Energean recognises the importance of a sustainable future and is committed to set science based targets aligned with limiting global temperature rise to 1.5oC above pre-industrial levels and reach net-zero emissions by no later than 2050 in line with 1.5oC scenarios.
Energean takes action against the climate change effects and schedules to be engaged in the Carbon Disclosure Project (CDP). Energean is already disclosing Scope 1 and Scope 2 emissions and is in the process of standardizing emissions calculations and reporting processes for Scope 3 emissions as per CDP requirements. This will provide a clear understanding of the company’s emissions spectrum and enable us to manage them to a sustainable future by ultimately reducing them.
Energean is committed to set science-based targets to reduce GHG emissions in line with 1.5oC emissions scenarios within the next 24 months. A time schedule of 5 to 15 years for meeting the targets shall provide the necessary duration for the development and implementation of the most effective processes.
Net-zero emissions commitment
Further to the above Energean is committed to net zero emissions by 2050. This shall be achieved by initially reducing absolute GHG emissions by implementing science-based plans and further to that by balancing a measured amount of carbon releases with an equivalent amount sequestered or offset, or buying enough carbon credits to make up the difference. Potential actions considered to be evaluated on their feasibility and effectiveness include Negative Emissions Technologies (NETs) and Carbon Capture and Storage (CCS) projects together with reforestation and afforestation initiatives.
Assessing Low-Carbon Transition Technical Working Group (ACT TWG)
We participate in the ACT Oil & Gas TWG that intends to develop methodologies to determine the degree of alignment of a company with a well-below 2oC world using a holistic sectorial approach and taking into account both quantitative and qualitative indicators that can provide insight on the company’s current and future ability to reduce its climate impact.
Energy efficiency measures
Energean seeks to foster trust in the process of analysing and reviewing energy uses and energy consumption data of various sources within the scope of the certified to ISO 14001 Environmental Management System. During 2019 Energy Management Teams have been established in the production installations for conducting annual Energy Analysis & Review to identify energy issues and opportunities for performance optimization.
We maintain an excellent track record of environmental risk management. In 40 years of operation, in the sensitive environment of the Gulf of Kavala, no environmental damage has been recorded. Further to that our operations in the Israel and Montenegro offshore were totally in line with the national and international environmental standards and European directives, having zero environmental impact.
Our onshore and offshore water discharges are continuously monitored to meet the requirements of the Water Framework Directive, the Marine Strategy Framework Directive, the Barcelona Convention and the International Convention for the Prevention of Pollution from Ships ('MARPOL').
We aim to conserve the biological diversity of terrestrial, marine and avian migratory species throughout their range. We manage our operations by taking into account the fundamental ecological functions of wetlands and their economic, cultural, scientific and recreational value. No effect from our operations is recognised by independent studies in Greece and Montenegro.
The Bonn Convention, the Ramsar Convention, the Convention on Biological Diversity, and the EU Birds and Habitats Directives are considered throughout the execution of environmental impact assessments and environmental monitoring plans.
Water recycling and reuse
We recognise the importance of global water resources to the environment, as well as water's social, economic and political implications. We are reducing the impact of our operations upon water resources by recycling and reusing water withdrawals for production, cooling, firefighting and utilities. In 2019 we recycled more that 90% of our water withdrawals.
Following the principles of circular economy Energean aims at eliminating waste and the continual use of resources. Waste minimization and segregation at source, reuse, recycling and recovering energy constitute the hierarchy of our main continuous targets while landfilling if unavoidable it is adequately controlled to be safe for human health and the environment. During 2019 we recycled more than 90% of our waste through authorised companies.
Adaptive environmental behaviour
At Energean, we seek to promote environmental awareness amongst our employees, throughout their daily activities, both inside and outside of the workplace. We recognise that sustainable development and sustainable living are key to successful environmental conservation. We therefore regularly undertake environmental initiatives with the participation of local communities, such as cleaning local beaches.
All Energean Oil & Gas employees are encouraged to act in an environmentally responsible manner and training is provided by the Company to raise awareness of environmental issues.
Top Priority is given to:
- Safety of personnel
- Protection of the environment
- Safety of facilities
Emergency response procedures
The Company has developed and tested emergency response procedures for handling specific incidents such as oil spills, pipeline and tanker leaks and non-controlled abnormalities of the production platforms.
Staff are regularly given comprehensive training on how to respond in the event of an emergency and all our facilities are fully equipped with the necessary technology and tools to combat incidents such as those outlines above.
So far, Energean has never had to put its emergency response procedures into practice, which demonstrates the effectiveness of our safety and environmental systems. However we remain ready to act in the unlikely event of an accident.
Our industry, tourism and the environment in co-existence
Our track record of zero environmental incidents during our operations in the Gulf of Kavala in Montenegro and in Israel demonstrates that heavy industry can be compatible with both the natural environment and the activities of local communities.
Our ability to operate in environmentally sensitive areas is also reflected by the award of more than 10 blue flags by the Hellenic Society for the Protection of Nature (representing Greece in the International Foundation for Environmental Education) every year since 2008 to beaches and marinas in the areas surrounding the Prinos basin.
Environmental Key Performance Indicators regularly monitored include:
- Annual Greenhouse gas emissions
- Direct/indirect emissions intensity
- Global energy use
- Energy use intensity
- Water use intensity
- Waste quantities disposal