Equitrans Midstream Corporation (NYSE: ETRN) released its annual corporate sustainability report, which utilizes the Global Reporting Initiative's (GRI) ‘Consolidated Set of the GRI Standards 2021’ and continues to follow the Sustainability Accounting Standards Board (SASB) Oil & Gas Midstream reporting standards. The materiality assessment leveraged inputs from internal and external stakeholders and supplemental sources, including GRI, SASB, industry associations, agencies, and various sustainability frameworks to identify the Environmental, Social, and Governance (ESG) topics most significant to the Company’s business and stakeholders. The report can be viewed online: Equitrans' 2023 Corporate Sustainability Report.
“With a vision to be one of North America’s premier midstream services companies, we recognize, and appreciate, that our stakeholders expect us to continue focusing on long-term sustainable performance by managing the ESG factors that matter most," said Diana M. Charletta, Equitrans’ president and chief operating officer. “We embrace the importance of conducting business in a socially responsible and ethical manner — respecting our employees, communities, and business partners — and we are confident that our continued focus on sustainability creates enterprise value and distinctly positions Equitrans for success in a lower-carbon future.”
Highlights of Equitrans Midstream’s 2023 Corporate Sustainability Report:
- Adopting a formal Environmental Justice Policy to expand our project outreach efforts beyond regulatory requirements
- Expanding efforts to reduce methane and GHG emissions, such as converting 10 compressor sites from high-bleed pneumatics to low-bleed or air pneumatics, in addition to the 10 sites converted in 2021
- Providing corporate local giving donations and Equitrans Midstream Foundation grants totaling more than $1,710,000 to various organizations, the majority of which aligned with select United Nations Sustainability Development Goals
- Renaming certain Board committees to highlight the Company’s emphasis on sustainability and to better convey oversight of diversity and inclusion and workforce culture initiatives
- Joining other industry participants, in early 2023, as a founding member of the Appalachian Methane Initiative to further enhance methane monitoring throughout the Basin and facilitate additional methane emission reductions in the region
Looking ahead, the Company is progressing our alignment of our ESG reporting with the Task Force on Climate-related Financial Disclosures (TCFD) framework and is conducting two TCFD risk scenario analyses – physical risk and transition risk – during 2023. Sustainability is an essential component of Equitrans' social license to operate, requiring continued vigilance, commitment, and an unshakeable focus on its long-term vision to thrive in a lower-carbon future, not only as a company but as a member of the community.
About Equitrans Midstream Corporation
Equitrans Midstream Corporation has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located infrastructure assets in the Marcellus and Utica regions, Equitrans has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Basin. With a rich 140-year history in the energy industry, Equitrans was launched as a standalone company in 2018 with a vision to be the premier midstream services provider in North America. While working to meet America's growing need for clean-burning energy, Equitrans is proud of its environmental, social, and governance (ESG) practices, striving every day to preserve and protect the environment, provide an engaging workplace for its employees, support and enrich its local communities, and to deliver sustained value for customers and shareholders.
Equitrans Midstream releases 2023 CSR -- "Energy Progress for a Sustainable Future"