Crescent Point releases 2023 ESG report
By Brian Zinchuk
CALGARY – Crescent Point Energy Corp. announced on June 28 the release of its 2023 Sustainability Report “highlighting the company’s strong environmental, social and governance (ESG) performance,” the company said in a release.
“Crescent Point remains on track to achieve each of its environmental targets which are comprised of initiatives centered around reducing emissions, freshwater use and the number of inactive wells across its land base. Building upon these environmental targets, the company has also introduced new targets to further strengthen its commitment to safe operations and Indigenous engagement,” the company said.
PD Rig 195 north of Stoughton, working for Crescent Point on Aug. 20, 2018. Photo by Brian Zinchuk
“Our 2023 Sustainability Report showcases our strong performance and strategic approach in managing our ESG priorities,” said Craig Bryksa, president and CEO of Crescent Point. “We continue to lead by example, delivering on our purpose of ‘Bringing Energy To Our World – The Right Way’ by integrating ESG practices throughout our organization. Our position as a leader in the industry is also evident in our record safety scores and our continued success in meeting our ambitious environmental targets. Furthermore, our portfolio strategy and continued optimization of our asset base reflects our focus on high-quality resource plays with long-term sustainability.”
2022 Key highlights
Achieved safest year on record for both Serious Incident Frequency (SIF) and Total Recordable Injury Frequency (TRIF), demonstrating strong safety culture and active engagement with staff and contractors.
Achieved previous target to reduce scope 1 emissions intensity by 50 percent ahead of schedule and built upon this success by establishing new, more aggressive, emissions targets to reach a combined scope 1 & 2 emissions intensity of 0.024 tCO2e/boe by 2025 and 0.020 tCO2e/boe by 2030.
Established two new water targets to reduce surface freshwater use in the company’s southeast Saskatchewan completions by 50 percent by 2025 and to develop strategic water management plans for all major operating areas.
Safely decommissioned 240 inactive wells as part of target to reduce inactive well inventory by 30 percent by 2031.
Continued to dedicate three to five percent of annual maintenance capital to fund environmental stewardship initiatives.
Demonstrated ongoing commitment to diversity and inclusion through the company’s Women’s Leadership Network, expanded campus recruitment strategy and scholarship programs.
Donated $2.2 million to support more than 450 charitable organizations and community groups.
NEW ESG TARGETS
Established two new safety targets to promote safe work practices and strengthen support for mental health.
Enhanced Indigenous engagement and set new targets for Indigenous awareness training for all staff and Board members.
The full Report, including a downloadable PDF and data tables, is available on Crescent Point’s website at www.crescentpointenergy.com.