World Environment Day

World Environment Day – Energean remains committed to a sustainable pathway

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This World Environment Day we proudly celebrate our progress in contributing to a healthier planet.

 

As we demonstrated in our recently published Sustainability Report, we have made significant strides in reducing both our absolute and intensity-based emissions. We have been particularly successful in reducing air pollutants through enabling coal and fuel oil to gas switching in Israel & Egypt. We have continued to expand the share of natural gas in our product portfolio, taking substantial measures to minimise our environmental footprint.

 

Since 2020, we have incorporated carbon pricing into our investment decision-making process to tackle climate change, ensuring that we consider our operations' environmental impacts and associated costs. Our commitment to zero routine-flaring remains unwavering across our entire portfolio. By eliminating routine flaring, we reduce greenhouse gas emissions and prevent the release of harmful pollutants into the atmosphere.

We recognise that there is still work to be done, however, we are confident that our dedication to reducing emissions is evident in our achievements. This year, compared with 2021, we have achieved a 12.5% decrease in Scope 1 emissions, including direct emissions from our operations. Additionally, we have achieved a 5.9% decrease in Scope 2 emissions, which covers indirect emissions from purchasing electricity. These reductions demonstrate our continuous efforts to improve our environmental performance.

We're also proud of the progress we are making to substantially decrease our carbon intensity compared to our baseline year, 2019. With a 76.6% decrease in carbon intensity, we have made significant strides toward reducing our carbon footprint. This progress reflects our commitment to sustainable practices and the integration of cleaner energy sources into our operations.

At Energean, we recognize the importance of natural gas as a cleaner alternative to more polluting fuels, and we are proud to have grown our product portfolio's share of natural gas. In 2022, the proportion of natural gas within our portfolio increased to 76.3%, up from 73.5% in 2021. This growth signifies our commitment to providing sustainable energy solutions to meet the increasing global demand for cleaner fuel sources.

To minimise our environmental footprint, we have implemented rigorous environmental management standards. All our assets are certified according to the Environmental Management Standard ISO 14001, ensuring that our operations align with the highest ecological standards. This certification reflects our commitment to responsible and sustainable practices throughout our operations.

Our efforts to reduce non-renewable energy consumption have also yielded positive results. In 2022, we achieved a 24.2% reduction in non-renewable energy consumption, demonstrating our dedication to transitioning to more sustainable energy sources. By reducing our reliance on non-renewable energy, we actively contribute to mitigating climate change and preserving valuable resources.

We are equally committed to waste management and recycling initiatives – something that chimes with this year’s World Environment Day theme. In 2022, we recorded an impressive 95.2% in the percentage of recycled waste, up from 90.5% in 2021. This significant improvement illustrates our commitment to minimizing waste and promoting a circular economy. Moreover, we have made substantial progress in water conservation, whereby 99.8% of water withdrawals in production sites were recycled and reused. By maximizing water efficiency, we contribute to the sustainable management of this precious resource.

As we reflect on the progress we are making this World Environment Day, we acknowledge that more needs to be done. We remain steadfast in our commitment to reducing our environmental impact, promoting sustainable practices, and collaborating with stakeholders to protect our planet. By integrating environmental considerations into our decision-making, growing the share of natural gas in our portfolio, and implementing measures to minimize our environmental footprint, Energean is actively contributing to a healthier and more sustainable future.

On this World Environment Day, we can all commit to make a meaningful difference and create an environmentally responsible and sustainable world.