Environmental, Social & Governance Report 2020
ESG REPORT
Our ESG Story
We are embedding ESG considerations across our business, including through our strategy of alignment with regulatory and industry efforts to decarbonise UK Continental Shelf (UKCS) upstream operations.
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We are focussed on reducing operational GHG emissions wherever economically, commercially and logistically feasible. In 2020, an ESG Committee of the Board was established to provide oversight of our ESG strategy and activity programme.
We are also enhancing the breadth and transparency
of the information we provide, including reporting for the first time on the recommendations of the Task Force on Climate- related Financial Disclosures.
82%
local suppliers
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Increased | |
health and safety | |
measures for | |
employees during | |
the COVID-19 | |
pandemic |
E | 45% | |
of waste generated on | ||
the FPSO reused, recycled | ||
or recovered | GHG | |
41.2kg/bbl | ||
GHG emissions | ||
Significant reductions | ||
in production | ||
chemical usage | ||
Alignment with | ||
OGUK Net Zero | ||
57% - 43% | ||
workforce split | ||
male - female |
94%
of invoices paid within 30 days
Established an ESG
Committee of the Board
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Continued partnerships | of our people received | ||
with regulators, industry | anti-bribery training | ||
and government | |||
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REPORT ESG
Targeting UKCS Net Zero GHG Emissions by 2050
The revised Oil & Gas Authority (OGA) strategy, which came into force in February 2021, reflects the ongoing global energy transition and requires the industry to operate in a way that is consistent with the ambition of a net zero basin1.
We are committed to working closely with the government and the OGA to achieve decarbonisation and to align our operations with the UK Oil & Gas sector's 'Pathway to
net zero'. This includes working towards reducing our emissions and enhancing our reporting
on climate change.
2020: Industry consultation
Industry consultations with the OGA on a net zero basin by 2050
2021: North Sea Transition Deal
Collaboration with the government on how the industry can reduce GHG emissions, develop carbon capture, utilisation and storage solutions (CCUS), diversify into new energies, develop hydrogen production and safeguard existing jobs and create new opportunities for jobs and the economy2
2025: Cross-Industry Synergy
OGA vision to have two greenfield electrification projects sanctioned in West of Shetland by 2025
Deployment of carbon capture, utilisation and storage technologies (CCUS)2
2030: 50% absolute basin GHG reduction on UKCS operations3
World Bank's Zero Routine Flaring Target by 2030
2040: 90% absolute GHG reduction on UKCS operations3
2050: Achieve net zero basin3
UK Oil & Gas Sector at a glance2
145k | 10-20 billion | ||
jobs in oil | barrels of oil | ||
and gas (O&G) | remaining in the | ||
in the UK | Continental Shelf |
19MtCO2e | 4% |
GHG emissions | of UK GHG |
in 2020, to | emissions |
be reduced | attributed to UKCS |
to O.5MtCO2e | O&G production |
by 2050 |
- The net zero basin target refers to the UKCS upstream operations within Scope 1 and Scope 2.
- https://www.gov.uk/government/publications/energy-white-paper-powering-our-net-zero-future
- Based on the 2018 baseline measurement; https://www.ogauthority.co.uk/media/6625/ukcs_energy_integration_phase-ii_report_website-version-final.pdf
ESG Report 2020 | 1 |
ESG REPORT
Introduction
About This Report
Welcome to Hurricane's 2020 Environmental, Social and Governance (ESG) Report. It covers our ESG strategy and performance across our operations relating to our key material topics. We have prepared the report in accordance with the Global Reporting Initiative (GRI) Standards, and it is approved by the Board of Directors before publication.
Reporting standards
Our reporting follows global standards to ensure robustness. We have chosen to follow the GRI reporting guidance as it is a broad and well-recognised framework. We also considered industry-specific guidance from IPIECA, the Sustainability Accounting Standards Board (SASB) and the best-practice reporting of peers.
Scope and boundaries
We report on assets and activities over which we had control in terms of ESG policies and practices in the period 1 January to 31 December 2020. This covers our offshore operations on the UK Continental Shelf (UKCS) and our UK offices in Surrey and Aberdeen. Read more about these boundaries on pages 13 to 15.
Data
Our ESG data is provided throughout this report and summarised in the Appendix on pages 58 to 64.
External initiatives
This report meets the Core option of the GRI Standards. It also demonstrates how we apply governance, risk management and strategy processes to manage climate-related financial risks in line with the Task Force on Climate-related Financial Disclosures (TCFD) approved guidance on 'limited disclosures' provided by Accounting for Sustainability (A4S). We support the ambitions of the United Nations Sustainable Development Goals (SDGs). Should we deem it appropriate for the business, the Company will seek to embed the goals into our operations in the future.
We are signatories to Oil & Gas UK (OGUK)'s voluntary Commercial Code of Practice (CCOP) and Infrastructure Code of Practice (ICOP), and we adhere to the Supply Chain Code of Practice (SCCOP).
2 Hurricane Energy plc
REPORT ESG
Contents
Introduction
2 About This Report
- Our Licences and Assets
- Letter from the CEO
- Managing Risk
- Reporting on Climate Change
12 Working with Our Stakeholders and
Materiality
15 Materiality Matrix
Governance
- Our Approach to Governance
- Business Ethics, Transparency and Regulatory Compliance
- Business Resilience
- Responsible Supply Chains
Environment
- Our Approach to the Environment
-
Preventing and Preparing for Major
Accidents - Managing the Implications of Climate Change
- Responsible Resource Management
- Protecting Biodiversity
People and Society
- Our Approach to People and Society
- Occupational Health and Safety
34 Our People
36 Engaging with Our Communities
Appendices and Glossary
- GRI Content Index
- Data Tables
- Glossary
ESG Report 2020 | 3 |
Attachments
- Original document
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Disclaimer
Hurricane Energy plc published this content on 22 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2021 08:44:08 UTC.