EnLink Midstream Issues Fifth Annual Sustainability Report

Rhea-AI Summary

EnLink Midstream, LLC has issued its 2022 Sustainability Report, highlighting achievements in emissions reduction and carbon transportation business. The report showcases progress on emissions intensity reduction goals and the company's efforts to reduce emissions across industries through carbon dioxide transportation. EnLink aims to create value for employees, customers, communities, and investors through sustainability.

Positive

• EnLink achieved reductions of 2,866 metric tonnes (MT) of methane emissions in 2022, putting them 63% of the way towards their goal of a 30% reduction in methane emissions intensity by 2024. They also set a company record of a full year without a single lost-time injury. EnLink expanded data reporting to include five years of performance data and tied 80% of executive compensation to performance-driven incentives.

Negative

• None.

Digital report includes progress on emissions intensity reduction and overview of carbon transportation business

DALLAS, Aug. 1, 2023 /PRNewswire/ -- EnLink Midstream, LLC (NYSE: ENLC) (EnLink) today issued its 2022 Sustainability Report at http://sustainability.enlink.com. The digital report showcases EnLink's sustainability achievements during 2022, including progress on the company's emissions intensity reduction goals and its carbon dioxide (CO₂) transportation business that will help reduce emissions across other industries.

"EnLink's 2022 Sustainability Report demonstrates how a focus on sustainability at all levels of the company can create value for our employees, customers, communities, and investors," EnLink Chief Executive Officer Jesse Arenivas said. "While last year was impressive, we are looking forward to the 'future of midstream' that EnLink is building, coupling traditional midstream (oil and gas delivery) with new midstream (carbon transportation solutions). We're providing energy products critical to powering our modern society and promoting America's energy independence, while also offering solutions to reduce greenhouse gas emissions across multiple industries that utilize these products."

Highlighted Sustainability Achievements
Achievements and progress updates in environmental, social, and governance areas covered in the 2022 Sustainability Report include:

• Energy Transformation Achievements: 
• Announced landmark agreement to provide carbon transportation for ExxonMobil in support of carbon capture and sequestration (CCS) activities that will reduce existing emissions in an industrial area of Louisiana
• Continued to pursue energy transformation opportunities that leverage EnLink's extensive pipeline network to build a scalable CCS business; repurposing redundant natural gas pipelines has a lower environmental impact than entirely new build systems while still meeting energy demand
• Environmental and Safety Achievements: 
• Achieved reductions of 2,866 metric tonnes (MT) of methane emissions or approximately 71,650 MT of carbon dioxide equivalent (CO₂e) emissions in 2022, putting us approximately 63% of the way to complete our goal of achieving a 30% reduction in scope 1 methane emissions intensity over 2020 levels by 2024
• Set a company record by achieving a full year without a single lost-time injury, resulting in EnLink receiving the 2022 Perfect Record Award for the first time from GPA Midstream Association. EnLink was the only Division I company to win the award in 2022
• Social Achievements: 
• Volunteered approximately 1,300 hours to community nonprofits and causes, including during "Month of Service" organized by EnLink's Diversity, Equity, and Inclusion Action Team
• Improved our Parental Leave Policy to grant employees who give birth up to 10 weeks of 100% paid childbirth recovery leave
• Reported that EnLink's four-person Executive Leadership Team currently includes two leaders with ethnic diversity and one woman
• Governance Achievements: 
• Expanded data reporting to include five years of data in EnLink's performance data chart and included a new index that aligns with the Task Force on Climate-Related Financial Disclosures
• Tied 80% of EnLink's executive compensation to performance-driven incentives and targeted compensation for each executive role at the market median (50th percentile)
• Included a "Safety and Sustainability Scorecard" weighted at 15% within EnLink's Short-Term Incentive Program

About EnLink Midstream
Headquartered in Dallas, EnLink Midstream (NYSE: ENLC) provides integrated midstream infrastructure services for natural gas, crude oil, condensate, and NGLs, as well as CO₂ transportation for carbon capture and sequestration (CCS). Our large-scale, cash-flow-generating asset platforms are in premier production basins and core demand centers, including the Permian Basin, Louisiana, Oklahoma, and North Texas. EnLink is focused on maintaining the financial flexibility and operational excellence that enables us to strategically grow and create sustainable value. Visit www.enlink.com to learn how EnLink connects energy to life.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Although these statements reflect the current views, assumptions and expectations of our management, the matters addressed herein involve certain assumptions, risks and uncertainties that could cause actual activities, performance, outcomes and results to differ materially from those indicated herein. Therefore, you should not rely on any of these forward-looking statements. All statements, other than statements of historical fact, included in this press release constitute forward-looking statements, including but not limited to statements identified by the words "forecast," "may," "believe," "will," "should," "plan," "predict," "anticipate," "intend," "estimate," "expect," "continue," and similar expressions. Applicable uncertainties, factors, and risks are described more fully in EnLink Midstream, LLC's filings with the Securities and Exchange Commission, including EnLink Midstream, LLC's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. EnLink assumes no obligation to update any forward-looking statements. 

Investor Relations: Brian Brungardt, Director of Investor Relations, 214-721-9353, brian.brungardt@enlink.com
Media Relations: Megan Wright, Director of Corporate Communications, 214-721-9694, megan.wright@enlink.com

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SOURCE EnLink Midstream, LLC

What are EnLink's sustainability achievements in 2022?

In 2022, EnLink achieved reductions of 2,866 metric tonnes (MT) of methane emissions and set a company record of a full year without a single lost-time injury. They also expanded data reporting and tied 80% of executive compensation to performance-driven incentives.

What are EnLink's emissions reduction goals?

EnLink aims to achieve a 30% reduction in methane emissions intensity over 2020 levels by 2024.

How did EnLink improve their Parental Leave Policy?

EnLink improved their Parental Leave Policy to grant employees who give birth up to 10 weeks of 100% paid childbirth recovery leave.

What is EnLink's approach to executive compensation?

EnLink ties 80% of executive compensation to performance-driven incentives and targets compensation for each executive role at the market median (50th percentile).