Equitrans Midstream Releases 2020 Corporate Sustainability Report
Equitrans Midstream Corporation (NYSE: ETRN) released its first annual corporate sustainability report, which was produced in accordance with the Global Reporting Initiative (GRI) Core option and also incorporated the Sustainability Accounting Standards Board (SASB) Oil & Gas ? Midstream Standards. The report content reflects the results of our recent materiality assessment to identify the Environmental, Social, and Governance (ESG) topics most significant to the Company's business and stakeholders for the first full year of standalone operations as Equitrans Midstream Corporation. The report can be viewed online: ETRN 2020 CSR ? Our Sustainability Progress.
"This year's comprehensive sustainability report outlines our work to ensure safe, sustainable, and responsible operations," stated Diana M. Charletta, ETRN president and chief operating officer. "We believe our ESG management practices are intrinsic and deliver value that goes beyond financial drivers. Today and in the future, trust and transparency are central to our approach. As an essential business, we are proud to pursue energy solutions that serve our customers, create value for our shareholders, and support our many stakeholders."
Highlights of ETRN's 2020 Corporate Sustainability Report:
Safety Leadership
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Zero Is Possible, Today
- Equitrans Midstream deepened its commitment to its Zero Is Possible ? Today platform, which has been instrumental in creating a robust safety culture at ETRN. ZIP Today is the manifestation of ETRN's overriding belief that success is only realized when every contributor is safe and unharmed.
- Three safety subcommittees within the Health, Safety, Security, and Environmental team, representing operations, construction, and office employees, developed and tailored safety target assignments for implementation across their respective areas.
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Field Safety Technician Program
- ETRN's Field Safety Technician (FST) Group is composed of field employees who volunteer to act as liaisons with management in order to identify opportunities for enhancing field safety processes and protocols.
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Pipeline Safety
- ETRN proactively utilized approximately $2 million to broaden pipeline safety initiatives and an additional $650,000 for corrosion prevention activities in 2019.
Environmental
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Methane Reduction
- In September 2019, ETRN publicly announced its support for the continuation of natural gas industry efforts to reduce methane emissions in light of a proposed rollback of regulations by the Environmental Protection Agency.
- Reducing greenhouse gas emissions is an ongoing commitment. ETRN is a member of the Interstate Natural Gas Association of America's (INGAA) Methane Commitment; the American Petroleum Institute's Environmental Partnership; and the ONE Future Coalition, a group of natural gas companies committed to limiting methane emissions to 1% across the value chain by 2025.
Social
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Economic Impact
- In 2019, ETRN contributed $2.88 billion in value-added contributions to the United States Gross Domestic Product and ETRN's business generated $312 million in state and local tax revenues.
- In addition to its 801 direct employees at year-end 2019, ETRN's business activities supported 33,100 ancillary jobs.
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Community Investment
- In 2019, ETRN created an employee activity and community service committee, which encourages employees to explore their passions, business skills, and expertise to make meaningful contributions in local communities. ETRN supports its employees engaging in community service initiatives and company-sponsored social/recreational activities that align with ETRN's core values of Safety, Integrity, Collaboration, Transparency, and Excellence.
- In 2019, the Equitrans Midstream Foundation made donations of $150,000, which primarily focused on education and community development initiatives.
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Stakeholder Engagement
- ETRN proactively seeks engagement opportunities with all of our stakeholders through communication of our business strategy, operations, and risks, as well as through ongoing dialogue regarding stakeholder concerns.
Governance
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Board Composition and Diversity
- In 2020, ETRN expanded its Board of Directors to nine directors from seven in 2019, including augmenting its Board of Directors with two additional female directors, bringing the total number of female directors to four, all of whom are independent. Overall, eight of ETRN's board members are independent, relative to five in 2019.
- All of Equitrans' directors continue to be experienced in relevant sectors, including energy, regulatory, utility and/or government, as well as have experience in relevant disciplines including finance, accounting and/or audit and control.
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Sustainability Program
- In 2020, as part of its commitment to operating with a focus on long-term sustainability, ETRN appointed its first Vice President, Chief Sustainability Officer to oversee its sustainability program.
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.
Visit www.equitransmidstream.com; and to learn more about our environmental, social, and governance practices visit ETRN Sustainability Reporting.
Source: Equitrans Midstream Corporation
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