CONSOL Energy Publishes 2013 Corporate Responsibility Report
CONSOL Energy Inc. (NYSE: CNX) released its 2013 Corporate Responsibility Report, which details execution against Key Performance Indicators (KPIs), and outlines activities and new initiatives undertaken during the past year.
"Our third annual report continues to build on goals and objectives aimed at our commitment to responsible business practices across all operational and support functions within the Company. Our commitment to these concepts is reinforced by the belief that such practices are not only the right thing to do, but that they also provide CONSOL Energy and our customers with competitive advantages in today's global marketplace," commented J. Brett Harvey, Chairman and CEO of CONSOL Energy. "One of the cornerstones of our legacy has been the ability to adapt, innovate and re-invent over many decades. The capacity to navigate through constantly changing external conditions has led CONSOL Energy to 150 years of successful operation. The growth strategy we are deploying is driven by those very concepts that have sustained our Company through the years."
In 2013, CONSOL Energy undertook a transformative step toward the future, focusing its growth strategy as an E&P company with a best-in-class legacy coal position, aligning the Company to produce the energy needed to meet growing demand at home and abroad for decades to come. The 2013 Corporate Responsibility report details those changes, and its impact on KPI reporting.
Following are key highlights included in the 2013 report:
Safety: CONSOL Energy's E&P Division experienced another year 'At ZERO' with no reportable employee accidents, surpassing seven million exposure hours without a lost-time accident. The Company also invested more than $162 million in safety-related capital projects, and partnered with Aubrey Daniels International, a leadership and safety advisory company based in Atlanta, Georgia, to conduct an evaluation and undertake coaching and training programs to continue improvements in the safety culture using a system known as Behavior Based Safety (BBS). In 2013, 660 employees in the Coal Division received this training. In 2014, E&P Division employees and management will receive BBS training.
Environmental: The Coal Division saw its best year of environmental compliance performance to date, improving over twenty percent each year since 2011. This is attributed to the increased focus on environmental awareness, enhanced training procedures and the addition of an environmental compliance performance metric in short-term incentive compensation. In 2013, the Company also focused on improving contractor performance and will undertake a ranking based on the Core Values of Safety and Compliance performance, in efforts to continuously improve overall performance.
Land reclamation efforts also resulted in the planting of over 577,600 trees, obtaining over $2 million in financial bond release.
Community: In 2013, CONSOL Energy invested nearly $6 million in the communities in its operating regions. The Company continued to build on legacy partnerships with organizations such as the Boy Scouts of America and local school districts, and also participated in new programs to support local food banks and emergency responders.
To view CONSOL Energy's 2013 Corporate Responsibility Report visit, http://bit.ly/1liEUHd
Various statements in this release, including those that express a belief, expectation or intention, may be considered forward-looking statements (as defined in Section 21E of the Exchange Act) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income and capital spending. When we use the words "believe," "intend," "expect," "may," "should," "anticipate," "could," "estimate," "plan," "predict," "project," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release, if any, speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks, contingencies and uncertainties relate to, among other matters, the factors discussed in the 2013 Form 10-K under "Risk Factors," as updated by any subsequent Form 10-Qs, which are on file at the Securities and Exchange Commission.
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