Oneok Achieves 50% GHG Reduction Target Ahead of Schedule

By Tamara Parker • Saturday, August 03 08:00 • Permanent Link

Oneok, Inc. (NYSE: OKE) has released its annual corporate sustainability report, showcasing its progress and commitment to environmental, social, and governance (ESG) performance. The report, available on the company's website, highlights several key achievements.

By year-end 2023, Oneok achieved reductions equivalent to approximately 50% of its total 2030 greenhouse gas emissions reduction target. Additionally, the company reduced scope 1 methane emissions by 36% from a 2019 baseline year.

Oneok continues to invest in innovative energy solutions, including emission-detection satellite technology and low-carbon fuels, and participates in hydrogen and carbon storage-related studies. In 2024, the company received an MSCI ESG rating of AAA and qualified for inclusion in over 40 ESG-related stock market indices.

The company also received recognition as one of America’s greatest workplaces for 2024 by Newsweek and as a top performer on employee wellness by Just Capital. In 2023, Oneok contributed $9.6 million to charitable organizations, with over 35% supporting diversity and inclusion-related initiatives.

Pierce H. Norton II, President and CEO of Oneok, emphasized the company's commitment to continuously improving its sustainability program, practices, and performance, stating, "We have much to be proud of, but more valuable work is ahead as we continue to deliver energy products and services that improve quality of life and support the growing global demand for energy."

Oneok, a leading midstream operator, provides gathering, processing, fractionation, transportation, and storage services through its extensive pipeline network spanning over 50,000 miles. The company plays a significant role in transporting natural gas, natural gas liquids (NGLs), refined products, and crude oil to meet domestic and international energy demand, contributing to energy security and providing responsible energy solutions.

Headquartered in Tulsa, Oklahoma, Oneok is an S&P 500 company and is committed to delivering energy that positively impacts people's lives in the U.S. and around the world. As a result of these announcements, the company's shares have moved -2.3% on the market, and are now trading at a price of $80.17. Check out the company's full 8-K submission here.

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