SOURCE: El Paso Corporation

El Paso Corporation

June 30, 2011 11:00 ET

El Paso Corporation Issues 2010 Corporate Sustainability Report

Demonstrates Values and Ongoing Commitment to Building a Legacy of Sustainability as a Business Driver; Reflects Progress on a Variety of Sustainability Metrics

HOUSTON, TX--(Marketwire - Jun 30, 2011) - 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:

  • A year-over-year increase in classroom training courses offered and classroom training participation;
  • A year-over-year increase in total annual employee transportation subsidies in support of workforce mobility and flexibility; and
  • 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:

  • 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;
  • A year-over-year increase of more than 1,000 employee volunteer hours through our Sharing Team El Paso volunteer program; and
  • 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:

  • Full-year 2010 financial results at the high end of targeted range and total shareholder return at the top of its peer group;
  • Consistent execution on business strategies and programs focused on producing, transporting, and selling natural gas, one of the cleanest burning sources of energy; and
  • 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.

Contact Information

  • Contacts:
    Investor and Media Relations
    Bruce L. Connery
    Vice President
    713-420-5855

    Media Relations
    Richard Wheatley
    Manager, Media Relations
    713-420-6828