NiSource Unveils Its Annual Sustainability Report, Showcasing Progress Towards Goals
NiSource (NYSE:NI), one of the largest fully regulated utility companies in the United States, has published its 2024 sustainability report, emphasizing the company's dedication to operational excellence, safety, customer satisfaction and environmental stewardship.
Titled Powering Vibrant and Viable Communities, the report details NiSource's advancements in sustainability, showcasing how the company has enhanced existing standards while leveraging technology to introduce new resiliency measures. This concerted focus on sustainability is integral to the company's overall business strategy.
"Sustainability is a core component of our strategy to mitigate business risks, uphold environmental accountability and position ourselves as innovators in an evolving energy sector," said Lloyd Yates, NiSource President and CEO. "It is a way for us to remain steadfast and accountable to our stakeholders, including our investors, our employees, the communities we serve and our customers."
NiSource's sustainable goals include prioritizing safety in all operations, fostering stable communities, employee engagement, being responsible environmental stewards, and delivering value to shareholders. Key achievements highlighted in the report are:
- Implementing an agrivoltaics land management strategy with sheep grazing 100 acres of vegetation, successfully combining solar energy with sustainable agriculture.
- Utilizing software to assess gas distribution lines, and other assets across water bodies, to proactively prepare for weather-related events that may impact service to our customers.
- Continuing progress toward a goal of achieving net zero greenhouse gas (GHG) emissions from our operations by 2040, having reduced these emissions by approximately 72% from 2005 levels.
- Donating nearly $8 million supporting more than 700 non-profit organizations and establishing dozens of community partnerships.
- Delivering a total shareholder return of approximately 40%, which demonstrates differentiated value from its peers.
- Retaining certification for the American Petroleum Institute Recommended Practice (API RP) 1173, one of only two utilities in the world with this conformance certification.
- Earning recognition on the Dow Jones Best-In-Class Indices, formerly the Dow Jones Sustainability Indices, marking the 11th consecutive year for the distinction.
"Each year, NiSource and our operating companies across six states discover new, tangible ways to strengthen our resolve to be excellent stewards of the environment while safely delivering the services our customers rely on to power homes, businesses and industries," said Melody Birmingham, Executive Vice President and Group President for Utilities at NiSource. "Our commitment to sustainability is an essential part of our operating success."
The report is available at NiSource.com.
About NiSource
NiSource Inc. (NYSE:NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.3 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. The mission of our approximately 7,700 employees is to deliver safe, reliable energy that drives value to our customers. NiSource is a member of the Dow Jones Sustainability - North America Index and is on Forbes lists of America's Best Employers for Women and Diversity. Learn more about NiSource's record of leadership in sustainability, investments in the communities it serves and how we live our vision to be an innovative and trusted energy partner at www.NiSource.com.
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. Forward-looking statements in this press release include, but are not limited to statements regarding our plans, strategies, objectives, expected performance, 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 presentation include, among other things: our ability to execute our business plan or growth strategy, including utility infrastructure investments, or business opportunities, such as data center development and related generation sources and transmission capabilities to meet potential load growth; our ability to manage data center growth in our service territories; potential incidents and other operating risks associated with our business; our ability to work successfully with our third-party investors; our ability to adapt to, and manage costs related to, advances in technology, including alternative energy sources and changes in laws and regulations; our increased dependency on 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 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 demand; our ability to attract, retain or re-skill a qualified, diverse workforce and maintain good labor relations; our ability to manage new initiatives and organizational changes; the performance and quality of third-party suppliers and service providers; our ability to manage the financial and operational risks related to achieving our carbon emission reduction goals, including our Net Zero Goal, including any future associated impact from business opportunities such as data center development as those opportunities evolve; potential cybersecurity attacks or security breaches; increased requirements and costs related to cybersecurity; the actions of activist stockholders; any damage to our reputation; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the physical impacts of climate change and the transition to a lower carbon future; our debt obligations; any changes to our credit rating of the credit rating of certain of our subsidiaries; adverse economic and capital market conditions, including increases in inflation or interest rates, recession, or changes in investor sentiment; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; 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; the outcome of legal and regulatory proceedings, investigations, incidents, claims and litigation; compliance with changes in, or new interpretations of applicable laws, regulations and tariffs, including impacts of state and federal orders on our ability to carry out our business plan and growth strategy the cost of compliance with environmental laws and regulations and the costs of associated liabilities; changes in tax laws or the interpretation thereof; and other matters set forth in 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 our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and matters set forth in our subsequent Quarterly Reports on Form 10-Q, some 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.
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For Additional Information
Reginald Fields
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