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 climate change and associated ESG keywords, GlobalData delivers valuable information on New Jersey Resources‘ 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, a leading energy company, has set a target for net zero by 2050. The company aims to achieve a 60% reduction in operational emissions from 2006 levels by the year 2030. The emission data for the company in 2022 was as follows: Scope 1 recorded 51,244 metric tons of CO2e, Scope 2 registered 300 metric tons of CO2e, and RNG Attributes (biogenic carbon offsets) amounted to 1,993 metric tons of CO2e. This resulted in a net total emissions of 49,551 metric tons of CO2e. In 2022, the company achieved a 68% reduction in emissions from its distribution system, amounting to over 62,000 metric tons of CO2e.
New Jersey Resources has implemented various measures to reduce its greenhouse gas (GHG) emissions. For example, at its Leaf River facility, the company has installed oxidation catalysts on all units, resulting in emissions reductions of over 90% on already efficient engines. Additionally, the company's Storage and Transportation business plays a role in emissions reduction by providing natural gas as a cleaner alternative to replace coal and other less clean forms of energy.
The company is continuously assessing its current emissions and developing strategies to further reduce and mitigate them in the future. Specific steps taken by the company include replacing continuous bleed pneumatic devices with zero or near-zero bleed alternatives at its Adelphia facility. These operational practices contribute to the overall emission reduction efforts of the company. New Jersey Resources has made investments in renewable energy projects, such as solar energy systems, to further reduce its carbon footprint.
In conclusion, New Jersey Resources is committed to achieving net-zero emissions and has taken significant steps to reduce its carbon footprint. The company's efforts include implementing emission reduction measures, investing in renewable energy projects, and continuously assessing and developing strategies to further mitigate emissions. The company's actions demonstrate its commitment to sustainability and addressing climate change.