GlobalData offers a comprehensive analysis of New Jersey Resources, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on New Jersey Resources’s ESG performance. GlobalData’s company profile on New Jersey Resources offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
New Jersey Resources has set a net-zero target for the future, with plans to identify reduction and mitigation strategies for its businesses. For instance, the company had set a goal in fiscal 2021 to achieve net-zero carbon emissions from its New Jersey operations by 2050. As an interim goal in its journey towards the net-zero target, the company expects to reduce operational emissions by 60% from 2006 levels by 2030. The company is assessing current emissions and has not yet set specific targets for scope 1 and scope 2 emissions. The company operates six Caterpillar Lean Burn Engines equipped with oxidation catalysts, which reduce emissions by over 90% on an already efficiently tuned engine. The Storage and Transportation business also supports emissions reductions by providing natural gas to customers who are replacing less clean forms of energy, including coal.
New Jersey Resources has reported a trend of decreasing greenhouse gas emissions, with gross global Scope 1 emissions decreasing from 33,070 metric tons in FY2020 to 28,004 metric tons in FY2021, before increasing to 33,938 metric tons in FY2022. The percentage of methane emissions has fluctuated, with a decrease from 27.3% in FY2020 to 32.3% in FY2021, before decreasing again to 29.2% in FY2022. According to the ESG report 2022, New Jersey Resources reported emissions for Scope 1 & Scope 2 as 51,244 & 300 Mt Tons of CO2e respectively.
New Jersey Resources has taken steps to mitigate emissions, including replacing continuous bleed pneumatic devices with zero or near-zero bleed alternatives at Adelphia. The company plans to identify further reduction and mitigation strategies for the future. The company's Solar Technology and Project Developers business has completed solar energy systems with a total capacity of 3866 MW, and the End-Use Efficiency business has achieved gas savings from efficiency measures for residential and commercial customers. The company has not reported any reportable pipeline incidents in FY2021.
In conclusion, New Jersey Resources has reported a trend of decreasing greenhouse gas emissions and has taken steps to mitigate emissions, including replacing continuous bleed pneumatic devices with zero or near-zero bleed alternatives. The company's Solar Technology and Project Developers business has completed solar energy systems with a total capacity of 3866 MW, and the End-Use Efficiency business has achieved gas savings from efficiency measures for residential and commercial customers. The company has not reported any reportable pipeline incidents in FY2021.
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