Showcases Company’s Long History of Environmental Responsibility, Commitment to Employees, Communities and Customers and Clearly Defined ESG Goals
Report Includes Sustainability Accounting Standards Board (SASB) and UN Sustainable Development Goals (SDGs) Reporting
LOUISVILLE, KY (March 15, 2021) – Charah® Solutions, Inc. (NYSE: CHRA) (the “Company”), a leading provider of environmental services and byproduct sales to the power generation industry, today announced the publication of its first annual Environmental, Social and Governance (ESG) Report, prepared using internationally recognized Sustainability Accounting Standards Board (SASB) and UN Sustainable Development Goals (SDGs) reporting. The report provides information on the Company’s ESG performance in 2020, its response to the global pandemic, key issues identified by the Company and its stakeholders, as well as clearly defined ESG goals.
According to Scott Sewell, Charah Solutions President and CEO “Charah Solutions is nationally recognized in the power generation industry as a total solutions company, providing unparalleled service and innovation to meet the evolving and increasingly complex needs of our utility partners. For most companies, sustainability is a byproduct of what they do, but at Charah Solutions, sustainability is integral to what we do and who we are. Our work, mission, and Company culture are directly aligned with providing powerful services and sustainable solutions to solve the power industry’s most complex environmental challenges. Together, Charah Solutions’ management and employees are united in our firm commitment to ESG responsibility, and we demonstrate that commitment daily.”
The Company adopted a management approach to ESG that engages all levels of the Company including the Board of Directors, President and CEO, CFO, and employees. ESG initiatives and governance are led by the Nominating and Corporate Governance Committee of the Company’s Board of Directors, while the cross-functional ESG management team oversees the daily activities, policies, and procedures of the ESG program.
“Charah Solutions is truly one of America’s best examples of resource conservation and recovery through the beneficial recycling of coal ash, ash impoundment closure services and the remediation and redevelopment of land for community and commercial use,” added Stephen Tritch, Chairman of the Board of Directors. “This reporting demonstrates our commitment to environmental stewardship, employee wellbeing, corporate diversity, and strong governance, and our ESG actions and goals are the blueprints for achieving a cleaner environment and a more sustainable future. As this first annual ESG Report illustrates, we are committed to taking a leadership stance that investors recognize for value creation, that our partners recognize for aligning with their sustainability goals, and that our employees recognize for creating a great place to work.”
As a sustainability leader in utility services for over 30 years, Charah Solutions is dedicated to preserving our natural resources in an environmentally-conscious manner through remediation and compliance services, the beneficial use of coal combustion products (CCPs) and Environmental Risk Transfer (ERT) projects. Sustainability is a Charah Solutions core value, and our business is focused on developing innovative solutions to complex environmental issues for the betterment of the planet, the communities in which we operate and our customers.
Key 2020 ESG achievements outlined in the report include:
- Proven sustainability efforts that conserve virgin resources and water, reduce greenhouse gases and decrease landfill disposal, all while recycling and providing essential byproducts that contribute to the growth of our national economy.
- Use of recycled ash in structural fill projects in which we return the land to its community for recreational or commercial use allows thousands of acres of land to be reclaimed each year.
- Beneficial use of 2.58 million tons of fly ash and other supplementary cementitious materials (SCMs) in concrete and other products, which eliminates the need to dispose of fly ash in landfills, reduces the overall carbon footprint, and conserves virgin natural resources by substituting materials that would typically be mined.
- Innovative industry-leading EnviroSource™ (formerly MP618®) beneficiation technology improves fly ash quality so that significantly more tons of fly ash can be recycled and marketed for reuse. This technology significantly reduces the environmental carbon footprint created by Portland cement and provides a superior product at lower costs for ready mix concrete producers.
- 0.36 Total Recordable Incident Rate (TRIR) with no lost time or restricted time injuries.
- Commitment to our employees with a work environment characterized by considerate treatment of others, open and honest communication, personal accountability, trust, and mutual respect to provide superior service and sustainable solutions for our customers.
- Commitment to diversity and inclusion that includes specific diversity initiatives and programs to accelerate this growth for minorities and women at all levels of the Company and with suppliers.
- Concern for the wellbeing of our communities is genuine, as demonstrated by the number of community and charitable organizations that our Company and employees support.
Key 2020 ESG results include:
- 2.58 million tons of coal combustion residuals (CCRs) beneficiated and recycled for beneficial use
- 2.24 million tons of CO2 saved from entering the atmosphere
- 2.58 million tons of materials diverted from landfill disposal
- 34,215 tons of gypsum recycled
- Approximately 300 acres of land reclaimed since 2015
- 12 ponds cleaned and closed and 1 mine reclaimed since 2015
- 42.34 million gallons of wastewater treated
- 0 incidents of noncompliance associated with air emissions
- 0.36 Total Recordable Incident Rate (TRIR)
- A three-year average Experience Modification Rate (EMR) of less than 0.7
- 0 Lost Time or Restricted Time Injuries
- 10% diverse workforce
- 3.8% military veteran workforce
- Over $780,000 in charitable dollars donated
- 12 charitable organizations supported
- 17 employees provided grants through the ‘Charah Cares’ program
The 2020 ESG Report also outlines clearly defined goals to be the best possible employer to employees and vigilant stewards to the environment. Constant improvement is a must, and setting these goals ensures the Company is always innovating, providing our employees with opportunities to grow, and benefiting the environment at every step. Short-term and long-term goals have been established in the following areas:
- Improving data acquisition and reporting capabilities to strengthen future ESG Reports
- Diversity and Inclusion
Charah Solutions’ recovery of coal ash enables environmental recycling, as this coal ash is beneficially used in the production of concrete to satisfy the growing infrastructure demands that utilize millions of tons of coal ash every year, thus preserving natural resources while dramatically reducing the need for landfill space. Also, the beneficial recycling of ash in concrete production replaces Portland cement, a significant contributor to CO2 emissions, thus significantly decreases CO2 and other greenhouse gases that would otherwise be emitted into the atmosphere. Substituting recycled ash to make “Green Concrete” also makes it a better product for use in bridges, highways, and buildings.
The 2020 ESG Report is available for download on the Company’s website at www.charah.com/sustainability.
About Charah Solutions, Inc.
With 30 years of experience, Charah® Solutions, Inc. is a leading provider of environmental services and byproduct sales to the power generation industry. Based in Louisville, Kentucky, Charah Solutions assists utilities with all aspects to sustainably manage and recycle ash byproducts generated from the combustion of coal in the production of electricity. The Company also designs and implements solutions for ash pond management and closure, landfill construction, fly ash sales, and structural fill projects. Charah Solutions is the partner of choice for solving customers’ most complex environmental challenges, and as an industry leader in quality, safety, and compliance, the Company is committed to reducing greenhouse gas emissions for a cleaner energy future. For more information, please visit www.charah.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. These statements are based on certain assumptions made by the Company based on management’s experience and perception of historical trends, current conditions, anticipated future developments, and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. See the Company’s Form 10-K for the fiscal year ended December 31, 2019 and other periodic reports as filed with the Securities and Exchange Commission for further information regarding risk factors.
Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.