Targa Resources Corp. Shares Insights on 2023 Sustainability Efforts
Targa Resources Corp. Shares Insights on 2023 Sustainability Efforts
HOUSTON — Targa Resources Corp. (NYSE: TRGP) recently unveiled its Sustainability Report for 2023, available on the company’s website. This report marks a significant advancement in Targa’s sustainability disclosures, providing insights into the company's performance across essential environmental, social, and governance (ESG) themes relevant to its operations.
Key Highlights from the 2023 Sustainability Report
The 2023 Sustainability Report offers a comprehensive overview of Targa's unwavering commitment to reducing its environmental footprint and advancing its sustainability initiatives. Some of the standout achievements include:
- Achieved a remarkable 19% reduction in methane intensity within the Gathering & Boosting (G&B) sector.
- Surpassed methane intensity objectives set through its participation in the ONE Future initiative.
- Conducted detailed aerial surveys for methane detection across all gathering and processing sites.
- Enhanced methane monitoring frequency at compressor stations to quarterly assessments, with bi-monthly checks at gas plants.
- Exported approximately 5.6 billion gallons of liquefied petroleum gas (LPG) worldwide, contributing to the reduction of greenhouse gas emissions by providing cleaner alternatives.
- Demonstrated notable safety performance, achieving a 25% decline in the Employee Total Recordable Incident Rate since 2021, validating Targa’s commitment to workplace safety.
- Received nine safety recognition awards, underscoring its leading safety standards in the midstream sector.
- 95% of newly hired employees were sourced from local communities where Targa operates, emphasizing its dedication to local engagement.
- 91% of the Board of Directors are independent, ensuring objective governance, along with fully independent committees handling key areas like Audit, Compensation, and Sustainability.
- 36% representation of women on the Board of Directors.
- A Board-level Sustainability Committee actively oversees and integrates sustainability into the business strategy to foster long-term stakeholder value.
Commitment to Global Standards and Accountability
The report not only outlines these impressive accomplishments but also aligns with several internationally recognized frameworks. Targa references the Global Reporting Initiative (GRI) Standards, International Financial Reporting Standards (IFRS), the Sustainability Accounting Standards Board (SASB) Oil & Gas Midstream Standard, and the Task Force on Climate-Related Financial Disclosures (TCFD).
To ensure the credibility of reported data, Targa engaged a third-party reviewer to conduct an attest review of specific greenhouse gas emissions and employee safety metrics featured in the report.
About Targa Resources Corp.
Targa Resources Corp. has established itself as a leader in midstream services, being one of the largest independent companies in this sector across North America. Targa focuses on a diversified portfolio encompassing a range of crucial midstream infrastructure assets, pivotal for the safe and efficient transport of energy resources across the United States and beyond.
Its operations involve the gathering, processing, and transportation of natural gas, along with managing NGLs and crude oil. This diversity helps ensure that Targa plays a vital role in meeting the growing global demand for cleaner fuel sources.
Positioned as a FORTUNE 500 company, Targa Resources Corp. is proud to be part of the S&P 500 index, reflecting its strong market presence and commitment to sustainable practices.
For further information about Targa Resources and its initiatives, visit the company’s website.
Frequently Asked Questions
What is the focus of Targa Resources' 2023 Sustainability Report?
The report emphasizes Targa's commitment to sustainability, showcasing achievements in reducing methane emissions and enhancing safety protocols.
How did Targa Resources reduce methane intensity?
Targa achieved a 19% reduction by implementing advanced monitoring techniques and exceeding targets set under the ONE Future initiative.
What percentage of Targa's board members are independent?
91% of board members are independent, which ensures unbiased governance and oversight of the company.
How does Targa ensure safety in its operations?
Targa has implemented rigorous safety protocols, resulting in a 25% decrease in incident rates, alongside receiving multiple safety awards.
Where can I find more information about Targa Resources Corp.?
You can learn more about Targa Resources, including their sustainability efforts, by visiting their official website.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
Related Articles
- Japan Experiences First Drop in Exports in Ten Months
- Market Signals Shift: Insights on Investor Behavior Today
- FTI Consulting Welcomes Sunny Yi as New Transformation Leader
- CNOOC Limited Expands Exploration with New Concession Contracts
- Market Trends: Wall Street Anticipates TSMC Earnings Insights
- Mercer International Inc. Reports Solid Q3 Financial Outcomes
- Acadia Healthcare Faces Class Action Lawsuit Amid Serious Allegations
- StoneCo Ltd. Gears Up for Q3 2024 Results Announcement
- AI Innovations Propel China's Preschool and Childcare Market Growth
- Global Friction Products Market Growth Driven by Innovation
Recent Articles
- Caracal and I2Pure Collaborate for Innovative Antimicrobial Solutions
- Steel Dynamics Reports Strong Q3 Earnings; Shares Surge Upwards
- Recent Decline in Russia Stocks: A Closer Look at MOEX Trends
- Innovative Lab Services Expands Reach with MLS Technologies Acquisition
- Discover MasHash: Transforming the Cloud Mining Landscape
- BTIG Initiates Coverage on InMode with $25 Price Target
- RIV Capital Teams Up with Nabis for Enhanced Distribution Reach
- Orchid Island Capital Reveals Solid Performance and Dividend Plans
- Transforming the Media and Entertainment Storage Sector
- Bluejay Diagnostics Lowers Quorum for Stockholder Meetings
- Growth Forecast for Popular Dark Fiber Market in Malaysia
- OptiNose Urgently Works to Avoid Nasdaq Delisting Challenges
- Exploring the Transformative Growth of Laser Cutting Machines
- Centific and Denvr Dataworks Unveil Groundbreaking AI Solutions
- Cable One Appoints New General Counsel Amid Leadership Changes
- Emerging Trends and Challenges in the Isobutyl Benzene Market
- Capricor Therapeutics Advances with BLA Submission for DMD
- Rising Demand for Electric Actuators Boosts Market Growth
- Telerehabilitation Systems Market Growth Projection to 2028
- Gritstone Bio Faces Major Changes Amid Financial Challenges
- T2 Biosystems Unveils New Product Developments and Revenue Growth
- Certara Welcomes Dr. John V. W. Reynders to Board of Directors
- New Mountain Finance Enhances Loan Terms for Improved Flexibility
- ICC Holdings Revamps Merger Terms and Executive Pay Structure
- Discover Financial Sees 43% Profit Surge Amid Interest Revenue Growth
- Class Action Lawsuit Filed Against Edwards Lifesciences: What You Need to Know
- Gevo Secures Major Funding for Sustainable Aviation Fuel Initiative
- Binary Stream and Solver Strengthen Partnership for Advanced Billing
- Class Action Lawsuit Targets Paragon 28, Inc. Investors
- Carriage Services Announces New Quarterly Dividend for 2024
- Timbercreek Financial to Host Conference Call for Q3 Results
- Hammond Power Solutions Prepares for Q3 2024 Results and Call
- Ero Copper Celebrates Return to Full Power in Brazil Operations
- Celularity Enhances Biomaterials Portfolio with Rebound Acquisition
- Community Healthcare Trust's $400 Million Credit Facility Enhanced
- True North Commercial REIT Plans Q3 2024 Financial Announcement
- Celebrating the Steel Milestone of JFK's Terminal Six Project
- How a $100 Investment in GOOGL Grew Over 5 Years
- DJI Responds to US Customs Halt on Drone Imports Amid Concerns
- Ero Copper Achieves Power Stability at Tucumã Mine Operations
- Discover How Delta Air Lines Transformed a $1000 Investment
- Surprising Decline in U.S. Crude Stocks Boosts Oil Futures
- Kraken Robotics Secures $45 Million in Recent Offering
- Leadership Transition at West Coast Community Bancorp Journey
- GeoVax Labs, Inc. Postpones Meeting, Plans for Share Issuance
- GBank Financial Secures $20 Million in Funding for Growth Plans
- Stephens Optimistic About First Watch's Growth Potential
- Calumet's $1.44 Billion Loan Boosts Renewable Fuels Expansion
- Riot Platforms Schedules Earnings Call for Q3 2024 Results
- Taiwan Semiconductor's Upcoming Earnings: Key Insights for Investors