Cheniere Publishes 2020 Corporate Responsibility Report

Rhea-AI Summary

Cheniere Energy, Inc. (LNG) has released its 2020 Corporate Responsibility report, titled Built for the Challenge. The report showcases the company's ESG strategy and actions taken during the COVID-19 pandemic. Key highlights include zero employee injuries, $3.6 million in community funding, and a 33% reduction in GHG emissions since 2016. Cheniere has also integrated an ESG metric into its compensation structure for 2021. The report aligns with top sustainability standards and emphasizes Cheniere's focus on climate and social responsibility.

Positive

• Zero employee recordable injuries and zero known COVID-19 workplace transmissions during 2020.
• $3.6 million in direct community funding, COVID-19 relief, and regional recovery assistance.
• Over 33% reduction in scope 1 greenhouse gas emissions intensity since 2016.
• Inclusion of an ESG metric for performance-based compensation accounting for 10% of the total annual incentive program scorecard value.

Negative

• None.

Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) today published its 2020 Corporate Responsibility (CR) report, titled Built for the Challenge. The report details Cheniere’s strategy and progress on environmental, social and governance (ESG) issues, and highlights the company’s resiliency, responsible actions and response during a period overshadowed by the global COVID-19 pandemic. The report also spotlights Cheniere’s recent efforts on integrating climate considerations into its business strategy and taking a leadership position on increased environmental transparency, including conducting a climate scenario analysis aligned with TCFD recommendations, and announcing the company’s plan to provide LNG customers with Cargo Emissions Tags.

“For Cheniere, 2020 will be remembered as a year when our business and people were tested like no other and proved that we really are Built for the Challenge,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “Whether it was keeping our workplace safe and healthy during the COVID-19 pandemic and multiple hurricanes, addressing Diversity, Equity and Inclusion, or taking action on integrating climate into our platform, 2020 was a year of remarkable progress and triumph in the face of significant challenges.”

Built for the Challenge is online at cheniere.com/IMPACT

The report aligns with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), the Sustainable Accounting Standards Board (SASB) and other leading reporting standards. It documents Cheniere’s progress across six focus areas – Climate, Environment, Team, Health and Safety, Community and Governance. It also includes three global issue features on the energy transition; Diversity, Equity and Inclusion; and Cheniere’s COVID-19 response. Highlights from the report include:

• Zero employee recordable injuries and zero known COVID-19 workplace transmissions during 2020.
• $3.6 million in direct community funding, COVID-19 relief and regional recovery assistance related to Hurricanes Laura and Delta.
• Over 33% reduction of scope 1 greenhouse gas (GHG) emissions intensity since startup of commercial LNG export operations in 2016.
• Inclusion of an ESG metric for performance-based compensation determinations that accounts for 10% of the total annual incentive program scorecard value for 2021.

Built for the Challenge builds on Cheniere’s inaugural CR report published last year -- First and Forward – and the company’s overall efforts to continually benchmark and assess Cheniere’s actions on key ESG issues. For more information, please visit cheniere.com.

About Cheniere

Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.

For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to the amount and timing of share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210629005694/en/

FAQ

What is the main focus of Cheniere's 2020 Corporate Responsibility report?

The report emphasizes Cheniere's ESG strategy, showcasing achievements during the COVID-19 pandemic.

What key highlights are presented in Cheniere's 2020 report?

Key highlights include zero employee injuries, $3.6 million in community funding, and a 33% reduction in GHG emissions.

How does Cheniere plan to integrate climate considerations into its business strategy?

Cheniere is integrating climate considerations through initiatives like Cargo Emissions Tags and aligning with TCFD recommendations.

What financial impact does Cheniere's ESG strategy have on employee compensation?

Cheniere has included an ESG metric that accounts for 10% of its total annual incentive program scorecard value for 2021.