WILLIAMSVILLE, N.Y., Sept. 09, 2024 (GLOBE NEWSWIRE) -- National Fuel Gas Company (National Fuel or the Company, NYSE: NFG) today released its 2023 Corporate Responsibility Report (Report), detailing the Company's policies, practices and performance metrics in key corporate responsibility and sustainability areas. An electronic version of the report is available by clicking here.
"At National Fuel, we are committed to being a responsible corporate partner in the communities where we live and work," said David P. Bauer, President & Chief Executive Officer of National Fuel Gas Company. "In 2023, we continued our ongoing efforts to reduce methane emissions, prioritize safety and focus on diversity and engagement initiatives that create positive impacts for our workforce and communities."
2023 Report Highlights:
- Absolute Emissions Reductions: Reducing consolidated methane emissions 17.1% and consolidated greenhouse gas emissions 5.6% from 2020.
- Continued Progress Towards Methane Intensity Targets: Progress toward 2030 methane intensity targets at each of our business segments ranging from 9.7% to 48.5% reductions.
- Responsible Natural Gas Certifications: Achievement of responsibly sourced gas designations to differentiate our production and gathering operations and provide independent, credible verification of our environmental, social and governance related policies, procedures and practices.
- Furthering Environmental Stewardship: Programs focused on biodiversity enhancement and wildlife conservation to improve habitats through restoration efforts and minimize impacts to ecologically sensitive areas.
- Focus on Inclusive Hiring and Career Development: Quantitative diverse hiring metrics and participation rates in leadership training programs in 2023.
National Fuel's 2023 Corporate Responsibility Report
The Company's Corporate Responsibility Report incorporates multiple 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). Against the backdrop of the numerous initiatives and commitments described in this Report, and overall strength of National Fuel's business, the Company's future is bright. National Fuel's integrated, diversified natural gas business provides the opportunity, across the value chain, to meet growing energy demand, and to do so by providing reliable, sustainable and affordable energy.
National Fuel Gas Company
National 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 Statements
All information included in this Corporate Responsibility Report ("Report") is being provided on a voluntary basis and, as such, the Company has customized certain sustainability standards and frameworks to our specific circumstances. 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 data included in this Report does not constitute financial data calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). This Report also contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, other than statements of historical facts, 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 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 applicable testing standards, reporting frameworks, and emissions targets, as well as the cost and availability of capital required for such projects; (2) evolving standards and frameworks, including those related to tracking and reporting GHG and methane emissions; (3) changes in the Company's business, including acquisitions or other expansions of the Company's property, plant and equipment; (4) disallowance by applicable regulatory bodies of appropriate rate recovery for system modernization; (5) the development and performance of new technology and products, services, and programs, particularly those related to energy efficiency and emission reductions; (6) governmental initiatives or market pressures to reduce or eliminate reliance on natural gas, and the viability of energy-transition related opportunities, including adaptation of the Company's existing assets; and (7) 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, in each case 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. Forward-looking and other statements in this Report regarding our plans and goals are not an indication that these statements are material to investors or are required to be disclosed in our filings with the Securities and Exchange Commission. 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: Natalie Fischer | 716-857-7315 Media Contact: Karen Merkel | 716-857-7654
