Crescent Point Energy Corp. has released its 2020 sustainability report, highlighted by an emissions intensity reduction target of 30 per cent by 2025.
The report outlines the company’s latest progress and commitment to environmental, social and governance (ESG) performance.
Additional highlights of the report include:
- An effective risk-management response to the COVID-19 pandemic, demonstrating continued operational excellence and showcasing how the company prioritizes the safety of staff and its operating area communities.
- Significantly decreased asset retirement obligations by over $220 million in 2019 primarily driven by dispositions of non-core assets and ongoing reclamation activities.
- Adoption of operational technology platform to further minimize the risk of spills, reduce fleet emissions, and decrease the risk of motor vehicle incidents.
- Revised compensation program with a significant weighting directly tied to ESG metrics.
- Commitment to gender diversity in all levels of leadership, including the board.
- The release of the company’s first Taskforce for Climate-related Financial Disclosure (TCFD) framework in conjunction with the report.
“Our 2020 sustainability report shows our continued emphasis on enhancing Crescent Point’s strong ESG performance,” said Craig Bryksa, president and CEO of Crescent Point. “Our 30 per cent emissions intensity reduction target by 2025 is a tangible and achievable target that aligns with our purpose statement of 'Bringing energy to our world – the right way.' Integrating sustainability practices into our business operations is the right thing to do as our approach mitigates our long-term risks and strengthens shareholder value.”
The report is Crescent Point’s second sustainability report, building upon the inaugural report released in 2019. The full report, including a downloadable PDF, is available on Crescent Point’s website. The TCFD framework is also available on the company’s website.
