National Fuel Announces Greenhouse Gas Emissions Reduction Targets and Emissions Reduction Pathway for New York Utility Business

WILLIAMSVILLE, N.Y., March 29, 2021 (GLOBE NEWSWIRE) -- National Fuel Gas Company (NYSE: NFG) (National Fuel or Company) announced today targets for greenhouse gas (GHG) emissions reductions for its utility segment, National Fuel Gas Distribution Corporation (Distribution), and an expansive pathway for its New York utility business to achieve the emissions reduction targets outlined in New York’s Climate Leadership and Community Protection Act (Climate Act).

Significant GHG Emissions Reduction Targets for the Company’s Utility’s Operations

Distribution is targeting GHG emissions reductions of 75% by 2030, and 90% by 2050, from 1990 levels for its utility delivery system, driven by its ongoing modernization efforts, including continued replacement of older vintage mains and services.¹ These targets surpass those set by New York state under the Climate Act, building upon the Company’s environmental initiatives detailed in its Corporate Responsibility Report and continuing its progress toward incorporating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).

“Over the past decade, natural gas has played a significant role in decarbonizing the U.S. economy and National Fuel has been a key contributor to those emissions reductions,” said David P. Bauer, National Fuel President and Chief Executive Officer. “With our long-standing focus on safe and reliable service, we’ve made significant investments to modernize our facilities over the past several years. As we look forward, we expect the Company will continue to enhance its environmental initiatives, focusing on further reducing our emissions profile and aligning our climate-related disclosures with the TCFD framework so that National Fuel remains an important part of the energy solution for decades to come.”

¹ Baseline emissions and emissions reduction target for scope 1 emissions are calculated pursuant to the reporting methodology under the United States Environmental Protection Agency’s GHG Reporting Program (current Subpart W), primarily Distribution pipeline mains and services.

Emissions Reduction Pathway for the Company’s New York Utility Business

National Fuel also issued its pathway to achieve the emissions reduction goals outlined in the Climate Act for its New York utility business, Pathway to a Low-Carbon Future (Pathway), developed using the findings of a study performed by Guidehouse Inc., an independent consultancy.