Expro Group Holdings N.V. (NYSE: XPRO) (the “Company” or “Expro today announced the publication of its 2022 Environmental, Social and Governance (ESG) Report, which provides detail on Expro’s achievements in 2022 and progress toward its near- and long-term ESG objectives. The report can be viewed and downloaded on the Company's website https://www.expro.com/2022-sustainability-review.
“At Expro, we take seriously our responsibilities as a Citizen of the World and recognize the important role our company plays in enabling a transition to a lower carbon future,” said Mike Jardon, Chief Executive Officer of Expro. “In 2022, we took significant steps to reach net zero carbon emissions by 2050. As we continue to strengthen our own sustainability practices and performance, we remain focused on anticipating our customers’ needs of tomorrow and engineering a better future for all.”
“The policies, initiatives and objectives outlined in our second annual ESG report demonstrate that change, no matter how small, makes a real difference,” said Karen David-Green, Chief Communications, Stakeholder & Sustainability Officer of Expro. “We have embraced ‘Our Planet’ as a core value across our organization and continued to shift our portfolio, enhance efficiency and engage supply chain partners to achieve our sustainability objectives. As always, we remain focused on supporting our clients and fostering a culture that emphasizes safety, diversity and inclusion to empower our employees to create positive change at Expro and in our communities.”
The 2022 ESG report highlights notable sustainability goals and performance including:
- Making Significant Progress on Expro’s Commitment to Net Zero Carbon Emissions: Expro has turned commitments into actions, playing a critical role in the energy industry’s transition to a lower carbon future. In 2022, Expro has continued to take meaningful action to advance and mature its approach to sustainability to reach its stated aims of achieving Net Zero by 2050, with a 50% reduction in carbon intensity by 2030. The Company achieved its objective of reducing Scope 1 and Scope 2 Greenhouse Gases Emissions by 4% in 2022 and expects to build on this progress in 2023.
- Developing the Next Generation of Sustainable Solutions: The energy industry’s transition is grounded in a technology revolution, and Expro remains at the forefront. In 2022, Expro advanced its commitment to developing lower carbon energy and helping address customers’ most complex sustainability challenges. The Company increased the percentage of its research and development spending allocated to carbon reduction innovations and efforts from 40% in 2021 to nearly 50% in 2022. Looking ahead, Expro plans to allocate 50-70% of its Technology budget to carbon reduction projects to further accelerate the energy transition.
- Celebrating Diversity as a Competitive Advantage: Expro recognizes the importance of diversity at work and the benefits diversity brings to the broader organization. The Company is focused on fostering an environment in which people feel valued for who they are, bring their whole selves to work and contribute fully. During 2022, Expro established a partnership with a provider of online learning materials, which will be embedded within the Company’s learning and development platforms to broaden learning opportunities for employees and reinforce the importance of diversity and inclusion in Expro’s culture.
- Driving Change Through Active Board Oversight of Business Practices: Expro’s Board of Directors is actively involved in the oversight of risks that could affect the Company and knows that honesty, transparency and accountability are at the core of the Company’s global citizenship. The Board’s commitment to ESG led to the Nominating and Governance Committee expanding its duties and changing its name to the ESG Committee in March 2022. The ESG Committee oversees initiatives including climate- and human-capital related risks, as well as Enterprise Risk Management, and the assessment of enterprise, fraud, strategic and cybersecurity risks.
- Receiving External Recognition of Sustainability Efforts: Expro is pleased to have again received external recognition from key organizations evaluating companies’ ESG programs. Leading ESG program evaluator MSCI upgraded Expro’s sustainability rating by two full levels from a BB to a single-A rating in 2022. The Company also received an upgrade from CDP, a not-for-profit group that runs a global disclosure system for investors, companies, cities, states and regions.
ABOUT EXPRO
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity.
With roots dating to 1938, Expro has more than 7,600 employees and provides services and solutions to leading energy companies in both onshore and offshore environments in approximately 60 countries.
For more information, please visit: www.expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
Forward Looking Statements
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the Company’s environmental, social and governance goals, targets and initiatives, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.
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