FAQ
EQT is the first traditional energy producer of scale to achieve net zero Scope 1 and Scope 2 GHG emissions.
EQT’s carbon footprint is constantly evolving with acquisitions and growth. NetZero Now+ reflects the achievement of our original net zero Scope 1 and Scope 2 GHG emissions goal as well as our ongoing efforts to reduce emissions and enhance operational efficiency across all EQT-owned assets in future years.
Based on 2024 emissions and EQT-generated offsets, EQT achieved net zero Scope 1 and Scope 2 GHG emissions across the entirety of its legacy upstream operations (i.e., assets owned by EQT prior to publishing its original net zero target in June 2021), plus assets acquired from Tug Hill/XcL Midstream and Alta Resources in August 2023 and July 2021, respectively. EQT acquired Equitrans Midstream Corporation in July 2024, and while Equitrans’ emissions are not included in EQT’s net zero claims, EQT is actively evaluating the emissions associated with the Equitrans assets to explore ways to reduce their emissions.
- Operational improvements accounted for a reduction in over 65% of Scope 1 and Scope 2 emissions from the legacy EQT business. These primarily included pneumatic device replacements, the electrification of frac fleets, our combo development drilling approach, and the installation of emissions control devices on the acquired Alta Resources assets.
- EQT developed a first-of-its-kind partnership that enabled it to offset its remaining emissions that cannot be reduced with existing technologies. These efforts implement USDA conservation management practices and are verified by West Virginia University, ensuring economic and environmental benefits to the region.
Embedded into EQT’s culture is a commitment to breaking records, and our work does not stop here. Our NetZero Now+ initiative reflects EQT’s achievement of attaining net zero with respect to Scope 1 and Scope 2 GHG emissions across all assets owned by EQT and its subsidiaries as of June 30, 2024, as well as our ongoing efforts to further reduce emissions and enhance operational efficiency across all EQT-owned assets in future years.
Companies are increasingly divesting carbon-intensive operations or assets to achieve corporate net zero targets. With this approach, the divested assets continue in operation, in many instances shifting to operators who are not subject to public scrutiny. This results in a shifting of emissions out of the hands of accountable operators, driven by a desire to achieve a corporate net zero goal, and not a reduction in emissions aligned with achieving the world’s collective emissions reduction goals. At EQT, we are taking the opposite approach. We believe our record demonstrates both that we are a committed leader in emissions reduction and field measurement efforts and that we can accelerate achievement of global emissions reduction targets by growing our asset base through acquisitions. While such acquisitions would inherently ascribe to our company Scope 3 emissions of any future acquired operations (emissions that would exist even if they were not acquired by us), it also puts those operations in the hands of stewards that will be accountable for accelerating emissions reduction efforts.