Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Essakane PV Plant reduced CO2 emissions by nearly 18,500 tons per year; registered with UNFCCC with 18,000 Certified CO2 Emission Reductions credited every year.
• Anchois gas development has the potential to reduce Morocco's carbon footprint significantly by providing a cleaner energy source than coal.

Social Achievements

• Essakane PV Plant spends 1% of its income to fund community projects such as tree planting campaigns, distribution of solar kits to schools, and contributed to the funding of a new school.
• Chariot promotes equal opportunity and diversity in the workplace and aims to assist employees in improving their professional abilities and developing their skills.

Governance Achievements

• Chariot maintains high ethical standards in its business activities and has a zero-tolerance policy towards bribery.
• The company adheres to the Quoted Companies Alliance’s (QCA) Corporate Governance Code.

Climate Goals & Targets

Environmental Challenges

• Funding and financing risks associated with deep offshore exploration.
• Exploration risk with no assurance of success.
• Operating risks such as equipment failure, well blowouts, fire, pollution, and bad weather.
• Environmental risks inherent in the oil and gas industry.

Mitigation Strategies

• Close monitoring of cash position and cash flow forecasts; seeking farm-in partners to reduce equity stakes; cost reduction programs.
• Bringing in farm-in partners with technical skills and experience; employing individuals with strong technical skills and experience.
• Adopting best-in-class industry operating and safety standards; sufficient insurance cover; working with high-standard contractors.
• Working closely with relevant ministries to ensure compliance with environmental regulations; conducting Environmental Impact Assessments; deploying marine mammal observers during seismic acquisition.

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities

• Anchois gas development contributes to Morocco's transition to a low-carbon economy.

Reporting Standards

Frameworks Used: QCA Corporate Governance Code

Awards & Recognition

• 2019 Towards Sustainable Mining excellence award (Essakane project)

Environmental Metrics

ESG Focus Areas

• Climate change
• Renewable energy
• Community benefits
• Safety
• Land access

Environmental Achievements

• Development of renewable energy projects totaling over 500 MW in partnership with Total Eren (South Africa, Zambia, Zimbabwe)
• Commissioning of a desalination plant in Djibouti powered by renewable energy

Social Achievements

• Partnership with Vivo Energy to develop a gas-to-industry market in Morocco
• 100% of permanent Essakane project staff are nationals, with 1% of project revenues dedicated to community investment.
• Development of a dedicated local content program for Project Nour in Mauritania

Governance Achievements

• Successful equity fundraising of US$29.5 million in June 2022
• Appointment of Societe Generale as financial advisor for Anchois project financing

Climate Goals & Targets

Environmental Challenges

• Securing financing for large-scale projects
• Navigating the nascent green hydrogen market
• Managing risks associated with early-stage projects

Mitigation Strategies

• Successful equity fundraising
• Strategic partnerships with Total Eren and other companies
• Phased approach to Project Nour development to spread financing requirements

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products and services

Reporting Standards

Frameworks Used: GRI, IFC Performance Standards, Equator Principles, UN Sustainable Development Goals

UN Sustainable Development Goals

• Goal 7
• Goal 9

Chariot's projects aim to ensure access to affordable, reliable, sustainable modern energy for all and build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation.

Sustainable Products & Innovation

• Green hydrogen production
• Renewable water production

Environmental Metrics

ESG Focus Areas

• Climate Change
• Social Impact
• Governance

Environmental Achievements

• Reduced fuel consumption at Essakane mine by an estimated 6 million liters, representing 18,500 tonnes CO2e annually.
• Received Environmental Impact Assessment approval for Anchois development and Loukos Onshore drilling.

Social Achievements

• 100% of permanent Essakane project staff are nationals; 1% of project revenues dedicated to community investment.
• Developed a comprehensive local content program for Project Nour, including proposals to expand Mauritania's higher education and technical training capabilities.

Governance Achievements

• Partnership with Energean plc, a FTSE 250 company, for offshore Moroccan acreage.
• Successful and efficient drilling campaign at Loukos Onshore, completed safely and on budget.

Climate Goals & Targets

Environmental Challenges

• Securing financing for Transitional Power and Green Hydrogen projects.
• Sub-economic results from RZK-1 well at Loukos Onshore.

Mitigation Strategies

• Undertaking a Strategic Review of Transitional Power to explore funding options, including potential sale or demerger.
• Detailed analysis of data from Loukos Onshore drilling campaign to inform future exploration efforts.

Supply Chain Management

Responsible Procurement

• Local content program for Project Nour

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products and services

Reporting Standards

Frameworks Used: IFC Performance Standards, Equator Principles, United Nations’ Sustainable Development Goals, GRI

UN Sustainable Development Goals

• Goal 7
• Goal 9

Goal 7: Ensure access to affordable, reliable, sustainable modern energy for all. Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation.

Sustainable Products & Innovation

• Desalinated water production using renewable energy