UGI Corporation, a distributor and marketer of energy products and services based in Valley Forge, Pa., recently announced the company’s positive progress with its strategic Environmental, Social, and Governance (ESG) initiatives.
UGI Energy Services, LLC (UGIES), a subsidiary of UGI, recently completed the sale of its ownership stake in the Conemaugh coal-fired power generation station, a non-core asset for the company, decreasing UGI’s Scope 1 (direct) emissions by more than 30 percent.
UGI is also actively investing in efforts, such as UGIES recent acquisition of GHI, to ensure delivery of renewable and sustainable energy solutions for its 3 million customers. The acquisition of GHI, a leading renewable natural gas business, represents UGI’s growth opportunity in the renewable energy space and positions the company to make additional investments in the rapidly developing industry.
“I am pleased with the progress we are making on ESG, which represents a critical mandate for the company,” John L. Walsh, president and CEO of UGI Corporation, said on Oct. 7. “We remain committed to growing our business responsibly, while meeting the social needs of our customers, employees, and communities. UGI is proud of the work we’ve accomplished on our ESG initiatives and looks forward to communicating additional progress in the future.”
UGI recently disclosed ESG metrics via the Sustainability Accounting Standards Board framework and the American Gas Association template to provide greater non-financial disclosure to our stakeholders. The company also published a number of new policies including Human Rights, Supplier Code of Conduct, and Environmental, among others.
In keeping an equal focus on the social aspects of its commitments to stakeholders and promote diversity, UGI also created the Belonging, Inclusion, Diversity, & Equality (BIDE) Initiative, which provides a blueprint for achieving greater diversity of thought, experience, culture, gender, race, and sexual orientation throughout the organization. Through the BIDE initiative, UGI established new partnerships with the Urban Affairs Coalition and Big Brothers Big Sisters.
“The BIDE Initiative, coupled with our new policies, represents an important step forward for UGI and aligns with the Company’s vision and values,” Walsh said.