Athabasca Oil Corporation's Approach to Sustainability
We have a longstanding commitment to Environmental, Social and Governance (ESG) initiatives and we are proud of the work we do to take care of the environment and the communities where we operate.
In May 2021, we published our first report that formalizes our ESG data and is the culmination of years of tracking, progress and results. We have also outlined our future goals. An example is our reduction in GHG emission intensity by 20% since 2015 with a target of 30% reduction by 2025.
Looking ahead, we will continue to focus on reducing our GHG emissions and environmental footprint through the use of innovative technology. We will also continue to strengthen our stakeholder and community relationships. We are very proud of our ESG accomplishments and the future goals we have set.
Reporting Approach and ESG Governance
This report contains ESG information we consider most relevant to our business and our stakeholders. We have focused on ESG components that we believe have the potential to significantly impact our operations, financial results, and are particularly relevant to Athabasca's stakeholders. ESG is fully integrated into our business and is a governance priority.
Our ESG strategy and performance is reviewed, considered, and fully integrated at Board level. Our management team and Board are committed to incorporating ESG considerations and the application of technology in all our capital allocation decisions. Additionally, ESG metrics and goals are included in the Company’s annual compensation scorecard.
Material ESG metrics from Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) were identified and selected based on relevance to our business. In addition, the report was influenced by the TCFD reporting and we intend to incorporate additional climate disclosure that aligns to TCFD in the future reporting.