Hess Corporation Publishes 26th Annual Sustainability Report
20 Julho 2023 - 9:40AM
Business Wire
Key 2022 highlights:
- Committed to achieve net zero Scope 1 and 2 greenhouse gas
emissions by 2050
- Made significant progress toward aggressive 2025 emissions
reduction targets
- Announced one of the world’s largest private sector forest
preservation agreements
- Invested in social programs to make a positive social impact
in local communities
- Promoted a work environment based on diversity, equity and
inclusion
- Recognized as an industry leader in ESG performance and
disclosure
Hess Corporation (NYSE: HES) today announced publication of its
annual sustainability report, which provides a comprehensive review
of the company’s strategy and performance on environmental, social
and governance (ESG) programs and initiatives. Hess Corporation’s
2022 Sustainability Report is available on the company’s website at
www.hess.com/sustainability/sustainability-reports.
“In keeping with our company’s purpose to be the world’s most
trusted energy partner, we are focused on building a sustainable
enterprise that helps meet the world’s growing energy needs in a
safe, environmentally responsible, socially sensitive and
profitable way,” CEO John Hess said. “Our strategy is to grow our
resource base, deliver a low cost of supply and generate industry
leading cash flow growth. As we continue to execute our strategy,
our commitment to sustainability will remain a top priority
throughout our company.”
Hess Corporation’s 2022 Sustainability Report shows how
sustainable business practices are integrated into the company’s
strategy, goals, metrics and daily operations for the benefit of
all of its stakeholders. Highlights include:
- Aggressive greenhouse gas emissions reduction targets:
Hess supports the aim of the Paris Agreement and has made a
commitment to achieve net zero Scope 1 and 2 greenhouse gas
emissions on an equity basis by 2050. After significantly
outperforming its five year emissions reduction targets for 2020,
Hess set new five year reduction targets for 2025 – to reduce
operated Scope 1 and 2 greenhouse gas and methane emissions
intensities by approximately 50% from 2017 and to achieve zero
routine flaring from its operations. In 2022, Hess made significant
progress toward these five year targets. As part of its voluntary
commitments, the company is actively supporting industry efforts to
adopt methane measurement, reporting and verification protocols and
pursuing advancements in methane detection and measurement
technologies.
- Major forest preservation agreement with Government of
Guyana: In December 2022, Hess announced an agreement to
purchase high quality, independently verified REDD+ carbon credits
for a minimum of $750 million between 2022 and 2032 directly from
the government of Guyana. The government of Guyana plans to direct
15% of the proceeds to Indigenous communities. Saving the world’s
forests and the important role they play as natural carbon sinks is
foundational to the Paris Agreement’s aim of limiting the global
average temperature rise to well below 2°C and is one of the major
commitments made at the COP26 climate summit, where more than 130
countries including Guyana pledged to end deforestation by
2030.
- Workforce safety engagement: The safety performance of
contractors, who represent approximately 70% of total workforce
hours on Hess sites, is critical to the achievement of Hess’ safety
goals. To address an increase in occupational safety incidents and
releases in its Bakken operations in 2022, Hess is collaborating
with its contractors to deploy safety improvement plans and has
accelerated implementation of advanced release detection
technology. Hess also is working with contractors to screen
emerging technologies and conduct pilot trials to further support
safety processes and goals. In 2022, Hess’ Malaysian operations,
with over 1,000 employees and contractors, safely completed two
major platform turnarounds with zero loss time or recordable
incidents over 1.8 million work hours.
- Community investments that make a positive, lasting
impact: During 2022, Hess invested more than $20 million in
social programs with a primary focus on education, healthcare and
the environment. For example, Hess and the government of Guyana
launched a national healthcare initiative in collaboration with the
Mount Sinai Health System. The company announced a new
apprenticeship program with the North Dakota Tribal College System
to improve educational and employment opportunities for Native
Americans across North Dakota. In Houston, Hess provided
educational programs and support services through its Learning for
Life Partnership that benefit 22 schools in three underserved
communities.
- Advancing diversity, equity and inclusion: Hess has a
longstanding commitment to diversity, equity and inclusion (DEI) in
its workplace as well as in the communities where it operates. In
2022, the company continued to advance DEI in recruitment, career
development, succession planning and benefit offerings. In the
U.S., Hess performs a pay equity evaluation process based on gender
and race; the results of the 2022 analysis are included in this
year’s sustainability report.
- Sustaining top quartile ESG performance: In 2022, Hess
earned a place on the Dow Jones Sustainability Index for North
America for the 13th consecutive year and for the first time was
included in the Dow Jones Sustainability World Index. The company
achieved leadership status in CDP’s annual Global Climate Analysis
for the 14th consecutive year and once again received a AAA rating
in the MSCI ESG rating assessment. The Transition Pathway
Initiative, which independently assesses companies on their efforts
to support the transition to a low carbon economy and mitigate
climate change in line with recommendations from the Task Force on
Climate-Related Financial Disclosures (TCFD), rated Hess as Level 4
status in its 2022 report, which is the highest level awarded to
companies that demonstrably manage climate related risks and
opportunities from a governance, operational and strategic
perspective. For the third consecutive year, Hess earned a place on
the 2022 Bloomberg Gender-Equality Index (GEI). The company also
achieved a top score of 100% on the Human Rights Campaign’s (HRC)
Corporate Equality Index for 2022 and earned the designation as one
of the Best Places to Work for LGBTQ+ Equality.
Hess Corporation’s 2022 Sustainability Report was prepared in
accordance with the Global Reporting Initiative (GRI) Standards, an
independent organization that provides the world’s most widely
recognized sustainability reporting and disclosure standards, and
aligns with oil and gas industry metrics from the Sustainability
Accounting Standards Board (SASB) and TCFD recommendations. The
report has been third-party assured by ERM Certification and
Verification Services.
Hess Corporation is a leading global independent energy company
engaged in the exploration and production of crude oil and natural
gas. More information on the company is available at
www.hess.com.
Cautionary Statements
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Words such as “anticipate,” “estimate,” “expect,” “forecast,”
“guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,”
“project,” “plan,” “predict,” “will,” “target” and similar
expressions identify forward-looking statements, which are not
historical in nature. Our forward-looking statements may include,
without limitation: information about sustainability goals and
targets and planned social, safety and environmental policies,
programs and initiatives; our future financial and operational
results; our business strategy; estimates of our crude oil and
natural gas reserves and levels of production; benchmark prices of
crude oil, natural gas liquids and natural gas and our associated
realized price differentials; our projected budget and capital and
exploratory expenditures; expected timing and completion of our
development projects; and future economic and market conditions in
the oil and gas industry.
Forward-looking statements are based on our current
understanding, assessments, estimates and projections of relevant
factors and reasonable assumptions about the future.
Forward-looking statements are subject to certain known and unknown
risks and uncertainties that could cause actual results to differ
materially from our historical experience and our current
projections or expectations of future results expressed or implied
by these forward-looking statements. The following important
factors could cause actual results to differ materially from those
in our forward- looking statements: fluctuations in market prices
of crude oil, natural gas liquids and natural gas and competition
in the oil and gas exploration and production industry; reduced
demand for our products, including due to perceptions regarding the
oil and gas industry, competing or alternative energy products and
political conditions and events; potential failures or delays in
increasing oil and gas reserves, including as a result of
unsuccessful exploration activity, drilling risks and unforeseen
reservoir conditions, and in achieving expected production levels;
changes in tax, property, contract and other laws, regulations and
governmental actions applicable to our business, including
legislative and regulatory initiatives regarding environmental
concerns, such as measures to limit greenhouse gas emissions and
flaring, fracking bans as well as restrictions on oil and gas
leases; operational changes and expenditures due to climate change
and sustainability related initiatives; disruption or interruption
of our operations due to catastrophic and other events, such as
accidents, severe weather, geological events, shortages of skilled
labor, cyber-attacks, public health measures or climate change; the
ability of our contractual counterparties to satisfy their
obligations to us, including the operation of joint ventures under
which we may not control and exposure to decommissioning
liabilities for divested assets in the event the current or future
owners are unable to perform; unexpected changes in technical
requirements for constructing, modifying or operating exploration
and production facilities and/or the inability to timely obtain or
maintain necessary permits; availability and costs of employees and
other personnel, drilling rigs, equipment, supplies and other
required services; any limitations on our access to capital or
increase in our cost of capital, including as a result of
limitations on investment in oil and gas activities, rising
interest rates or negative outcomes within commodity and financial
markets; liability resulting from environmental obligations and
litigation, including heightened risks associated with being a
general partner of Hess Midstream LP; and other factors described
in Item 1A—Risk Factors in our Annual Report on Form 10-K and any
additional risks described in our other filings with the Securities
and Exchange Commission.
As and when made, we believe that our forward-looking statements
are reasonable. However, given these risks and uncertainties,
caution should be taken not to place undue reliance on any such
forward-looking statements since such statements speak only as of
the date when made and there can be no assurance that such
forward-looking statements will occur and actual results may differ
materially from those contained in any forward-looking statement we
make. Except as required by law, we undertake no obligation to
publicly update or revise any forward-looking statements, whether
because of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230719212972/en/
Investor Contact: Jay Wilson (212) 536-8940
jrwilson@hess.com
Media Contact: Lorrie Hecker (212) 536-8250
lhecker@hess.com
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