Sustainability, the communities in which we operate, and governance matter deeply to us and are interwoven into our balanced business strategy. We do the right things in the right way. We are clear and confident about what ESG (environmental, social and corporate governance) means for us. It regulates our social license to operate.
As we move into our industry’s new era, we recognise that oil and gas will continue to play an important part of the long-term energy mix to meet the UK’s energy demands, as we navigate the energy transition. We’re responding to the challenge by harnessing our deep engineering and environmental expertise to take action. Our Environmental Stewardship (ES) process identifies and addresses the environmental impact of all aspects of our operations, driving continuous improvement in environmental performance and reducing our environmental impact.
Our aim is not just to meet government carbon emission targets, we’ve set our own. By 2025, we aim to have cut our emissions by 25% across our operated assets. In the medium-term we will transition our portfolio to one of the lowest carbon emission portfolios in the UK North Sea, by investing in lower-emission intensity assets. We have an ambitious target of achieving Net Zero by 2040, ten years ahead of the North Sea Transition Deal Commitments.
We are passionate about giving back and care about creating shared value for our people, shareholders and communities large and small, today and tomorrow.
Ithaca Energy has adopted the United Nations’ Sustainable Development Goals, responding to the call for action by all countries to promote prosperity while protecting the planet. The Sustainable development goals (SDGs) that we believe we have an ability to influence have been embedded into our company strategy with clear ambitions and targets identified.
Our number one priority is always safety. We are committed to achieving excellence in Health, Safety and Environment (HSE) performance across all of our operations. We consider HSE performance and the health, safety and security of those who work for, with and alongside us as central to our business success.
We are dedicated to bettering our world where we can. Our goal is not just to meet UK Government carbon emission targets, but to better them. That’s why we’ve committed to targeting a 25% emissions reduction by 2025. We aim to have one of the lowest carbon emission portfolios in the UK North Sea, with a target of achieving net zero by 2040.
We believe in giving back. We are committed to supporting local charities, partnering with Voluntary Service Aberdeen to help our local community in key areas such as mental health and social care. We support the development of UK talent through Science, Technology, Engineering and Maths (STEM) initiatives and technical apprenticeship programmes.
Our experienced board of directors are committed to the highest standards of corporate governance and to maintaining a sound framework for the control and management of the company. We operate a compliant, sustainable business that generates financial value in an environmentally viable way. Our governing principles mandate how we protect the value of our assets, at all times, on behalf of our shareholders. Our strategy is aligned to the UN’s sustainable development goals putting transparency and equality at the core of our business. Our governing principles direct how we manage our people, working in a fair and responsible manner. And we demand the same of our partners and suppliers.