CALGARY, AB – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) is pleased to announce that it has achieved certification under the EO100™ Standard for Responsible Energy Development (2017) from Equitable Origin for three of its natural gas production sites in west-central Alberta: Granada, Eta Lake and Carrot Creek.
Vermilion is the third producer of natural gas in Canada to have achieved this rigorous certification, which is based on an independent assessment of performance targets within five Environment, Social and Governance-related (ESG) principles: corporate governance, transparency and ethics; human rights, social impact and community development; Indigenous People’s rights; fair labor and working conditions; and climate change, biodiversity and environment.
“This significant achievement demonstrates our continued commitment to the ESG leadership we have established over the past decade, and helps achieve our goal of providing responsibly produced natural gas to the market,” said Curtis Hicks, President. “As the energy transition progresses, we believe it is essential to demonstrate verified excellence in the environmental and social conditions under which energy has been produced, including natural gas. Independent and stringent certifications such as Equitable Origin provide an important signal about operational quality to stakeholders such as our investors, governments and communities.”
Through its site certification program, Equitable Origin provides credible, independent recognition to energy developers that lead their sector in social and environmental performance. Certification for Vermilion’s sites included an independent third-party assessment conducted in June and July 2021, covering a policies and procedures review, in-person field visits, interviews with workers, contractors and management, and meetings with Indigenous leaders, to verify performance.
“In addition to meeting the standard for certification, which includes a commitment to continuous improvement, Vermilion demonstrated leading practices in several areas, including good faith consultation, land rights, community health and safety, and sustainable community investment,” said Soledad Mills, Chief Executive Officer of Equitable Origin.
Under Vermilion’s first certified natural gas transaction, a portion has been committed to supply a natural gas distributor through Macquarie Energy Canada Ltd., a wholly owned subsidiary of Macquarie Group. This transaction is the result of extensive collaboration between Vermilion and the counterparties, along with Validere and Xpansiv, the global marketplace for ESG commodities, which provides the registry that ensures trust through data transparency. All of our partners share a vision to transition toward a lower-carbon economy.