CALGARY, Alberta, Aug. 23, 2021 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce the release of our 2020 Environmental, Social, and Governance (“ESG”) Report.
This report, available for viewing on NuVista’s website, highlights our ESG performance through 2019 and 2020. We are proud to share the progress we’ve made on advancing our ESG priorities.
2020 ESG Highlights include:
- Over 50% reduction in annual Greenhouse Gas Emissions Intensity (Scope 1) from 2012 to 2020;
- Continued our commitment to responsibly abandoning and reclaiming inactive wells and facilities in 2020 by investing over $11 million in abandonment and reclamation work;
- Developed a cultural awareness program for staff centred on education to create understanding, respect, and appreciation for Indigenous cultures; and
- Established a Board ESG Committee with oversight of climate, safety and ESG-related risks and opportunities.
The report also outlines targets in all three areas of ESG in order to guide our continued progress. The full list of targets is available in the report and includes:
- Further reduction in annual Greenhouse Gas Emissions Intensity with a commitment to reduce Scope 1 + 2 emissions intensity by 20% by 2025 from 2020 baseline;
- A 40% reduction in fresh water use intensity by 2025 from 2018 baseline;
- Commitment to reducing NuVista’s methane emissions intensity by 45% relative to both government benchmark years of 2012 and 2014, by 2025; and
- Continued emphasis on diversity with a commitment of 30% female representation at the board of directors level by 2025.
We believe this report illustrates NuVista’s continuing commitment to the environmentally responsible production of energy in Alberta. To view NuVista’s full ESG report, please visit our website at http://www.nuvistaenergy.com/esg-commitment.