CNX Releases Updated 2024 Corporate Sustainability Report, Announces Shift to Industry-Leading ESG Reporting

Rhea-AI Summary

CNX Resources Corporation (NYSE: CNX) has announced a significant shift in its ESG reporting strategy, moving from annual to continuous updates with quarterly ESG Performance Scorecard data. The company's 2024 Corporate Sustainability Report highlights several achievements: a 30% reduction in methane intensity in its production segment, capture of 9.1 million metric tons of waste methane CO₂e, and successful water management initiatives. Key community investments include the completion of the $20 million Kiski Water Line project, expansion of the CNX Mentorship Academy with 44% increased student participation, and $3.7 million in community contributions through 144 initiatives. The company's Radical Transparency program provides real-time environmental monitoring data, while new regional offices in North Apollo and Richlands, Virginia, enhance local presence. The Headquarters at CNX reached 92% capacity with 29 tenants, supporting small and minority-owned businesses.

Positive

• Shift to more frequent ESG reporting with quarterly updates demonstrates enhanced transparency
• 30% reduction in methane intensity in production segment
• Captured 9.1 million metric tons of waste methane CO₂e
• Completion of $20 million Kiski Water Line project improving operational efficiency
• Successful water management: recycled more produced water than generated
• $3.7 million invested in community initiatives
• 92% occupancy rate at Headquarters facility supporting local businesses

Negative

• CEO pay reduction of $5.5 million since 2022, including $1.5 million in 2025, could signal leadership concerns
• $5 million investment required for new methane reduction technologies indicates significant capital expenditure needs

PITTSBURGH, May 14, 2025 /PRNewswire/ -- CNX Resources Corporation (NYSE: CNX) today announced the release of its updated Corporate Sustainability Report featuring data for 2024. Additionally, continuing the Company's unprecedented brand of transparency and in a move further differentiating CNX's environmental performance and disclosures, the Company also announced that it will no longer issue a static annual report. Instead, CNX will update its website continuously and its ESG Performance Scorecard data on a quarterly basis. Upcoming quarterly updates will provide stakeholders with fresh data in a more real-time manner on critical environmental, social, and governance (ESG) topics.

"While most companies issue sustainability reports just once a year and move on, having checked the annual box, CNX believes that this information should be provided on a more real-time and transparent basis in keeping with our Radical Transparency philosophy. We also believe that ESG metrics should be treated with the same rigor and frequency as financial data," CNX Chief Financial Officer Alan Shepard said. "By making these changes, CNX is empowering shareholders and the communities where it operates with the ability to better track progress and hold the company accountable in real time. Providing access to a dynamic ESG disclosure process underscores CNX's dedication to continuous improvement and Radical Transparency across our business."

CNX's reporting is prepared following the Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI) standards, and integrates ESG priorities into its unique Appalachia First strategic vision. Highlights for 2024 include:

Environmental Stewardship: CNX's efforts to protect and improve the environment are revolutionary and unmatched:

• Radical Transparency – Creating Mutual Trust through Facts and Data: As CNX's novel Radical Transparency program advances across operating areas, results from continuous monitoring by Clean Air Engineering demonstrate CNX site-level emissions are far below nationally-designated air quality standards. Importantly, no sustained levels of asthma-inducing PM_2.5 or cancer-causing BTEX have been observed during any phase of development. Within the first year of the Radical Transparency program, hundreds of thousands of datapoints were collected, simultaneously reported to the Pennsylvania Department of Environmental Protection (PADEP) and transparently posted on the CNX website. The number of sites equipped with monitoring equipment continues to grow, with active and archived sites contributing to the real-time feed of air data, in addition to water and chemical data. 
  
  
• Bold Greenhouse Gas Reductions: Appalachian natural gas boasts the nation's lowest methane intensity of all producing regions, and CNX takes these qualities to the next level through its Emission Reduction Task Force that is continuously innovating to further reduce emissions. CNX reduced methane intensity by nearly 30 percent in its production segment compared to 2023. With a parallel mission to reduce methane in its midstream segment, CNX invested $5 million into new technologies, including switching to electric-driven pumps at the Mamont Compressor Station in Westmoreland County, PA. 
  
  
• Pioneering Waste Methane Capture: CNX captured approximately 9.1 million metric tons of waste methane CO₂e. Importantly, the U.S. Treasury recognized the value that captured waste coal mine methane presents as a feedstock for clean hydrogen production in their final tax credit rules (45V). CNX is encouraged by this milestone and remains committed to advocating for opportunities to fully realize the benefits this ultra-low-carbon-intensity fuel source can unlock in the Appalachian region and beyond.
  
  
• Innovation and Partnerships: Last year was another year of differentiation at CNX, advancing oilfield services solutions that provide cost, safety, and environmental efficiencies for the industry. CNX launched the AutoSep^SM Technologies (AutoSep) joint venture with Deep Well Services (DWS), which introduced an automated flowback system for the completions process that leverages CNX's technical development capabilities with the service quality standard DWS provides.
  
  CNX also reached compressed natural gas (CNG) milestones during 2024, notably completing the first full year of deploying CNG-fueled water-hauling trucks in southwestern Pennsylvania with FORCE Environmental Solutions. By utilizing CNG, these trucks reduce emissions by 30 percent and related operating costs by 50 percent.
  
  
• Water Stewardship: CNX recycled and reused more produced water than it generated by consuming produced water from its peers, minimizing freshwater consumption. In 2024, CNX continued to upgrade and expand its water infrastructure—further reducing the need to transport water via truck in local communities and diversifying freshwater sources to lessen CNX's impact on local water resources.

Community and Workforce: Tangible and Local Investments – CNX has a unique commitment to local communities. CNX employees roll up their sleeves and tackle the toughest of issues:

• Community Engagement – Transparency, Dialogue, and Active Listening: At its core, Radical Transparency is about open-sourcing environmental data. But Radical Transparency also encompasses CNX's openness with stakeholders and local communities, always welcoming questions and seeking feedback. Through a combination of data-driven efforts and community open houses for local residents to directly interact with CNX employees, CNX is learning more about its communities' needs and adapting operations to best fit each operating area's unique characteristics.
  
  
• Community Investments: In 2024, work in Westmoreland County and the Alle-Kiski Valley came into focus as activity shifted to that area. Importantly, the $20 million Kiski Water Line project was completed in June and is better serving CNX's local operations while delivering water resource options for area residents. The water line significantly reduces water trucking and subsequently community impact. The 20" line is expected to serve as the primary alternative to water purchased from the Municipal Authority of Westmoreland County (MAWC) during voluntary or mandatory water conservation periods.
  
  Complementing this growing operational footprint, CNX opened an office in North Apollo, southern Armstrong County, providing access for residents, local businesses, and landowners to the CNX team. With the acquisition of Apex Energy's upstream and midstream assets, this office serves as a central location for new landowners, community members, and other stakeholders in what CNX refers to as its CPA operating footprint.
  
  Moving to CNX's southern operating area, a new regional headquarters was established in Richlands, Virginia. Serving as the epicenter of CNX mine methane capture operations, the expanded presence enhances CNX's unique opportunities to help meet rapidly expanding energy demand, advance energy security, and create significant new investment and jobs in local communities.
  
  
• Words in Action: Since 2022, CNX's Board has approved an aggregate amount of $5.5 million reduction in CEO pay, including a $1.5 million reduction approved in 2025 to support the expansion of the efforts of the CNX Foundation and its flagship initiative, the CNX Mentorship Academy.

• Mentorship Academy: Student participation in the CNX Mentorship Academy—now entering its fifth year—increased 44 percent, with 122 students enrolled. The Mentorship Academy includes underserved students representing 28 schools/school districts. More than half of 2024 Mentorship Academy graduates secured full-time employment in a target industry, or a coveted paid internship exclusive to Mentorship Academy graduates in healthcare, building trades, corporate support, or the Short Service Employee Internship in Energy.
  
  
• CNX Foundation: In 2024, CNX Foundation contributed $3.7 million through 144 initiatives aligned with its Tangible, Impactful, Local focus on community support. These efforts are part of CNX's pledge to invest in local initiatives supporting underserved communities within its operational footprint. CNX Foundation principles are also embodied by employees, who volunteered over 3,500 hours in 2024.
  
  
• The Headquarters at CNX: In 2024, three new tenants joined the Headquarters at CNX, bringing capacity to 92 percent and providing workspace to 29 total tenants. The Headquarters at CNX provides world-class workspace at its corporate office to small businesses, including minority- and women-owned businesses, educational institutions, and non-profit organizations, emphasizing support for the same Tangible, Impactful, Local causes in which the CNX Foundation invests.

"CNX is defined by a commitment to transparency and a Tangible, Impactful, Local approach to our sustainable business model," CNX Senior Vice President of Compliance and Reporting Hayley Scott said. "By now providing real-time updates to our comprehensive website and quarterly ESG Performance Scorecard, we are delivering insights to our communities, employees, owners, and all stakeholders about the way that we responsibly operate our business and invest in our communities on a day-to-day basis."

CNX's ESG Performance Scorecard has limited assurance procedures performed by Keramida, Inc., a WBE-certified global sustainability and EHS services firm, for 2024 and 2023 Scope 1 and 2 GHG emissions, air emissions, water, and waste data, while CNX's Internal Audit team has reviewed additional ESG performance metrics, ensuring data integrity.

The next quarterly ESG Performance Scorecard update is anticipated for release in August, which will follow the company's release of its financial and operational results for the second quarter of 2025.

CNX remains committed to leading the industry with Tangible, Impactful, and Locally focused initiatives, and this new reporting cadence reinforces that commitment through unmatched transparency and accountability.

About CNX Resources Corporation

CNX Resources Corporation (NYSE: CNX) is unique. We are a premier, ultra-low carbon intensive natural gas development, production, midstream, and technology company centered in Appalachia, one of the most energy abundant regions in the world. With the benefit of a 161-year regional legacy, substantial asset base, leading core operational competencies, technology development and innovation, and astute capital allocation methodologies, we responsibly develop our resources and deploy free cash flow to create long-term per share value for our shareholders, employees, and the communities where we operate. As of December 31, 2024, CNX had 8.54 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information is available at www.cnx.com.

 

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SOURCE CNX Resources Corporation

FAQ

What changes did CNX make to its ESG reporting in 2024?

CNX shifted from annual to continuous ESG reporting with quarterly ESG Performance Scorecard updates, providing real-time environmental data on their website for enhanced transparency.

How much did CNX reduce its methane emissions in 2024?

CNX reduced methane intensity by nearly 30% in its production segment compared to 2023.

What major community investments did CNX make in 2024?

CNX completed the $20 million Kiski Water Line project, contributed $3.7 million through 144 community initiatives, and expanded its Mentorship Academy with 44% increased student participation.

How much waste methane did CNX capture in 2024?

CNX captured approximately 9.1 million metric tons of waste methane CO₂e in 2024.

What is CNX's Radical Transparency program?

The Radical Transparency program provides continuous monitoring of site-level emissions, with real-time air, water, and chemical data posted on CNX's website and reported to environmental authorities.