#United States #Natural Gas #EQT Corporation #Pittsburgh #ESG Report

EQT's 2024 ESG Report: A Milestone in Sustainability

EQT Corporation, a leading force in the natural gas industry, has unveiled its 2024 Environmental, Social, and Governance (ESG) Report, aptly titled "Promises Made, Promises Delivered." This report underlines a remarkable journey of transformation for EQT, culminating in a significant milestone as the world's first large-scale traditional energy producer to achieve net zero Scope 1 and 2 greenhouse gas emissions. This achievement not only sets a precedent within the energy sector but also reaffirms EQT's pivotal role in shaping a cleaner energy future.

The Path to Net Zero

Since taking the helm in 2019, EQT's President and CEO, Toby Z. Rice, has steered the company towards its ambitious mission—aiming to be the operator of choice and deliver cleaner, more affordable energy solutions. Under his leadership, EQT has made astounding strides in reducing greenhouse gas emissions. The company reported a remarkable 67% reduction in Scope 1 emissions from its historical production assets since 2018, comfortably ahead of its initial 2025 goals.

Over the years, EQT has focused on major initiatives to enhance environmental stewardship. By the end of 2024, 96% of produced water was successfully recycled, up from 81% in 2019, demonstrating the company's commitment to sustainable water use. The achievement of a company-wide Scope 1 methane emissions intensity of 0.0070%, far surpassing the 2025 target of 0.02%, further cements EQT’s leadership in methane reduction efforts, bolstered by the receipt of a "Gold Standard" rating from the United Nations' Oil and Gas Methane Partnership.

Additionally, EQT has partnered with the West Virginia Division of Natural Resources to launch an innovative carbon sequestration project, promoting the absorption of carbon dioxide across over 400,000 acres of land. This initiative reflects EQT's long-term vision to nurture the environment while fulfilling energy demands.

Economic Contribution and Community Engagement

The 2024 ESG report highlights EQT’s multifaceted contributions beyond environmental compliance. In terms of economic impact, the company generated around $4 billion in gross domestic product, contributing to the local economies where it operates. Additionally, it paid out over $665 million in royalties to local landowners, while also generating around 20,764 ancillary jobs within these communities.

Moreover, EQT has consistently shown its commitment to social responsibility through significant philanthropic efforts, investing nearly $70 million in local initiatives and improvements throughout 2024. EQT employees also dedicated over 19,000 volunteering hours to various community service initiatives, further embodying the spirit of corporate citizenship.

Recognized as a National Top Workplace for four consecutive years, EQT's dedication to employee satisfaction is evident in its positive workplace culture, encouraging an engaged and motivated workforce.

Governance for a Sustainable Future

On the governance front, EQT incorporates ESG performance metrics into its strategic incentive compensation programs for executives, aligning their goals with the company’s environmental and safety performance. Notably, 20% of EQT’s Short-Term Incentive Plan for the year was tied to environmental and health metrics, reflecting a commitment to accountability in its practices.

With half of its board members representing diverse backgrounds, EQT emphasizes inclusivity and diverse perspectives in governance, contributing to stronger decision-making and innovation within the company. EQT has maintained a strong "AA" rating from MSCI for its ESG commitments and initiatives.

Conclusion

As stakeholders seek to navigate a rapidly changing energy landscape focused on sustainability, EQT Corporation serves as a benchmark for traditional energy companies striving for transformative growth. Its 2024 ESG Report not only illustrates the significant advancements made in environmental impact and social contributions, but also highlights EQT's unwavering commitment to delivering cleaner and more reliable energy solutions to meet global demands.

EQT's journey towards innovation and accountability can be explored in detail in their full 2024 ESG Report available at esg.eqt.com.