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UGI Corporation Publishes Fiscal 2023 ESG Report

By: UGI Corporation via Business Wire

July 12, 2024 at 16:15 PM EDT

Achieves a 50% reduction in Scope I (direct) emissions¹
Meets commitment to increase spend with diverse Tier I and Tier II suppliers by 25%
Improves rankings with CDP and Morningstar Sustainalytics

UGI Corporation (NYSE: UGI) (the “Company”) today released its 2023 environmental, social and governance (ESG) report titled, The Journey: Managing Climate Risks and Opportunities, which outlines the Company’s progress on all aspects of its ESG journey. UGI is pleased to report that it has achieved a 50% reduction in Scope I (direct) emissions¹ and is on track to meet its commitment of a 55% reduction by the end of fiscal 2025. Additionally, UGI has met its commitment to improve spend with diverse Tier I and Tier II suppliers by 25% by fiscal 2025 – a full two years ahead of schedule.

These important achievements and many others are included in UGI’s sixth ESG report, which highlights the alignment of the Company’s business activities to several United Nations Sustainable Development Goals.

UGI’s ESG commitments and actions have been recognized by our stakeholders, as shown by these recent accomplishments with ESG rating agencies:

Maintained our AAA rating with MSCI;
Improved our Carbon Disclosure Project (CDP) score with a “B” ranking; and
Upgraded to the Medium-Risk category with Morningstar Sustainalytics.

Mario Longhi, Interim President and Chief Executive Officer of UGI Corporation said, “We have a history of aligning our ESG commitments with our long-term strategy, value creation, and continuous improvement. UGI is committed to evaluating risks and opportunities to uncover innovative and better ways to serve our customers, investors and employees.”

Longhi continued, “As we navigate climate assessments, scenario analyses, and feedback from our stakeholders, we are confident that we will continue to develop new ways to minimize risk while maximizing the opportunities associated with climate change.”

About UGI Corporation

UGI Corporation (NYSE: UGI) is a distributor and marketer of energy products and services in the US and Europe. UGI offers safe, reliable, affordable, and sustainable energy solutions to customers through its subsidiaries, which provide natural gas transmission and distribution, electric generation and distribution, midstream services, propane distribution, renewable natural gas generation, distribution and marketing, and energy marketing services.

Comprehensive information about UGI Corporation, including its ESG report, is available on the Internet at https://www.ugicorp.com. The ESG report is also available on UGI’s ESG website at https://ugiesg.com/.

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¹ The Scope 1 emissions reduction target did not include emissions from the Mountaineer acquisition, which closed in September 2021. The target also excluded the Moraine East acquisition and only accounted for our ownership interest in the Pennant system at the time we set the target. UGI now owns 100% of Pennant. Emissions from our ownership interest in the Pine Run acquisition, announced in February 2021, were included in the baseline 2020 number. The 2020 baseline number also takes a 5-year emissions average from the Hunlock power generation facility to account for year-over-year differences in run time.