A word from the CEO on the transition to Green Energy Predictions differ about the precise manner and pace of the energy transition. Nonetheless, our own scenario analyses make it clear that Vermilion can best contribute by focusing on producing energy safely and responsibly – and also reliably and cost-effectively. We are already deploying our strategic oil and gas resources in the service of the energy transition and, indeed, the even more fundamental framework for our planet’s health and wellbeing represented by the United Nations Sustainable Development Goals (SDGs). I want to relate a few examples of how we are successfully achieving this dual aim of serving both the energy transition and the SDGs.
We are expanding our development of geothermal-related energy, actively working with community partners to leverage traditional oil and gas assets not only for environmental benefits, but for social benefits as well. In France, we are providing heat from the produced water in our oil operations to develop sustainable agriculture and residential projects. Our first energy-recycling sustainability project, launched more than 10 years ago, jump-started a new tomato industry in a region underserved by capital investment. Our energy-reclaiming community-building projects – one underway and one in the planning process – specifically target economic inclusivity in the form of social housing: 30% of residences in the first project, and all residences in the new one, are reserved for those with lower incomes. In the Netherlands, we are continuing to develop a project to convert depleted gas wells to geothermal assets, supplying energy to a sustainable and scalable agriculture center.
These partnerships simultaneously reduce carbon emissions, contribute to community development, and support co-industries that should endure even after the energy transition is complete. We are proud to be a central contributor to these economic and social success stories, which positively impact several interconnected SDGs: SDG 7 on Affordable and Clean Energy, SDG 8 on Decent Work and Economic Growth, SDG 10 on Industry, Innovation and Infrastructure, and SDG 13 on Climate Change.
At the same time, we are focused on developing our oil and gas assets in North America, Europe and Australia with simultaneously positive economic and environmental impacts, by applying our expertise in mature field renewal. As an example, after we purchased the assets of a private company in southeast Saskatchewan in 2014, we spent the next two years collaborating with industry partners to capture previously flared or vented natural gas. The result was a 75% reduction in emissions at these locations between 2014 and 2016. We are now using the same best-in-class approach on an even larger scale to reduce emissions from additional Saskatchewan assets that we acquired as part of our merger with Spartan Energy in 2018.
These are examples of the content throughout this report, in which we have noted the projects and programs that are reducing our emissions while providing more energy to the world’s growing and increasingly prosperous population. We are very happy that for a third consecutive year, we have reduced absolute emissions while still increasing energy production.
LINK
https://sustainability.vermilionenergy.com/ourapproach/about/message-from-our-chief-executive-officer.cfm