El Paso Corporation (NYSE: EP) today announced that it has published its
fourth annual corporate sustainability report (CSR), which provides a
comprehensive overview of the company's sustainability-related
activities.
"Throughout our more than 80-year history, El Paso has demonstrated many
achievements in building a legacy of sustainability," said John Sousa,
vice president of Communications and Community Relations for El Paso
Corporation. "In this fourth CSR, we took additional steps to enhance
our disclosures and build on our ongoing engagement and dialogue with
neighbors, investors, customers, employees and other stakeholders on
issues that are important to all of us -- the company's social,
environmental and economic impact."
In its CSR, El Paso reports on more than 30 Global Reporting Initiative
G3 profile disclosures and 13 performance indicators in support of its
vision to be "the Place to Work, the Neighbor to Have, and the Company
to Own." Key sustainability highlights in each area include the
following:
The Place to Work
El Paso continued to execute on opportunities to improve its workplace
in 2010, delivering:
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A year-over-year increase in classroom training courses offered and
classroom training participation;
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A year-over-year increase in total annual employee transportation
subsidies in support of workforce mobility and flexibility; and
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Continued leadership in industry from a safety perspective, with the
company's total recordable incident rate and days-away incident rate
in the top quartile of its industry groups.
In 2010, the company also received the Alfred P. Sloan Award for
Workplace Flexibility for the fourth consecutive year.
The Neighbor to Have
The company continued to make a positive difference in communities where
it operates and enhanced its efforts to minimize impacts to the
environment. Sustainability-related accomplishments in this area
included:
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Contributions of more than $4.8 million to support charitable causes,
with a focus on core giving areas of fundamental needs, education, and
environment in communities where El Paso has a presence;
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A year-over-year increase of more than 1,000 employee volunteer hours
through our Sharing Team El Paso volunteer program; and
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Continued focus and engagement on applicable greenhouse gas issues,
including a reduction of emissions through our production,
transportation, and sales of natural gas, as well as participation in
the U.S. Environmental Protection Agency's Natural Gas STAR program.
As part of its ongoing strategic partnership with the National Forest
Foundation, El Paso contributed to a significant restoration and
reforestation project in the New Jersey Highlands during 2010.
The Company to Own
El Paso continued to deliver outstanding value for shareholders. Key
highlights included:
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Full-year 2010 financial results at the high end of targeted range and
total shareholder return at the top of its peer group;
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Consistent execution on business strategies and programs focused on
producing, transporting, and selling natural gas, one of the cleanest
burning sources of energy; and
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In the area of governance, the Risk Metrics Group reported that, in
the categories of Board Structure, Compensation, Shareholder Rights
and Audit, El Paso's current governance practices and policies reflect
a "low" risk level of concern, with levels of risk categories of low,
medium, or high.
In May, El Paso announced plans to spin off its exploration and
production business from El Paso Corporation by year-end 2011, which
will result in two separate, independent publicly traded companies -- El
Paso Corporation, which will consist of the Pipeline Group, Midstream
Group, and interests in El Paso Pipeline Partners; and the E&P spinoff
company. The separation will provide greater management focus on
distinct business strategies, greater flexibility to grow the two
businesses, and independent capital structures and credit profiles,
which will help fuel that growth. Sustainability will remain an
important part of both company's futures.
Consistent with El Paso's approach to minimizing the environmental
impact of its CSR, the report is available as an interactive Web site at www.elpaso.com/csr/index.html
and as a downloadable file on the CSR page. Feedback on the report may
be sent to csr@elpaso.com.
El Paso Corporation provides natural gas and related energy products in
a safe, efficient, and dependable manner. The company owns North
America's largest interstate natural gas pipeline system, one of North
America's largest independent oil and natural gas producers and an
emerging midstream business. For more information, visit www.elpaso.com.
