CNX Releases Sustainability Report Highlighting Tangible, Impactful, Local ESG Approach

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05/31/2023 - 04:15 PM

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.