Materiality Assessment

To drive continuous improvement and evaluate our business performance, we closely monitor sustainability and ESG risks that are material to our success. In 2021, we conducted our second materiality assessment. This exercise objectively gathered feedback from internal and external stakeholders including Board members, investors, customers, employees and local community members to determine key focus areas and associated risks and opportunities relevant to our business activities. 

2021 Materiality Results

Our 2021 results reflect the internal and external dynamics Crestwood navigates as well as identifying emerging risks and opportunities. This assessment identified 14 material issues, highlighted below, that may potentially have a financial impact on our company.

We use our materiality assessment findings to inform both the context of this report and our next three-year sustainability strategy, which is integrated into our overall business strategy.

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Carbon Management

Crestwood understands that changing climate and market conditions can expose our business and operations to risks and opportunities. Understanding the critical role energy plays in society and the various pathways for emission reductions can help our industry meet energy demands while reducing risks associated with a changing climate.

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Biodiversity and Ecosystem Protection

We understand how vital healthy habitats and ecosystems are to a thriving world. We remain committed to environmental stewardship by upholding strategic and responsible practices related to Biodiversity.

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Supply Chain Management

Our goal is to build a dynamic and diverse supply chain that operationalizes sustainability, mitigates risk and meets organizational and local objectives.

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Air Pollution

We work to minimize air emissions to keep our employees, contractors and neighboring communities healthy and safe.

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Diversity, Equity and Inclusion (DEI)

We continue our journey in valuing diversity, building inclusion and inspiring diverse perspectives, ideas, skills and knowledge into everything we do.

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Employee Engagement

Our employees are the most important part of our success. We strive to provide a unique and engaging workplace culture with a focus on employee development.

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Transparency and Disclosure

Our goal is to lead the midstream sector in enhancing meaningful transparency in our ESG and Financial disclosures.

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Indigenous Relations 

Maintaining long-term relationships built on mutual trust and respect with all our diverse stakeholders is fundamental to Crestwood’s core values. We recognize that our success is directly tied to gaining acceptance and support from surrounding communities, many of whom in North Dakota are members of the Mandan, Hidatsa and Arikara (MHA) Nation.

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Occupational Health and Safety

Safety is our top priority. We believe everyone working for Crestwood must be committed to meeting or exceeding industry best practices, dedicated to continuous improvement of our safety performance and delivering best-in-class operational safety.

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Environmental Compliance

We recognize it is our responsibility to effectively manage our air emissions and waste using technology and innovation to protect our employees, local communities and the natural environment.

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Business Integrity and Ethics

Being a responsible corporate citizen means holding ourselves to the highest ethical standards. Our leadership and corporate governance policies promote and require exceptional business behavior every day. In turn, this advances the long-term interests of our stakeholders and maintains trust in our company.

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Risk Management

We conduct an annual enterprise risk management (ERM) exercise to identify and manage risks across our business. Results of the annual ERM program, including relevant ESG risks, are reviewed by executive management and approved through the Sustainability and Audit Committees.

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Stakeholder Engagement

We are focused on having open, honest and respectful engagement with our diverse stakeholders. Building strong, long-term relationships based on mutual trust and clear communication is essential to our success and a key component of our corporate engagement strategy.

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Cybersecurity

Cybersecurity is an ever-evolving risk, and we all have a responsibility to protect Crestwood and its assets against threats and risks. We conduct regular reviews and have key measures in place to evaluate our cybersecurity programs and protocols.