Pennsylvania natural gas and electric power distribution company, UGI Corporation, announced today it released its third Environmental, Social, and Governance (ESG) report. Besides, the company recalled it recently committed to reducing its Scope I (direct) emissions. Particularly, UGI aims to reduce them by 55% over the next five years.
Accordingly, UGI Corporation will invest in infrastructure and technology that lowers methane and greenhouse gas (“GHG”) emissions to reduce its GHG levels.
Read more of our news content, here: The Efforts towards Making Bitcoin Greener
UGI Corporation on its different sustainable commitments
Moreover, the company will incorporate low carbon alternatives energy solutions such as compressed natural gas (“CNG”), renewable natural gas (“RNG”), and bio-Gas into its supply portfolio. Remarkably, the natural gas major announced it decided to transition its fleet to lower carbon solutions. Also, UGI is selling some of its non-core assets; such is the case with its recent sale of Conemaugh to Montour, LLC.
In fact, UGI’s ESG report, The Foundation of a Renewable Energy Future, highlights the company’s commitment to be a leader in the renewable energy space. Notably, the firm aims to start providing energy solutions that are sustainable, reliable, and affordable.
Thus, starting this year, two safety goals will be included in the company’s report annually. First, a 35% Reduction in total recordable injuries by 2025. And second, a 50% Reduction in Accountable Vehicle Incidents (“AVI”) simultaneously.
The “S” part of the ESG commitment
On the Social part of the ESG commitment, the company highlighted in a press release; that it recently created the Belonging, Inclusion, Diversity, & Equity (“BIDE”) Initiative. Thus, this benchmark provides a blueprint for achieving greater diversity of gender, race, culture, experience, and thought throughout the organization.
For instance, as part of BIDE, UGI employees recently established the Black Organizational Leadership & Development (“BOLD”) group. Particularly, this initiative is focused on inclusion, equity, education, and empowerment for black employees and their allies.
Thus, “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,” the company’s press release states.
Similarly, 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. Moreover, we are delighted to announce our ambitious target to lower our direct carbon emissions by 55%; over the next five years. Besides, we plan to provide insight into our evolving capital expenditure program, which features increasing investments in renewable solutions.