LONDON, UK: IOG plc, the UK gas company targeting growth and high returns via an infrastructure-led hub strategy, announced its completion of a comprehensive Emissions Assessment (EA), undertaken by its internal Environmental, Social and Governance (ESG) Taskforce in collaboration with Genesis.
On the basis of the EA the Company has committed to Scope 1 & 2 Net Zero status as of 2021.
Andrew Hockey, CEO of IOG, commented: “As our industry transforms in light of climate challenges, IOG’s ambition remains constant: to be a safe, efficient and low-carbon developer and producer of high-value gas. We know how important it is to all our stakeholders that IOG’s contribution to UK gas supply is consistent with a successful UK energy transition and the Paris Accord objectives. That is why we have committed to Scope 1 and 2 Net Zero, not as a future pledge but starting right now in 2021.
In our 2020 Climate Change and Sustainability policy we committed to a detailed Emissions Assessment as our primary ESG objective for 2021 and I’m pleased that it confirms our very low carbon intensity operating model. Maximising the value of domestic energy resources with this Net Zero policy makes IOG a leading exponent of the OGA’s revised strategy, which should be an important differentiator as we look to scale up the business.”
Christophe Malaurie, Senior Vice President at Genesis, said: “Genesis has been extremely pleased to work with IOG to help bring practical implementation of their ESG commitments. Genesis’ mission is to be a trusted adviser to its clients to help accelerate the journey towards a more sustainable future and it is especially heartening to have our class leading environment, technical and commercial skills utilised by IOG as an integral part of their low carbon journey”.
IOG PLC share price
21.50 GBX+0.25 (1.18%)today
3 Aug, 4:16 pm GMT+1 ·Disclaimer