PITTSBURGH, July 1, 2021 /PRNewswire/ — CNX Resources Corp. (NYSE: CNX) today announced the creation of the CNX Foundation, a 501(c)(3) nonprofit organization funded by CNX Resources, to manage its previously announced $30 million community commitment to spur a long-term sustainable return on investment and expanding the path to the middle class throughout the Appalachian region.
“CNX’s approach to community investing is directly linked to our unique environmental, social and governance (ESG) philosophy,” said Nick DeIuliis, President and CEO of CNX Resources. “Tangible, impactful and local is our hallmark of ESG, and the Foundation will partner with organizations that fit these criteria and are aligned with our goal of having a meaningful impact in our underserved local communities. We believe our approach to ESG will define effective leadership in this area for our industry and the regional business community as a whole.”
Managed by internal leaders responsible for executing the company’s ESG efforts, advised by external community partners, and governed by the Environment, Safety and Corporate Responsibility Committee of the Board of Directors of CNX, the CNX Foundation will place particular emphasis on social and environmental impact. By the end of 2027, CNX intends to invest approximately $17.5M in social efforts and $12.5M in environmental efforts and seeks to partner with local communities to undertake important projects and help solve the complex socio-economic issues facing the region. Key areas of interest include food insecurity, child health and well-being, recidivism and rehabilitation, the opioid epidemic and its impact on society, career awareness and technical training/ professionalism, as well as water quality and safety.
External advisory members of the CNX Foundation Board of Directors include:
- John Bettis, Bettis Brothers Sand & Gravel and Foundation bus stops here
- Jeff Nober, Executive Director, Builders Guild of Western Pennsylvania
- Brian Jackson, Superintendent, Greene West school district
Brian Aiello, Vice President of External Relations and Human Resources at CNX, will serve as President of the Foundation and Audric Dodd, director of community relations and strategic partnerships at CNX, will serve as executive director.
Since first announcing the philanthropic commitment in the spring of 2021, CNX has already committed $1.7M to several flagship projects, including:
- $1 million for broadband access in rural areas Greene County, Pennsylvania;
- $400,000 for professional training of students/graduates of the recently announced Regional Mentoring Academy;
- $200,000 for the Jerome Bettis Cyber Bus Project to meet the technology needs of disadvantaged school districts; and
- $100,000 for House of Life of Pittsburgh for the re-entry of returning citizens.
The CNX Foundation invites organizations in the tri-state area interested in applying for a grant to complete an application here. Applications will be reviewed on a quarterly basis. Additional updates from the CNX Foundation are available on the Foundation’s website here.
These investments represent a reallocation of previously planned expenditures and are expected to generate long-term sustainable economic returns for the region and the Company by removing barriers to socio-economic diversity and inclusion in the natural gas industry and beyond. of the. The commitment will be made while allowing the Company to achieve its previously announced multi-year free cash flow generation plan.
To learn more about CNX’s unique environmental, social and governance (ESG) approach, achievements and objectives, please visit: https://responsibility.cnx.com/esg-overview.html.
About CNX Resources Corporation:
CNX Resources Corporation (NYSE: CNX) is the premier independent natural gas development, production and midstream company, with operations centered in the major shale formations of the Appalachian Basin. Our vertically integrated model includes transmission, storage, gathering and water systems that support energy development from the wellhead to the end user. Benefiting from a heritage of more than 150 years and a considerable asset base accumulated over many generations, the company deploys a strategy focused on the responsible development of its resources in order to create long-term value per share. for its shareholders, its employees and the communities where it operates. From December 31, 2020, CNX had 9.55 trillion cubic feet equivalent of proven natural gas reserves. The company is a member of Standard & Poor’s Midcap 400 Index. Additional information can be found at www.cnx.com.
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SOURCE CNX Resource Corporation