Spire is one of the first natural gas companies in U.S. committed to carbon neutrality

Rhea-AI Summary

Spire has announced its commitment to achieving carbon neutrality by midcentury and reducing methane emissions by 53% by 2025. This positions Spire as a leader among US natural gas companies in environmental responsibility. Since 2005, the company has already reduced methane emissions by 39% and plans further reductions through its participation in the EPA's Natural Gas STAR Methane Challenge program. In fiscal year 2019, Spire invested $287 million in infrastructure upgrades, resulting in a 21% reduction in leaks. The focus on sustainability is detailed in their Corporate Social Responsibility report.

Positive

• Committed to being carbon neutral by midcentury.
• Set a goal to reduce methane emissions by 53% by 2025, exceeding national standards.
• Achieved a 39% reduction in methane emissions since 2005.
• Invested $287 million in fiscal year 2019 for infrastructure improvement, leading to a 21% reduction in leaks.

Negative

• None.

ST. LOUIS, July 15, 2020 /PRNewswire/ -- As part of Spire's commitment to the environment and the communities it serves, the company announced it is one of the first natural gas companies in the United States to commit to being carbon neutral by midcentury, while also reducing methane emissions with a 53% reduction by 2025.

Spire's focus on environmental responsibility is featured in its second annual Corporate Social Responsibility report, which highlights performance data the company tracks through the independent Global Reporting Initiative (GRI) index, the American Gas Association voluntary reporting tool, and information provided to the Pipeline and Hazardous Materials Safety Administration. Other focus areas in the report include community, people and leadership.

"We know natural gas plays an important part in a sustainable energy future," said Steve Lindsey, executive vice president and chief operating officer at Spire. "That's why we're committed to moving our business forward in a way that protects the planet and supports communities for generations to come."

Spire is committed to:

Substantial reductions in methane emissions

By 2025, Spire's goal is a 53% reduction in gas utility methane emissions from 2005 levels, putting the company well ahead of international standards, which call for a commitment of a 26 to 28% reduction in greenhouse gas emissions nationwide.

Spire has already seen success in reductions:

• Since 2005, Spire's utilities have reduced overall methane emissions by 39 percent.
• As an active member of the EPA's Natural Gas STAR Methane Challenge program, Spire committed to reducing methane emissions by 5% per year, up from its prior commitment of 2 % per year.
• In fiscal year 2019, Spire invested $287 million to replace 359 miles of aging infrastructure resulting in a 21% leak reduction per 1,000 system miles of distribution pipelines. Over the last five years, Spire reduced leaks per 1,000 system miles by 66%.

Being a carbon neutral company by midcentury

In addition to its infrastructure upgrades and methane reduction goals, Spire's natural gas utilities are committed to being carbon neutral by midcentury.

"Our environmental efforts are important to our customers, and they are important to us, too," Lindsey said. "As a natural gas utility, we will continue to find innovative ways to supply the energy people depend on while striving to become carbon neutral by midcentury."

Working responsibly

Spire is also creating sustainable workplaces, eliminating water waste, recycling across all facilities and efficiently fueling its fleet.

• Not only does Spire follow all applicable rules and regulations regarding water management, including the Clean Water Act, the company uses limited water for hydrostatic testing, and, on a more limited basis, in pipeline construction. Spire also repurposes water and uses leading storm water management techniques, spill prevention control, countermeasure plans and conduct audits at construction sites.
• While plans are in the works for a comprehensive recycling program across all facilities, Spire already has several initiatives in place, such as recycling cardboard as well as industrial and universal wastes including fluorescent bulbs, high-efficiency lamps and alkaline batteries.
• Spire is also reducing carbon emissions by using compressed natural gas in nearly 300 of its fleet vehicles (about 13%).

Access more information about Spire's environmental commitment and the complete CSR report here.

About Spire

At Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.8 million homes and businesses making us the fifth largest publicly traded natural gas company in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing, Spire STL Pipeline and Spire Storage. We are committed to transforming our business through growing organically, investing in infrastructure, and advancing through innovation. Learn more at SpireEnergy.com.

Investor Contact:
Scott W. Dudley Jr.
314-342-0878
Scott.Dudley@SpireEnergy.com

Media Contact:
Raegan Johnson
314-342-3300
Raegan.Johnson@SpireEnergy.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/spire-is-one-of-the-first-natural-gas-companies-in-us-committed-to-carbon-neutrality-301094035.html

SOURCE Spire Inc.

FAQ

What are Spire's environmental commitments for SR?

Spire is committed to carbon neutrality by midcentury and a 53% reduction in methane emissions by 2025.

How much has Spire reduced methane emissions since 2005?

Spire has reduced methane emissions by 39% since 2005.

What investment did Spire make in fiscal year 2019?

Spire invested $287 million in fiscal year 2019 to replace aging infrastructure.

What is the goal of Spire's methane emissions reduction program?

Spire aims for a 53% reduction in methane emissions from 2005 levels by 2025.

Where can I find Spire's Corporate Social Responsibility report?

Spire's Corporate Social Responsibility report can be accessed on their website.