CALGARY, Alberta – Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) is pleased to release its inaugural ESG Report. This announcement is the culmination of more than 14 months of effort to develop an ESG framework and strategy before producing and finalizing our inaugural report. We have defined the top material ESG risks and opportunities to be prioritized over the coming months, and have made a number of commitments the Company will focus on delivering.
- Achieving net-zero emissions by 2050, with plans to use carbon sequestration and other technologies, as part of the global transition to a low-carbon energy economy;
- Growing and honouring relationships with the Indigenous Peoples of Canada based on the principles of trust, mutual respect, fairness, openness, transparency and reconciliation;
- Being a good neighbour through constructive community and stakeholder engagement and support in the communities where we live and operate;
- Meeting our Path to Zero goals for Health, Safety and Environment, progressing safety competence, safeguarding our culture and upholding our reputation for compliance; and
- Building a diverse culture and workplace through a strong and sustainable governance framework.
“A commitment to ESG has been a big part of Pieridae Energy throughout our history,” said Pieridae’s Chief Executive Officer Alfred Sorensen. “It wasn’t always called ESG, of course, but we have consistently built respectful relationships with Indigenous Peoples, communities and other stakeholders as well as focusing on meeting and exceeding environmental regulatory and governance standards. It’s been that way from the beginning of this company, shaped by a strong framework of responsible governance.”
The Company has recently formalized a solid ESG foundation, including the formation of a new Board committee to oversee ESG and governance, establishing a senior management framework to bring ESG strategy and reporting to the next level, and completing a current state assessment and strategic roadmap, all enveloped in an ESG vision statement that will help guide us in the months and years to come.
“Pieridae’s commitment to ESG by focusing on reducing green house gas emissions, advancing Indigenous relations and employment, and increasing diversity on its Board and executive team all contribute to increasing our performance and stakeholder value at this important time for the Company, our province and country.” said the Chair of Pieridae’s newly formed Governance and ESG Committee Ms. Kiren Singh.
The Company’s vision is to provide the energy to fuel people’s lives while supporting the environment and the transition to a lower carbon world. We will strive to achieve this vision while demonstrating a meaningful commitment to environmental sustainability. The Company will also continue to build trust and respect inside and outside the organization through mutually beneficial relationships, with the hope that the Pieridae ESG culture will be an example to others in the energy sector.
Please visit our website at pieridaeenergy.com to learn more about our ESG responsibility.