New Jersey Resources
NEW JERSEY RESOURCES RELEASES 2013 CORPORATE SUSTAINABILITY REPORT06/03/2013 - For Immediate Release
Wall, NJ – New Jersey Resources (NYSE: NJR) announced the release of its 2013 Corporate Sustainability Report (CSR), which highlights the company’s long-term initiatives and continued innovation that drives its commitment to environmental stewardship.
“We believe that growing a sustainable business while investing in clean energy is the right thing to do for our company and the communities we proudly serve,” said Laurence M. Downes, chairman and CEO of New Jersey Resources.
As part of its sustainability efforts, in 2006, NJR created Conserve to Preserve® (CTP), the umbrella for its commitment to environmental stewardship, as a means to provide customers with the tools and resources they need to use energy more responsibly and protect the environment. Since its inception, CTP has helped NJR customers collectively reduce their carbon footprint by more than 3.1 billion pounds of carbon dioxide (CO2), a potent greenhouse gas. It represents a continued investment in NJR’s future that enhances stakeholder value while ensuring a more sustainable business from an economical, environmental and social perspective.
“With this report, we are pleased to share the efforts and accomplishments of our more than 900 women and men who give their best every day to responsibly and reliably meet our customers’ energy needs, create a sustainable future and protect our environment for generations to come,” Downes stated. Highlights of key sustainability efforts and accomplishments achieved by NJR and its subsidiaries, many which are detailed further in the 2013 Sustainability Report, include:
- Energy savings for customers. The SAVEGREEN Project®, the energy-efficiency program of principal subsidiary New Jersey Natural Gas (NJNG), provides customers with rebates and incentives to make energy-efficiency upgrades more affordable. Since its inception in 2009, SAVEGREEN has helped customers reduce carbon emissions by over 36.5 million pounds, or the equivalent of greenhouse gas emissions (GHG) from 3,752 vehicles.* In addition to rebates and incentives, during the 2012-2013 heating season, NJNG’s energy-assistance team helped more than 27,000 customers stay warm by meeting their energy needs with over $5.9 million in energy assistance.
- Green initiatives for transportation. NJNG has entered into agreements with three host facilities, spending between $6 and $8 million to build the first public compressed natural gas (CNG) fueling stations in Monmouth and Ocean counties. These efforts help stimulate the market for natural gas vehicles beyond commercial fleets in New Jersey while supporting the state’s Energy Master Plan. Moreover, CNG can reduce fuel costs by as much as 40 percent over petroleum and emits significantly reduced amounts of GHG emissions that can be harmful to the environment.
- Safety excellence. In the aftermath of Superstorm Sandy, more than 400 NJNG field personnel physically walked and inspected approximately 300 miles of pipeline – section by section – for breaks, leaks and water intrusion. To ensure the safety of our customers and the integrity of our delivery system, each section was leak-surveyed a minimum of six times over a 30-day period.
- Community involvement. Over the past 12 months, NJR provided financial and in-kind support, including more than 5,439 employee volunteer hours, to over 1,300 community organizations. And, since 1997, through the company’s home ownership program, NJR has supported the construction of more than 80 affordable homes throughout Monmouth, Morris and Ocean counties.
- Clean energy investments. NJR Clean Energy Ventures, NJR’s renewable energy subsidiary, has installed more than 205,000 solar panels on customers’ homes and businesses since 2010, generating over 69,000 megawatt hours of clean energy, and helping residential and commercial customers reduce GHG emissions by 48,683 metric tons.
To view New Jersey Resources’ 2013 Corporate Sustainability Report, visit www.njresources.com.
* Energy Information Administration’s (EIA) Voluntary Reporting of Greenhouse Gases Program Fuel Carbon Dioxide Emission Coefficients www.eia.gov/oiaf/1605/coefficients.html
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that provides safe and reliable natural gas and renewable energy services, including transportation, distribution and asset management. With annual revenues in excess of $2 billion, NJR is comprised of five key businesses:
- New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains 7,000 miles of natural gas transportation and distribution infrastructure to serve approximately half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris and Middlesex counties.
- NJR Clean Energy Ventures is a clean energy company that invests in, owns and operates solar and onshore wind projects with a total capacity in excess of 47 megawatts, providing residential and commercial customers with low carbon solutions.
- NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides customized energy solutions to its customers across North America.
- NJR Home Services is a provider of heating, central air conditioning, standby generators, solar and other indoor and outdoor comfort products to nearly 130,000 residential homes and businesses throughout New Jersey.
- NJR Energy Holdings invests and maintains an equity ownership in a natural gas storage facility and a transportation pipeline, and serves companies from local distributors and producers to electric generators and wholesale marketers.
NJR and its more than 900 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
For more information about NJR:
Follow us on Twitter @NJNaturalGas.
“Like” us at facebook.com/NewJerseyNaturalGas.
Download our free NJR investor relations app for iPad and iPhone.
Michael Kinney, Media
Dennis Puma, Investors