2022 Report Showcases Continued Sustainability
Progress, Corporate Initiatives Driving Resiliency and Stakeholder
Value – All Aimed at Serving Appalachia First
PITTSBURGH, May 31, 2023
/PRNewswire/ -- CNX Resources Corp. (NYSE: CNX) today released its
annual Corporate Sustainability Report, highlighting its
industry-leading approach and strategy to innovation, community
engagement, and environmental performance, all aimed at driving
measurable results and value for its stakeholders.
"With our unique sustainable business model at the heart of
CNX's hyper-local value creation strategy, we continue to deliver
for all our stakeholders, especially communities across the
Appalachia region," said CNX President and CEO Nick Deiuliis.
As in previous years, given CNX's commitment to operational
transparency and stakeholder disclosure, the company's 2022 report
aligns with and incorporates standards from key frameworks,
including the Task Force on Climate-related Financial Disclosures
(TCFD), the Sustainability Accounting Standards Board (SASB), and
the Global Reporting Initiative (GRI) Standards.
"Our Appalachia First strategic vision and sustainable business
model guide our decision-making and actions, and our approach
enables progress for Appalachia while the region continues to
sustain CNX for the next generation. We believe this is the very
definition of sustainability and uniquely positions CNX in a
differentiated ESG performance class," added Mr. Deiuliis.
Key 2022 report highlights include:
Protecting & Improving Our Environment
- Reduced operational methane intensity by 32% in production
segment, by 52% in gathering & boosting segment, and a methane
reduction of 86,000 tons of CO2e since 2020;
- Captured 5.7 million metric tons of waste methane
CO2e, far more than what is emitted from our
activities;
- Advanced innovation and regional partnerships through New
Technologies segment to drive carbon capture and methane
abatement;
- Committed $7 million of capital
investment to methane reduction efforts in 2023, which we expect to
result in a further annualized methane reduction of 70,000 tons of
CO2e;
- Reused produced and other wastewater to minimize freshwater
needs;
- Continued ESG-linked executive pay tied to methane intensity
reduction targets through Long-Term incentive program.
Investing in Our Communities & Workforce
- $6.3 million invested in
communities in 2022 from CNX and the CNX Foundation;
- Pledged to invest $30 million
over six years through the CNX Foundation;
- 2022 Investments:
-
- $273 million in local small
businesses;
- $51 million in taxes and Impact
Fees;
- $566 million in capital asset
program.
- Committed 55% of total small business spend to companies within
operational area;
- Expanded the Mentorship Academy in its second year to 63
student participants representing 17 area high schools across six
regional counties;
- Welcomed eight area non-profit organizations and diverse, small
businesses to The HQ™ at CNX, aligning with the Tangible,
Impactful, Local mission of the CNX Foundation.
Aligning Performance, Enhancing Diversity, & Managing
Risk
- Diverse CEO direct reports, 32% diverse workforce
company-wide;
- Maintained employee compensation programs that align pay with
performance and extends across the entire organization;
-
- $174,000 median employee
income;
- Established WE@CNX, an employee resource group fostering a
diverse, inclusive workplace;
- Made substantial investments in talent, tools, and service
partners in 2022 to expand and mature cybersecurity programs,
including appointing a Chief Risk Officer;
- Increased board diversity with the addition of Robert Agbede;
- Director search process which ensures consideration of
candidates of gender and racial/ethnic diversity;
- Enhanced CNX Regulatory Reporting Group responsible for
regulatory and environmental compliance data management
processes.
To read this year's report and to learn more about CNX's unique
approach to sustainability, visit: sustainability.cnx.com.
About CNX Resources Corporation
CNX Resources Corporation (NYSE: CNX) is unique. We are a premier,
low carbon intensive natural gas development, production,
midstream, and technology company centered in Appalachia, one of
the most energy abundant regions in the world. With the benefit of
a 158-year regional legacy, substantial asset base, leading core
operational competencies, technology development and innovation,
and astute capital allocation methodologies, we responsibly develop
our resources and deploy free cash flow to create long-term per
share value for our shareholders, employees, and the communities
where we operate. As of December 31,
2022, CNX had 9.81 trillion cubic feet equivalent of proved
natural gas reserves. The company is a member of the Standard &
Poor's Midcap 400 Index. Additional information is available at
www.cnx.com.
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SOURCE CNX Resources Corporation