NW Natural Holdings Issues 2020 Environmental, Social and Governance Report
NW Natural Holding Company (NYSE: NWN) released its second annual ESG Report, highlighting 2020 achievements in safety, carbon reduction, and community engagement. Key accomplishments include operating a modern gas system with low leak rates, safety inspections at nearly triple the regulatory rate, and a significant carbon dioxide equivalent reduction of over 379,000 metric tons. The company also focused on diversity, awarding $17 million in bill credits, and contributing nearly $1 million to community organizations. The report emphasizes the company's commitment to sustainable practices and community support.
- Reduced workplace injuries to the lowest level in over a decade.
- Saved over 379,000 metric tons of carbon dioxide equivalent, on track to meet a 30% savings goal by 2035.
- Issued a record $17 million in bill credits to customers.
- Increased the percentage of BIPOC employees by nearly 75% since 2000.
- None.
NW Natural Holding Company (NYSE: NWN) has released its second annual Environmental, Social and Governance (ESG) Report outlining the company’s progress in 2020 on safety, carbon reduction, diversity, community engagement and governance goals.
“Our core values of integrity, safety, caring, service ethic, and environmental stewardship guided our decisions in 2020, as they always have,” said David H. Anderson, NW Natural president and CEO.
“Even in the face of unprecedented challenges, we continued to look ahead and execute on key long-term priorities: aggressively pursuing renewable supplies for our gas utility customers; working to protect the health and safety of our employees and customers; providing safe, clean, reliable water through our growing water and wastewater utility business; and taking actions to advance social justice in our workplace and our wider community.”
The ESG report, posted online, incorporates disclosures recommended for the industry by the Sustainability Accounting Standards Board (SASB).
Highlights from the report include the following:
- Continued to operate one of the tightest, most modern natural gas systems in the nation
- Led the industry with one of the lowest number of leaks per mile of distribution pipeline among U.S. natural gas utilities
- Performed safety inspections on the natural gas transmission system at nearly three times the rate required by federal and state regulations
- Launched an employee safety initiative that reduced workplace injuries to the lowest number in more than a decade
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Saved more than 379,000 metric tons of carbon dioxide equivalent and remained on track to meet or exceed NW Natural’s voluntary carbon savings goal of
30% savings from our own operations and customers’ use of our product by 2035, based on 2015 emissions levels - Secured our first renewable natural gas investment under landmark Oregon Senate Bill 98
- Moved our Portland headquarters and operations center into a new LEED Core and Shell Gold certified building that reduces energy use and waste
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Continued our focus on diversity, equity and inclusion, and increased the percentage of employees that self-identify as Black, Indigenous or People of Color (BIPOC) by nearly
75% since 2000 -
Issued customers a record
$17 million in bill credits related to revenue sharing -
Contributed nearly
$1 million to community organizations through the NW Natural Corporate Philanthropy Fund, and provided a100% company match for two employee-giving campaigns that raised$350,000 for local nonprofits - Provided safe, clean, reliable, affordable water and wastewater service for NW Natural Water customers, and invested in critical infrastructure and improvements
-
Achieved
100% participation in Code of Ethics and compliance training among active NW Natural and NW Natural Gas Storage employees, and rolled out training to NW Natural Water employees in 2021
“This work is not easy and there are no shortcuts, but each year we set goals, make strides and move closer to achieving our vision. I hope this ESG report, through stories and statistics, conveys the commitment and passion we bring to serving our communities and customers every day,” said Anderson. “NW Natural has been a trusted energy provider, a key employer and an innovative community ally for 160 years, and we plan to continue this legacy with passion and principle.”
ABOUT NW NATURAL HOLDINGS
Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and through its subsidiaries has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and other business interests.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 770,000 meters in Oregon and Southwest Washington, with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 20 Bcf of underground gas storage capacity in Oregon.
NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. NW Natural Water currently serves approximately 63,000 people through about 26,000 connections. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.
FORWARD LOOKING STATEMENTS
This report and other materials prepared by NW Natural Holdings from time to time may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, which are subject to the safe harbors created by such Act. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects” and similar references to future periods. Examples of forward-looking statements include, but are not limited to, statements regarding the following: plans, objectives, estimates, timing, goals, strategies, future events, projections, expectations, outlooks, commitments, intentions, acquisitions and timing, completion and integration thereof, infrastructure investments, emergency preparedness and response, cybersecurity, safety and implementation of safety initiatives, system modernization, improvements and reliability, infrastructure resiliency, risk management programs, commodity costs and sourcing, competitive advantage, marketing, service territory, customer service including implementation of new customer service technologies, customer and business growth, customer satisfaction ratings, weather, customer rates, customer preference, business risk, efficiency of business operations, business development and new business initiatives, gas storage capabilities, water and wastewater industry and investments including timing, completion and integration of such investments and related operational initiatives, financial positions and performance, economic and housing market trends and performance, capital expenditures, technological innovations and investments, strategic goals and visions, environmental initiatives, decarbonization and the role of natural gas and the gas delivery system, including use of renewables, carbon emissions, targets and savings, renewable natural gas projects or investments and timing and completion thereof, renewable hydrogen projects and programs and timing and completion thereof, procurement of renewable natural gas or hydrogen for customers, energy efficiency initiatives, investments and funding, energy usage and savings, charitable donations and volunteer programs, workforce trends, diversity, equity and inclusion initiatives, employee training, the regulatory environment, timing or effects of future regulatory proceedings or future regulatory approvals, effects of legislation and changes in laws and regulations, including but not limited to carbon, renewable natural gas and renewable hydrogen regulations, effects, extent, severity and duration of COVID and resulting economic disruption, the impact of efforts to mitigate risks posed by its spread, ability of our workforce, customers or suppliers to operate or conduct business, reopening and remote work plans, governmental actions and timing thereof including actions to reopen the economy, and other statements that are other than statements of historical facts.
The forward-looking statements contained in this report are provided for the general information of our stakeholders and are not intended to induce any sales or purchases of securities or to be used in connection therewith for any investment purposes. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements, so we caution you against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are discussed by reference to the factors described in Part I, Item 1A “Risk Factors,” and Part II, Item 7 and Item 7A “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Quantitative and Qualitative Disclosure about Market Risk” in the Company’s most recent Annual Report on Form 10-K, and in Part I, Items 2 and 3 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Quantitative and Qualitative Disclosures About Market Risk,” and Part II, Item 1A, “Risk Factors,” in the Company’s quarterly reports filed thereafter. All forward-looking statements made in this report and all subsequent forward-looking statements, whether written or oral and whether made by or on behalf of the Company, are expressly qualified by these cautionary statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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