Yahoo Finance Essential Utilities Named a Leader in Climate Action by USA TODAY
New infrastructure, renewable energy usage driving emissions reduction
BRYN MAWR, Pa., May 30, 2024--(BUSINESS WIRE)--Essential Utilities Inc. (WTRG) proudly announces its inclusion on USA Today’s prestigious list of America’s Climate Leaders for the second consecutive year. Compiled by USA Today and Statista, the list identifies U.S. companies demonstrating the most substantial reductions in greenhouse gas (GHG) emissions over a two-year period. This recognition highlights Essential’s significant progress in reductions achieved between 2020 and 2022, and follows the company being named to Newsweek's list of America's Most Responsible Companies.
In January 2021, Essential set a goal to reduce Scope 1 and 2 GHG emissions by 60 percent by 2035, compared to a 2019 baseline. Essential will achieve this through:
Renewable energy purchasing: Essential is actively increasing its procurement of renewable energy sources.
Extensive gas pipeline replacement: Replacing older, leak-prone pipelines is a primary driver of emission reductions.
Accelerated methane leak detection and repair: Essential employs advanced technologies to swiftly identify and address methane leaks.
Essential reports on its progress towards the 60 percent reduction goal biannually. By the end of 2022, the company achieved a significant 25 percent reduction in Scope 1 and 2 emissions compared to its 2019 baseline.
"One of Essential's core commitments is to protect our planet while providing life-sustaining natural resources to our customers," said Essential chairman and CEO Chris Franklin. "Our investments in infrastructure, particularly gas pipeline replacement, are crucial to reducing our carbon footprint. We’re proud to be a leader in this space and look forward to reporting on progress toward the accomplishment of our goals."
Nearly all of Essential's Scope 1 emissions stem from its gas operations, with a significant portion linked to fugitive methane leaks. To mitigate this, Essential employs an aggressive Long-Term Infrastructure Improvement Plan to systematically replace 3,000 miles of aging pipelines with more robust, non-corrosive materials. Essential’s Scope 2 emissions are linked to the electricity use for water and wastewater treatment and distribution. The company significantly reduced these emissions through processes to minimize energy consumption and by transitioning water and wastewater operations in four states to nearly 100 percent renewable electricity.
For more information on Essential’s commitment to reducing GHG emissions and its broader commitment to sustainability initiatives, visit esg.Essential.co.
About Essential Utilities
Essential Utilities, Inc. (NYSE:WTRG) delivers safe, reliable services that improve quality of life for individuals, families and entire communities. With a focus on water, wastewater and natural gas, Essential is committed to sustainable growth, operational excellence, a superior customer experience and premier employer status. We are advocates for the communities we serve, donating more than $4 million from the Essential Foundation each year, and are dedicated stewards of natural lands, protecting more than 7,600 acres of forests and other habitats throughout our footprint.
Operating as the Aqua and Peoples brands, Essential serves approximately 5.5 million people across 9 states. Essential is one of the most significant publicly traded water, wastewater service and natural gas providers in the U.S. Learn more at www.essential.co.
Forward-Looking Statements
This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which generally include words such as "believes," "expects," "intends," "anticipates," "estimates" and similar expressions. The Company can give no assurance that any actual or future results or events discussed in these statements will be achieved. Any forward-looking statements represent its views only as of today and should not be relied upon as representing its views as of any subsequent date. Readers are cautioned that such forward-looking statements are subject to a variety of risks and uncertainties that could cause the company’s actual results to differ materially from the statements contained in this release. Such forward-looking statements include, but are not limited to statements relating to the Company’s ability to reduce Scope 1 and Scope 2 greenhouse gas emissions by 60 percent by 2035 and how it will achieve this goal. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including the factors discussed in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, which is filed with the Securities and Exchange Commission. For more information regarding risks and uncertainties associated with The Company’s business, please refer to the Company’s annual, quarterly and other SEC filings. The Company is not under any obligation - and expressly disclaims any such obligation - to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
WTRGG
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Contacts
Media Contact:
Nick Paradise
External Communications Manager
Media Hotline: 1.877.325.3477
Media@Essential.co
