Equitrans Midstream Corporation (NYSE: ETRN) released its annual corporate sustainability report, which utilizes the Global Reporting Initiative's (GRI) newest ‘Consolidated Set of the GRI Standards 2021’ and continues to follow the Sustainability Accounting Standards Board (SASB) Oil & Gas Midstream reporting standards. Reflected in the report's content are the results of our 2022 materiality assessment, which, for the first time, included engaging both internal and external stakeholders. The assessment also leveraged inputs from 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' 2022 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 relevant ESG factors that matter most,” said Diana M. Charletta, Equitrans’ president and chief operating officer. “We believe that our continued commitment to sustainability, including minimizing impacts to the environment and society, will serve to create long-term value for all stakeholders. Sustainability performance is about knowing we, as a Company, are doing the right thing for future generations – serving Americans’ current and increasing needs for reliable, clean-burning energy and supporting our national security and energy independence.”
Highlights of Equitrans Midstream’s 2022 Corporate Sustainability Report:
- Expanding Sustainability Reporting: In addition to its 14 top-tier ESG material disclosures, Equitrans reports several ESG-related topics as parts of its sustainability framework, primarily due to their importance to the Company, including Diversity and Inclusion, Economic Impact, Energy Usage, Supply Chain Management and Human Rights, and Sustainability Governance.
- Sustainability Governance: With oversight by the Chief Sustainability Officer, Equitrans has a management-level ESG committee and seven ESG working groups to help implement and manage the day-to-day efforts and actions related to the Company's most material ESG and sustainability topics. Equitrans’ Board of Directors and its relevant committees review key ESG policies and commitments.
- Formalizing Commitments and Aspirations: In 2021, Equitrans made a concerted effort to formalize and communicate its many social commitments, including the adoption of a Supplier Code of Conduct, Human Rights Policy, and Stakeholder Engagement and Community Investment Policy. In addition, its United Nations Sustainable Development Goals Statement outlines aspirations to align operations with the relevant UN SDGs. Further, Equitrans' Climate Policy establishes a target to reduce the Company's Scope 1 and Scope 2 methane emissions by 50% by 2030; and its Biodiversity Statement details efforts to balance environmental stewardship with operational development.
- Environmental Stewardship: As part of Equitrans' methane reduction initiative, a pneumatic controller conversion program was implemented in 2021. Using the Company's 2019 baseline emissions inventory, and once the new equipment is operational for one full year, the project is expected to result in an annualized reduction of approximately 1,200 metric tons of methane, which represents an estimated 12% decrease from the baseline year.
- Strengthening Community Partnerships: In 2021, Equitrans invested more than $1,265,000 in roadway repairs/upgrades and, through its corporate giving program, donated $555,000 to support more than 65 community organizations. The Equitrans Midstream Foundation contributed $532,000 to 501(c)(3) organizations and an additional $382,000 in employee matching donations.
- Supporting the Economy: In 2021, Equitrans contributed $913 million in value-added contributions to the U.S. Gross Domestic Product and, in addition to 766 regular, full-time employees, the Company's business activities supported 9,362 ancillary jobs during the year.
- Safety and Environmental Leadership: Equitrans’ Zero Is Possible – Today platform is the manifestation of the Company's overriding belief that success is only realized when every contributor is safe and unharmed. The concept of Zero Is Possible also applies to Equitrans’ environmental efforts, such as minimizing methane releases, preventing spills, and ensuring regulatory compliance.
- Workforce Culture: Equitrans encourages employee participation in community service initiatives and offers a 'Volunteer Paid-Time-Off' program to support engagement and volunteerism. The Company's formal recognition program, 'Spotlight,' provides an avenue for employees to recognize one another for going the extra mile and routinely demonstrating Equitrans' Core Values.
- Diversity and Inclusion: During 2021, Equitrans' Inclusion Program offered several employee initiatives and learning opportunities designed to enhance the awareness, understanding, and importance of workplace inclusion. In addition, Equitrans’ Chairman and Chief Executive Officer, Thomas F. Karam, signed the Action for Diversity and Inclusion Coalition’s CEO Pledge, reiterating the organization's commitment to inclusiveness.
About Equitrans Midstream Corporation
Equitrans Midstream Corporation (ETRN) 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 assets in the Marcellus and Utica regions, ETRN 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 135-year history in the energy industry, ETRN was launched as a standalone company in 2018 with the vision to be the premier midstream services provider in North America. ETRN is helping to meet America’s growing need for clean-burning energy, while also providing a rewarding workplace and enriching the communities where its employees live and work.
For more information on Equitrans Midstream Corporation, visit www.equitransmidstream.com; and to learn more about our environmental, social, and governance practices visit ETRN Sustainability Reporting.