CANONSBURG, Pa., Oct. 13, 2021 /PRNewswire/ -- CONSOL Energy
Inc. ("CONSOL," NYSE: CEIX) today advanced its Forward Progress
sustainability initiative with the announcement of targets to
reduce its direct operating greenhouse gas emissions. The Company
has set an interim goal to reduce its direct operating greenhouse
gas emissions (referred to as scope 1 and scope 2 emissions) on an
absolute basis by 50% over a five year period (or by the end of
2026), compared to 2019 baseline levels and measured as the rate of
carbon dioxide equivalents (CO2e) emitted. In addition,
the Company announced its long-term efforts to achieve net zero
direct operating greenhouse gas emissions by 2040 or sooner if
feasible.
"Since becoming an independent company in 2017, we've
prioritized ESG and outlined goals to enhance employee safety,
reduce environmental impacts, and create sustainable value," said
CONSOL Energy President and Chief Executive Officer Jimmy Brock. "We continue to emphasize those ESG
aspects of greatest impact to CONSOL, our stakeholders, and the
environment. Developing direct operating greenhouse gas emission
reduction targets puts our ESG approach into action and reflects
our Board of Directors' and management team's dedication to
continuous improvement."
CONSOL Energy's interim greenhouse gas emission reduction target
is expected to be achieved through multiple initiatives, including
energy management and operational efficiency efforts. Primary to
achieving this goal is the expansion of the Company's methane
destruction program, which has been piloted at the Pennsylvania
Mining Complex since 2017. Our pilot program has proven that this
endeavor will lead to meaningful direct operating emissions
reductions. CONSOL's long-term ambition envisions multiple
initiatives across our entire operating footprint, starting with
full-scale deployment of methane abatement equipment. The 2040
target is also expected to be informed by the Company's strategic
initiatives and partnerships, which aim to develop the technologies
needed to achieve global aspirational greenhouse gas emission
reduction goals. While the targets announced today are limited to
direct operating greenhouse gas emissions, CONSOL continues to
invest in research that could positively impact indirect (or scope
3) emissions in the future, if successful. This includes, for
example, the Company's U.S. Department of Energy sponsored
21st Century Power Plant project and multiple projects
seeking to develop advanced building materials from coal, which
support a reduction in indirect emissions.
Dan Connell, CONSOL's Senior Vice
President of Strategy, said, "We are excited to be among the first
pure play coal companies to set greenhouse gas emission reduction
targets. Today's announcement underscores our commitment to
sustainability, complements our technology, growth, and
diversification initiatives and exemplifies the alignment of
CONSOL's strategy and ESG management approach."
The Company firmly believes our world-class asset base will
continue to be relied upon for the foreseeable future to meet the
world's electricity and infrastructure needs, supporting social
objectives and catalyzing economic progress. Having been awarded
Bettercoal Supplier status, we believe our commitment to deploy
robust ESG operating practices will help ensure that we carry out
this role responsibly and sustainably. CONSOL Energy remains
intentionally focused on leveraging innovation while maintaining
our stated financial priorities to create sustainable value for the
Company and its stakeholders.
More information about CONSOL Energy's emissions reduction
efforts and environmental, social and governance performance can be
found at www.consolenergy.com/sustainability.
About CONSOL Energy Inc.
CONSOL Energy Inc. (NYSE: CEIX) is a Canonsburg, Pennsylvania-based producer and
exporter of high-Btu bituminous thermal coal and metallurgical
coal. It owns and operates some of the most productive longwall
mining operations in the Northern Appalachian Basin and is
developing a new metallurgical coal mine (the Itmann project) in
the Central Appalachian Basin. CONSOL's flagship operation is the
Pennsylvania Mining Complex, which has the capacity to produce
approximately 28.5 million tons of coal per year and is comprised
of 3 large-scale underground mines: Bailey, Enlow Fork, and Harvey.
The company also owns and operates the CONSOL Marine Terminal,
which is located in the port of Baltimore and has a throughput capacity of
approximately 15 million tons per year. In addition to the ~658
million reserve tons associated with the Pennsylvania Mining
Complex and the ~21 million reserve tons associated with the Itmann
project, the company also controls approximately 1.5 billion tons
of greenfield thermal and metallurgical coal reserves located in
the major coal-producing basins of the eastern United States. Additional information
regarding CONSOL Energy may be found at www.consolenergy.com.
Contacts:
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Investor:
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Nathan Tucker, at
(724) 416-8336
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nathantucker@consolenergy.com
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Media:
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Kurt Salvatori, at
(724) 416-8319
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kurtsalvatori@consolenergy.com
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Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this press release are "forward-looking
statements" within the meaning of the federal securities laws and
speak only as of the date of this press release. While these
forward-looking statements reflect CEIX expectations at the date of
this press release, they are not guarantees or predictions of
future performance or statements of fact. With the exception of
historical matters, the matters discussed in this press release are
forward-looking statements (as defined in Section 21E of the
Securities Exchange Act of 1934, as amended) that involve risks and
uncertainties that are unknown and, therefore, could cause actual
results, performance, or achievements to differ materially from
results, goals and achievements projected in or implied by such
forward-looking statements. Accordingly, investors should not place
undue reliance on forward-looking statements as a prediction of
actual results. The forward-looking statements may include
projections and estimates concerning the timing and success of
specific short term and long term emission reduction targets, the
role of specific technologies in reducing carbon emissions, and
CEIX's role in contributing to global social and environmental
goals. When we use the words "anticipate," "believe," "could,"
"continue," "estimate," "expect," "intend," "may," "plan,"
"predict," "project," "should," "will," or their negatives, or
other similar expressions, the statements which include those words
are usually forward-looking statements. All statements other than
statements of historical facts included in this press release are
forward-looking statements. When we describe strategy that involves
risks or uncertainties, we are making forward-looking statements.
Past performance cannot be relied on as a guide to future
performance. We have based these forward-looking statements on our
current expectations and assumptions about future events. While our
management considers these expectations and assumptions to be
reasonable, they are inherently subject to significant business,
economic, competitive, regulatory and other risks, contingencies
and uncertainties, most of which are difficult to predict and many
of which are beyond our control. Specific risks, contingencies and
uncertainties include but are not limited to changes in laws and
regulations including international treaties and laws and
regulations regarding greenhouse gas emissions and carbon costs
actions, including changes with respect to tax policy, emissions
credits, carbon offsets and carbon pricing; trade patterns and the
development and enforcement of local, national and regional
mandates; unforeseen technical or operational difficulties; the
outcome of research efforts and future technology developments,
including the ability to scale projects and technologies on a
commercially competitive basis and our ability to take advantage of
those innovations and developments; the effectiveness of our risk
management strategies, including mitigating climate-related risks;
our ability to identify and execute opportunities, and the economic
viability of those opportunities, including those relating to
methane destruction; the ability of our existing assets and
expertise to support the growth of, and transition to,
various energy opportunities, including through the
positioning and optimization of our assets; our ability to
efficiently reduce the carbon output (both on an absolute scale and
relative intensity) of our operations (both Scope 1 and 2),
including through the use of lower carbon power alternatives,
management practices and system optimizations; the necessity to
direct our focus on maintaining and enhancing our existing assets;
the impacts of acquisitions or dispositions; changes in supply and
demand and other market factors affecting future prices of coal;
changes in the relative energy mix across activities and
geographies; the actions of competitors; changes in regional and
global economic growth rates and consumer preferences; the pace of
regional and global recovery from the COVID-19 pandemic and actions
taken by governments and consumers resulting from the pandemic;
changes in population growth, economic development or migration
patterns; and other factors discussed in this release and in Item
1A of CONSOL's Annual Report on Form 10-K for 2020 and subsequent
Quarterly Reports on Forms 10-Q. The forward-looking statements in
this press release speak only as of the date of this press release
and CEIX disclaims any intention or obligation to update publicly
or review any forward-looking statements, whether in response to
new information, future events, or otherwise, except as required by
applicable law.
In this statement, we refer to direct operating greenhouse gas
emissions (referred to as scope 1 and scope 2 emissions). We
note that this does not refer to our carbon emissions associated
with the use of energy products we sell (referred to as scope 3
emissions). CEIX only controls its direct operating
emissions. This statement is not intended to suggest that
CEIX is addressing the emissions from use of its energy products in
its net zero plan. Further, CEIX previously stated operating
plans, outlooks, budget and pricing assumptions for the remainder
of 2021 do not yet reflect our scope 1 and scope 2 emission
targets. In the future, as we move toward our goal to reduce
our direct operating greenhouse gas emissions, we expect these
costs to be reflected in CEIX operating plans, outlook, budget and
pricing assumptions.
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SOURCE CONSOL Energy Inc.