NW Natural Holdings Issues 2021 Environmental, Social and Governance Report

Rhea-AI Summary

NW Natural Holding Company (NYSE: NWN) released its 2021 Environmental, Social, and Governance (ESG) report, highlighting significant strides in sustainability. Key achievements include exceeding carbon savings goals, launching renewable natural gas sales, and implementing a Sustainable Financing Framework. The report also notes a reduction in workplace injuries and recognition as one of the 'World's Most Ethical Companies'. The company emphasizes its ongoing commitment to low-carbon initiatives and community support, reinforcing its position as a trusted energy provider in the Pacific Northwest.

Positive

• Exceeded carbon savings goals as part of the Low Carbon Pathway.
• Launched renewable natural gas sales under Oregon's legislation.
• Implemented a Sustainable Financing Framework.
• Reduced workplace injuries to the lowest level in over a decade.
• Ranked #2 in customer satisfaction in J.D. Power survey for 18 consecutive years.
• Invested in critical infrastructure and customer support improvements.

Negative

• None.

PORTLAND, Ore.--(BUSINESS WIRE)-- NW Natural Holding Company (NYSE: NWN) has released its 2021 Environmental, Social and Governance (ESG) report, providing in-depth coverage of the company’s progress on its ESG goals.

“As NW Natural Holdings expanded the company and navigated a dynamic global landscape in 2021, we intensified our focus on key ESG priorities,” said David H. Anderson, NW Natural Holdings president and CEO. “While continuing to deliver energy safely and reliably, we took initiative on multiple fronts to help move our region to a low-carbon, renewable energy future; safeguard the health and well-being of our employees, customers and neighbors; assist our most vulnerable community members; foster a diverse, inclusive company culture; and maintain a strong foundation of corporate integrity.”

The ESG report, posted online, incorporates disclosures recommended for the industry by the Sustainability Accounting Standards Board (SASB) and includes components of the Task Force on Climate-Related Financial Disclosures (TCFD).

Highlights from the 2021 report include the following:

• Exceeded target pace for achieving the voluntary carbon savings goal laid out in our Low Carbon Pathway
• Delivered the environmental benefits of RNG to our sales customers for the first time under Oregon’s landmark legislation
• Completed one of the first in-depth scenario analysis by a gas utility that analyzes possible ways to achieve carbon neutrality by leveraging our existing system
• Launched a new Sustainable Financing Framework and issued inaugural sustainable financings incorporating our long-held focus on these matters into another component of our business
• Continued to operate one of the most modern, tightest systems in the nation
• Reduced the number of workplace injuries to the lowest level in over a decade
• Ranked #2 in the West by residential customers in the J.D. Power survey for the 18^th year running
• Contributed nearly $1 million to organizations supporting families and children at risk
• Elected a woman as chair of NW Natural Holdings’ board of directors, one of only 7% of publicly traded companies in the United States, and increased the number of women on the board to 45%

• Developed an approach to increase diversity in our workforce and raise awareness of internal systems that could limit representation and equity for underrepresented employees

• Invested in critical infrastructure, cybersecurity, safety, and customer support improvements across our growing NW Natural Water family of utilities
• Launched NW Natural Renewables to supply low-carbon fuels for the utility, commercial, industrial and transportation sectors
• Recognized by Ethisphere® as one of the 2022 World’s Most Ethical Companies®

“NW Natural has been a trusted energy provider in the Pacific Northwest for 163 years, and we’re committed to caring for people and the environment where we grew up,” said Anderson. “We’ve evolved many times since 1859 to meet the changing needs of our region, and I hope this ESG report provides a view of the passion and principle we continue to bring to that mission.”

“World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC

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 790,000 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. With all pending acquisitions closed, NW Natural Water will serve nearly 150,000 people through approximately 61,000 connections in five states. Learn more about our water business at nwnaturalwater.com.

Additional information is available at nwnaturalholdings.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220908006057/en/

Investor Contact:

Nikki Sparley

Phone: 503-721-2530

Email: nikki.sparley@nwnatural.com

Media Contact:

David Roy

Phone: 503-610-7157

Email: david.roy@nwnatural.com

Source: NW Natural

FAQ

What are the highlights of NW Natural's 2021 ESG report?

The 2021 ESG report notes achievements like exceeding carbon savings goals, launching renewable gas sales, and a significant reduction in workplace injuries.

How does NW Natural support community initiatives?

NW Natural contributed nearly $1 million to organizations supporting families and children at risk as part of its community support initiatives.

What recognition did NW Natural receive in 2022?

NW Natural was recognized as one of the 'World's Most Ethical Companies®' by Ethisphere in 2022.

How does NW Natural contribute to a low-carbon future?

NW Natural launched NW Natural Renewables to supply low-carbon fuels and achieved significant carbon savings as part of its Low Carbon Pathway.

What is NW Natural's commitment to diversity?

NW Natural has implemented initiatives to increase workforce diversity and has elected a woman as chair of its board, increasing female representation.