UGI Corp. Announces Commitment to Reduce Scope I GHG Emissions by 55% by 2025; Establishes Ambitious Safety Goals; & Advances...
May 14 2021 - 8:30AM
Business Wire
UGI Corporation (NYSE: UGI) announced today the release of its
third Environmental, Social and Governance (“ESG”) report titled,
The Foundation of a Renewable Energy Future. The ESG report is
available on UGI’s ESG website at (https://ugiesg.com/620-2/). The
report highlights UGI’s commitment to be a leader in the renewable
energy space by providing energy solutions that are sustainable,
reliable, and affordable. UGI has recently committed to reducing
its Scope I (direct) emissions by 55% over the next 5 years1 on its
path to align with international efforts to reduce carbon emissions
as outlined in the Paris Climate Accord. UGI will reduce its
emissions by investing in infrastructure and technology that lowers
methane and greenhouse gas (“GHG”) emissions, incorporating low or
zero carbon alternatives energy solutions such as compressed
natural gas (“CNG”), renewable natural gas (“RNG”), and bio-Gas
into our supply portfolio, transitioning our fleet to lower carbon
solutions, and the sale of non-core assets such as Conemaugh.
At UGI, safety is not only our top priority, it is one of our
core values and a way of life for us. UGI believes the achievement
of superior safety performance is an important short- and long-term
strategic initiative. We are proud to announce that we have
established two safety goals that we will report on annually, as
part of our ESG report:
- 35% Reduction in Total Recordable Injuries by 20252,3 (Per
200,000 hours; 2017 baseline)
- 50% Reduction in Accountable Vehicle Incidents (“AVI”) by
20254, 5,6 (Per 1,000,000 miles; 2017 baseline)
UGI embraces the diversity and uniqueness of individuals and
cultures and the varied perspectives they provide. In alignment
with UGI’s values to promote diversity, the Company recently
created the Belonging, Inclusion, Diversity, & Equity (“BIDE”)
Initiative, which provides the blueprint for achieving greater
diversity of gender, race, culture, experience and thought
throughout the organization. As part of BIDE, UGI employees
established Black Organizational Leadership & Development
(“BOLD”), an employee resource group that is focused on inclusion,
equity, education, and empowerment for black employees and their
allies through professional development opportunities created
through mentorships and networking events. We recognize that our
success depends upon the commitment and capabilities of a diverse
and inclusive workforce, therefore, beginning in Fiscal 2021, UGI
will include a diversity and inclusion goal as a component of its
executives’ target annual bonus award opportunity.
UGI has a long history of strengthening the communities we serve
both by providing financial assistance and supporting employee
volunteer efforts. UGI employees continued this tradition of
community support by donating over 37,000 hours to community-based
organizations and established new partnerships with the Urban
Affairs Coalition and Big Brothers Big Sisters. In addition, UGI
was recognized by the Philadelphia Business Journal as a winner of
the 2020 Faces of Philanthropy Awards Program for its sponsorship
with the Museum of the American Revolution’s citizenship
program.
John L. Walsh, President and Chief Executive Officer of UGI
Corporation said, “We are proud of the progress we have made on our
ESG initiatives and the publication of our 3rd ESG report. UGI is
well positioned to become a leader in the future of renewable
energy by providing energy solutions that are sustainable,
reliable, and affordable. Our strategic asset network and proven
competencies allow us to address growing customer demand, while our
teams continue to work hard at identifying new opportunities within
the renewable space. We are very proud to announce our ambitious
target to lower our direct carbon emissions by 55% over the next
five years and plan to provide insight into our evolving capital
expenditure program that features increasing investments in
renewable solutions.
“UGI remains equally focused on the social aspect of our
commitments to shareholders. We are pleased with the progress we
have made in our diversity and inclusion initiatives through the
establishment of BIDE and BOLD. By fostering an environment that
values diversity, we can leverage talent, unique perspectives, and
varying employee experiences to ensure continued long-term success.
UGI remains committed to providing enhanced disclosure and
communicating our progress on key ESG initiatives, as we continue
to provide value for our stakeholders.”
1 Scope 1 emissions reduction target does not include emissions
from the Mountaineer acquisition, which is expected to close in
2021. The emissions from the Pine Run acquisition, announced in
February 2021, will be included in the baseline 2020 number as this
investment will contribute to our five year goal. The 2020 base
number also takes a 5-year emissions average from the Hunlock
generation facility to account for year-over-year differences in
run time.
2All domestic UGI companies use the OSHA definition for Total
Recordable Injuries (“TRIR”). TRIR represents the number of
work-related injuries or illness’s requiring medical treatment
beyond first aid, per 200,000 hours.
3UGI International reports rates in accordance with the
Industrial Management System guidelines. A TRIR represents a
work-related recordable injury to an employee or hired staff that
requires medical treatment beyond first aid, as well as one that
causes death, or days away from work.
4UGI Utilities and UGI Energy Services use the American Gas
Association definition for AVI, which defines an AVI as a
reportable motor vehicle incident in which the driver failed to do
everything that reasonably could have been done to avoid the
incident.
5UGI International reports rates in accordance with the
Industrial Management System guidelines. An AVI represents an
incident that caused or contributed to, in whole or in part, by
actions of the company driver or contractor driver, or an incident
that could have been avoided by the company driver, using
reasonable defensive driving measures, which resulted in injury or
damage, either to the vehicle, or to the object struck, regardless
of value.
6AmeriGas defines an AVI as any incident that could have been
preventable.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products
and services. Through subsidiaries, UGI operates natural gas and
electric utilities in Pennsylvania, distributes LPG both
domestically (through AmeriGas) and internationally (through UGI
International), manages midstream energy assets in Pennsylvania,
Ohio, and West Virginia and electric generation assets in
Pennsylvania, and engages in energy marketing, including renewable
natural gas, in twelve states and the District of Columbia and
internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on
the Internet at https://www.ugicorp.com.
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