Partnership is next step in Company’s plan to become NetZero by 2050
South Burlington, Vt. – VGS today announced it has added certified, responsibly developed thermal energy into its system that serves more than 53,000 homes and businesses in Addison, Chittenden and Franklin counties. As part of its overall supply, VGS is purchasing the Equitable Origin EO100™ certified natural gas from Seven Generations Energy (7G), an energy producer dedicated to responsible development in Alberta, Canada. EO100™ certification is awarded to companies that meet or exceed certain criteria for environmental, social and governance (ESG) performance evaluated by Equitable Origin. The responsibly sourced energy makes up approximately 10 percent of the VGS supply and is now flowing directly to customers.
“By adding responsibly-sourced natural gas to our portfolio, VGS is making good on transforming our business to help combat climate change,” said Neale Lunderville, President and CEO of VGS. “Responsibly-sourced natural gas is a new chapter in VGS’s long history of leading action in the industry: from publicly calling on the Environmental Protection Agency for stricter emissions standards, to committing to a 30% reduction in customer greenhouse gas emissions by 2030. Seven Generations is the gold standard when it comes to implementing environmental, social, and governance best practices and we are thrilled to partner with them on this exciting venture.”
Responsibly sourced natural gas is produced with the highest environmental, social and governance standards as set by independent third-party evaluators. 7G received certification as a responsible producer under the EO100™ Standard for Responsible Energy Development in November 2019 – the first certification awarded to a natural gas producer in the world. To meet the EO100™ standard, 7G had to meet or exceed a multitude of performance criteria involving corporate governance, transparency and business ethics, Indigenous Peoples’ rights and climate change, biodiversity and environment.
Responsibly-sourced natural gas should not be confused with VGS’s first-in-the-nation Renewable Natural Gas (RNG) program, which captures the methane produced by organic material in landfills, wastewater treatment facilities and farms and turns it into pipeline-quality natural gas.
“Responsible development has long been at the core of our company. We are pleased to work with VGS – a company who shares our commitment to sustainability – and deliver our responsibly produced natural gas to homes and businesses in Vermont,” said Marty Proctor, President & Chief Executive Officer, Seven Generations Energy. “This partnership brings increased transparency to the full natural gas value chain, from the well-head to the burner tip, and ultimately, supports VGS in reducing its overall footprint and more sustainably meeting the energy needs of the customers and communities it serves.”
The responsibly sourced natural gas is produced in Alberta, Canada and delivered to VGS through the TransCanada pipeline. VGS estimates this new clean energy measure will add about 15 cents per month to the average residential customer’s heating bill.