Advantage Energy releases 2021 sustainability report
2021-11-18 09:42 ET - News Release
Mr. Craig Blackwood reports
ADVANTAGE ANNOUNCES 2021 SUSTAINABILITY REPORT AND TARGETS NET-ZERO BY 2025
Advantage Energy Ltd. has published its 2021 sustainability report which is available on its website. The report outlines key sustainability metrics and achievements to year-end 2020, as well as continuing initiatives and targets.
Advantage has been focused on business sustainability since inception in 2001. It is proud to share the progress it has made on advancing its environmental, social and governance priorities.
Advantage is now targeting net-zero Scope 1 and 2 emissions as early as 2025. It plans to achieve this target using its state-of-the-art carbon capture and storage project at the Glacier gas plant and by developing further third party CCS projects through Advantage's subsidiary, Entropy Inc. Success in achieving net-zero on this timeline is predicated on functional CCS regulatory frameworks at both the federal and provincial levels.
Additional highlights from the report include:
- Combined Scope 1 and 2 carbon emissions of 0.017 tons CO2 emissions per barrel of oil with insignificant fugitives, venting and flaring;
- Reduced water usage with total water intensity of 0.01 m 3/boe;
- Proactive liability management as demonstrated by a liability management rating of 24.7;
- Continued excellence in its health and safety programs whereby exceptional staff engagement and diligence has resulted in industry-leading low incidents and injuries;
- Establishment of an indigenous scholarship program with implementation targeted by early 2022;
- Established a new governance committee to augment focus on corporate governance, health, safety and environmental matters, corporate social responsibility, and sustainability matters.
Looking forward
As the company advances its business strategy and sustainability objectives, it looks forward to reporting back to stakeholders on its achievements. Advantage appreciates the contributions and engagement of its staff and the support of its board of directors as the company is proud to improve the world with clean Canadian energy.
We seek Safe Harbor.
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