Report outlines the company’s efforts at environmental stewardship, community engagement, and business accountability.
NiSource Inc. (NYSE:NI) today released its 2023 ESG Report – Building Trust for a Sustainable Future. The report highlights efforts at advancing environmental, social, and governance (ESG) initiatives as key metrics for the company’s business strategy for the future of energy.
“Our commitment to putting employees, customers, and the communities we serve at the center of all we do is the catalyst for advancing our environmental, social, and governance objectives across our six-state service area,” said Lloyd Yates, NiSource President and Chief Executive Officer. “We believe this level of dedication for corporate excellence, effectively lays the groundwork for us to serve the energy needs of generations to come.”
The report outlines the steps NiSource has taken to further its net zero goal to reduce greenhouse gas emissions from our operations by 2040, covering Scope 1 and Scope 2 emissions. The company has also supported land conservation programs, the restoration of hundreds of acres of electric and gas transmission rights of way to encourage biodiversity through integrated vegetation management, soil remediation, seeding, and other remedies.
NiSource gives back to communities by encouraging and rewarding thousands of hours of employee volunteerism, providing grants to community organizations, and having company representatives serve on boards of nonprofits that align with its ESG goals. Internally, the company fosters an inclusive workplace by embracing diversity, equity, and inclusion (DEI) initiatives by creating advancement opportunities for all and engaging with external partners and suppliers with likeminded goals.
NiSource is dedicated to ensuring effective and honest governance that drives and delivers long-term value to all stakeholders. This includes designing and adhering to a strategy that is environmentally responsible, fostering a strong corporate culture, maintaining ethical business conduct throughout the organization, and improving its communities.
“NiSource is preparing for a future with diverse energy options that are wholly accessible and will satisfactorily address the needs of our residential, commercial, and industrial customers,” said Dan Creekmur, Senior Vice President, Chief Sustainability Officer. “Integrating ESG principles will help us get there efficiently while enhancing our value as a company to customers, communities, employees, investors, and business partners.”
The 2023 ESG Report, an interim document, is the first in what is expected to be an annual report outlining how ESG priorities are supporting NiSource’s overall business strategies, including its Future of Energy strategy, which includes a dynamic range of clean energy solutions ranging from solar, wind, electricity, and renewable natural gas to achieve a sustainable supply of energy for all.
“We know that planning for the energy future is something that affects everyone,” said Yates. “Individual goals and outcomes may not fully align across the spectrum, which is why any decisions or discussions around how we source, produce, and use that energy must involve diverse perspectives in the conversation. Many of those decisions are driven by our ESG priorities.”
NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability Index - North America. Additional information about NiSource, its investments in modern infrastructure and systems, its commitments and its local brands can be found at www.nisource.com. Follow us at www.facebook.com/nisource, www.linkedin.com/company/nisource or www.twitter.com/nisourceinc. NI-F
This press release contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one of those factors could cause actual results to differ materially from those projected. These forward-looking statements include, but are not limited to, statements concerning our plans, strategies, objectives, expected performance, and any and all underlying assumptions and other statements that are other than statements of historical fact. Expressions of future goals and expectations and similar expressions, including "may," "will," "should," "could," "would," "aims," "seeks," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "targets," "forecast," and "continue," reflecting something other than historical fact are intended to identify forward-looking statements. All forward-looking statements are based on assumptions that management believes to be reasonable; however, there can be no assurance that actual results will not differ materially.
Factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this press release include, among other things, our ability to execute our business plan or growth strategy, including utility infrastructure investments; potential incidents and other operating risks associated with our business; our ability to adapt to, and manage costs related to, advances in, or failures of, technology; impacts related to our aging infrastructure; our ability to obtain sufficient insurance coverage and whether such coverage will protect us against significant losses; the success of our electric generation strategy; construction risks and natural gas costs and supply risks; fluctuations in demand from residential and commercial customers; fluctuations in the price of energy commodities and related transportation costs or an inability to obtain an adequate, reliable and cost-effective fuel supply to meet customer demands; the attraction and retention of a qualified, diverse workforce and ability to maintain good labor relations; our ability to manage new initiatives and organizational changes; the actions of activist stockholders; the performance of third-party suppliers and service providers; potential cybersecurity-attacks; increased requirements and costs related to cybersecurity; any damage to our reputation; any remaining liabilities or impact related to the sale of the Massachusetts Business; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the physical impacts of climate change and the transition to a lower carbon future; our ability to manage the financial and operational risks related to achieving our carbon emission reduction goals; our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; any adverse effects related to our equity units; adverse economic and capital market conditions or increases in interest rates; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; continuing and potential future impacts from the COVID-19 pandemic; economic conditions in certain industries; the reliability of customers and suppliers to fulfill their payment and contractual obligations; the ability of our subsidiaries to generate cash; pension funding obligations; potential impairments of goodwill; the outcome of legal and regulatory proceedings, investigations, incidents, claims and litigation; potential remaining liabilities related to the Greater Lawrence Incident; compliance with applicable laws, regulations and tariffs; compliance with environmental laws and the costs of associated liabilities; changes in taxation; and other matters set forth in Part I, Item 1, "Business," Item 1A, "Risk Factors" and Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations," of the company's annual report on Form 10-K for the year ended December 31, 2022, and matters set forth in our quarterly reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023, some of which risks are beyond our control.
All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.