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2022 – 2023 SUSTAINABILITY HIGHLIGHTS
Our employees are committed to answering the call for the reliable, affordable, lower carbon energy the world desperately needs. Our duty to being stewards of the communities in which we operate and live is not one we take lightly and is central to our culture and values.
We are constantly innovating across all aspects of our business, firmly embracing a lower carbon future and proudly playing an important role in helping meet the ambitions of the Paris Agreement as we strive to achieve net zero GHG emissions by 2035. As we invest capital in sustainability-linked projects, we do so with the goal of:
1 Improving revenue generation
Recent progress includes:
2 Driving lower end-use consumer costs
3 Maintaining positive return propositions
4 Replacing high emission energy sources
• Hired our first Chief Sustainability Officer, who works in collaboration with the Environmental and Social Governance Committee of our Board of Directors, to oversee our environmental and social governance strategy, programs, policies and practices.
• Invested ~$25 million in operational abatement programs (pneumatic device retrofits, flare installs, facility upgrades, waste gas to beneficial reuse project and alternative fueling) leading to ~750,000 mt CO2e abated.
• Invested ~$10 million in preventative emission management (satellite emission screening, flyover program, fixed methane monitoring devices, FLIR camera fleet and increasing audit and maintenance frequency) increasing accountability throughout organization.
• Began positioning Company for sustainability linked revenue generation through Momentum pipeline and CCS project, Appalachia CCS partnership, Criterion Energy Partners geothermal investment, Baker Hughes Wells2Watts Geothermal Consortium, evaluating and repurposing P&A candidates to geothermal wells and Greenfield geothermal projects, Altira Technology Fund VII investment, Sunya Innovation partner and Stanford Natural Gas initiative.
Initiatives
Environmental
• >50% improvement in both GHG and methane intensity since 2020, relative to production
• Lowered interim targets, relative to production to 3.0 GHG intensity and 0.02% methane intensity by 2025
• >2,000 fixed methane sensors, flyovers and FLIR inspections across portfolio
• 100% of gas volumes RSG-certified
• First company to achieve third party RSG certification across two major shale basins and continuously monitor production
Social Responsibility
• Commitment to diversity, equity and inclusion (DEI), including active Diversity Council, dedicated DEI professional and mandatory employee training programs
• Code of Business Conduct which defines the responsibilities all employees bear toward supporting our core values, including inclusion and diversity of thoughts and ideas
• Human rights policy defines standards we have set for our operations and supply chain management, upholding the UN’s Guiding Principles on Business and Human Rights
• Commitment to supporting the communities we serve through philanthropy and volunteerism
Governance & Transparency
• Transparent ESG disclosures including reporting ESG metrics across multiple industry and other voluntary frameworks and progress toward climaterelated targets
• Executive and employee compensation program cap Annual Incentive Plan payout at target for all performance metrics if we fail to achieve threshold levels of environmental and safety performance
• Executive compensation program aligned with shareholder returns and environmental and safety performance
• Annual Sustainability Report, which is available on our ESG microsite and includes, among other items, a detailed update on progress in sustainability leadership