Today (June 8), Spire Inc. (NYSE: SR) published its annual Sustainability Report covering the company's continued progress across four key priorities: the environment, safety, people and governance, while highlighting 2022 activities that move the company toward becoming carbon neutral by midcentury.
The report highlights the company's continued focus on operating in a sustainable manner, while reporting on Environmental, Social and Governance (ESG) efforts. In addition, the report features disclosures aligned with ONE Future, the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-Related Financial Disclosures (TCFD). With the 2022 report, Spire has achieved 100% compliance with the Global Reporting Index (GRI).
Spire's sustainability efforts have earned national recognition four years in a row as one of America's Most Responsible Companies, with Newsweek citing strong performance in three areas environment, social and corporate governance.
"Together, our 3,600 hardworking employees have grown and transformed Spire, while focusing on the safety and reliability of our systems, reducing emissions, and advancing innovation to better serve our customers," said Suzanne Sitherwood, Spire president and CEO. "Our future is bright, and we'll continue using the strength of our energy to keep advancing and innovating for a more sustainable energy future."
Highlights of the report include:
Environment. In support of Spire's commitment to become a carbon neutral company by midcentury, the company has continued to move steadily toward this goal.
In 2022, Spire achieved a reduction in methane emissions from its core gas utility distribution system by more than 50% since 2005 and is on target to reduce these emissions 73% by 2035. In addition, Spire:
- Reported a 24,400 metric ton CO2e reduction, or 6.3%, compared to our 2021 baseline, including a 19% reduction in total emissions at Spire Storage's Wyoming facility
- Replaced 255 additional miles of aging infrastructure, which resulted in a 19.5% leak reduction per 1,000 system miles of distribution pipelines compared to FY21, marking a 66% reduction in leaks over the last five years
- Began implementing a renewable natural gas (RNG) strategy
Safety. Safety is a core value at Spire, with the safety and well-being of employees, customers and communities a daily focus. In FY22, Spire:
- Completed installation of new technology to promote safe driving of company vehicles
- Saw substantial drops in both the Occupational Safety and Health Administration Days Away, Restricted, or Transferred (DART) rate (18.5%) and the motor vehicle accident rate (17.6%)
People. With 3,500 employees who dedicate their time, talent and passion to serving customers every day, Spire fosters a safe and inclusive culture where everyone feels they belong.
And as champions of people, Spire meets the evolving needs of customers by enhancing customer programs and services.
In addition, Spire continues to advance the communities they serve through targeted investments in charitable organizations and economic development initiatives, as well as sponsorships and memberships in organizations that align with the company's values and business strategy. In FY22, Spire:
- Continued developing and maintaining a strong workforce, from how the company recruits new employees, to integrating diversity, equity and inclusion (DEI) efforts, to developing the workforce and keeping employees informed and engaged
- Helped connect families with more than $27 million in federal, state and Spire energy assistance funding
- Supported communities with over $5.9 million in social investment. In addition, Spire matched more than $111,000.00 in donations to support organizations employees care about most. Since 2017, Spire has made nearly $600,000 in matching gifts to nonprofits
- Saw almost 1,500 employees support 132 community organizations across Alabama, Mississippi, Missouri, Texas and Wyoming in volunteer service activities as part of the Day for Good campaign - a 20% increase in participants over 2021 numbers. In total, employees volunteered more than 13,000 hours, a 45% increase over 2021.
Governance. Spire's strong financial and operational performance results are rooted in effective corporate governance practices, overseen by the board of directors. Among highlights:
- Spire performed a robust evaluation of director skills and experience that will be needed in future Board succession planning efforts
- Spire's board continued to refine its oversight responsibilities over sustainability efforts
Spire's complete Sustainability report can be accessed at spireenergy.com/sustainability.
About Spire
At Spire Inc. (NYSE: SR), we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.7 million homes and businesses making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing, Spire STL Pipeline and Spire Storage. We are committed to transforming our business through growing organically, investing in infrastructure, and advancing through innovation. Learn more at SpireEnergy.com.
Media Contact:
Jason Merrill
314-365-7125
Jason.Merrill@SpireEnergy.com
