EEI and AGA Update ESG/Sustainability Reporting Template to Include Natural Gas Metrics
The Edison Electric Institute (EEI) and the American Gas Association (AGA) today announced that they have worked together to integrate environmental, social, governance, and sustainability (ESG/sustainability) reporting metrics related to natural gas operations into the EEI ESG/sustainability template. Over the remainder of 2018 and through early 2019, these metrics will be utilized by participating natural gas companies, in addition to the electric companies that already are using the Version 1 EEI ESG/sustainability template.
“The updated EEI ESG/sustainability reporting template will enable energy companies to provide the financial sector with more uniform, consistent, and transparent ESG/sustainability data and information that now includes important natural gas metrics,” said EEI President Tom Kuhn. “EEI’s pilot and Version 1 ESG/sustainability reporting template had a high level of member participation and was well-received by investors, key stakeholders, and customers. We are pleased to partner with AGA on this important initiative and look forward to continuing our work on future versions of the EEI ESG/sustainability template.”
“AGA’s new ESG metrics build on the excellent work of EEI and will provide simple, transparent voluntary sustainability reporting for natural gas distribution, transmission, storage, gathering and boosting operations,” said AGA President and CEO Dave McCurdy. “Working with our members, we developed metrics tailored to our sector and incorporated input from investors and stakeholders. Natural gas utilities have a strong track record of success with voluntary initiatives in the areas of safety and sustainability, and we anticipate a similar robust participation in this new ESG initiative.”
Over the past two years, EEI led stakeholder working groups to develop the EEI ESG/sustainability template, which encourages voluntary reporting of ESG/sustainability information in both quantitative and qualitative formats. The pilot ESG/sustainability reporting template was launched in December 2017, and Version 1 was launched in August 2018. It is the first and only industry-focused and investor-driven reporting framework.
EEI and AGA have expanded upon this initiative to incorporate natural gas metrics into the reporting framework. The updated template was created to benefit electricity and natural gas customers and to help EEI and AGA member companies provide the financial sector with more uniform and consistent ESG/sustainability data and information regarding natural gas.
The natural gas distribution companies participating in the EEI ESG/sustainability reporting template will publish their 2017 data in the coming weeks and months. EEI and AGA, along with their member companies, will continue to work with investors to refine these metrics, and plan to fully incorporate the natural gas metrics into the Version 2 EEI ESG/sustainability template in mid-2019 for companies to report 2018 data. In addition, EEI and AGA member companies are committed to working with natural gas suppliers and producers to foster sustainability practices and reporting across the entire natural gas supply chain, leading to a cleaner energy future for all Americans.
For those interested in the information, it typically will be posted on the investor relations or sustainability sections of the natural gas distribution company’s website. AGA will post a list of participating member companies and include a link to each company’s website.
EEI member companies’ information can be found on its member companies’ investor relations or sustainability sections of their websites or on the EEI ESG website.
The American Gas Association, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 73 million residential, commercial and industrial natural gas customers in the U.S., of which 95 percent — more than 69 million customers — receive their gas from AGA members. Today, natural gas meets more than one-fourth of the United States' energy needs.