EQT Releases 2018 Corporate Social Responsibility Report
PITTSBURGH--(BUSINESS WIRE)--Aug 28, 2018--EQT Corporation has released its new online 2018 Corporate Social Responsibility (CSR) report “ This report details EQT’s achievements and progress toward its sustainability efforts during fiscal year 2017, highlighting the Company’s management approach, performance, and strategic focus on continually strengthening its corporate social responsibility commitments to investors, leaseholders, local communities, employees, and the environment.
In early 2017, EQT conducted an assessment to strategically guide its sustainability reporting – and through this evaluation, identified several key areas believed to be important to the Company’s various stakeholder groups. EQT’s seventh annual CSR report, prepared in accordance with the Global Reporting Initiative (GRI) Standards – Core option, addresses the economic, environmental, and social topics identified in the assessment.
This year’s report theme, Journey Beyond the Horizon, is both an account of the Company’s considerable progress during the last several years and a preview of EQT’s plans for continuous improvement in the areas of responsible environmental stewardship, sound governance, and sustainability. “We will continue to incorporate lessons learned and best practices to enhance our operations and reporting strategies, while remaining focused on the safety of our employees, contractors, and communities,” said Lew Gardner, General Counsel and Vice President, External Affairs for EQT Corporation.
Highlights of EQT’s 2018 Corporate Social Responsibility report include:
SafetyEQT employees participated in more than 15,000 hours of safety training in 2017. With contractors making up nearly 75% of EQT’s total workforce hours, the Company aggressively pursued steps to refine its contractor safety management program by: Tracking contractor safety incident rates (injury and preventable vehicle accidents) provided by contractors in the ISNETWorld® database.Incorporating a contractor safety auditing process within EQT’s contractor safety qualification program.Increasing field safety inspections by nearly 15%.
Environmental StewardshipIn 2017, approximately 72% of the water used for EQT’s completions operations was derived from recycled water sources. EQT continued to invest in innovative technologies, leverage industry best practices, reuse water whenever possible, and disclose the chemical makeup of fracturing fluids in its efforts to protect the freshwater in communities where it operates. EQT is working to reduce methane emissions across its supply chain and gain insights on how to improve its own processes. In 2018, EQT joined the ONE Future Coalition, a group of natural gas companies working together to use a science-based approach to reduce methane emissions across the industry’s supply chain. EQT is currently evaluating its methane emissions against the 1% target and expects to develop a baseline for methane emission reductions in 2018 – with progress reporting expected during 2019.
Community InvestmentIn 2017, EQT and the EQT Foundation collectively, along with other corporate funds, contributed approximately $12 million to local communities. Of that amount: The EQT Foundation awarded a record high of more than $6.5 million in grants, scholarships, and other charitable contributions to non-profit organizations and programs throughout southwestern Pennsylvania and northern West Virginia.EQT’s local giving and community sponsorship programs totaled just under $1 million.EQT invested approximately $4.4 million to improve roads and associated infrastructure in communities throughout Pennsylvania and West Virginia, where the majority of EQT’s activities take place.
Economic ImpactIn 2017, EQT activities generated nearly $540 million in state and local tax revenues, supporting state and local governments. This number increased from $481 million in 2016 and $337 million in 2015. In addition to its direct employees, EQT supported approximately 39,000 ancillary jobs across its operations in 2017 — a 20% increase from 2016. EQT generated an average labor income for employees, direct contractors, and suppliers that met or exceeded U.S. median household income of $59,039 in 2017.
Since 2012, EQT has published annual sustainability reports in accordance with GRI guidelines to demonstrate its commitment to transparency and accountability. EQT is one of the few U.S.-based energy companies to voluntarily pursue this degree of disclosure – significantly enhancing EQT’s transparency to its various stakeholders regarding the Company’s safe and responsible operations and commitment to continuous improvement.
About EQT Corporation:
EQT Corporation is an integrated energy company with emphasis on Appalachian area natural gas production, gathering, and transmission. With more than 130 years of experience and a long-standing history of good corporate citizenship, EQT is the largest producer of natural gas in the United States. As a leader in the use of advanced horizontal drilling technology, EQT is committed to minimizing the impact of drilling-related activities and reducing its overall environmental footprint. Through safe and responsible operations, EQT is helping to meet our nation’s growing demand for clean-burning energy, while continuing to provide a rewarding workplace and enrich the communities where its employees live and work. EQT owns the general partner interest and a 91% limited partner interest in EQT GP Holdings, LP, which owns the general partner interest, all of the incentive distribution rights, and a portion of the limited partner interest in EQT Midstream Partners, LP.
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CONTACT: EQT Corporation
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SOURCE: EQT Corporation
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PUB: 08/28/2018 04:06 PM/DISC: 08/28/2018 04:06 PM