The Company’s 2020 Sustainability Report covers its first full calendar year of operations, during which: Topaz established its executive team and ESG and sustainability practices; expanded its board of directors; completed an initial public offering; listed its shares on the TSX; and demonstrated its acquisition strategy which is focused on high quality, growth assets and top tier operators. The report shows how Topaz invests and evaluates its partners, in order to generate solid risk-adjusted financial returns, and verifies Topaz as a high quality, low-emissions royalty and infrastructure energy investment. Topaz looks forward to expanding its ESG disclosure in the future as the Company continues to advance beyond its formative year.
Highlights of the report include:
- Focus on lower emissions energy investment underpinned by:
- gross overriding royalties – while Topaz is not exposed to future capital costs, associated emissions or abandonment obligations, partners and plays are thoughtfully selected on the basis of integrated economic and environmental sustainability; and
- non-operated ownership interests in new, state of the art natural gas processing facilities and certain water management infrastructure that together produce very low emissions.
- For Topaz, our strategic partnerships with high-quality operators attentive to environmental stewardship and performance enhance our long-term value. Tourmaline, Topaz’s key partner exemplifies this by setting aggressive emissions reduction targets, investing in multiple environmental/economic-enhancing technologies, water-recycling and community involvement all of which is backstopped by top-quartile base economics.
- Senior executive team and staff each with 50 per cent women
- Established relationships with several organizations focused on (i) promoting healthier and more sustainable communities, (ii) supporting educational opportunities and (iii) fostering employee engagement in the community
- Established a culture of accountability and alignment with executive compensation tied to comprehensive elements of financial and strategic performance alongside ESG integration to ensure strong shareholder and stakeholder alignment
- Robust corporate governance policies including a focus on independence and oversight of related party transactions
- High scoring on corporate governance self-assessment (based upon the Globe and Mail “Board Games” scorecard)
- Achieved a goal of at least 30% women independent directors in 2020
- Disclosure aligned with the Sustainability Accounting Standards Board (SASB) which recently completed its merger with IIRC to form the Value Reporting Foundation and the Task Force on Climate- Related Financial Disclosures (TCFD) and includes our ownership interest share of carbon emissions data related to our infrastructure assets.
Additional information about Topaz, including the financial statements and management’s discussion and analysis for the three and six months ended June 30, 2021 as well as the Company’s 2020 Annual Information Form are available electronically under the Company’s profile on SEDAR, www.sedar.com, and on Topaz’s website, www.topazenergy.ca.