A note from our CEO on sustainability
SUSTAINABILITY
A note from
our CEO
We founded New Fortress Energy with a simple but ambitious mission centered on sustainability. We want to reduce emissions and increase access to power across the world. Climate change is an existential threat that is already impacting our planet’s ecosystems and communities. At the same time, over a billion people still don’t have electricity and the vast majority of humans have limited or unreliable access. To address these challenges, we sought to bring more affordable and cleaner fuel to markets that have a growing need for reliable power and electricity.
Our investments today focus on bringing natural gas to markets that are almost entirely reliant on oil-based fuels and lack the capital to invest in clean technologies and grid improvements. To date, we’ve had great success – our natural gas facilities have converted more than 900MW of oil-based electricity generation to efficient, cleaner gas-fired generation in Jamaica and Puerto Rico. And our projects in Nicaragua and Mexico will be online soon. With these terminals built out, we will eliminate 1.6 million tons of CO2 for our customers per year. That’s the equivalent of over 22 million trees planted or 300,000 cars off the road annually. And for every additional 100MW of power generation we convert, we will help reduce CO2 emissions by about 175,000 tons per year.
We also understand that lowering emissions isn’t the same as eliminating them. Our goal is to be a net zero emissions company by 2030. This is an audacious goal, but one that I believe meets the urgency of rising global temperatures.
We’ve created a new division within New Fortress Energy, called Zero, to focus on using green hydrogen to make our company the leading provider of zero-carbon, zero-emission power around the world. With hydrogen’s potential to displace natural gas and other fossil fuels in transportation, power and industrial purposes, there are tremendous opportunities for renewable hydrogen.
Additionally, we are focused on making sustainability and our environmental, social and governance (ESG) practices the best in the energy industry. That begins with transparency and measuring our progress. We will publish our first annual sustainability report within the next twelve months to provide our shareholders, customers and partners a clear understanding of how we intend to reduce our emissions and improve our impact over time.
I’m really proud of all that our team has already accomplished at New Fortress Energy to improve the planet for future generations. We’ve built a successful global company that reduces emissions, increases access to reliable and affordable power and is at the center of zero emissions innovations. It’s just the beginning of our journey – and I’m confident that our focus on sustainability will bring more success and progress along the way.
