,
comparing calendar 2021 to calendar 2020
Corporate Governance
- Diverse and Independent Board of Directors:
Ten of the Company’s 11 directors (91%) are independent, with 27%
board diversity and an average tenure of less than 7 years
- Strong Corporate Governance Foundation:
Company has a designated Lead Independent Director, has separated
the roles of Chairman and Chief Executive Officer, and, by 2024,
will have completely moved to annual elections of directors
Community Impact
- Significant Charitable Contributions to Our
Communities: In 2021, the National Fuel
Gas Company, its Foundation and its employees donated more than
$1.8 million, bringing this total to over $23 million since
2005.
- Supporting our Communities During the COVID-19
Pandemic: continued to direct funding to support
nonprofits responding to the impacts of the pandemic, including
increased giving to food banks, human service and community
organizations, hospitals and first responders
About National Fuel’s 2021 Corporate Responsibility
ReportThe Company’s Corporate Responsibility Report
incorporates multiple best practice sustainability reporting
standards, guidelines and frameworks, in alignment with the
Sustainability Accounting Standards Board (SASB) and the Task Force
on Climate-Related Financial Disclosures (TCFD). In line with the
Company’s 2022 Climate Report, National Fuel continues to enhance
its disclosure surrounding governance of climate-related risks and
opportunities, the Company’s related risk management processes and
strategy to address those risks and opportunities, and the expected
resiliency of that strategy in the future. Additionally, the
Company has and will continue to disclose progress against targets
to highlight the Company’s progress on our sustainability
journey.
About National Fuel Gas CompanyNational Fuel is
a diversified energy company headquartered in Western New York that
operates an integrated collection of natural gas assets across four
business segments: Exploration & Production, Pipeline &
Storage, Gathering, and Utility. Additional information about
National Fuel is available at www.nationalfuel.com.
Cautionary Note on ESG Data and Forward-Looking
StatementsAll information included in this Corporate
Responsibility Report is being provided on a voluntary basis, and
as such, the Company has included and excluded certain topics to
customize the sustainability template to our specific needs.
The decision to include data for historical and
future years is at the discretion of the Company and its
subsidiaries, and the specific years used as a historical baseline
were chosen as appropriate for each reporting segment. The ESG data
included in this report does not constitute financial data
calculated in accordance with generally accepted accounting
principles (“GAAP”). This Corporate Responsibility Report also
contains “forward-looking statements” as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are all statements other than statements of historical
fact, as well as statements that are identified by the use of the
words “anticipates,” “estimates,” “expects,” “forecasts,”
“intends,” “plans,” “predicts,” “projects,” “believes,” “seeks,”
“will,” “may” and similar expressions. This Corporate
Responsibility Report and the statements contained herein are
submitted for the general information of Company stakeholders and
are not intended to induce any sale or purchase of securities or to
be used in connection therewith. While the Company’s expectations,
beliefs and projections are expressed in good faith and are
believed to have a reasonable basis, actual results may differ
materially from those projected in forward-looking statements.
Furthermore, each forward-looking statement speaks only as of the
date on which it is made. In addition to other factors, the
following are important factors that could cause actual results to
differ materially from those discussed in the forward-looking
statements: (1) the Company’s ability to estimate accurately the
time and resources necessary to meet the reporting and testing
standards applicable to the additional measures we expect to
include in future reports; (2) the Company’s ability to estimate
accurately the time and resources necessary to meet emissions
targets, (3) disallowance by applicable regulatory bodies of
appropriate rate recovery for system modernization, (4)
governmental/regulatory actions and/or market pressures to reduce
or eliminate reliance on natural gas, and (5) the other risks and
uncertainties described in (i) the Company’s most recent Annual
Report on Form 10-K at Item 7, MD&A, and Quarterly Reports on
Form 10-Q at Item 2, MD&A, under the heading “Safe Harbor for
Forward-Looking Statements,” and (ii) the “Risk Factors” included
in the Company’s most recent Annual Report on Form 10-K at Item 1A,
as updated by the Company’s Forms 10-Q for subsequent quarters at
Item 1A. The Company disclaims any obligation to update any
forward-looking statements to reflect events or circumstances after
the date hereof. Because of these risks and uncertainties, readers
should not place undue reliance on these forward-looking statements
or use them for anything other than their intended purpose. This
report contains references to National Fuel’s website and other
reporting documents. National Fuel is not incorporating this report
by reference into any other document and is not incorporating any
other document posted on the website into this report. Except where
specified, this report and the data presented have not been
externally audited, assured, attested or verified. The Company
makes no warranty, express or implied, regarding the accuracy,
adequacy, completeness, legality, reliability or usefulness of this
report.
Analyst Contact: Brandon Haspett | 716-857-7697
Media Contact: Karen Merkel | 716-857-7654
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