Toby Rice, president and CEO of EQT Corp. (EQT Corp.)

By Riley Dunn, Pittsburgh Business Times

In a new report released on Tuesday, EQT Corp. (NYSE: EQT) said that it reached a global milestone, becoming the first large-scale traditional energy producer to achieve net zero Scope 1 and Scope 2 greenhouse gas emissions. The company made this announcement in its 2024 Environmental, Social, and Governance Report entitled “Promises Made, Promises Delivered.” 

This new report covers Pittsburgh-based EQT’s progress over the past five years and how natural gas has evolved as an energy source, leading to a lack of greenhouse emissions. 

“When I took on the role of president and CEO of EQT in 2019, our mission was clear: To transform EQT into the operator of choice for all stakeholders, empower our workforce to reach the full potential of EQT and provide our customers with the reliable, affordable and cleaner energy that they need,” EQT President and CEO Toby Z. Rice said in a statement. 

Scope 1 emissions are defined as emissions produced directly by a business, while Scope 2 emissions are indirect emissions that come from the generation of purchased energy. The report characterizes how natural gas is shaping energy usage both domestically and abroad — reinforcing its new role, which many consider to be critical. 

“As we reflect on this journey, I am honored to share the meaningful progress we have made in delivering on our commitments,” Rice said. “We’ve grown and evolved, creating America’s first large-scale vertically integrated natural gas company and the world’s first traditional energy company of scale to reach net zero greenhouse gas emissions on a Scope 1 and Scope 2 basis. We remain committed to demonstrating the critical role of natural gas in delivering affordable, reliable and cleaner energy to the world.

The full report can be accessed on EQT’s website.

Riley Dunn is a student at the University of Iowa and one of 10 Pittsburgh Media Partnership summer interns.