“National Fuel is focused on continuous improvement in all aspects of our business, including our ESG initiatives and disclosures,” said
The Report, in response to discussions with the Company’s key stakeholders, includes significant additional disclosure related to climate risk in line with the
In connection with the Company’s enhanced climate-focused disclosures and ongoing efforts to lower its carbon footprint, National Fuel is establishing significant methane intensity reduction targets at each of its businesses, as well as an absolute greenhouse gas (GHG) emissions reduction target for the consolidated Company, each using a 2020 baseline.
- Exploration & Production: 40% reduction in methane intensity by 2030
- Gathering 30% reduction in methane intensity by 2030
- Pipeline & Storage: 50% reduction in methane intensity by 2030
- Utility: 30% reduction in methane intensity by 2030
Consolidated Company : 25% reduction in total GHG emissions by 2030
These targets are in addition to those established in March for the Company’s Utility delivery system, which aims to limit GHG emissions from the Utility segment’s mains and services by 75% by 2030, and 90% by 2050, both from 1990 levels.
National Fuel is a diversified energy company headquartered in
Cautionary Statements
Certain statements contained herein, including statements identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “believes,” “will,” “may,” and similar expressions, and statements other than statements of historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. While National Fuel’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. 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) National Fuel’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) National Fuel’s ability to estimate accurately the time and resources necessary to meet emissions targets; (3) disallowance by applicable regulatory bodies of appropriate 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) National Fuel’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 National Fuel’s most recent Annual Report on Form 10-K at Item 1A, as updated by National Fuel’s Forms 10-Q for subsequent quarters at Item 1A. National Fuel 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.
Analyst Contact:Kenneth Webster 716-857-7067 Media Contact:Karen Merkel 716-857-7654
Source:
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