CNX Releases 'Radically Transparent' Corporate Sustainability Report
2023 Report Details Progress Towards Unique Appalachia First Sustainability Goals Generating Long-term Value for Shareholders, Employees, and
"The 160-year legacy of CNX is rooted in being thoughtfully innovative, and that innovative spirit has shaped our unique Tangible, Impactful, Local ESG effort which is summarized in this report," commented CNX Chief Risk Officer
CNX's 2023 report outlines the Company's continued dedication to transparency, innovation, environmental stewardship, and community engagement, aligning closely with the standards set forth by prominent international frameworks such as the
Core to CNX's updated report is the Company's groundbreaking collaboration with the
"Through our commitment to Radical Transparency, we aim to lead the industry into a new era of responsible domestic energy development—one where facts and data prevail over speculation and ideology,"
Key highlights from the 2023 report include:
Unmatched Environmental Protection & Improvement Efforts:
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Radical Transparency: Established a first-of-its-kind environmental monitoring, data collection, and real-time public disclosure collaboration with the
Commonwealth of Pennsylvania . -
Emission Reductions:
- 30% year-over-year (YOY) decline in production segment's operational methane intensity.
- Reduced over 171,000 tons of methane CO₂e emissions since 2020.
- Joined the Appalachian Methane Initiative, further enhancing regional methane monitoring and emission mitigation efforts.
- Invested
$7 million to further drive methane emissions reductions, achieving an annualized benefit of 85,000 tons of CO₂e (achieved via improvements to pneumatic devices & liquids unloading procedures).
- Pioneering Waste Methane Capture: Captured approximately 9.1 million metric tons of waste methane CO₂e, far surpassing emissions from our activities.
- Innovation and Partnerships: Expanded New Technologies segment focused on waste methane abatement efforts coupled with other proprietary technologies to vertically expand markets using ultra-low carbon intensity products.
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Responsible Water Stewardship:
- Minimized freshwater consumption by sharing produced water among peers; recycled and reused more produced water than produced via CNX operations.
- Invested over
$19 million to upgrade and expand water infrastructure, further reducing water truck transport needs. - Continued diversifying freshwater sources to lessen water resource impacts and provide community co-benefits.
Tackling Appalachia's
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Community Investments:
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$5.6 million invested by CNX and theCNX Foundation in 2023 addressing region's most pressing issues. - Contributed
$15 million toward$30 million investment pledge through 2026 in local initiatives supporting underserved causes across our operating footprint.
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Supporting Regional Businesses:
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$347 million spend with local small businesses. -
$45 million paid in taxes and Impact Fees. - Expanded The HQ at CNX with 18 new tenants using low-cost workspace at Company headquarters. Total capacity currently at 26, or 82% full.
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Workforce Development :- Student participation in the CNX Mentorship Academy increased 35% to 85 students enrolled.
- Students represent 21 schools across five counties in southwestern
Pennsylvania .
Building Upon Strong Corporate Governance & Risk Management Foundation
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Employee Empowerment:
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$176,000 median employee compensation, 178% higher than median household income inPittsburgh region. - "Pay for Performance" philosophy encourages business goal achievements tied to total compensation, including ESG-linked incentives.
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Safety & Risk Management:
- 41% decrease YOY in lost time incident rate.
- 29% decrease YOY in total recordable incident rate.
To view this year's report and learn more about CNX's commitment to innovation, the environment, our people, and the Appalachian region, visit: https://sustainability.cnx.com/.
Cautionary Statements
We are including the following cautionary statement in this press release to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of us. With the exception of historical matters, the matters discussed in this press release are forward-looking statements (as defined in 21E of the Securities Exchange Act of 1934 (the "Exchange Act")) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income, and capital spending. When we use the words "believe," "intend," "expect," "may," "should," "anticipate," "could," "estimate," "plan," "predict," "project," "will," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe a strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond our control. Specific factors that could cause future actual results to differ materially from the forward-looking statements are described in detail under the captions "Forward-Looking Statements" and "Risk Factors" in our Annual Report on Form 10-K for the year ended
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