MERRILLVILLE, Ind., Nov. 22, 2021 /PRNewswire/ -- NiSource Inc. (NYSE: NI) was named to the Dow Jones Sustainability Index (DJSI) - North America for the eighth consecutive year, in recognition of the company's sustainable business practices. NiSource is one of only seven U.S. utility companies on the 2021 list. The index is made up of sustainability leaders identified through a rigorous assessment of their environmental, social and governance (ESG) performance.
"The inclusion of NiSource in the DJSI for an eighth consecutive year demonstrates our strong commitment to ESG principles," said NiSource President and CEO Joe Hamrock. "People must be at the center of a sustainable energy future, and we are living that commitment in our relationships with customers, stakeholders and employees. I'm proud that we have improved our ranking in all three areas – environmental, social and governance."
NiSource is well on its way toward achieving a 90% reduction in Scope 1 greenhouse gas emissions by 2030 compared with 2005 levels, thanks to modernization of natural gas infrastructure and a transition to more sustainable electric generation. The company plans to retire all coal-fired generation between 2026 and 2028, to be replaced by lower cost, reliable and more sustainable options.
"We congratulate NiSource for being included in the DJSI - North America," said Manjit Jus, global head of ESG research and data for S&P Global, which publishes the index. "A DJSI distinction is a reflection of being a sustainability leader in your industry. The record number of companies participating in the 2021 S&P Global Corporate Sustainability Assessment is testament to the growing movement for ESG disclosure and transparency."
Recent NiSource Sustainability Progress NiSource continues to execute on initiatives with significant environmental benefits:
As part of its customer-centric "Your Energy, Your Future" program, NiSource's NIPSCO subsidiary recently retired two units of its largest coal-fired generating station and intends to retire all remaining coal units by 2026-2028
NiSource will evaluate hydrogen and emerging storage technologies as pathways toward further de-carbonization
Pipeline modernization programs have reduced methane emissions from gas mains and service lines by nearly 40% since 2005
The company's social impact includes strong commitments to safety and customer satisfaction:
NiSource invested about $1.7 billion in gas and electric safety and modernization programs in 2020, replacing 274 miles of priority pipe, 1,380 electric poles and 37 miles of underground electric cable
Recently released Columbia Gas and NIPSCO apps make it convenient for customers to pay bills and manage their service
The NiSource Charitable Foundation has made significant contributions to COVID-19 relief efforts
Governance is a key priority:
NiSource's independent board of directors has been refreshed in recent years, and includes a balance of tenures with nine of its 12 members having served six years or less
The recent Anti-Bribery and Corruption Policy is one element in a strong culture of ethics and compliance
About NiSource NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability Index - North America. Additional information about NiSource, its investments in modern infrastructure and systems, its commitments and its local brands can be found at www.nisource.com. Follow us at www.facebook.com/nisource, www.linkedin.com/company/nisource or www.twitter.com/nisourceinc. NI-F
Forward-Looking Statements This press release contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one of those factors could cause actual results to differ materially from those projected. These forward-looking statements include, but are not limited to, statements concerning our plans, strategies, objectives, expected performance, expenditures, recovery of expenditures through rates, stated on either a consolidated or segment basis, and any and all underlying assumptions and other statements that are other than statements of historical fact. Expressions of future goals and expectations and similar expressions, including "may," "will," "should," "could," "would," "aims," "seeks," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "targets," "forecast," and "continue," reflecting something other than historical fact are intended to identify forward-looking statements. All forward-looking statements are based on assumptions that management believes to be reasonable; however, there can be no assurance that actual results will not differ materially.
Factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this press release include, among other things, our ability to execute our business plan or growth strategy, including utility infrastructure investments; potential incidents and other operating risks associated with our business; our ability to adapt to, and manage costs related to, advances in technology; impacts related to our aging infrastructure; our ability to obtain sufficient insurance coverage and whether such coverage will protect us against significant losses; the success of our electric generation strategy; construction risks and natural gas costs and supply risks; fluctuations in demand from residential and commercial customers; fluctuations in the price of energy commodities and related transportation costs or an inability to obtain an adequate, reliable and cost-effective fuel supply to meet customer demands; the attraction and retention of a qualified workforce and ability to maintain good labor relations; our ability to manage new initiatives and organizational changes; the performance of third-party suppliers and service providers; potential cyber-attacks; any damage to our reputation; any remaining liabilities or impact related to the sale of the Massachusetts Business; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the impacts of climate change and extreme weather conditions; our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; any adverse effects related to our equity units; adverse economic and capital market conditions or increases in interest rates; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; continuing and potential future impacts from the COVID-19 pandemic; economic conditions in certain industries; the reliability of customers and suppliers to fulfill their payment and contractual obligations; the ability of our subsidiaries to generate cash; pension funding obligations; potential impairments of goodwill; changes in the method for determining LIBOR and the potential replacement of the LIBOR benchmark interest rate; the outcome of legal and regulatory proceedings, investigations, incidents, claims and litigation; potential remaining liabilities related to the Greater Lawrence Incident; compliance with the agreements entered into with the U.S. Attorney's Office to settle the U.S. Attorney's Office's investigation relating to the Greater Lawrence Incident; compliance with applicable laws, regulations and tariffs; compliance with environmental laws and the costs of associated liabilities; changes in taxation; and other matters set forth in Part I, Item 1, "Business," Item 1A, "Risk Factors" and Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations," of the company's annual report on Form 10-K for the year ended December 31, 2020; and Part II, Item 1A, "Risk Factors," of the company's quarterly report on Form 10-Q for the quarter ended March 31, 2021, many of which risks are beyond our control. In addition, the relative contributions to profitability by each business segment, and the assumptions underlying the forward-looking statements relating thereto, may change over time.
All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.