- Company Issues 2022 ESG Report, “Transparency, Action, and Progress”
- Remains Committed to a 55% Reduction in Scope I Emissions by Fiscal 2025
- More than $200 million Committed to Renewable Solutions through May 2022; on Track to Meet Commitment of more than $1 Billion Invested by 2025
UGI Corporation 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.”
