UGI Corporation Publishes Fiscal 2023 ESG Report

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UGI (NYSE: UGI) has released its 2023 ESG report titled, The Journey: Managing Climate Risks and Opportunities. The report reveals a 50% reduction in Scope I (direct) emissions, with a target of 55% by 2025. UGI also achieved a 25% increase in spend with diverse Tier I and Tier II suppliers, meeting this goal two years early. The report highlights alignment with several United Nations Sustainable Development Goals and showcases recent ESG recognitions, including maintaining an AAA MSCI rating, a 'B' ranking from the Carbon Disclosure Project (CDP), and an upgrade to Medium-Risk from Morningstar Sustainalytics. Interim CEO Mario Longhi expressed UGI's commitment to evaluating climate risks and opportunities, aiming to innovate and improve services for customers, investors, and employees.

• Achieves a 50% reduction in Scope I (direct) emissions¹
• Meets commitment to increase spend with diverse Tier I and Tier II suppliers by 25%
• Improves rankings with CDP and Morningstar Sustainalytics

VALLEY FORGE, Pa.--(BUSINESS WIRE)-- UGI Corporation (NYSE: UGI) (the “Company”) today released its 2023 environmental, social and governance (ESG) report titled, The Journey: Managing Climate Risks and Opportunities, which outlines the Company’s progress on all aspects of its ESG journey. UGI is pleased to report that it has achieved a 50% reduction in Scope I (direct) emissions¹ and is on track to meet its commitment of a 55% reduction by the end of fiscal 2025. Additionally, UGI has met its commitment to improve spend with diverse Tier I and Tier II suppliers by 25% by fiscal 2025 – a full two years ahead of schedule.

These important achievements and many others are included in UGI’s sixth ESG report, which highlights the alignment of the Company’s business activities to several United Nations Sustainable Development Goals.

UGI’s ESG commitments and actions have been recognized by our stakeholders, as shown by these recent accomplishments with ESG rating agencies:

• Maintained our AAA rating with MSCI;
• Improved our Carbon Disclosure Project (CDP) score with a “B” ranking; and
• Upgraded to the Medium-Risk category with Morningstar Sustainalytics.

Mario Longhi, Interim President and Chief Executive Officer of UGI Corporation said, “We have a history of aligning our ESG commitments with our long-term strategy, value creation, and continuous improvement. UGI is committed to evaluating risks and opportunities to uncover innovative and better ways to serve our customers, investors and employees.”

Longhi continued, “As we navigate climate assessments, scenario analyses, and feedback from our stakeholders, we are confident that we will continue to develop new ways to minimize risk while maximizing the opportunities associated with climate change.”

About UGI Corporation 
UGI Corporation (NYSE: UGI) is a distributor and marketer of energy products and services in the US and Europe. UGI offers safe, reliable, affordable, and sustainable energy solutions to customers through its subsidiaries, which provide natural gas transmission and distribution, electric generation and distribution, midstream services, propane distribution, renewable natural gas generation, distribution and marketing, and energy marketing services.

Comprehensive information about UGI Corporation, including its ESG report, is available on the Internet at https://www.ugicorp.com. The ESG report is also available on UGI’s ESG website at https://ugiesg.com/.

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¹ The Scope 1 emissions reduction target did not include emissions from the Mountaineer acquisition, which closed in September 2021. The target also excluded the Moraine East acquisition and only accounted for our ownership interest in the Pennant system at the time we set the target. UGI now owns 100% of Pennant. Emissions from our ownership interest in the Pine Run acquisition, announced in February 2021, were included in the baseline 2020 number. The 2020 baseline number also takes a 5-year emissions average from the Hunlock power generation facility to account for year-over-year differences in run time.

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Source: UGI Corporation

FAQ

What ESG achievements did UGI report in fiscal 2023?

UGI reported a 50% reduction in Scope I emissions and a 25% increase in spend with diverse Tier I and Tier II suppliers two years ahead of schedule.

What is the title of UGI 's 2023 ESG report?

The title of UGI 's 2023 ESG report is The Journey: Managing Climate Risks and Opportunities.

What future emissions reduction target is UGI aiming for?

UGI is aiming for a 55% reduction in Scope I emissions by the end of fiscal 2025.

How has UGI 's ESG performance been recognized?

UGI maintained an AAA rating with MSCI, received a 'B' ranking from the Carbon Disclosure Project (CDP), and was upgraded to Medium-Risk by Morningstar Sustainalytics.

How does UGI 's ESG report align with global standards?

UGI's ESG report aligns with several United Nations Sustainable Development Goals.