EQT And Wheeling Park Commission Launch Forestry Management Program at Oglebay

Rhea-AI Summary

EQT Corporation (NYSE: EQT) has launched its first nature-based carbon offset initiative partnering with the Wheeling Park Commission, Teralytic, and Climate Smart Environmental Consulting. This project will manage over 1,000 acres of forest land to generate carbon offsets, leveraging Teralytic's advanced soil probe technology for accurate measurement of offsets.

The initiative aims to reduce or remove CO2 emissions, supporting EQT's goal of achieving net-zero Scope 1 and 2 greenhouse gas emissions by 2025. The project adheres to Conservation Practice Standards by the USDA and aligns with Verra guidelines for effective emissions reductions. Additionally, EQT is collaborating with Wheeling Country Day School on a soil health educational program.

Positive

• EQT's initiative increases its commitment to sustainability and reducing operational emissions.
• The partnership will utilize advanced soil probe technology, allowing for more accurate and cost-effective carbon offset measurements.
• The project aids EQT in its goal to achieve net-zero Scope 1 and 2 GHG emissions by 2025.

Negative

• None.

PITTSBURGH, April 10, 2023 /PRNewswire/ -- EQT Corporation (NYSE: EQT) today announced the Company's first nature-based carbon offset initiative. EQT has partnered with the Wheeling Park Commission, Teralytic, a soil analytics company, and Climate Smart Environmental Consulting, LLC, to implement forest management projects that will generate carbon offsets. The projects, which will span more than 1,000 acres of forest land at Oglebay and other forest property owned by the Wheeling Park Commission, will utilize Teralytic's soil probe technology to ensure the quantification of offsets is accurate and transparent.

EQT is an industry leader in reducing operational emissions and is committed to delivering low-cost, reliable, low-carbon energy to the world. To supplement those reduction efforts, this initiative will reduce or remove emissions of C02 from the atmosphere to offset other operational emissions and advance EQT's efforts to reach net-zero Scope 1 and Scope 2 greenhouse gas (GHG) emissions by or before 2025.

The partnership is implementing Conservation Practice Standards (CPS) outlined by the U.S. Department of Agriculture's Natural Resource Conservation Service (NRCS) and will align to Verra guidelines to ensure the effectiveness of emissions reductions and removals.

The advanced soil probe technology owned by Teralytic will empirically measure the impact of the projects on soil health. Teralytic probes make possible automatic and real-time measurement of soil carbon, soil moisture, and other vital soil nutrients which eliminate the need for costly manual soil sampling to quantify carbon offsets generated. This will allow EQT to generate higher quality carbon offsets at a lower cost than traditional methods.

In conjunction with this project, EQT has also partnered with Wheeling Country Day School to pilot an educational learning program to allow students to learn about soil health by monitoring real-time changes in the health of the soil, 24 hours a day.

"We are excited to take this first step in a partnership with EQT as the center of knowledge for forest improvement and soil health," said Wheeling Park Commission President & CEO Bob Peckenpaugh. "We have served our community for 100 years and for Oglebay to endure for another 100 years, we have a responsibility to the people of this community and the 2,000 acres we call home to clean up, maintain and improve our natural resources."

"EQT has a long-standing commitment to reducing operational emissions. Our operations already have some of the lowest GHG emissions intensities in the world," said Rob Wingo, Executive Vice President, Corporate Ventures of EQT. "Nature-based projects like this, which are supported by cutting edge technology that ensures accuracy and transparency, will help offset EQT's remaining emissions and advance our mission to deliver cheaper, more reliable, cleaner energy to the world." 

EQT Contact:
Bridget McNie
Director of Communications
412.720.4500 
Bridget.mcnie@eqt.com

About EQT
EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do. To learn more, visit eqt.com.

About Oglebay
www.oglebay.com
Located in Wheeling, WV, Oglebay is a 2,000-acre public park, offering year-round recreational activities and overnight accommodations. Studied by planners worldwide as the only self-supporting public municipal park in operation in the United States, Oglebay stands as a successful tribute to Earl W. Oglebay, a notable achievement of the Wheeling Park Commission, and a credit to the many benefactors and organizations involved in its growth.

About Wheeling Park
www.oglebay.com/wheeling-park
Wheeling Park, Oglebay's sister park, was Wheeling's first public park. Accessible by public transportation, this 406-acre property located on historic National Road in Wheeling, WV offers casual and organized outings. Form sports tournaments, ice skating, and swimming to day camp, holiday dances, picnics and outdoor music concerts, activities span all seasons. 

About Climate Smart Environmental Consulting, LLC
ClimateSmart Environmental Consulting LLC (CSEC) is a leading provider of strategic consulting services related to all aspects of Clean Energy, and both land-based and technology-based Green House Gas (GHG) management solutions. We assist clients to assume a leadership position within their respective industries with respect to the rapidly expanding and evolving GHG revolution, by providing innovative strategic consulting services based on over a combined 50+ years of experience spanning both policy and technologies related to GHG management. Learn more by visiting www.climatesmartcarbon.com.

About Teralytic
Teralytic is the world's first wireless NPK soil sensor and real time soil analytics tool. Using proprietary soil sensors, Teralytic provides a gateway to rich, real time, and actionable data giving landowners visibility into their soils at all times to support sustained soil health. Teralytic has and continues to refine an industry leading soils database in order to support its vision to provide an 'agronomist is a box' to farmers and landowners across the world. Come and see how the dark age of farm and forest data collection ends here: https://teralytic.com/

 

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SOURCE EQT Corporation

FAQ

What is EQT's new carbon offset initiative?

EQT's new carbon offset initiative is a partnership with Wheeling Park Commission and others to manage over 1,000 acres of forest land for carbon offsets.

How will EQT measure carbon offsets in its new initiative?

EQT will use Teralytic's advanced soil probe technology for real-time and accurate measurement of soil carbon and health.

What are EQT's environmental goals with this initiative?

EQT aims to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions by 2025 through this carbon offset initiative.

Which organizations are partnering with EQT for the carbon offset project?

EQT is partnering with the Wheeling Park Commission, Teralytic, and Climate Smart Environmental Consulting for the carbon offset initiative.