Jun 2, 2022   SOURCE: BusinessWire

UGI Corporation Publishes 2022 ESG Report Outlining Strong Progress on All Key Initiatives

UGI Corporation (NYSE: UGI) (“The Company”) today announced that it has achieved a 35% reduction in Scope I (direct) emissions and is on track to meet its commitment of a 55% reduction by the end of fiscal 2025. The Company has also approved more than $200 million for investment in renewable solutions to date, and is on track to meet its commitment to invest over $1 billion by 2025.

These important achievements and many others are included in UGI’s fourth Environmental, Social and Governance (“ESG”) report titled, Transparency, Action, and Progress, which the Company issued today. The report also highlights UGI’s commitment to progress throughout all aspects of its ESG journey and aligns with the Company’s business activities to the United Nations Sustainable Development Goals.

Roger Perreault, President and Chief Executive Officer of UGI Corporation said, “In the past year, we made terrific strides to lower our emissions, invest in renewable solutions for our customers that do not require effort or investment on their part, sharply improve safety data, invest and support our local communities, and strengthen our commitment to diversity.”

The achievement of superior safety performance and supplier diversity are two important short- and long-term strategic initiatives for UGI. The Company’s Belonging, Inclusion, Diversity, & Equity (“BIDE”) initiative is the blueprint for achieving greater diversity of gender, race, culture, experience and thought throughout the organization.

“At UGI, the social components of ESG are critical to our culture, embody our core values and provide the building blocks for the future,” continued Perreault. “In an effort to align our ESG program with stakeholder expectations, we established two safety goals and a supplier diversity goal in last year’s report. As always, safety is not only our top priority, it is a way of life for us.”

In Fiscal 2021, UGI achieved critical safety and diversity goals including:

  • 26% decrease in total recordable injuries
    • Commitment: 35% reduction in total recordable injuries by 20252,3 (Per 200,000 hours; 2017 baseline)
  • 51% decrease in accountable vehicle incidents
    • Commitment: 50% Reduction in accountable vehicle incidents by 20254, 5,6 (Per 1,000,000 miles; 2017 baseline)
  • 11% increase with diverse suppliers
    • Commitment: improve spend with diverse tier 1 and tier II suppliers by 25% by 2025 (2020 baseline)

“At the center of all of our progress is our ultimate differentiator: UGI’s people,” said Perreault. “Last year, UGI employees donated over 50,000 hours to support community-based organizations and we celebrated our 100th year partnering with the United Way. Together, we made real progress toward meaningful goals and we are not even close to being done.”

“UGI has the distinct opportunity to drive unprecedented change in the energy sector with our renewables strategy that will benefit a more sustainable world now and for generations to come,” concluded Perreault. “We remain steadfast in making a difference in our local communities by being a trusted corporate citizen. And, we will continue to offer our employees a safe workplace that is inclusive and operates with the highest standards and integrity. We know that by achieving these goals, UGI can continue to be a company that customers want to work with; investor want to invest in; and where our employees will feel proud to build their careers.”

About UGI Corporation

UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas, in the Mid-Atlantic region of the United States and California, and internationally in France, Belgium, the Netherlands and the UK.

Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.

1Scope 1 emissions reduction target does not include emissions from the Mountaineer acquisition, which closed in 2021. The emissions from the Pine Run acquisition, announced in February 2021, will be included in the baseline 2020 number as this investment will contribute to our five year goal. The 2020 base number also takes a 5-year emissions average from the Hunlock generation facility to account for year-over-year differences in run time.

2All domestic UGI companies use the OSHA definition for Total Recordable Injuries (“TRIR”). TRIR represents the number of work-related injuries or illness’s requiring medical treatment beyond first aid, per 200,000 hours.

3UGI International reports rates in accordance with the Industrial Management System guidelines. A TRIR represents a work-related recordable injury to an employee or hired staff that requires medical treatment beyond first aid, as well as one that causes death, or days away from work.

4UGI Utilities and UGI Energy Services use the American Gas Association definition for AVI, which defines an AVI as a reportable motor vehicle incident in which the driver failed to do everything that reasonably could have been done to avoid the incident.

5UGI International reports rates in accordance with the Industrial Management System guidelines. An AVI represents an incident that caused or contributed to, in whole or in part, by actions of the company driver or contractor driver, or an incident that could have been avoided by the company driver, using reasonable defensive driving measures, which resulted in injury or damage, either to the vehicle, or to the object struck, regardless of value.

6AmeriGas defines an AVI as any incident that could have been preventable.