Corporate Responsibility at EQT
With a rich history in the Appalachian Basin, EQT Corporation has built a solid foundation within the energy industry — and we have a bright future ahead of us. EQT strives to operate with our values at the forefront of all we do, and we are dedicated to producing natural gas in a safe, environmentally responsible manner, operating ethically, supporting our workers and deepening our relationships with the communities in which we live and work. By focusing on trust, teamwork, heart and evolution, we empower our employees to live our values each day.
Informing this Report
EQT conducted a materiality assessment in early 2017 to strategically guide our sustainability reporting. This assessment used the GRI steps of Identification, Prioritization and Validation to rank the environmental, social and governance topics most critical to the company and our external stakeholders. To first identify a universe of relevant topics, we benchmarked peer reports, regulatory and industry trends, reporting frameworks and other stakeholder-related sources. We prioritized these topics by conducting interviews with leaders of EQT’s business units and functional groups, as well as analyzing internal financial documents and peer, investor, community, regulatory, industry association and media documents for evidence to support the relative importance of each topic. A customized weighting process demonstrated the importance of each source. Our Corporate Communications team validated the customized weighting and topics most critical for EQT to manage and report. This process further defined the boundary of each topic. To learn more about our materiality assessment process, see our 2017 Corporate Social Responsibility Report.
While we will continue to monitor and manage all topics raised through the assessment, this report focuses on the 11 highest ranking or “material” topics shown below plus the topics of Climate Strategy and Technological Innovation, which we believe are also important to our stakeholders. Throughout this report, EQT uses the GRI definition of “material” to reference topics that reflect the company’s significant economic, environmental and social impacts or that substantively influence the assessments and decisions of stakeholders. EQT did not use the U.S. Securities and Exchange Commission’s concept of materiality within the context of this report.
We completed the separation of our upstream and midstream businesses on November 12, 2018, with the spinoff of the standalone company, Equitrans Midstream Corporation (NYSE: ETRN). Following the spin-off, EQT became a premier pure play production company with a renewed focus on its upstream operations. EQT plans to refresh our materiality assessment in the near future to reflect the company’s sole focus on upstream operations for the report that will disclose activities from January 1, 2019 to December 31, 2019.
Key Topics and Boundary
The table below lists the topics that ranked highest through our 2017 materiality assessment. Each topic provides EQT’s description and interested or affected stakeholder groups. We anticipate refreshing our materiality assessment in the near future to glean new priorities and expectations from our stakeholders.
|REport section||topic||definition||stakeholder groups|
|Environment and Climate||Climate and GHG Emissions||Carefully managing greenhouse gas (GHG) emissions, including methane, from operations; promoting energy conservation; and addressing current and potential regulations related to GHG emissions and the potential impacts of the changing climate on EQT’s operations.||
|Water||Minimizing water use, increasing use of recycled water and protecting local water sources.||
|Effluents and Waste||Minimizing waste, including fracturing fluid, cuttings and drilling waste, spills and leakages through recycling programs and safe chemical removal; treating wastewater to preserve water quality; preventing spills and managing them when they occur.||
|Biodiversity and Ecosystem Health||Using land management systems to limit land contamination and to protect soil quality, biodiversity, animal welfare and habitats, including during reclamation and decommissioning.||
|Air Quality||Minimizing air emissions (volatile organic compounds, nitrogen oxides, etc.) across EQT’s value chain.||
|In the Workplace||Occupational Health and Safety||Ensuring safe working conditions, supplying personal protective equipment and providing resources to maintain and improve employees’ and contractors’ physical and emotional health.||
|Talent Attraction and Retention||Attracting high-caliber workers, including local talent; providing professional development opportunities; promoting diversity and inclusion; and developing strategies for retaining and engaging employees.||
|Technological Innovation||Incorporating innovation into EQT’s business strategy to increase operational efficiencies and reduce costs in a safer and more environmentally conscious manner.||
|In the Community||Local Communities||Managing impacts on and relations with the communities in which EQT operates. This includes the impacts of the transportation of materials, impacts on roads, noise pollution and specific community complaints or concerns. This topic also addresses our financial, educational and other support of communities.||
|Public Safety and Emergency Preparedness||Ensuring the health and safety of the communities in which EQT operates through careful well construction, production activity and lifecycle impact assessments; anticipating and having programs in place for crisis or emergency situations.||
|Indirect Economic Impacts||Contributing to sustainable growth of the U.S. economy and the communities where EQT operates and sells its products through job creation, tax revenue generation and access to affordable and reliable domestic energy.||
|Political Involvement and Public Policy||Engaging in political activity, providing corporate contributions to political candidates and organizations, and contributing to public policy.||
Changes in Reporting
Although EQT completed the separation of our midstream operations in 2018, our “material” topics did not change for the 2018 reporting year. Unless otherwise specified, the 2018 data throughout this report refers only to our upstream assets and operations.
For a convenient reference to all disclosures covered in this report, please see our content indices: