April 12 2021 | Press Release
PITTSBURGH, April 13, 2021 /PRNewswire/ -- CNX Resources Corp. (NYSE: CNX) today announced a substantial, multi-year community investment in the tri-state region. The $30 million commitment spans six years and reinforces the Company's focus on local, underserved communities and populations. Previously, the Company released comprehensive goals related to its 'hire local' supply chain and sourcing efforts and Diverse Business Enterprise (DBE) spend initiatives.
"While everyone is talking about sustainability and Environmental, Social, and Governance (ESG) these days, too few are delivering tangible and measurable results. We are on a mission to change the trajectory of our region and to improve the lives of our neighbors in communities left behind by a system focused on talk and abstract concepts rather than real outcomes. This commitment is not about words; it's about the people who make western Pennsylvania and the broader Appalachian region such a special place to live, work, and raise a family," said CNX President and CEO Nicholas J. DeIuliis.
Mr. DeIuliis continued, "Our industry is the lifeblood of the regional economy and the foundation of our social fabric. For us to succeed, we need healthy communities to provide a resilient workforce. These are not handouts; they are investments that will provide returns for our local communities and our ownership for years to come. This is what sustainability and ESG mean to CNX."
These investments represent a re-allocation of previously planned expenditures and are expected to generate long-term, sustainable economic returns for the region and the Company by removing barriers to socio-economic diversity and inclusion across the natural gas industry and beyond. The commitment will be effectuated while still allowing the Company to deliver on its previously announced, multi-year free cash flow generation plan.
The community investment pillars associated with CNX's $30 million commitment are intended to include:
Initial signature project commitments are to include:
To learn more about CNX's unique Environmental, Social, and Governance (ESG) approach, accomplishments, and goals, please visit: https://responsibility.cnx.com/esg-overview.html
About CNX Resources Corporation:
CNX Resources Corporation (NYSE: CNX) is the premier independent natural gas development, production, and midstream company, with operations centered in the major shale formations of the Appalachian basin.
Our vertically integrated model includes transmission, storage, gathering systems, and water infrastructure that support energy development from wellhead to end user. With the benefit of a more than 150-year legacy and a substantial asset base amassed over many generations, the company deploys a strategy focused on responsibly developing its resources to create long term per share value for its shareholders, employees, and the communities where it operates. As of December 31, 2020, CNX had 9.55 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information may be found at www.cnx.com.