Williams Reports Progress on Environmental Performance Metrics
Williams (NYSE: WMB) has released its 2023 Sustainability Report, highlighting progress in environmental performance and management. Key achievements include:
1. Advancing towards a 30% reduction in intensity-based carbon emissions by 2028 from 2018 levels.
2. Outperforming the 5% methane emissions reduction target.
3. Joining OGMP 2.0 and setting a Scope 1 methane intensity target of 0.0375% for operated assets by 2028.
4. Executing NextGen Gas strategy and supporting two DOE-selected hydrogen hubs.
5. Receiving top sustainability ratings, including inclusion in the DJSI North America and World indices.
The report, prepared using GRI Standards 2021, covers operations from January to December 2023 and received third-party assurance for select data.
Williams (NYSE: WMB) ha pubblicato il suo Rapporto sulla Sostenibilità 2023, evidenziando i progressi nella performance e gestione ambientale. I principali risultati includono:
1. Progredire verso una riduzione del 30% delle emissioni di carbonio in base all'intensità entro il 2028 rispetto ai livelli del 2018.
2. Superare l'obiettivo di riduzione delle emissioni di metano del 5%.
3. Aderire all'OGMP 2.0 e stabilire un obiettivo di intensità di metano Scope 1 dello 0,0375% per gli asset operati entro il 2028.
4. Eseguire la strategia NextGen Gas e supportare due hub per l'idrogeno selezionati dal DOE.
5. Ottenere punteggi di sostenibilità di alto livello, inclusa l'inclusione negli indici DJSI North America e World.
Il rapporto, redatto secondo gli Standard GRI 2021, copre le operazioni da gennaio a dicembre 2023 e ha ricevuto una verifica di terza parte per alcuni dati.
Williams (NYSE: WMB) ha publicado su Informe de Sostenibilidad 2023, destacando los avances en el rendimiento y gestión ambiental. Los logros clave incluyen:
1. Avanzar hacia una reducción del 30% en las emisiones de carbono basadas en la intensidad para 2028 en comparación con los niveles de 2018.
2. Superar el objetivo de reducción de emisiones de metano del 5%.
3. Unirse a OGMP 2.0 y establecer un objetivo de intensidad de metano de Alcance 1 de 0.0375% para los activos operados para 2028.
4. Ejecutar la estrategia NextGen Gas y apoyar dos centros de hidrógeno seleccionados por el DOE.
5. Obtener altas calificaciones en sostenibilidad, incluida la inclusión en los índices DJSI de América del Norte y Mundial.
El informe, preparado utilizando los Estándares GRI 2021, cubre las operaciones de enero a diciembre de 2023 y recibió una verificación de terceros para ciertos datos.
윌리엄스 (NYSE: WMB)가 2023 지속 가능성 보고서를 발표하며 환경 성과 및 관리의 진전을 강조했습니다. 주요 성과는 다음과 같습니다:
1. 2018년 수준 대비 2028년까지 강도 기준 탄소 배출량 30% 감소를 목표로 추진 중입니다.
2. 메탄 배출량 5% 감소 목표를 초과 달성했습니다.
3. OGMP 2.0에 가입하고, 운영 자산에 대한 목표 메탄 강도를 2028년까지 0.0375%로 설정했습니다.
4. 넥스트젠 가스 전략을 실행하고 DOE가 선정한 두 개의 수소 허브를 지원하고 있습니다.
5. DJSI 북미 및 세계 지수에 포함되는 등 최고의 지속 가능성 평가를 받았습니다.
이 보고서는 GRI 기준 2021을 기반으로 작성되었으며 2023년 1월부터 12월까지의 운영을 다루고 있으며 일부 데이터에 대해 제3자의 보증을 받았습니다.
Williams (NYSE: WMB) a publié son Rapport de Durabilité 2023, mettant en évidence les progrès dans la performance et la gestion environnementale. Les principales réalisations comprennent :
1. Avancer vers une réduction de 30 % des émissions de carbone basées sur l'intensité d'ici 2028 par rapport aux niveaux de 2018.
2. Dépasser l'objectif de réduction des émissions de méthane de 5 %.
3. Rejoindre l'OGMP 2.0 et établir un objectif d'intensité de méthane de Scope 1 de 0,0375 % pour les actifs exploités d'ici 2028.
4. Exécuter la stratégie NextGen Gas et soutenir deux hubs à hydrogène sélectionnés par le DOE.
5. Obtenir des scores de durabilité élevés, y compris l'inclusion dans les indices DJSI Amérique du Nord et Monde.
Le rapport, préparé selon les Normes GRI 2021, couvre les opérations de janvier à décembre 2023 et a reçu une assurance tierce pour certaines données.
Williams (NYSE: WMB) hat seinen Nachhaltigkeitsbericht 2023 veröffentlicht, der Fortschritte in der Umweltleistung und -verwaltung hervorhebt. Zu den wichtigsten Erfolgen gehören:
1. Fortschritte in Richtung einer Reduzierung der kohlenstoffintensitätsbasierten Emissionen um 30% bis 2028 im Vergleich zu den Werten von 2018.
2. Übertreffen des Ziels einer Reduzierung der Methanemissionen um 5%.
3. Beitritt zu OGMP 2.0 und Festlegung eines Methanintensitätsziels von Scope 1 von 0,0375% für die betriebenen Anlagen bis 2028.
4. Umsetzung der NextGen-Gasstrategie und Unterstützung von zwei vom DOE ausgewählten Wasserstoff-Hubs.
5. Erhalt von höchsten Nachhaltigkeitsbewertungen, einschließlich der Aufnahme in die DJSI Nordamerika und Welt Indizes.
Der Bericht, der nach GRI-Standards 2021 erstellt wurde, deckt den Zeitraum von Januar bis Dezember 2023 ab und erhielt eine Drittprüferbestätigung für ausgewählte Daten.
- Outperformed 5% methane emissions reduction target
- Set ambitious Scope 1 methane intensity target of 0.0375% by 2028
- Awarded two DOE CarbonSAFE Program grants for carbon storage
- Included in DJSI North America and World indices for multiple consecutive years
- Received top score in S&P Global's 2023 Corporate Sustainability Assessment for North America Oil & Gas Storage & Transportation industry
- Upgraded to 'A-' score on 2023 CDP Climate Change Questionnaire
- Maintained 'A' rating from MSCI
- Ranked first in Energy & Utilities industry by Newsweek's America's Most Responsible Companies 2024
- None.
Insights
Williams' latest Sustainability Report showcases significant progress in environmental performance, particularly in greenhouse gas emissions reduction. The company's commitment to decrease intensity-based carbon emissions by 30% from 2018 by 2028 aligns with the Science Based Targets initiative, demonstrating a proactive approach to climate change mitigation. This target, coupled with their outperformance in methane emission reduction, positions Williams as a leader in the midstream sector's sustainability efforts.
The company's participation in OGMP 2.0 and its ambitious Scope 1 methane intensity target of 0.0375% by 2028 are particularly noteworthy. This target is more stringent than the EPA's requirements, indicating Williams' dedication to exceeding regulatory standards. Such commitments can potentially lead to improved operational efficiency and reduced environmental impact, which may translate to long-term cost savings and enhanced stakeholder trust.
Williams' involvement in hydrogen hub projects and carbon storage initiatives demonstrates a forward-thinking approach to diversifying its business model in line with the energy transition. These projects could position the company favorably in emerging low-carbon markets, potentially opening new revenue streams and mitigating risks associated with traditional fossil fuel infrastructure.
The company's improved CDP Climate Change Questionnaire score and consistent inclusion in sustainability indices like DJSI reflect positively on its ESG performance. These recognitions can enhance Williams' appeal to ESG-focused investors and potentially lower its cost of capital. However, investors should note that while these achievements are commendable, the long-term financial implications of these sustainability initiatives remain to be seen in the context of the evolving energy landscape.
Williams' sustainability report, while not providing direct financial figures, offers insights into the company's strategic positioning and risk management that are relevant to investors. The company's focus on decarbonization and methane emission reduction aligns with increasing regulatory pressure and market demands for cleaner energy solutions. This proactive stance could help Williams avoid future compliance costs and potential penalties, thereby protecting its bottom line.
The investment in NextGen Gas and hydrogen projects demonstrates Williams' efforts to diversify its revenue streams and adapt to the changing energy landscape. While these initiatives may require significant upfront capital, they position the company to capitalize on emerging markets and potentially secure long-term contracts in low-carbon energy infrastructure.
Williams' consistent high rankings in sustainability indices and improved CDP scores can enhance its attractiveness to ESG-focused investors, potentially broadening its investor base and improving access to capital. This could lead to more favorable financing terms and a lower cost of capital, which would positively impact the company's financial performance.
However, investors should consider the potential short-term costs associated with implementing these sustainability initiatives. The report doesn't provide specific financial allocations for these projects, making it challenging to assess their immediate impact on profitability. Additionally, the long-term returns on investments in emerging technologies like hydrogen and carbon storage remain uncertain and may carry technological and market risks.
Overall, while the sustainability report paints a positive picture of Williams' environmental stewardship, investors should closely monitor how these initiatives translate into financial performance in upcoming earnings reports. The company's ability to balance sustainability investments with maintaining strong operational efficiency and shareholder returns will be important for its long-term financial health.
“Sustainability is central to our natural gas-focused strategy at Williams, and this report illustrates our core values in action as a best-in-class operator in the many communities we touch across the country,” said Williams President and CEO Alan Armstrong. “As demand for natural gas accelerates, Williams is applying innovative technology and operational improvements to further decarbonize our industry while reliably serving growing energy needs and delivering long-term returns for shareholders.”
Highlights of the report include the following:
Climate
-
Progress on Williams’ updated greenhouse gas emissions reduction goal to decrease intensity-based carbon emissions by
30% from 2018 by 2028, which aligns with shareholder priorities and is informed by the Science Based Targets initiative (SBTi) -
Reduced methane emissions to outperform our Annual Incentive Program target of a
5% reduction from a 3-year (2020-2022) average -
Became the first large-scale midstream company in the
U.S. to join OGMP 2.0, an international methane emissions reporting initiative, and approved a Scope 1 methane intensity target of achieving a0.0375% methane intensity of operated assets by 2028 – a goal that is lower than the threshold established in the EPA's methane intensity rulemaking
Innovation
- Continued executing strategy to commercialize NextGen Gas, providing full supply chain measurement and certification of methane intensity from production through delivery
-
Supporting two regional hydrogen hubs – one in the Pacific Northwest and the other in Appalachia – which the
U.S. Department of Energy (DOE) selected for investment and development -
Awarded two grants under the DOE’s Carbon Storage Assurance Facility Enterprise (CarbonSAFE) Program and partnered with the University of
Wyoming to evaluate permanent carbon storage
Community and employee engagement
- Volunteered at 92 nonprofit organizations in 19 states during Williams Volunteer Week
-
Contributed more than
$13.1 million Washington, D.C. - Conducted 589 total unique engagements with local community stakeholders
- Supported 10 Employee Resource Groups with total membership exceeding 1,350 employees
Sustainability Ratings and Rankings
- 2024 Dow Jones Sustainability Index (DJSI): named for the fourth consecutive year to the DJSI North America index and for the third consecutive year to the DJSI World index
- S&P Global Corporate Sustainability Assessment: received the top score in the 2023 Corporate Sustainability Assessment (CSA) in the North America Oil & Gas Storage & Transportation industry and the second highest score in the Oil & Gas Storage & Transportation industry globally for DJSI-eligible companies
- 2023 CDP Climate Change Questionnaire: received an upgraded ‘A-’ score on the 2023 CDP Climate Change Questionnaire, ranking well above the oil and gas storage and transportation sector (‘C’) and North American regional (‘C’) averages
- MSCI: maintained an ‘A’ rating
- Named one of America’s Most Responsible Companies 2024 by Newsweek magazine, ranking first in the Energy & Utilities industry
Williams’ 2023 Sustainability Report covers operations from January 1 through December 31, 2023, unless otherwise noted, and was prepared in accordance with the Global Reporting Initiative (GRI) Standards 2021, including GRI 11: Oil and Gas Sector Standard. The report references the Sustainability Accounting Standards Board (SASB) Oil & Gas – Midstream Standard, Task Force on Climate-related Financial Disclosures (TCFD), the United Nations Sustainable Development Goals (SDGs) and IFRS Foundation S2 Climate-related Disclosures. In addition, Williams’ 2023 Sustainability Report received independent third-party limited assurance from ERM Certification and Verification Services (ERM CVS) for select 2023 greenhouse gas emissions, pipeline integrity and safety data.
About Williams
Williams (NYSE: WMB) is a trusted energy industry leader committed to safely, reliably, and responsibly meeting growing energy demand. We use our 33,000-mile pipeline infrastructure to move a third of the nation’s natural gas to where it's needed most, supplying the energy used to heat our homes, cook our food and generate low-carbon electricity. For over a century, we’ve been driven by a passion for doing things the right way. Today, our team of problem solvers is leading the charge into the clean energy future – by powering the global economy while delivering immediate emissions reductions within our natural gas network and investing in new energy technologies. Learn more at www.williams.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240731118706/en/
MEDIA:
media@williams.com
(800) 945-8723
INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075
Caroline Sardella
(918) 230-9992
Source: Williams
FAQ
What is Williams' (WMB) greenhouse gas emissions reduction goal for 2028?
How did Williams (WMB) perform in methane emissions reduction in 2023?
What is Williams' (WMB) Scope 1 methane intensity target for 2028?
How is Williams (WMB) involved in hydrogen hub development?
What sustainability indices has Williams (WMB) been included in for 2024?
