CALGARY, AB – Enerplus Corporation (“Enerplus”, or the “Company”) (TSX: ERF & NYSE: ERF) today announced the release of its 2021 ESG report, which provides an update on the Company’s progress relative to its environmental, social and governance (“ESG”) initiatives. Enerplus continues to prioritize ESG focus areas that have the greatest financial impact, or which are operationally important to the organization in reducing risk, enhancing long-term business resilience and profitability, and supporting access to capital. Enerplus’ board of directors continues to be actively engaged in the Company’s approach to managing ESG issues under a governance framework that provides clear oversight and accountability. The 2021 ESG report is available on Enerplus’ website at www.enerplus.com.
Highlights of the 2021 ESG report are provided below.
HEALTH AND SAFETY
- Achieved the best safety performance in the Company’s history in 2020, improving lost time injury frequency (“LTIF”) by 67% compared to 2019
- Continued focus on keeping employees safe with an ongoing goal of collaborating with employees and peers on safety learnings and to reduce LTIF by 25%, on average, from 2020 to 2023, relative to 2019
GREENHOUSE GAS EMISSIONS MANAGEMENT (1)
- Reduced greenhouse gas (“GHG”) emissions intensity by 24% in 2020 compared to 2019, through innovation and operational efficiencies
- Introduced a methane emissions intensity reduction target of 20% by the end of 2022, relative to the 2019 baseline
- Continuing to evolve emission reduction strategies in pursuit of the Company’s 2030 GHG emissions intensity reduction target of 50%
Enerplus’ GHG emissions reduction targets address scope 1 and 2 emissions, relative to the 2019 baseline.
- Reduced freshwater use per well completion in North Dakota by 23% in 2020 compared to 2019, by recycling produced formation water in several well fracturing operations, displacing the need for freshwater
- Targeting a 25% reduction in freshwater use per well completion in 2021, on average compared to 2019, in the Company’s Fort Berthold operations
- Continuing to target a 50% reduction in freshwater use per well completion corporately by 2025, compared to the 2019 baseline
The Company’s ESG performance continues to be integrated into all aspects of its business, as evidenced by its Sustainability-Linked Credit Facility announced on April 29th, 2021. In addition to this, Enerplus continues to establish goals and objectives across its ESG focus areas which are discussed in detail within the report. Enerplus also expanded its ESG focus areas beyond those known to be “material” focus areas, incorporating “emerging” issues, which have the potential to be material to the organization.
Enerplus’ report continues to be prepared in accordance with the Sustainability Accounting Standards Board (SASB), Global Reporting Initiatives (GRI) disclosure frameworks and the International Petroleum Industry Environmental Conservation Association’s (IPIECA) Oil and gas industry guidance on voluntary sustainability reporting. The 2021 ESG report also includes additional disclosures in alignment with the Task Force on Climate-Related Financial Disclosures (TCFD) recommended guidelines.