On Thursday, June 25, 2020 UGI Corporation (NYSE: UGI) announced the release of its second Environmental, Social and Governance (“ESG”) report titled, Today’s Energy, Tomorrow’s World. The ESG report is available on UGI’s website at (https://www.ugicorp.com/investors/environmental-social-and-governance-esg/2019-Sustainability-Report/default.aspx). The report highlights UGI’s continued investments in infrastructure that lowers methane and greenhouse gas (“GHG”) emissions, enhances system integrity and improves safety. UGI Utilities established ambitious targets to reduce methane emissions by 92% by 2030 and 95% by 2040 compared to 1999 levels. Additionally, UGI Utilities plans to reduce GHG emissions by over 8 million metric tons compared to 2012 levels.
UGI has a rich history of partnering with organizations that support the communities we serve. In Fiscal 2019, UGI and its employees donated more than $2 million and 60,000 hours to support important causes in our communities. In addition to its current community-based support in areas such as childhood literacy, health and wellness for families, food insecurity and emergency services, UGI also announced its intent to provide an additional $500,000 to partner organizations in the communities it serves to combat racial inequality and systemic racism over the next twelve months. Throughout the report, UGI confirms and strengthens its commitment to deliver affordable, efficient and socially responsible energy products and services to its customers in a safe and reliable manner for years to come.
Highlights and commitments from Today’s Energy, Tomorrow’s World include:
• Invested $1.15 billion over the last decade into our 12,300 miles of natural gas mains to modernize our infrastructure and sharply lower operational fugitive methane emissions
• UGI Corporation committed to a minimum contribution of $500,000 to partner organizations in our local communities to combat racial inequality and systemic racism
• Established methane emission intensity targets of 0.07% by 2030 and 0.05% by 2040 at UGI Utilities
• UGI Utilities established an aggregate GHG emissions reduction target of over 8 million metric tons by 2030 from 2012 levels; this target will help to offset some of the increases in GHG emissions associated with growing our customer base and throughput
• Work is ongoing to identify and develop investment opportunities that align with our ESG goals and strategies
• Enhanced Scope 1 and Scope 2 disclosures to include Global LPG businesses
• Investing approximately $200 million into Global LPG businesses to increase efficiencies and enhance the customer experience
• Continued improvement in UGI’s safety culture as Total Recordable Injury Rate and Lost Time Injury rate improved each year from 2017 - 2019
• UGI Utilities and AmeriGas will invest approximately $38 million to construct new, state-of-the-art safety training facilities
• UGI and its employees donated more than $2 million and 60,000 hours of volunteer time to support causes in our communities
John L. Walsh, President and Chief Executive Officer of UGI Corporation, said, “We are pleased to announce the release of our 2nd ESG report and build upon the foundation we established last year. At UGI, we believe effective ESG management is a key pillar to long-term value creation. This comprehensive, sustainable approach to our business enables us to make investments that fulfill our commitments to stakeholders and reinforce our core values of safety, integrity, respect, reliability, responsibility and excellence. We expanded the scope of our commitments this year to include operational fugitive methane emission and GHG reduction targets at our Utilities business and announced a plan to spend nearly $40 million on state-of-the-art training facilities for our Utilities and AmeriGas businesses.
“UGI remains focused on providing our stakeholders with enhanced disclosure to better evaluate our progress on key ESG initiatives that will have a positive impact on the families, businesses and communities we serve. As always, we strive to deliver on our key commitment to be the best in class energy provider and services company and welcome dialogue around these topics.”
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing in eleven states, the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
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