Giving back to the local communities where we live and work is something that we take pride in at Crestwood. We understand our communities are placing their trust in Crestwood to operate responsibly and safely while positively impacting society through supporting local initiatives. With a focus on building lasting relationships through engaging partnerships, volunteering and direct financial contributions, we continually seek to partner with organizations who share our desire to support economic development and the sustainability of our local communities.
For Crestwood, social investment is not just a ‘check-the-box’ exercise. We take pride in developing and maintaining our partnerships with local communities while building new, long-lasting relationships. Through our active participation, Crestwood’s social investment strategy takes a strategic, risk- and opportunity-based approach and considers the unique needs and aspirations of each community. We plan to be long-term guests in our communities, and our strategy purposefully focuses on the full lifecycle of our expected operations.
Crestwood’s social investment initiatives are developed to align with our four giving areas:
As part of our growing commitment and dedication to Diversity, Equity and Inclusion (DEI), in 2021 an all-employee compensation KPI was developed to encourage social investments to organizations with a specific emphasis on progressing DEI. In 2021, 64 percent of our charitable donations advanced DEI in our communities, surpassing our goal by 29 percent.
In 2021, 64 percent of our charitable donations advanced DEI in our communities surpassing our goal by 29 percent
We take our social responsibility seriously.
Our social responsibility and investment efforts are reviewed and approved through the Board of Directors’ Sustainability Committee, with all activities overseen by our president and chief financial officer. Each year, we collaborate with our local employees to discuss investment opportunities aligned with our four giving areas. The active engagement and participation of our employees provides opportunity for greater insight and connectivity to the local community.
In key operating areas, we enhance our understanding of social impacts, needs and opportunities by conducting social risk assessments. The results help us determine key challenges and inform our social investment efforts. Though COVID-19 has restricted us from doing on-the-ground social risk assessments since 2019, results from the last assessment completed in the Williston Basin continue to drive our investments around education, human trafficking and donations to emergency responders. We plan to conduct our next set of social risk assessments in person, when it is safe to do so, as part of our upcoming three-year strategy.
Working in partnership with our communities is essential to making a positive impact. Since 2018, Crestwood has donated $4.9 million to organizations that engage and promote safety, environmental stewardship, education and workforce development and community vitality, and $1.2 million, including our volunteering and employee matching gifts, was donated in 2021 alone. A key part of our strategic giving includes advancing DEI in the communities where we live and operate.
Social Investment Focus Areas
2021 Main Attributes
- Safety is a priority to our operations and critical to community quality of life
- Key strategic needs to enhance safety in the community including domestic violence and anti-human trafficking
- Support for local first responders, particularly volunteers, with equipment and training
Volunteering Our Time
At Crestwood, volunteering is not just an activity. It is a belief within our employees. Our employees continue to support their local communities by donating their time and expertise. Each year, Crestwood employees are eligible to receive up to eight hours of paid time off to volunteer at organizations of their choosing.
In 2021, Crestwood employees volunteered more than 1,600 hours to local nonprofits and community-based organizations
Further evidence of our team’s personal commitment to their communities is with their generous financial gifts to nonprofit and community-based organizations of their choosing. Matching gifts remains a key component of our social investment program. Crestwood matches contributions by employees and retirees dollar-for-dollar up to a maximum of $5,000 for eligible organizations. Our third-party platform continues to help raise awareness of our matching program while also streamlining employee access to the donation process.
In 2021, our matching program contributed approximately $116,000 to organizations positively impacting our society
Capacity Building Through Scholarships
Supporting local students in accomplishing their educational aspirations is a marquee social investment program for Crestwood. Our scholarship program provides educational and workforce development opportunities that focus on building skills locally where we operate. With our intentional efforts to grow energy-related skills, Crestwood is proud to support students through three different scholarship programs:
- Science, Technology, Engineering and Math (STEM) Scholarship Program – Providing financial assistance to students pursuing a post-secondary STEM degree
- Employee Dependent Scholarship – Providing financial assistance to students of full-time Crestwood employees, a new scholarship program in 2021 was established and awarded to five female students
- Crestwood Women’s Network Scholarship – Providing financial assistance to high school seniors with a specific focus on professional development and community service
Since 2019, Crestwood has provided approximately $572,500 in scholarships to 139 recipients through our three distinct Scholarship Programs
Scholarships: Total Giving Amount
|Total Giving Amount||$225,000||$132,500||$215,000|
|Total Number of Participants||53||33||53|
|Number of Females4||13||12||28|
|Percentage of Females4||25%||36%||53%|
|Number of Minorities5,6||13||11||11|
|Percentage of Minorities5,6||35%||55%||33%|
1 Includes STEM and CWN Scholarship Program
2 Includes STEM Scholarship Program
3 Includes STEM, CWN and Employee Dependent Scholarship Program
4 Includes all female recipients regardless of ethnicity
5 Excluding Casper College scholarship recipients, Casper College does track this information
6 Minority includes all male and female recipients of an ethnicity other than Caucasian
Social Investment Highlights
Social investment is an essential component to maintaining our social license to operate. In 2022, we plan to:
- Conduct a social impact assessment field audit in our operating areas to gain further understanding of the social risks and opportunities in our local communities
- Establish a Volunteer of the Year award to celebrate our most dedicated and inspirational employees who engage in meaningful volunteer activities in our local communities
- Link all employee compensation to meeting 2,000 collective volunteer hours
- Incorporate additional targeted schools into our STEM scholarship program
- Identify organizations that share our pursuit of a more diverse, equitable and inclusive society
- Enhance our charitable giving to support those organizations located near our newly acquired Oasis Midstream assets