ifrs-s2-ibg-volume-34-gas-utilities-and-distributors-part-b

Title: Volume 34—Gas Utilities & Distributors

Category: Part B—Industry-based Guidance for IFRS S2

Source: IFRS Foundation (https://www.ifrs.org)

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Year: 2023

Type: Industry

Industry-based Guidance on implementing

Climate-related Disclosures

Volume 34—Gas Utilities & Distributors

June 2023

IFRS S2

IFRS

® Sustainability Disclosure Standard

International Sustainability Standards Board

This Industry-based Guidance accompanies IFRS S2 Climate related Disclosures (published

June 2023; see separate booklet) and is issued by the International Sustainability

Standards Board (ISSB).

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IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023

Introduction

This volume is part of the Industry-based Guidance on Implementing IFRS S2 Climate-related

Disclosures. This guidance suggests possible ways to apply some of the disclosure requirements in

IFRS S2 but does not create additional requirements.

This volume suggests possible ways to identify, measure and disclose information about

climate-related risks and opportunities that are associated with particular business

models, economic activities and other common features that characterise participation in

this industry.

This industry-based guidance has been derived from Sustainability Accounting Standards

Board (SASB) Standards, which are maintained by the International Sustainability

Standards Board (ISSB). The metric codes used in SASB Standards have been included for

ease of reference. For additional context regarding the industry-based guidance contained

in this volume, including structure and terminology, application and illustrative

examples, refer to Section III of the Accompanying Guidance to IFRS S2.

IFRS S2 INDUSTRY-BASED GUIDANCE

Volume 34—Gas Utilities & Distributors

Industry Description

The Gas Utilities & Distributors industry consists of gas distribution and marketing

entities. Gas distribution involves operating local, low-pressure pipes to transfer natural

gas from larger transmission pipes to end users. Gas marketing entities are gas brokers

that aggregate and deliver natural gas in quantities that meet the needs of various

customers, generally through other entities’ transmission and distribution lines. A

relatively smaller portion of this industry is involved in propane gas distribution;

therefore, this standard is focused on natural gas distribution. Both types of gas are used

for heating and cooking by residential, commercial and industrial customers. In

regulated markets, the utility is granted a full monopoly over the distribution and sale of

natural gas. A regulator must approve the rates utilities charge to prevent the abuse of

their monopoly position. In deregulated markets, distribution and marketing are

separated legally, and customers have a choice of which entity from which to buy their

gas. In this case, a common carrier utility is guaranteed a monopoly only over

distribution and is required legally to transmit all gas equitably along its pipes for a fixed

fee. Overall, entities must provide safe, reliable, low-cost gas, while effectively managing

their social and environmental impacts, such as community safety and methane

emissions.

Note: The Gas Utilities & Distributors industry does not include gas transmission entities

that transport high pressure natural gas over long distances from the wellhead. Gas

transmission entities are included in the Oil & Gas—Midstream (EM-MD) industry.

Furthermore, the Gas Utilities & Distributors industry covers activities related only to gas

provision and not to electricity provision. Some utilities may operate in both gas and

electricity markets. Entities undertaking activities related to electricity generation or

distribution also should consider the topics and metrics in the Electric Utilities & Power

Generators (IF-EU) industry.

Sustainability Disclosure Topics & Metrics

Table 1. Sustainability Disclosure Topics & Metrics

TOPIC

METRIC

CATEGORY

UNIT OF

MEASURE

CODE

End-Use

Efficiency

Customer gas savings from efficiency

TOPIC

METRIC

CATEGORY

UNIT OF

MEASURE

CODE

End-Use

Efficiency

Customer gas savings from efficiency

measures, by market 40

Quantitative

Million British

Thermal Units

(MMBtu)

IF-GU-420a.2

continued...

Note to IF-GU-420a.2 – The entity shall discuss customer efficiency measures that are required

by regulations for each of its relevant markets.

IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023

...continued

TOPIC

METRIC

CATEGORY

UNIT OF

MEASURE

CODE

Integrity of

Gas Delivery

Infrastructure

Number of (1) reportable pipeline

incidents, (2) corrective actions received

and (3) violations of pipeline safety

statutes 41

Quantitative

Number

IF-GU-540a.1

Percentage of distribution pipeline that

is (1) cast or wrought iron and

(2) unprotected steel

Quantitative Percentage (%) by length IF-GU-540a.2 Percentage of gas (1) transmission and

(2) distribution pipelines inspected Quantitative

Percentage of gas (1) transmission and

(2) distribution pipelines inspected Quantitative Percentage (%) by length IF-GU-540a.3 Description of efforts to manage the integrity of gas delivery infrastructure,

including risks related to safety and emissions Discussion and Analysis n/a IF-GU-540a.4 Table 2. Activity Metrics

ACTIVITY METRIC

CATEGORY

UNIT OF

MEASURE

CODE

Number of: (1) residential, (2) commercial, and

(3) industrial customers served 42 Quantitative Number IF-GU-000.A

(3) industrial customers served 42 Quantitative Number IF-GU-000.A Amount of natural gas delivered to: (1) residential customers, (2) commercial customers, (3) industrial customers, and (4) transferred to a third party 43 Quantitative Million British Thermal Units (MMBtu) IF-GU-000.B Length of gas (1) transmission and (2) distribution pipelines 44 Quantitative Kilometres (km) IF-GU-000.C End-Use Efficiency Topic Summary

pipelines 44 Quantitative Kilometres (km) IF-GU-000.C End-Use Efficiency Topic Summary Natural gas produces fewer greenhouse gas (GHG) emissions than other fossil fuels.

Expanding its use in the economy may be an important strategy for many governments and regulators striving to reduce GHG emissions. However, despite the relatively lower emissions, the natural gas value chain still produces meaningful levels of GHG emissions

emissions, the natural gas value chain still produces meaningful levels of GHG emissions overall. As policymakers and regulators seek to mitigate climate change, the efficient consumption of natural gas will be an important long-term theme. Energy efficiency is a low-lifecycle-cost method to reduce greenhouse gas (GHG) emissions. Utilities can offer customers a wide range of options to promote energy efficiency, including providing 41

customers a wide range of options to promote energy efficiency, including providing 41 Note to IF-GU-540a.1 – The entity shall discuss notable incidents such as those that affected a significant number of customers, created extended disruptions to service, or resulted in serious injury or death.

42 Note to IF-GU-000.A – The number of customers served for each category shall be considered as the number of meters billed for residential, commercial, and industrial customers.

the number of meters billed for residential, commercial, and industrial customers.

43 Note to IF-GU-000.B – The amount of natural gas delivered to residential, commercial, and industrial customers shall be disclosed by bundled gas and transportation service only.

44 Note to IF-GU-000.C – Transmission pipeline is defined as a pipeline, other than a gathering line,

that: transports gas from a gathering line or storage facility to a distribution centre, storage

that: transports gas from a gathering line or storage facility to a distribution centre, storage facility, or large volume customer that is not down-stream from a distribution centre; (2) operates at a hoop stress of 20 percent or more of SMYS; or (3) transports gas within a storage field. A distribution pipeline is defined as a pipeline other than a gathering or transmission line.

IFRS S2 INDUSTRY-BASED GUIDANCE 4© IFRS Foundation

rebates for energy-efficient appliances, weatherising customers’ homes and educating customers on energy saving methods. Overall, entities that sponsor efficiency initiatives may reduce the downside risks from demand fluctuations, gain returns on needed investments, decrease operating costs and earn higher risk-adjusted returns over the long term.

Metrics IF-GU-420a.2. Customer gas savings from efficiency measures, by market 1

term.

Metrics IF-GU-420a.2. Customer gas savings from efficiency measures, by market 1 The entity shall disclose the total amount of gas savings delivered to customers, in million British thermal units (MMBtu), from energy efficiency measures during the reporting period for each of its markets.

1.1

Markets are defined as operations that are subject to distinct public utility regulatory oversight.

1.2

Gas savings are defined according to the gross savings approach as the

regulatory oversight.

1.2

Gas savings are defined according to the gross savings approach as the changes in energy consumption or demand that result from programme-

related actions taken by participants in an efficiency programme,

regardless of why they participated.

1.2.1

The entity may list those markets where it reports gas savings on a net savings basis, and thus may be different from the figures disclosed here.

1.2.2

Net gas savings are defined as changes in consumption specifically

disclosed here.

1.2.2

Net gas savings are defined as changes in consumption specifically attributable to an energy efficiency programme and would not have happened otherwise in the absence of the programme.

2 Gas savings shall be calculated on a gross basis but consistent with the methodology set forth in jurisdictional evaluation, measurement and verification (EM&V) regulations in which such savings occur.

3 The scope of gas savings from efficiency measures includes savings delivered

3 The scope of gas savings from efficiency measures includes savings delivered directly by the entity and, when regulations provide, savings substantiated by purchases of efficiency savings credits.

3.1

For any savings from efficiency measures delivered directly by the entity,

any efficiency savings credits shall be retained (not sold) and retired on behalf of the entity for the entity to claim them as delivered gas savings.

3.2

behalf of the entity for the entity to claim them as delivered gas savings.

3.2

For efficiency savings credits that are purchased, the agreement shall explicitly include and convey that credits be retained and retired on behalf of the entity for the entity to claim them.

4 The entity shall consider guidance on regulations as a normative reference, thus any updates made year-on-year shall be considered updates to this guidance.

Note to IF-GU-420a.2 1

any updates made year-on-year shall be considered updates to this guidance.

Note to IF-GU-420a.2 1 The entity shall discuss customer efficiency measures required by regulations for each of its relevant markets, including a discussion of:

1.1

The amount or percentage of gas savings from efficiency measures required by regulations for each market IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023© IFRS Foundation 5

1.2

Instances of noncompliance with gas savings obligations

1.2.1

In such instances, the entity shall disclose the difference between the gas savings delivered and the amount required by the regulation.

1.3

Gas savings delivered that exceed those required by regulations and that resulted in the entity receiving energy efficiency performance incentives,

including the value of any such incentives 2 The entity shall discuss the policy mechanisms in place for each market that

2 The entity shall discuss the policy mechanisms in place for each market that allows for or incentivises energy efficiency, including a discussion of the benefits,

challenges and financial effects associated with such mechanisms.

3 Relevant policy mechanisms to discuss may include:

3.1

Deferral decoupling

3.2

Current period decoupling

3.3

Single fixed variable rates

3.4

Lost revenue adjustments

3.5

Energy efficiency feebates 4

3.3

Single fixed variable rates

3.4

Lost revenue adjustments

3.5

Energy efficiency feebates 4 The entity may discuss incentives developed for its customers that promote end-

use efficiency, which may include energy efficiency rebates and other measures to subsidise customer energy efficiency.

Integrity of Gas Delivery Infrastructure Topic Summary Operating a vast network of gas pipelines, equipment and storage facilities requires a

Operating a vast network of gas pipelines, equipment and storage facilities requires a multifaceted, long-term approach to ensuring infrastructure integrity and managing related risks. Although customers depend on reliable gas supplies, entities manage substantial risks—including those related to human health, property and greenhouse gas (GHG) emissions—that result from operating gas distribution networks and related

(GHG) emissions—that result from operating gas distribution networks and related infrastructure. Ageing infrastructure, inadequate monitoring and maintenance, and other operational factors may result in gas leaks. Gas leak safety-related risks, such as losses of containment, may result in fires or explosions that can be particularly dangerous in urban areas where entities often operate. Furthermore, gas leaks also result

dangerous in urban areas where entities often operate. Furthermore, gas leaks also result in fugitive emissions (methane), causing adverse environmental impacts. Regulated gas utilities generally incur no direct costs for gas leaks, because the cost of gas typically is passed on to customers (though this may vary by region). However, gas leaks that result in safety-related risks or fugitive emissions may affect entities financially through a

in safety-related risks or fugitive emissions may affect entities financially through a variety of regulatory, legal and product demand channels. Accidents, particularly fatal accidents, may result in negligence claims against entities, leading to costly court battles and fines. GHG emissions may result in increased regulatory scrutiny—a critical element directly connected to financial performance, given the importance of regulatory relations

directly connected to financial performance, given the importance of regulatory relations

—and potential fines and penalties. Importantly, regulated gas utilities can financially benefit from capital investment opportunities to improve performance and mitigate risks related to safety and emissions, which can be factored into their rate base. Entities manage such risks through pipeline replacements, regular inspections and monitoring,

IFRS S2 INDUSTRY-BASED GUIDANCE 6© IFRS Foundation

employee training and emergency preparedness, investments in technology, and other strategies such as working closely with regulators. In response to concerns about ageing infrastructure, many entities are seeking ways to expedite the replacement permitting and approval process, especially in cases where pipelines are located near densely populated areas.

Metrics IF-GU-540a.1. Number of (1) reportable pipeline incidents, (2) corrective actions

Metrics IF-GU-540a.1. Number of (1) reportable pipeline incidents, (2) corrective actions received and (3) violations of pipeline safety statutes 1 The entity shall disclose the number of reportable pipeline incidents, where:

1.1

Reportable incidents are defined as events that involve a release of gas from a pipeline and result in one or more of the following consequences: a death or personal injury necessitating in-patient hospitalisation; estimated

death or personal injury necessitating in-patient hospitalisation; estimated property damage equivalent to US$50,000 or more or the equivalent in the entity’s presentation currency, including losses to the operator, losses to others, or both, but excluding the cost of gas lost; an unintentional estimated gas loss of three million cubic feet or more; or an event that is significant in the judgement of the operator.

2 The entity shall disclose the number of violations of pipeline safety statutes

2 The entity shall disclose the number of violations of pipeline safety statutes where:

2.1

A corrective action is issued when a particular pipeline facility is found to be hazardous to life, property or the environment. A corrective action may include suspended or restricted use of the facility, physical inspection,

testing, repair, replacement or other appropriate action.

2.2

If corrective actions are not issued by applicable jurisdictional legal or

2.2

If corrective actions are not issued by applicable jurisdictional legal or regulatory authorities, the entity shall disclose the number that contain a statement of the provisions of the laws, regulations, or orders the entity is alleged to have violated and a statement of the evidence upon which the allegations are based.

3 The entity shall disclose the number of violations of pipeline safety statutes where:

3.1

A violation of pipeline safety statute is defined as a violation of

where:

3.1

A violation of pipeline safety statute is defined as a violation of jurisdictional pipeline safety protocol considered to be hazardous to life,

property or the environment and that results in the receipt of a notice or warning.

4 The entity shall disclose the applicable jurisdictional law or regulation used to define reportable pipeline incidents, corrective actions and pipeline safety violations.

Note to IF-GU-540a.1 1

violations.

Note to IF-GU-540a.1 1 The entity shall discuss notable incidents such as those that affected a significant number of customers, created extended disruptions to service or resulted in a‘serious incident’.

IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023© IFRS Foundation 7

1.1

Serious incidents are defined as incidents that resulted in a fatality or an injury requiring in-patient hospitalisation.

2 For such incidents, the entity may provide:

2.1

A description and cause of the incident

2.2

The total population affected by the incident

2.3

The costs associated with the incident

2.4

Actions taken to mitigate the potential for future service interruptions

2.5

Any other significant outcomes (for example, legal proceedings, serious injuries or fatalities)

2.5

Any other significant outcomes (for example, legal proceedings, serious injuries or fatalities) IF-GU-540a.2. Percentage of distribution pipeline that is (1) cast or wrought iron and (2) unprotected steel 1 The entity shall disclose the percentage, by length, in kilometres, of its natural gas pipelines that are (1) cast or wrought iron, and separately, (2) unprotected steel.

1.1

A distribution pipeline is defined as a pipeline other than a gathering or transmission line, where:

1.1.1

transmission line, where:

1.1.1

A gathering line is defined as a pipeline that transports gas from a production facility to a transmission line or main line

1.1.2

A transmission line is defined as a pipeline, other than a gathering line, that (1) transports gas from a gathering line or storage facility to a distribution centre, storage facility or large-volume customer that is not downstream from a distribution centre; (2) operates at a hoop stress of 20% or more of the specified minimum yield

hoop stress of 20% or more of the specified minimum yield strength (SMYS); or (3) transports gas within a storage field

1.2

Cast or wrought iron is defined as iron heated to its melting point and poured into moulds and cannot be moulded further or screwed.

1.3

Unprotected steel is defined as steel without corrosion protection.

2 The percentage of (1) cast or wrought iron distribution pipelines shall be calculated as the total length of cast or wrought iron pipelines the entity owns or

calculated as the total length of cast or wrought iron pipelines the entity owns or operates divided by the total length of distribution pipelines the entity owns or operates.

3 The percentage of (2) unprotected steel distribution pipelines shall be calculated as the total length of unprotected steel pipelines the entity owns or operates divided by the total length of distribution pipelines the entity owns or operates.

divided by the total length of distribution pipelines the entity owns or operates.

4 The entity may discuss its pipeline replacement rates, its use of polyethylene pipes, or other efforts to reduce fugitive emissions and leaks and improve the safety of its distribution pipelines.

IF-GU-540a.3. Percentage of gas (1) transmission and (2) distribution pipelines inspected 1 The entity shall disclose the percentage, by length, of gas (1) transmission pipelines, and separately, (2) distribution pipelines inspected during the reporting period.

1.1

A transmission pipeline is defined as a pipeline, other than a gathering line, that (1) transports gas from a gathering line or storage facility to a distribution centre, storage facility or large-volume customer that is not

distribution centre, storage facility or large-volume customer that is not downstream from a distribution centre; (2) operates at a hoop stress of 20% or more of the specified minimum yield strength (SMYS); or

(3) transports gas within a storage field.

1.2

A distribution pipeline is defined as a pipeline other than a gathering or transmission line.

2 Inspection activities include:

2.1

Internal inspection tool(s) capable of detecting corrosion and any other

2.1

Internal inspection tool(s) capable of detecting corrosion and any other threats to which the covered segment is susceptible

2.2

Pressure test(s)

2.3

Direct assessment to address threats of external corrosion, internal corrosion or stress corrosion cracking

2.4

Other technology that an operator demonstrates can provide an equivalent understanding of pipeline condition

2.4.1

If other technologies were used by the entity to conduct

understanding of pipeline condition

2.4.1

If other technologies were used by the entity to conduct inspections, the entity shall disclose which technology was used.

3 The percentage is calculated as the length of gas pipelines inspected divided by the total length of gas pipelines.

IF-GU-540a.4. Description of efforts to manage the integrity of gas delivery infrastructure, including risks related to safety and emissions 1

infrastructure, including risks related to safety and emissions 1 The entity shall describe its efforts to manage the integrity of gas delivery infrastructure.

1.1

Gas delivery infrastructure may include transmission pipelines,

distribution pipelines, storage facilities, compressor stations, metering and regulation stations, and liquid natural gas facilities.

1.2

Efforts may include those related to employee training, emergency preparedness, process safety and asset integrity management.

1.3

preparedness, process safety and asset integrity management.

1.3

Relevant information to provide may include the use of standards,

industry best practices, benchmarking and participation in third-party initiatives.

2 The entity shall describe how it integrates a culture of safety and emergency preparedness throughout its project lifecycles, such as through training, oversight of workforce, rules and guidelines for communicating risks, and use of technology.

of workforce, rules and guidelines for communicating risks, and use of technology.

2.1

The project lifecycle includes, at a minimum, pipeline design,construction,commissioning,operation,maintenance and decommissioning.

3 The entity shall describe its approach to ensuring pipeline operators are qualified or supervised when performing a covered task, including ongoing reviews of operator qualifications, assurance that unqualified workers are properly supervised, and efforts to maintain enough qualified pipeline operators, where:

3.1

supervised, and efforts to maintain enough qualified pipeline operators, where:

3.1

Pipeline operators are defined as those people who engage in the transportation of gas.

3.2

A pipeline operator is considered qualified to perform covered tasks when the individual has been evaluated, can perform the assigned covered task,

and can recognise and react to abnormal operating conditions.

3.2.1

A covered task is defined as an activity, identified by the operator,

3.2.1

A covered task is defined as an activity, identified by the operator,

that is performed on a pipeline facility, is an operations or maintenance task, is performed as a requirement of maintaining regulatory compliance, and affects the operation or integrity of a pipeline.

4 The entity shall describe its efforts to mitigate risks and promote emergency preparedness, such as coordinating with third parties (for example, sewer line and

preparedness, such as coordinating with third parties (for example, sewer line and buried power line developers), performing timely pipeline inspections, repairing ageing infrastructure and maintaining current pipeline operator certifications.

5 The entity shall describe its efforts to manage risks related to human health and safety, and emissions, including fugitive emissions and process emissions, that arise from the integrity of gas delivery infrastructure.

5.1

arise from the integrity of gas delivery infrastructure.

5.1

Fugitive emissions are defined as natural gas (primarily methane) emissions resulting from leaks or other types of unintended or irregular releases.

5.2

Process emissions are defined as natural gas emissions resulting from intentional releases.

5.3

Disclosure shall include relevant strategies, plans or targets related to reductions in fugitive emissions and process emissions, the entity’s ability

reductions in fugitive emissions and process emissions, the entity’s ability to measure such emissions, the activities and investments required to achieve the plans, and any risks or limiting factors that might affect achievement of the plans or targets.

6 Disclosure may focus broadly on safety and emergency management systems, but it specifically shall address operations in high consequence areas and the systems to avoid and manage emergencies, accidents and incidents that could have

to avoid and manage emergencies, accidents and incidents that could have catastrophic impacts on human health, the local community and the environment.

7 The entity shall discuss direct or indirect financial opportunities related to the integrity of gas delivery infrastructure, which may include improvements to stakeholder relations, opportunities for capital investments, reduction in customer rates through improved operational efficiency, and reduced risks of regulatory or civil fines or settlements.

8 The entity may disclose the following:

8.1

Pipeline replacement rates

8.2

Average response time for gas emergencies

8.3

8.1

Pipeline replacement rates

8.2

Average response time for gas emergencies

8.3

Open Grade 2 and 2+ leaks

8.4

Fugitive emissions, including the technique(s) employed to measure leakage, the amount of leakage calculated according to each technique it employs, and the regulations to which its gas leakage is subject.

8.5

Process emissions

8.6

Other efforts designed to reduce emissions or improve the safety of its gas delivery infrastructure IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023

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