Report details increased performance supporting Spire's commitment to being a carbon neutral company by midcentury.
ST. LOUIS, June 15, 2022 /PRNewswire/ -- Today, Spire published its Sustainability Report covering the company's fiscal year 2021 activities that move the company toward becoming carbon neutral by midcentury and show continued progress across four key priorities: the environment, safety, people and governance.
The report expands upon Spire's three previous Corporate Social Responsibility (CSR) reports and highlights the company's continued Environmental, Social and Governance (ESG) efforts. The new format reflects Spire's role in helping to establish and uphold a sustainable energy future for customers and the communities served. In addition, the expanded report features more robust reporting, including, for the first time, disclosures aligned with ONE Future, the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-Related Financial Disclosures (TCFD). With the FY21 report, Spire has achieved 98% compliance with the Global Reporting Index (GRI).
"As the energy landscape shifts and evolves for a more sustainable future, we continue to stay focused on keeping our promise to champion people while caring for the planet we share," said Suzanne Sitherwood, Spire president and CEO. "I'm proud of how we met the challenges of FY21 with drive and grit, all while delivering the affordable, reliable and clean energy that our customers and communities depend on."
Spire's sustainability efforts have earned national recognition three 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.
Highlights of the report include:
Environment. In support of Spire's commitment to become a carbon neutral company by midcentury, Spire achieved a reduction in methane emissions from its core gas utility distribution system by a cumulative 46% since 2005, and is on target to reduce these emissions by 59% by 2025 and 73% by 2035.
In FY21, Spire established a dedicated team to lead environmental commitment efforts and made significant progress in measuring baseline statistics, creating a baseline for Scope 1 (greenhouse gas emissions released directly from owned or controlled assets) and Scope 2 (indirect emissions from purchased electricity and steam) GHG emissions. In addition, Spire:
- Supported environmental efforts in their communities through financial contributions and employee volunteerism
- Increased active participation with ONE Future Coalition by submitting its first reporting data, which demonstrates how the company is working to reduce methane emissions across the natural gas value chain
- Became a founding member of Energy Capital Ventures' new fund focused on natural gas innovation and research in clean energy solutions
Safety. Safety is a core value at Spire, with the safety and security of employees one of the company's greatest responsibilities. In FY21, Spire:
- Deployed new technology to promote safe driving of company vehicles
- Promoted programs and initiatives to encourage employees to proactively identify and correct potential hazards in the workplace before they present risk
- Continued to implement coronavirus safety protocols to keep employees and customers safe
People. With 3,700 employees dedicating their time, talent and passion to serving customers every day, Spire strives to foster a safe and inclusive culture where everyone feels they belong. Building, engaging and developing a diverse workforce is a critical piece of Spire's future success.
And as champions of people, Spire connects with customers to discover new and emerging challenges they face and develop strategies to enhance customer benefits and services in the future.
In addition, Spire continued 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 FY21, Spire:
- Measured workforce demographics to establish a baseline and identify areas of focus and opportunity. This helped develop new and innovative ways of building diverse talent while creating opportunities for employees to grow and advance
- Expanded partnerships with trade schools, universities, community and professional-based organizations to build a pipeline of diverse job candidates
- For Spire Missouri customers, conducted a second series of Fresh Perspectives Listening Labs to listen, learn and gain a deeper understanding of customers' needs and perspectives
- Continued customer outreach efforts to connect customers with needed support and resources, such as enhanced online tools and access to energy assistance
- Offered energy-efficiency programs, including weatherization, rebates and financing, to help customers save energy and money
- Supported the communities they serve with more than $6.5 million, a 22% increase over the FY20 spend. Spire also matched 368 employee gifts, totaling $121,769 in donations to support organizations employees care about most. Since 2017, Spire has contributed nearly $500,000 in matching gifts to nonprofits
Governance. Spire's focus on operating with integrity and environmental sustainability to create value for employees, customers, communities and shareholders continues to be key. In FY21, Spire:
- Formally assigned oversight of sustainability to specific committees of Spire's Board of Directors to monitor strategy and plans, and ensure that progress is made on ESG commitments
- Maintained a well-qualified, independent Board of Directors that is 50% female
- Regularly reviewed governance practices and continued to update policies in accordance with stakeholder expectations
- Further developed their commitment to supplier diversity
Spire's complete Sustainability report can be accessed at spireenergy.com/sustainability.
Conference Call and Webcast
Spire will host a conference call and webcast to discuss its ESG commitments, initiatives and performance in support of a more sustainable energy future. To access the call, please dial the applicable number approximately 5-10 minutes in advance.
Date and Time:
Tuesday, June 21
9 a.m. CT (10 a.m. ET)
U.S. and Canada:
The webcast can be accessed at Investors.SpireEnergy.com under Events & presentations. A replay of the call will be available at 11 a.m. CT (12 p.m. ET) on June 21 until July 21, 2022, by dialing 877-344-7529 (U.S.), 855-669-9658 (Canada), or 412-317-0088 (international). The replay access code is 9958108.
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 the fifth largest publicly traded natural gas company 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.
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SOURCE Spire Inc.