New Jersey Resources Outlines Sustainability Agenda
January 28, 2020:
In an article released last week, President and CEO Steve Westhoven of New Jersey Resources (NYSE: NJR), parent company of New Jersey Natural Gas, outlined a sustainability agenda for the company, including a commitment to voluntarily reduce its New Jersey operational emissions to 50% of 2006 levels by 2030.
As a member of ONE Future, New Jersey Natural Gas already participates in voluntary emissions measurement and reporting. Using uniform, EPA-approved reporting protocols, the coalition registered a 2018 methane intensity number of 0.326%, a decrease of 41% from its 2017 number of 0.552%. Each segment realized decreases in methane emissions by varying magnitudes while realizing an increase in production and throughput. The full report can be found on the ONE Future website.
Additional emissions reduction efforts from New Jersey Resources includes a voluntary 2030 emissions reduction target aligned with the state’s Global Warming Response Act (GWRA).
Organizationally, the company announced the creation of an Office of Sustainability, to more effectively drive sustainability results throughout the company and the launch of a dedicated sustainability microsite, www.NJRSustainability.com, to strengthen transparency and stakeholder communications.
“NJR continues to embrace a clean energy future and has a strong track record of leading the way on sustainability. Today, we’re making it clear that we are going even further with a comprehensive sustainability agenda and an ambitious 50% emissions reduction target for our New Jersey operations by 2030,” said President and CEO Steve Westhoven. “Our strategy is anchored in the belief and recognition that our company can responsibly grow and reduce emissions by seizing the many opportunities in increased energy efficiency and solar investments, decarbonizing the gas stream and making technology upgrades to our infrastructure. I’m proud to take these steps and build on NJR’s strong commitment to sustainability.”
NJR’s 2030 emissions reduction target continues the company’s alignment with the state’s Global Warming Response Act (GWRA), which was signed into law in 2007 and calls for an 80% reduction in New Jersey’s greenhouse gas emissions from 2006 levels by 2050.
NJR previously committed to the initial GWRA target of a 20% reduction in emissions by 2020 – and met that goal in 2012 for most parts of its business, including reductions in its fleet, pipeline and facility emissions.
Kudos to New Jersey Resources for the above and beyond efforts that they are making to be a responsible corporate steward to the environment, we’re proud to have count their main subsidiary, New Jersey Natural Gas, as a member of our coalition.