Supports the Fight Against Climate Change at
the Jersey Shore
Building on its track record of sustainability leadership, New
Jersey Resources (NYSE: NJR), a diversified energy company and
parent company of New Jersey Natural Gas (NJNG), marks Earth Day
with the launch of the Coastal Climate Initiative — a program aimed
at advancing climate change solutions to positively impact the
communities it serves.
The program kicks off with support for The Nature Conservancy in
New Jersey, an environmental nonprofit with over 60 years of
experience working to protect water and lands in New Jersey, and
their work to restore saltwater tidal wetlands in the Barnegat Bay
– part of NJNG’s service territory. The salt marsh islands in
Barnegat Bay and along the New Jersey shore are vital ecosystems
and have been identified by the New Jersey Department of
Environmental Protection as playing a critical role in the state
meeting its emissions reduction targets.
“As a business headquartered at the Jersey Shore and serving its
communities, combating climate change and helping advance the
state’s clean energy goals are top priorities for New Jersey
Resources,” said Steve Westhoven, president and CEO of New Jersey
Resources. “Through our Coastal Climate Initiative, we’re teaming
up with The Nature Conservancy in New Jersey to take action on
climate solutions that will restore precious natural habitats in
the Barnegat Bay, reduce emissions and make a real difference for
our communities on the front line of climate change.”
The Nature Conservancy, alongside a broad coalition of partners,
is advancing an innovative restoration technique that holds great
potential for large-scale renewal of struggling marshes in New
Jersey.
Coastal marshes act as “carbon sinks”, reducing emissions by
actively removing carbon from the atmosphere and safely
sequestering it away in the ground. They also act as a natural
barrier against climate impacts, reducing the impact of storm surge
and providing a barrier to help protect people and property in New
Jersey’s coastal communities.
“The support and partnership of New Jersey Resources comes at a
critical time as we look to expand our work and identify
restoration needs and plans for more than 80 marsh islands
throughout the Barnegat Bay,” said Dr. Barbara Brummer, state
director of The Nature Conservancy in New Jersey. “We thank New
Jersey Resources and their customers for taking action and
supporting this opportunity to make a real, long-term difference
combating the effects of climate change.”
The Coastal Climate Initiative builds on NJR’s support for The
Nature Conservancy in this effort, which began with an initial
$25,000 donation announced earlier this year.
How the Program Works:
Through the Coastal Climate Initiative, NJNG customers can join
this effort with a simple, on-bill donation option that will
directly support the salt marsh restoration and preservation
efforts being led by The Nature Conservancy in New Jersey.
To maximize the impact of their contributions, NJR will match
each customer donation dollar for dollar up to $50,000. All
donations go directly to The Nature Conservancy.
NJNG customers can donate to the Coastal Climate Initiative at
njng.com/climate.
NJR’s Record of Sustainability
Action
Today’s announcement builds on NJR’s strong record as a
sustainability and environmental leader across its businesses:
- Achieved its goal of a 50% reduction in its New Jersey
operational emissions from 2006 levels, 10 years ahead of schedule;
set a new, higher target of a 60% emissions reduction by 2030.
- Expected to make 50% of its more than $2.6 billion of capital
expenditures across NJR’s businesses in sustainability investments
over the next four years.
- NJNG has invested nearly $2 billion in its system over the last
decade, building the most environmentally sound natural gas
distribution system in the state, as measured by leaks per
mile.
- NJR has invested significantly in New Jersey’s clean energy
economy, as the largest solar owner and operator in New Jersey,
with 357 megawatts total installed capacity.
- Since 2009, NJNG invested nearly $220 million to help customers
install energy-efficient equipment.
- NJNG was also recognized today as an Environmental Champion by
Cogent Syndicated 2021 Utility Trusted Brand & Customer
EngagementTM Residential Study.
To learn more about NJR’s commitment to sustainability, visit
NJRSustainability.com.
Forward-looking
Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
Section 21E of the Securities Exchange Act of 1934, as amended, and
the Private Securities Litigation Reform Act of 1995. NJR cautions
readers that the assumptions forming the basis for forward-looking
statements include many factors that are beyond NJR’s ability to
control or estimate precisely, such as estimates of future market
conditions and the behavior of other market participants. Words
such as “anticipates,” “estimates,” “expects,” “projects,” “may,”
“will,” “intends,” “plans,” “believes,” “should” and similar
expressions may identify forward-looking statements and such
forward-looking statements are made based upon management’s current
expectations, assumptions and beliefs as of this date concerning
future developments and their potential effect upon NJR. There can
be no assurance that future developments will be in accordance with
management’s expectations, assumptions and beliefs or that the
effect of future developments on NJR will be those anticipated by
management. Forward-looking statements in this release include, but
are not limited to, certain statements regarding NJR’s climate
change initiatives and investments as well as NJR’s environmental,
sustainability and clean energy goals and emission reduction
targets.
Additional information and factors that could cause actual
results to differ materially from NJR’s expectations are contained
in NJR’s filings with the U.S. Securities Exchange Commission
(“SEC”), including NJR’s Annual Reports on Form 10-K and subsequent
Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K,
and other SEC filings, which are available at the SEC’s web site,
http://www.sec.gov. Information included in this release is
representative as of today only and while NJR periodically
reassesses material trends and uncertainties affecting NJR's
results of operations and financial condition in connection with
its preparation of management's discussion and analysis of results
of operations and financial condition contained in its Quarterly
and Annual Reports filed with the SEC, NJR does not, by including
this statement, assume any obligation to review or revise any
particular forward-looking statement referenced herein in light of
future events.
About New Jersey
Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000
company that, through its subsidiaries, provides safe and reliable
natural gas and clean energy services, including transportation,
distribution, asset management and home services. NJR is composed
of five primary businesses:
- New Jersey Natural Gas, NJR’s principal subsidiary,
operates and maintains over 7,500 miles of natural gas
transportation and distribution infrastructure to serve over half a
million customers in New Jersey’s Monmouth, Ocean, Morris,
Middlesex, and Burlington counties.
- NJR Clean Energy Ventures invests in, owns, and operates
solar projects with a total capacity of more than 357 megawatts,
providing residential and commercial customers with low-carbon
solutions.
- NJR Energy Services manages a diversified portfolio of
natural gas transportation and storage assets and provides physical
natural gas services and customized energy solutions to its
customers across North America.
- Storage & Transportation serves customers from local
distributors and producers to electric generators and wholesale
marketers through its ownership of Leaf River Energy Center and the
Adelphia Gateway Pipeline Project, as well as our 50% equity
ownership in the Steckman Ridge natural gas storage facility, and
our 20% equity interest in the PennEast Pipeline Project.
- NJR Home Services provides service contracts as well as
heating, central air conditioning, water heaters, standby
generators, solar and other indoor and outdoor comfort products to
residential homes throughout New Jersey.
NJR and its nearly 1,200 employees are committed to helping
customers save energy and money by promoting conservation and
encouraging efficiency through Conserve to Preserve® and
initiatives such as The SAVEGREEN Project® and The Sunlight
Advantage®. For more information about NJR:
www.njresources.com Follow us on Twitter @NJNaturalGas. “Like”
us on facebook.com/NewJerseyNaturalGas.
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version on businesswire.com: https://www.businesswire.com/news/home/20210422005738/en/
Media: Michael Kinney 732-938-1031
mkinney@njresources.com
Investors: Dennis Puma 732-938-1229
dpuma@njresources.com
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