VALLEY FORGE, Pa.--(BUSINESS WIRE)--UGI Corporation (NYSE: UGI) continues to advance its strategic Environmental, Social, and Governance (“ESG”) initiatives and remains focused on providing its stakeholders with timely updates on key ESG activities.
Recently, UGI’s subsidiary, UGI Energy Services, LLC (“UGIES”) completed the sale of its ownership stake in the Conemaugh coal-fired power generation station. The sale of this non-core asset will reduce UGI’s Scope 1 (direct) emissions by more than 30%. This is another step toward achievement of our Company’s ambitious greenhouse gas emission reduction targets.
UGI is also actively investing to ensure it is well positioned to deliver renewable and sustainable energy solutions for its 3 million customers. One recent example is UGIES’ acquisition of GHI, a leading renewable natural gas (“RNG”) business. The GHI acquisition is a strategic investment that represents a growth opportunity in the renewable energy space and positions the Company to make additional investments in this rapidly developing area of renewable energy solutions.
UGI remains equally focused on the social aspect of its commitments to stakeholders. In alignment with UGI’s values to promote diversity, the Company recently created the Belonging, Inclusion, Diversity, & Equity (“BIDE”) Initiative. BIDE provides the blueprint for achieving greater diversity of thought, experience, culture, gender, race, and sexual orientation throughout the organization. As part of this initiative, UGI established new partnerships with the Urban Affairs Coalition and Big Brothers Big Sisters, further demonstrating UGI’s commitment to the communities it serves.
Lastly, UGI recently disclosed ESG metrics via the Sustainability Accounting Standards Board framework and the American Gas Association template to provide greater non-financial disclosure to our stakeholders. The Company also published a number of new policies including Human Rights, Supplier Code of Conduct, and Environmental, among others. These disclosures and polices can be found at UGI’s new ESG website: https://ugiesg.com/.
John L. Walsh, President and Chief Executive Officer of UGI Corporation, said, “I am pleased with the progress we are making on ESG, which represents a critical mandate for the company. The sale of Conemaugh will reduce UGI’s direct emissions by over 30% and the GHI acquisition will provide a platform for RNG growth. Additionally, the BIDE initiative, coupled with our new policies, represents an important step forward for UGI and aligns with the Company’s vision and values. We remain committed to growing our business responsibly, while meeting the social needs of our customers, employees, and communities. UGI is proud of the work we’ve accomplished on our ESG initiatives and looks forward to communicating additional progress in the future.”
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, 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 in eleven states, the District of Columbia 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.