Report Showcases Environmental Services and Byproduct Recycling Company's Long History of Environmental Responsibility, Commitment to Employees, Communities, Customers, and Shareholders
LOUISVILLE, KY / ACCESSWIRE / April 21, 2022 / Charah® Solutions, Inc. (NYSE:CHRA) (the "Company"), a leading provider of mission-critical environmental services and byproduct recycling to the power generation industry, today announced the publication of its 2021 Environmental, Social and Governance (ESG) Report which highlights the Company's ESG performance in 2021, substantially meeting or exceeding all 1-year ESG goals, and its continued commitment to environmental responsibility, employees, communities, customers, and shareholders.
The 2021 ESG Report is available for download on the Company's website at charah.com/sustainability.
According to Scott Sewell, Charah Solutions President and CEO, "Charah Solutions is nationally recognized in the power generation industry as a total solutions company, providing unparalleled service and innovation to meet the evolving and increasingly complex needs of our utility partners. Sustainability is integral to what we do and has been part of our DNA since the start. Our work, mission, and Company culture are directly aligned as we strive to be the best possible employer to our team members, be vigilant stewards to the environment, give back to the communities in which we work and live, and drive greater returns for our shareholders. I am very proud that we substantially achieved all our 1-year ESG goals and are well on our way to meeting our 3-year and 5-year goals thanks to the hard work and dedication of our employees at our sites across the country who demonstrate daily our firm commitment to ESG responsibility."
The Company's management approach to ESG engages all levels of the Company including the Board of Directors, President and CEO, CFO, and employees. ESG initiatives and governance are led by the Nominating and Corporate Governance Committee of the Company's Board of Directors, while the cross-functional ESG Leadership Team oversees the daily activities, policies, and procedures of the ESG program.
"Today, more than ever, the importance of ESG actions and commitments of corporations are driving environmental and social change across the country to improve our planet and lives," added Jack A. Blossman, Jr., Chairman of the Board of Directors. "As our annual 2021 ESG Report illustrates, Charah Solutions is driving real change, and we continue to take action and set policies to do more. We are committed to always taking a leadership stance that investors recognize for value creation, that our partners recognize for aligning with their sustainability goals, and that our employees recognize for creating a great place to work."
As a sustainability leader in utility services for over 30 years, Charah Solutions is dedicated to preserving our natural resources in an environmentally conscious manner through environmental and remediation services, the recycling of ash, and our Environmental Risk Transfer (ERT) services for the betterment of the planet, the communities in which we operate, and our customers. Our sustainability efforts conserve virgin resources and water, reduce greenhouse gases, and decrease landfill disposal, all while providing essential recycled-products that contribute to the growth of our economy and land remediation. Since 2020, Charah Solutions has prevented over 4.79 million tons of CO2 from entering the atmosphere through the beneficial use of ash and the shutdown of coal-fired power plants.
As part of Charah Solution's ESG reporting, short-term and long-term goals were established in four areas: Environmental, Data Acquisition and Reporting Capabilities, Diversity and Inclusion, and Safety.
Key 2021 achievements meeting 1-year ESG goals include:
- Sustainably redeveloped 4,456 acres at our Gibbons Creek Steam Station ERT project and returned 62.8 acres at our B.C. Cobb ERT project to natural wetlands, exceeding 1-year goal that 90% of land owned will be remediated and returned to its natural habitat or sustainably redeveloped.
- Improved the number and quality of site inspections and audits performed by our safety professionals and site team members in 2021, marking an all-time high with more than 10,654 inspections and 663,686 observations.
- No Notices of Violation or Notices of Deficiency in 2021.
Data Acquisition and Reporting Capabilities
- Developed methods to track actual electrical energy usage by site to refine Scope 2 Emission estimates, fuel usage by site to refine and validate fuel consumption calculations with field data, and waste disposal, including domestic waste, recycling, and industrial waste.
Diversity and Inclusion
- Increased the diversity of our Board of Directors from 14% in 2020 to 22% in 2021; the Board now includes one minority female and one minority male.
- Instituted new apprenticeship program which provides opportunity for new diverse hires to train and acquire the skills needed for trade/craft careers at our sites around the country.
- Instituted scholarship programs at five national and regional organizations to support our diversity and inclusion goals and includes the Charah Solutions Women in Construction Award for construction trades students implemented by National Association of Women in Construction (NAWIC) Founders Scholarship Foundation as well as Heavy Equipment Operator Diversity Scholarships at heavy equipment training schools in multiple regions across the country.
- Significantly increased our veteran workforce from 3.8% in 2020 to 5% in 2021, which represents a 41% increase year-over-year.
- Established and implemented methods to track all diverse suppliers.
- 0.32 Total Recordable Incident Rate (TRIR).
- More than 2.9 million work hours in 2021 without a Lost Time Injury.
- Commitment to our employees with a work environment characterized by considerate treatment of others, open and honest communication, personal accountability, trust, and mutual respect to provide superior service and sustainable solutions for our customers.
Key 2021 ESG results include:
- 2.79 million tons of coal combustion residuals (CCRs) recycled for beneficial use
- 1.58 million tons of CO2 saved from entering the atmosphere by recycling CCRs
- 2.79 million tons of materials diverted from landfill disposal
- 750,324 tons of gypsum recycled
- Approximately 4,818 acres of land reclaimed since 2015
- 14 ponds cleaned and closed and 1 mine reclaimed since 2015
- 294 million gallons of wastewater treated
- 0 incidents of noncompliance associated with air emissions
- 0.32 Total Recordable Incident Rate (TRIR)
- A three-year average Experience Modification Rate (EMR) of less than 0.62
- 0 Lost Time Injuries
- 20% diverse workforce (people of color and female)
- 5% military veteran workforce
- Over $800,000 in charitable dollars donated over the last 5 years
- 27 charitable organizations supported
- 7 employees provided grants through the Charah Cares program
The 2021 ESG Report is prepared using internationally recognized Sustainability Accounting Standards Board (SASB) and United Nations Sustainable Development Goals (SDGs). Charah Solutions supports the Security and Exchange Commission's (SEC's) initiative to establish uniform ESG reporting standards as investors not just require ESG disclosure but are actively searching for ESG investments as the need for ESG services increases. The Charah Solutions ESG Leadership Team is assessing recent SEC announcements and is fully committed to implementing future requirements.
About Charah Solutions, Inc.
With more than 30 years of experience, Charah Solutions, Inc. is a leading provider of environmental services and byproduct recycling to the power generation industry. Based in Louisville, Kentucky, Charah Solutions assists utilities and independent power producers with all aspects of sustainably managing and recycling ash byproducts generated from the combustion of coal in the production of electricity. Charah Solutions also designs and implements solutions for ash pond management and closure, landfill construction, structural fill projects, power plant remediation, and site redevelopment. Charah Solutions is the partner of choice for solving customers' most complex environmental challenges, and as an industry leader in quality, safety, and compliance, Charah Solutions is committed to reducing greenhouse gas emissions for a cleaner energy future. For more information, please visit https://charah.com/ or download our 2021 Environmental, Social and Governance (ESG) Report at charah.com/sustainability.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as "may," "expect," "estimate," "project," "plan," "believe," "intend," "achievable," "anticipate," "will," "continue," "potential," "should," "could," and similar terms and phrases. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. See the Company's Form 10-K for the fiscal year ended December 31, 2021 and other periodic reports as filed with the Securities and Exchange Commission for further information regarding risk factors.
Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE: Charah Solutions, Inc.
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