New Jersey Resources Announces $500,000 Funding Commitment to Restore and Transform Scudder Preserve in Monmouth County

Rhea-AI Summary

New Jersey Resources (NYSE: NJR) has committed $500,000 over five years to support the Monmouth Conservation Foundation's (MCF) restoration and improvement of Scudder Preserve in Monmouth County, NJ. This funding is part of NJR's Coastal Climate Initiative (CCI) that pledges up to $2 million for environmental stewardship in New Jersey. The project targets forest restoration, biodiversity enhancement, climate resilience, and public access expansion. NJR's support will help MCF conduct natural resource inventories, devise restoration and management plans, improve site facilities, and launch educational programs. This aligns with NJR's broader sustainability goals, demonstrated by their recent $560,000 environmental funding and significant investments in energy efficiency and carbon reduction technologies.

Positive

• NJR's $500,000 funding commitment to MCF for Scudder Preserve restoration.
• Part of NJR's $2 million Coastal Climate Initiative for environmental stewardship.
• Project includes forest restoration, biodiversity enhancement, and public access improvements.
• NJR's broader sustainability efforts include a $560,000 commitment to local environmental improvements.
• NJR has invested significantly in energy efficiency and carbon reduction technologies.

Negative

• None.

• Funds will benefit Monmouth Conservation Foundation's stewardship of Scudder Preserve, enabling improvements to restore natural aspects of the property, expand recreational access and educational programming for the public, and strengthen climate resilience.
• The project is part of NJR's 2023 pledge to commit up to $2 million through its Coastal Climate Initiative (CCI) to support environmental stewardship and education efforts in New Jersey.

WALL, N.J.--(BUSINESS WIRE)-- Building on its commitment to environmental stewardship and support of community resiliency, New Jersey Resources (NYSE: NJR) today announced a five-year, $500,000 funding commitment to Monmouth Conservation Foundation (MCF) through the company’s Coastal Climate Initiative (CCI). NJR’s gift will help bring to life MCF’s vision to restore and improve the Scudder Preserve, an important natural habitat in Middletown, Monmouth County, New Jersey, benefitting the local community for generations to come.

“New Jersey Resources understands that more resilient and sustainable communities make our business stronger too, and we’re committed to making a positive impact through our Coastal Climate Initiative and our broader charitable efforts,” said Steve Westhoven, President and CEO of New Jersey Resources. “Providing this gift to restore and improve Scudder Preserve is a rare opportunity to make a significant difference with a single parcel of property that will benefit the local community for years to come.”

Scudder Preserve is a 90-acre, densely wooded, preserved habitat, which is home to century forest, grasslands, streams and riparian corridors, nature trails, several ponds, and a home. The property was originally owned by the Scudder family, who donated conservation easements to MCF and later donated the 90-acre property to New Jersey Audubon Society (NJA). Earlier this year, NJA transferred ownership of the property to MCF, a nonprofit land trust that focuses on open space preservation throughout Monmouth County.

“New Jersey Resources shares our vision of environmental stewardship within our local community,” said William Kastning, Executive Director of the Monmouth Conservation Foundation. “Teaming up with NJR through this agreement, we’re able to actively demonstrate sustainability and inspire the vision to expand education and inspire land stewardship for future generations. NJR’s dedication, both in funding and attention to local communities, is invaluable. With their support and collaboration, we’re transforming Scudder Preserve into the natural sanctuary Monmouth County residents have been longing for.”

NJR’s funding will support specific, actionable strategies of MCF’s plan for the preserve:

• Conduct a comprehensive natural resource inventory;
• Devise and implement a site restoration and management plan;
• Assess and devise a climate resilient public access strategy; and,
• Build and launch an educational outreach program at Scudder Preserve.

In whole, these efforts underwritten by NJR at Scudder Preserve will result in forest restoration and habitat management to reduce invasive species, restore biodiversity and ecosystem function, including water quality benefits, greater climate resilience from native planting, and site improvements that reduce erosion and mitigate storm- and flood-water flows. The work at the preserve will focus on expanding public access and education through trail and facility improvements, allowing local communities to benefit from open space and nature.

NJR’s gift is made possible through NJR’s 2023 pledge to commit up to $2 million over five years through its charities, dedicated to supporting the work of CCI on natural resource management and education, climate resilience, and environmental stewardship in the communities it serves. NJR will also seek opportunities for employees to collaborate with MCF on future volunteerism and education efforts.

In addition to the support from NJR, MCF previously announced it had secured a private philanthropic gift of $1 million, providing seed support for MCF’s transition into its ongoing management of Scudder Preserve.

This project adds to NJR’s broader sustainability efforts, demonstrated in part through CCI. Over the last year NJR has successfully continued to incorporate sustainability across its business. A few highlights include:

• Announced a milestone five-year funding commitment of $560,000 from its charitable foundation to advance local environmental improvements in partnership with New Jersey Audubon.
• Provided nearly $2 million in charitable and volunteer support to community nonprofits in NJR’s last fiscal year, including approximately 4,000 hours of volunteer service – nearly double the amount of the previous year.
• Achieved the highest single-year investment of $59 million in New Jersey Natural Gas’ energy-efficiency programs – cutting carbon emissions by helping customers reduce their energy consumption.
• Continued to advance cutting-edge, lower-carbon energy solutions, including the installation of carbon capture technology and high-efficiency gas heat pumps in NJR’s own facilities.
• Construction of North America’s largest capped landfill solar array and largest floating solar array – both located in New Jersey.
• Named one of America’s Most Responsible Companies by Newsweek for the fifth consecutive year – one of only 156 companies nationwide to be recognized every year since 2020.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

• New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains natural gas transportation and distribution infrastructure to serve approximately 582,000 customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex, Sussex and Burlington counties.
• Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of approximately 474 megawatts, providing residential and commercial customers with low-carbon solutions.
• Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
• Storage and Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River Energy Center and the Adelphia Gateway Pipeline, as well as our 50% equity ownership in the Steckman Ridge natural gas storage facility.
• Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its over 1,300 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as SAVEGREEN™ and The Sunlight Advantage®.

For more information about NJR visit www.njresources.com.
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About Monmouth Conservation Foundation

Founded in 1977, Monmouth Conservation Foundation is an independent nonprofit land trust that has preserved more than 9,400 acres of green space in Monmouth County. Accredited by the Land Trust Commission since 2014, MCF collaborates with private and public partners to acquire and preserve open space and farmland and conserve natural habitats throughout Monmouth County in support of outdoor recreation, agriculture, clean water, and wildlife for long-term sustainability. MCF leads conservation and education efforts to preserve and protect our natural environment, so all individuals and communities have access to and can benefit from open space and nature for generations to come. Connect with us on Facebook, Instagram, or LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240627899479/en/

Media:

Mike Kinney

732-938-1031

mkinney@njresources.com

Investors:

Adam Prior

732-938-1145

aprior@njresources.com

Source: New Jersey Resources

FAQ

What is New Jersey Resources' recent funding commitment for environmental conservation?

New Jersey Resources (NYSE: NJR) announced a five-year, $500,000 funding commitment to support the Monmouth Conservation Foundation's restoration of Scudder Preserve in Monmouth County.

How much has NJR pledged through its Coastal Climate Initiative?

NJR has pledged up to $2 million through its Coastal Climate Initiative for environmental stewardship and education efforts in New Jersey.

What are the plans for Scudder Preserve funded by NJR?

The plans include conducting a natural resource inventory, site restoration, climate-resilient public access strategies, and launching an educational outreach program.

What key sustainability efforts has NJR undertaken recently?

NJR has committed $560,000 for local environmental improvements, nearly $2 million in charitable support, and significant investments in energy efficiency and carbon reduction technologies.

What are the broader goals of NJR's Coastal Climate Initiative?

The initiative aims to support natural resource management, climate resilience, and environmental stewardship in New Jersey communities.