CALGARY, AB – Advantage Energy Ltd. (“Advantage” or the “Corporation”) is pleased to announce the publication of its 2021 Sustainability Report (the “Report”) which is available on our website at www.advantageog.com. The Report outlines key sustainability metrics and achievements to year-end 2020, as well as ongoing initiatives and targets.
Advantage has been focused on business sustainability since inception in 2001. We are proud to share the progress we’ve made on advancing our environmental, social and governance priorities.
Advantage is now targeting ‘net-zero’ Scope 1 and 2 emissions as early as 2025. We plan to achieve this target using our state-of-the-art carbon capture and storage (“CCS”) project at the Glacier Gas Plant and by developing further third-party CCS projects through Advantage’s subsidiary, Entropy Inc. (“Entropy”). Success in achieving net-zero on this timeline is predicated on functional CCS regulatory frameworks at both the federal and provincial levels.
Additional highlights from the Report include:
- Combined Scope 1 and 2 carbon emissions of 0.017 tCO2e/boe with insignificant fugitives, venting and flaring
- Reduced water usage with total water intensity of 0.01 m3/boe
- Proactive liability management as demonstrated by a Liability Management Rating (“LMR”) of 24.7
- Continued excellence in our health and safety programs whereby exceptional staff engagement and diligence has resulted in industry leading low incidents and injuries
- Establishment of an Indigenous Scholarship Program with implementation targeted by early 2022
- Established a new Governance Committee to augment focus on corporate governance, health, safety and environmental matters, corporate social responsibility, and sustainability matters