CNX Resources Corp., an independent natural gas development, production, and midstream company, recently released its annual Corporate Responsibility Report.
The report details company objectives and initiatives taken to meet its environmental, social, and governance (ESG) philosophy. It also highlights how the company is meeting standards set by the Sustainability Accounting Standards Board and the Task Force on Climate-related Financial Disclosures.
“Our tangible, impactful, and local ESG approach coupled with our nonreplicable asset base results in a net carbon negative footprint today, a truly sustainable business model of a low-cost producer that regularly returns capital to shareholders, and the opportunity to pursue exciting new opportunities for further methane capture and abatement,” Nick DeIuliis, CNX president and CEO, said. “We believe we are the rare combination of tangible, impactful, and local ESG results coupled with low-risk free cash flow per-share generation that presents the best-in-class option for ESG-focused investors.”
The report addresses three areas: environmental and safety, social responsibility, and governance.
More than 300,000 metric tons of third-party methane were vented as part of an annual abatement. This is equivalent to approximately 7.5 million metric tons of carbon dioxide emissions.
In 2020, the company recycled 99.6 percent of produced water in the core operating area.