Another plus for ARX, ESG ratingScotia did a write up of ESG ratings in their coverage universe. Very positive comments about ARX.
"Accomplishments & Current Initiatives
Prior to the merger with Seven Generations Energy Ltd. (“VII”), ARX targeted a 20% reduction to GHG emissions intensity from 2019 levels by 2025. Between 2017 and 2019, ARX reduced emissions intensity by 47%. We expect the combined company to rank as the lowest carbon intensity oil-weighted producer in our Canadian coverage universe.
ARX was awarded an “A-“ score on climate change by CDP and awarded an “AAA” MSCI ESG rating.
Prior to the merger, VII signed two responsible gas supply arrangements under the EO100™ framework.
Prior to the merger, ARX recycled ~90% of the water it produced and minimized freshwater use in operations.
With the merger, ARX’s board of directors has >35% female membership – ahead of the previous target of >30%."