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Atlantic - Leading the way in responsible business
Leading the Way in Responsible Business
Atlantic's Sustainability Journey
Sustainable investing is a major business driver and a priority for corporate entities. With the relatively recent global drive to accelerate solutions for environmental, social, and governance (ESG) challenges, sustainability is an imperative in how business is done. ESG is measuring the impact of corporate action – particularly as it relates to how companies are delivering on mitigating environmental harm.
The intense focus on corporate accountability is due in large measure to the most pressing issue of this century – climate change – and the associated wide-ranging environmental, social, and economic consequences that arise as a result.
To mitigate the effects of climate change, countries and companies have pledged to do their part to ensure a sustainable future for lives, livelihoods, and the environment. The increased focus on sustainable development coincides with the gaining traction of ESG concerns not limited tobut particularly in - the oil and gas industries. An evolution of the Sustainable Development Goals and the Millennium Development Goals (MDGs), ESG addresses measurable impact in key areas of Co2 emissions, workplace environment and transparent business management. What the SDGs address is wider and more far reaching and include equity and societal wellbeing. The SDGs identify 17 goals as focus areas, and 169 targets for action. Atlantic’s social programmes are aligned to these goals.
Atlantic LNG Company of Trinidad and Tobago is one of the world’s major producers of liquified natural gas and contributes significantly to the continued sustainable development of the people and communities in Trinidad and Tobago, and particularly its home community of Point Fortin. Through initiatives that range from carbon
abatement, skills training and educational programs, agribusiness entrepreneurship, food security, and sea turtle conservation, Atlantic has proven to be much more than a leader in the global energy industry as an LNG producer. The principles that Atlantic has built into each of these initiatives are part of a wider strategy of shared value – i.e., contributing to economic growth through the production of liquified natural gas, and ensuring that its own profitability generates a sustainable future for all citizens. As the world grapples with issues of sustainability however, it is not enough to simply implement ESG principles. It requires collaboration and alignment with societal aspirations for the development of viable and sustainable communities.
Creating a culture of sustainability
Sustainability is integral to the values of Atlantic and is present in every aspect of its operations as the Company recognised from its inception, that societal health is very much linked to its own long-term growth objectives. Consequently, Atlantic has focused its efforts on leading the way and modelling a culture of sustainability in Trinidad and Tobago. Atlantic’s overarching culture of sustainability is the bedrock upon which its ESG priorities are designed and executed.
Carbon abatement for the future
At the core of any responsible ESG approach is a disclosure of business management outcomes. Long before the articulation and adoption of the United Nations 17 Sustainable Development Goals (SDGs) came into force in 2015, Atlantic had already demonstrated its awareness and commitment to creating a sustainable future for T&T. It has been providing information on its environmental performance via corporate social responsibility reports since 2004 and sustainability reports since 2008. Premised on values of transparency and accountability, the approach to sound environmental practice by Atlantic, involves accounting transparency via quarterly reports on its GHG inventory to the Ministerial Committee for the implementation of the National Determined Contribution of Trinidad and Tobago. Additionally, Atlantic voluntarily reports its GHG inventory to the national monitoring and verification system also known as the Knowledge Management System which is managed by the Environmental Management Authority.
Atlantic’s historically proactive approach to managing the environmental impact of its operations, has culminated in a comprehensive Carbon Abatement Plan. At the core of this Plan is an emphasis on sustainability. To support the national agenda of achieving a 15% reduction in overall GHG (Greenhouse Gas) emissions by 2030, Atlantic transparently discloses information on its environmental performance via its sustainability reports. Last year’s 2021 sustainability report reflected Atlantic’s achievement of GHG emissions savings totalling 32,503 tCO2e (tonnes of carbon dioxide), approximately 120% above the target of 27,141
tCO2e
The success of Atlantic’s carbon abatement strategy relies on collaboration. Atlantic’s collaboration with its internal stakeholders and shareholders to assess decarbonization pathways for its facilities has contributed to cumulative savings of just under 150,000 tCO2e since 2017.
Additionally, Atlantic’s ability to measure its environmental and carbon footprint consistently and accurately, is helped by its GHG Calculator. Developed in 2017, the GHG calculator is aligned with international standards of GHG accounting. Notwithstanding the challenge of accurately
measuring environmental-impact success within complex and varied frameworks, Atlantic has focused attention on measuring what can be quantified.
While corporate metrics in its management of environmental impact necessarily occupies a central role in its ESG agenda, the social and corporate governance pillars constitute equally important areas in the company’s strategic focus.
Sustainable education
In addition to Atlantic’s carbon abatement initiatives, the company’s attention to ESG principles has seen them prioritise educational and leadership programmes.
For over two decades Atlantic has been energizing future leaders through its longest-running sustainability initiative, the Point Fortin’s Finest Leadership Development Programme. Established in 2000, this programme has seen 219 students benefit through the award of scholarships to the top 10 students graduating from primary schools in Point Fortin, along with skills training and career-focused development opportunities. The programme’s success emphasizes the benefits of sustainable education models. On average just over seventeen thousand students across Trinidad & Tobago benefit from Atlantic’s sustainability strategy through its community programmes annually.
Atlantic Excel – The 2022 Point Fortin’s Finest Cohort
Atlantic’s continued emphasis on skills training as integral to a sustainable future is apparent in their commitment to producing skilled tradespersons who are globally competitive. Another programme in the company’s sustainable education model is the Atlantic National Energy Skills Centre Skills Training through the NESC Technical Institute. The Skills Training Programme aims to develop highly skilled technical persons while creating opportunities for graduates to access employment or entrepreneurial opportunities. Atlantic subsidizes the total cost of the programme which includes tuition and material fees for all participants. While 1054 persons have been certified with the direct support of Atlantic, the actual number is far higher as Atlantic is also a founding member of the NESC. Its support of the NESC from inception has undoubtedly played a key role in the production of technically skilled persons graduating from the institution since its establishment in 1997.
Sea turtle conservation
Due to rising sea levels associated with climate change, along with coastal development, it is expected that there will be less suitable nesting habitats for sea turtles in the future. The present and impending threats to sea turtle habitats particularly in Trinidad and Tobago have seen Atlantic develop initiatives to protect the endangered sea turtles. The company’s fourteen-year partnership with the Turtle Village Trust, the umbrella body for turtle conservation, has been a successful collaboration that addresses and reverses the impacts of perennial injury and disruption to turtle nesting caused by human behaviour. Through Atlantic’s social partnership, sea turtles are given critical protection at various life stages: nesting, hatching, and migratory patterns by building awareness and educating the public on good practice in caring for turtles.
With Atlantic’s support the Turtle Village Trust, has been able to record over one hundred thousand (105, 919) nesting events, with 11,007 turtles successfully tagged. The geotagging project offered high precision, real-time data on the activity of the tagged turtles. Added to this is ongoing research into the foraging habits of resident green and hawksbill turtles. A Head Start Hatchery Programme also
saw the improvement in survival rates of the hatchlings of the green and hawksbill species of sea turtles by impeding threats to the natural nesting conditions of the turtles. The National Sea Turtle Tagging and Monitoring Programme also supports the training of members of the community in various aspects of this important conservation exercise.
Food security and the future
Within the context of ESG, food security becomes even more urgent because of the environmental and social issues involved. A country’s lack of food security can potentially lead to higher food prices and more severe shortages. Changes in policy, technology, and consumer behaviour are therefore necessary for addressing food security in the longer term. Atlantic’s sustainability strategy addresses this challenge, and it has also undertaken initiatives to sensitise its staff about global food security.
To complement this, Atlantic partnered with the Sustainable Unemployment Reduction Efforts (SURE) Foundation to fund and distribute 330,000 seedlings. The intention of encouraging sustainable food production while easing the economic hardships experienced by families is part of Atlantic’s overall commitment to community development.
As outlined in the 2021 edition of the UN report, The State of Food Security and Nutrition in the World, scaling up climate resilience in food systems is one of the main ways through which countries impacted by food insecurity can improve consistent access to nutritious food systems.
In Trinidad, Atlantic recently piloted a climate resilient food system by developing a form of agriculture using a ‘SolarPonix’ model. As part of Atlantic’s overall Community Environment Programme, the local Solar-Powered Hydroponic system uses technology invented by Ancel Bhagwandeen, a Trinidadian consulting engineer from the MIC Institute of Technology. The innovative design of the ‘SolarPonix’ system incorporates a portable, compact design with the ability to log data and gauge temperature, light levels, electrical conductivity, and pH of the nutrient solution. It is intended that the simple, yet effective technology will enable experimentation to optimize plant
yields. The wide-ranging effects of a solar-powered hydroponic system promises a more efficient and earth-friendly alternative to conventional farming. Atlantic’s support of renewable technologies such as the ‘SolarPonix’ system is consistent with the company’s strategic pivot toward The Global Energy Transition and its desire to build sustainability and enhance food security within its home community of Point Fortin.
Deployment of the ‘SolarPonix’ system of agriculture is targeted towards five participating secondary schools in Atlantic’s home community. The practice of building sustainable practices into educational institutions is a core pillar of Atlantic’s strategic focus on sustainable community-based initiatives and its ethos of creating a better future for the next generation.
Sustainability in agri-business
Any successful ESG approach to sustainable agri-business must put farmers and creating entrepreneurial opportunities at the centre. Atlantic does this through several educational programmes in sustainable agricultural practices and also provides support to entrepreneurial growth in the Southwest peninsula through its micro-financing agency Loan for Enterprise and Network Development (LEND).
Established in 2014, LEND has helped diversify economic activity in Trinidad’s Southwest Peninsula outside of the traditional oil and gas sector, by focusing on agricultural innovation and stimulating entrepreneurial activity in other sectors. In keeping with Atlantic’s responsibility to create sustainable opportunities, the Agency targets microenterprises engaged in retail, manufacturing, fishing, agriculture, and other services. Through the embedding of sustainable practices in agri-entrepreneurship, Atlantic simultaneously provides opportunities for future generations of farmers and healthy, affordable home-grown produce for communities across Trinidad and Tobago. Over the period January - November 2022, eighty loans were distributed at a value of $2.78 million. Since its inception, 806 loans have been distributed at a total value of $28.4 million.
Another key aspect of Atlantic’s commitment to ensuring a sustainable future involves the promotion of “green skills” particularly in agri-business. Atlantic’s Community Environment Programme, in addition to protecting ecosystems, nurtures the next generation of farmers and Agri-entrepreneurs.
Most recently, in 2022, Atlantic partnered with The Caribbean Industrial Research Institute (CARIRI) to provide training for select Secondary schools in the company’s home community of Point Fortin. It is expected that 100 students will benefit from the virtual training which comprises modules in Climate Change and Sustainability, Energy Auditing, GHG/Carbon Footprint, Solar PV Systems, ICT applications in Sustainable Energy, and Entrepreneurship in Sustainable Energy.
Atlantic has also partnered with the University of Trinidad and Tobago (UTT) since 2010 to create the Atlantic/UTT National Agriculture Enterprise Training Programme. The three-month programme allows participants to grow their agricultural enterprises by providing them with essential skills in business and financial management.
Modules in the programme include business plan development, computer technology for agricultural businesses, marketing and market planning, and the legal framework for local business. Tuition fees for this programme are undertaken by Atlantic as part of the company’s commitment to contributing to the national push toward food security and economic diversification. Over 205 agri-business beneficiaries are today contributing to the nationwide transition to a green economy. The National Agriculture Enterprising Training Programme goes beyond traditional classroom instruction by offering participants practical exposure to agri-entrepreneurship. For example, the 2018-2019 cohort of the programme toured the Nutrien Model Farm in Point Lisas to learn about best practices in agriculture. The tour exposed participants to technological approaches to agriculture including efficient pest management tools, modern methods for soil testing, and a computerized irrigation system.
The way forward
The move towards creating a sustainable future is a continuous process. Atlantic has long recognised that as the effects of climate change become more pervasive, countries and companies will be required to not just adopt ESG criteria but more importantly innovate their ESG practice to ensure competitiveness and relevance. This is why the company has effectively run its business along tenets of sustainability. These tenets have been integrally woven into the company’s corporate strategy and will play a significant role as it embraces the Global Energy Transition.
With an unquestionable culture of sustainability, its comprehensive carbon abatement policies, and its attention to sustainable agriculture practices, the protection of marine life, education, and transparent reporting, Atlantic has a credible track record and strong footprint in the Sustainable Development Goals and ESG performance. Atlantic has proven to be more than a leader in the production of liquified natural gas. By embedding sustainable practices into its operations, the company is also proving to be a leader in Sustainable Business practices and ESG principles.
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