DCP Midstream Releases Second Annual Sustainability Report, Announces Environmental and Diversity Goals, and Commits to Industry-First ESG-Linked Accounts Receivable Securitization Facility
“At DCP, 2020 was not defined by the challenges we faced, but by the achievements we celebrated, including meaningful reductions in our greenhouse gas emissions, continued safety outperformance, increased board diversity, and the establishment of our
Highlights of DCP’s Sustainability Report include:
- 46% decrease in recordable injuries since 2016; outperforming the midstream peer average with a TRIR of 0.44 in 2020
- 16% reduction in Scope 1 and Scope 2 greenhouse gas emissions and a 23% reduction in methane emissions since 2018
- 68% reduction in volume of hydrocarbon spills greater than one barrel since 2018
- Received two 2020
GPA Midstream Association Awards- Environmental Excellence
- Energy Conservation
- Established a company-wide Inclusion & Diversity (I&D) committee and increased diversity on the Board of Directors
Employee Engagement Survey score of 76%, representing a three-point increase since 2018, with an 81% participation rate- Designated as a
World Economic Forum Global Lighthouse ; the firstU.S. oil and gas company with this distinction - Donated
$1 million to local community partners, including$325,000 donated to local food banks during COVID-19 crisis - Joined the
American Petroleum Institute (API) Environmental Partnership , a network of companies in theU.S. oil and natural gas industry committed to continuously improve the industry’s environmental performance - Launched the largest industry-led methane survey in the US, which is enabling significant reductions in fugitive emissions through early detection and mitigation
- Focused on compressor and plant reliability, which yielded a 24% reduction in downtime events and a 13% reduction in downtime hours, representing the lowest rate of major equipment failures since the metric was tracked beginning in 2014
- Enacted unit ownership guidelines for officers and directors, enhancing alignment with unitholder interests
Additionally,
- Emission Reduction Goals
- By 2030, reduce total greenhouse gas emissions by 30% from a 2018 baseline
- By 2050, achieve net zero greenhouse gas emissions
- Inclusion & Diversity Goals
- By 2028, ensure our workforce and leadership fully represents the gender and racial demographics of the communities in which we operate
- By 2031, ensure that our internal leadership succession pipeline reflects the gender and racial demographics of the communities in which we operate
- On an annual basis, ensure representation of our veteran communities aligns with national demographics
- Over the next five years, maintain Employee Satisfaction and Belonging scores above industry benchmark
DCP is also announcing an amendment to its
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Source: DCP Midstream LP