Canonsburg-based CNX Resources Corp., a ultra-low carbon intensive natural gas development, production, midstream, and technology company, recently released an updated version of its Corporate Sustainability Report featuring data for 2024.
“While most companies issue sustainability reports just once a year and move on, having checked the annual box, CNX believes that this information should be provided on a more real-time and transparent basis in keeping with our radical transparency philosophy,” Alan Shepard, CNX Chief financial officer said. “We also believe that ESG (environmental, social, and governance) metrics should be treated with the same rigor and frequency as financial data. By making these changes, CNX is empowering shareholders and the communities where it operates with the ability to better track progress and hold the company accountable in real time. Providing access to a dynamic ESG disclosure process underscores CNX’s dedication to continuous improvement and Radical Transparency across our business.”
The report was prepared integrating ESG priorities into its unique Appalachia First strategic vision and following Sustainability Accounting Standards Board and the Global Reporting Initiative standards.
Highlights include:
The company has invested $5 million into new technologies, including switching to electric-driven pumps at the Mamont Compressor Station in Westmoreland County, and has reduced methane intensity by nearly 30 percent in its production segment compared to 2023.
The company invested $20 million in the Kiski Water Line project that reduces water trucking and subsequently community impact in Westmoreland County.
CNX captured approximately 9.1 million metric tons of waste methane carbon dioxide equivalent.
Trucks fueled on compressed natural gas in southwestern Pennsylvania reduced emissions by 30 percent and related operating costs by 50 percent.
Headquarters at CNX added three new tenants and is now at 92 percent capacity.
The CNX board of directors has approved a $1.5 million reduction in CEO pay to support the expansion of the CNX Foundation’s efforts and its flagship initiative, the CNX Mentorship Academy.
The foundation contributed $3.7 million through 144 initiatives, and employees volunteered for more than 3,500 hours.
Student participation in the CNX Mentorship Academy increased 44 percent and now includes underserved students representing 28 schools/school districts.
CNX Resources focuses on Appalachia. The company had 8.54 trillion cubic feet equivalent of proved natural gas reserves as of Dec. 31.
The company will no longer issue a static annual report. Instead, its website will provide ESG Performance Scorecard data on a quarterly basis.