Southwestern Energy Releases 8th Annual Corporate Responsibility Report
November 16 2021 - 4:17PM
Business Wire
Report highlights SWN’s leading approach to ESG
performance, risk management and sustainable value creation
Southwestern Energy Company (NYSE: SWN) (the “Company” or
“Southwestern”) today released its 8th annual corporate
responsibility report. The report highlights the Company’s core
values of Environmental, Social and Governance (“ESG”) and health
and safety (“HSE”) underlying its comprehensive approach to
sustainable value creation from responsible natural gas
development. The report can be accessed at
www.swn.com/responsibility. Key report highlights include:
- Methane intensity 73% lower than 2025 ONE Future target;
- GHG intensity in top quartile among AXPC peers;
- Fifth consecutive year of fresh water neutrality, returning
14.3 billion gallons of fresh water to the environment in
communities where we work and live;
- Removed 1.3 million truck loads from roads since 2015 due to
integrated water management systems;
- Company record safety performance with Total Recordable
Incident Rate of 0.36 for employees and contractors;
- Over 30,000 hours of HSE employee training;
- Broadened diversity and inclusion initiatives, including a
women’s development program, partnerships with diversity-focused
organizations and leadership education and awareness sessions;
- Average women’s salary 104% of average men’s salary;
- 44% of board members are diverse (gender, nationality or
ethnicity);
- Expanded disclosures in line with GRI, TCFD and SASB reporting
frameworks;
- Increased weighting of ESG-related compensation metrics to 15%
of annual bonus;
- Commitment to obtain independent responsibly sourced gas (RSG)
certification and continuous emissions monitoring across its
Appalachia basin operations; and
- Announced expected ESG-related investment of $15 to $20 million
in 2022.
“The release of our 8th annual Corporate Responsibility report
underscores the importance of ESG and HSE as core values of
Southwestern Energy. Our approach to ESG aligns with our strategic
intent to be the preferred investment vehicle for institutional
investors looking to gain exposure to responsible natural gas
development,” said Bill Way, Southwestern Energy President and
Chief Executive Officer.
“SWN is continuously building on existing programs and
practices, such as fresh water neutrality, responsibly sourced gas
and our ONE Team HSE culture. The Company remains committed to
investing in projects to pursue further reduction of emissions,
assessing long-term emission goals and further progressing
diversity and inclusion initiatives. We’re confident these actions
will strengthen our leading position in the development of natural
gas which is foundational to a low-carbon future,” continued
Way.
About Southwestern Energy
Southwestern Energy Company (NYSE: SWN) is a leading U.S.
producer of natural gas and natural gas liquids focused on
responsibly developing large-scale energy assets in the nation’s
most prolific shale gas basins. SWN’s returns-driven strategy
strives to create sustainable value for its stakeholders by
leveraging its scale, financial strength and operational execution.
For additional information, please visit www.swn.com and
www.swn.com/responsibility.
Forward Looking Statement
Certain statements and information in this news release may
constitute “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Exchange Act, as amended. The words “believe,” “expect,”
“anticipate,” “plan,” "predict," “intend,” "seek," “foresee,”
“should,” “would,” “could,” “attempt,” “appears,” “forecast,”
“outlook,” “estimate,” “project,” “potential,” “may,” “will,”
“likely,” “guidance,” “goal,” “model,” “target,” “budget” and other
similar expressions are intended to identify forward-looking
statements, which are generally not historical in nature.
Statements may be forward looking even in the absence of these
particular words. Examples of forward-looking statements include,
but are not limited to our financial position, business strategy,
production, reserve growth and other plans and objectives for our
future operations, and generation of free cash flow. These
forward-looking statements are based on our current expectations
and beliefs concerning future developments and their potential
effect on us. The forward-looking statements contained in this
document are largely based on our expectations for the future,
which reflect certain estimates and assumptions made by our
management. These estimates and assumptions reflect our best
judgment based on currently known market conditions, operating
trends, and other factors. Although we believe such estimates and
assumptions to be reasonable, they are inherently uncertain and
involve a number of risks and uncertainties that are beyond our
control. As such, management’s assumptions about future events may
prove to be inaccurate. For a more detailed description of the
risks and uncertainties involved, see “Risk Factors” in our most
recently filed Annual Report on Form 10-K, subsequent Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K, and other SEC
filings. We do not intend to publicly update or revise any
forward-looking statements as a result of new information, future
events, changes in circumstances, or otherwise. These cautionary
statements qualify all forward-looking statements attributable to
us, or persons acting on our behalf. Management cautions you that
the forward-looking statements contained herein are not guarantees
of future performance, and we cannot assure you that such
statements will be realized or that the events and circumstances
they describe will occur. Factors that could cause actual results
to differ materially from those anticipated or implied in the
forward-looking statements herein include, but are not limited to:
the timing and extent of changes in market conditions and prices
for natural gas, oil and natural gas liquids (“NGLs”), including
regional basis differentials and the impact of reduced demand for
our production and products in which our production is a component
due to governmental and societal actions taken in response to
COVID-19 or other public health crises and any related company or
governmental policies and actions to protect the health and safety
of individuals or governmental policies or actions to maintain the
functioning of national or global economies and markets; our
ability to fund our planned capital investments; a change in our
credit rating, an increase in interest rates and any adverse
impacts from the discontinuation of the London Interbank Offered
Rate; the extent to which lower commodity prices impact our ability
to service or refinance our existing debt; the impact of volatility
in the financial markets or other global economic factors;
difficulties in appropriately allocating capital and resources
among our strategic opportunities; the timing and extent of our
success in discovering, developing, producing and estimating
reserves; our ability to maintain leases that may expire if
production is not established or profitably maintained; our ability
to transport our production to the most favorable markets or at
all; the impact of government regulation, including changes in law,
the ability to obtain and maintain permits, any increase in
severance or similar taxes, and legislation or regulation relating
to hydraulic fracturing, climate and over-the-counter derivatives;
the impact of the adverse outcome of any material litigation
against us or judicial decisions that affect us or our industry
generally; the effects of weather; increased competition; the
financial impact of accounting regulations and critical accounting
policies; the comparative cost of alternative fuels; credit risk
relating to the risk of loss as a result of non-performance by our
counterparties; and any other factors listed in the reports we have
filed and may file with the SEC that are incorporated by reference
herein. All written and oral forward-looking statements
attributable to us are expressly qualified in their entirety by
this cautionary statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20211116006360/en/
Brittany Raiford Director, Investor Relations (832) 796-7906
brittany_raiford@swn.com
Southwestern Energy (NYSE:SWN)
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