CANONSBURG, Pa., March 16, 2023 /PRNewswire/ -- CONSOL Energy Inc. ("CONSOL," NYSE: CEIX) is proud to announce the release of its 2022 Corporate Sustainability Report, "Forward Progress: From Our Mines to the World." The report is CONSOL's sixth since becoming an independent, publicly listed company in 2017 and is available for download at www.consolenergy.com/sustainability.
The report provides an update on the Company's efforts to advance its Forward Progress sustainability initiative during the fiscal year ended December 31, 2022, including:
- Coal Operations employees achieving a total recordable incident rate of 2.28, or 51% below Mine Safety and Health Administration industry averages for the underground bituminous coal mining industry,
- Maintaining an environmental compliance record exceeding 99.9% for the tenth consecutive year on our assets, as measured by the rate of compliance with permit effluent limits,
- Advancing revenue diversification goals with the overall share of revenue from domestic power generation declining to 39.9% from 55.3% in 2020, and
- Completing the acquisition of the remaining equity interests in CFOAM Corp. and the formation of CONSOL Innovations LLC as a platform for advancing CONSOL's technology development efforts.
Additionally, the report highlights the Company's continued sustainability endeavors, including the Company's voluntary direct operating greenhouse gas ("GHG") emission reduction program, as well as its strategic partnerships that seek to advance the technologies needed to support the achievement of ambitious climate goals, such as carbon capture utilization and storage ("CCUS").
The Company firmly believes its responsibly produced coal is and will continue to be needed in the mix of energy sources to achieve the transition toward climate change goals. Our world-class asset base will continue to be relied upon to support infrastructure build-out in the industrial and metallurgical sectors, and to provide the secure, stable and reliable energy that improves global quality of life and ultimately drives Forward Progress.
About CONSOL Energy Inc.
CONSOL Energy Inc. (NYSE: CEIX) is a Canonsburg, Pennsylvania-based producer and exporter of high-Btu bituminous thermal coal and metallurgical coal. It owns and operates some of the most productive longwall mining operations in the Northern Appalachian Basin. CONSOL's flagship operation is the Pennsylvania Mining Complex, which has the capacity to produce approximately 28.5 million tons of coal per year and is comprised of 3 large-scale underground mines: Bailey Mine, Enlow Fork Mine, and Harvey Mine. CONSOL also developed the Itmann Mine in the Central Appalachian Basin, which has the capacity to produce roughly 900 thousand tons per annum of premium, low-vol metallurgical coking coal. The company also owns and operates the CONSOL Marine Terminal, which is located in the port of Baltimore and has a throughput capacity of approximately 15 million tons per year. In addition to the ~622 million reserve tons associated with the Pennsylvania Mining Complex and the ~28 million reserve tons associated with the Itmann Mining Complex, the company also controls approximately 1.4 billion tons of greenfield thermal and metallurgical coal reserves and resources located in the major coal-producing basins of the eastern United States. Additional information regarding CONSOL Energy may be found at www.consolenergy.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the federal securities laws. With the exception of historical matters, the matters discussed in this press release are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) that involve risks and uncertainties that could cause actual results to differ materially from results projected in or implied by such forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific short term and long term emission reduction targets, the role of specific technologies in reducing carbon emissions, and CEIX's role in contributing to global social and environmental goals. When we use the words "anticipate," "believe," "could," "continue," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Specific risks, contingencies and uncertainties are discussed in more detail in our filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this press release and CEIX disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law. In this release, we refer to direct operating greenhouse gas emissions (inclusive of scope 1 and scope 2 emissions). We note that the direct operating greenhouse gas emissions does not refer to our carbon emissions associated with the use of energy products we sell (referred to as scope 3 emissions). CEIX only controls its direct operating emissions. This statement is not intended to suggest that CEIX is addressing the emissions from use of its energy products in its net zero plan.
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SOURCE CONSOL Energy Inc.