HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood” or “CEQP”) announced today the publication of its inaugural 2018 sustainability report highlighting its MLP industry leading sustainability program. The report, entitled Growing Through Connections, enhances transparency on Crestwood’s environmental, social and governance (ESG) performance and highlights the company’s three-year sustainability strategy as it continues to integrate sustainability into every aspect of the business. The 2018 sustainability report is available at https://esg.crestwoodlp.com.
“Crestwood is proud to be a leading MLP midstream company with the early issuance of a sustainability report, demonstrating our long-term commitment to sustainability and our best-in-class approach to environmental stewardship, safety and community relations,” said Robert G. Phillips, Chairman, President and Chief Executive Officer of Crestwood’s general partner. “Our approach to sustainability takes into consideration the interest of all of our stakeholders – from those who invest in us, work for us and partner with us, to those who live near our projects and operations. Our strategy is to identify ESG risks and opportunities most significant to our business and integrate them into our strategic framework and capital allocation decisions, which will help us deliver solid financial results and position us to grow and prosper in the long-term.”
Highlights in Crestwood’s 2018 sustainability report include:
- Crestwood’s materiality assessment: Crestwood conducted its first materiality assessment to identify, assess and prioritize the ESG topics that are most significant to the business and its stakeholders. Led by third-party consultants, the assessment process identified 12 material topics that shaped the report content and key performance indicators.
- Three year sustainability strategy: Crestwood identified five key sustainability focus areas that represent not only risks to be managed, but also significant opportunities. These include: Supply Chain Management, ESG Investor Strategy and Disclosure, Environmental Stewardship, Diversity and Inclusion, and Social Investment. These focus areas are aligned with Crestwood’s business goals, while also being responsive to its stakeholders.
- Ensuring the safety of employees and contractors: Crestwood’s safety performance was strong in 2018, with improvements in its leading and lagging indicators. Crestwood saw a 9 percent reduction in its Total Recordable Incident Rate and a 59 percent reduction in its Preventable Vehicle Incident Rate for employees and contractors.
- Reducing operational footprint: Crestwood is focused on minimizing habitat disturbances and is implementing leak detection methods to improve operational efficiencies and reduce emissions.
- Building resilient relationships with communities: Since 2013, Crestwood has invested over $2 million in long-term economic development projects in North Dakota that enhance local access to healthcare and early childhood education in addition to annual sponsorships of community and tribal events.
Crestwood’s first sustainability report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards: Core option. GRI is an international independent standards organization and is the most widely adopted global standard for sustainability reporting. New investor and ESG presentation materials were also posted to Crestwood’s website at www.crestwoodlp.com.
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood Equity is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling, and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.
Forward Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in Crestwood’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.