Gear Energy
Climate Impact & Sustainability Data (2020, 2022)
Reporting Period: 2020
Environmental Metrics
Total Carbon Emissions:80703 Tonnes CO2e
Scope 1 Emissions:46640 Tonnes CO2e
Water Consumption:27160 m3
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced Scope 1 and Scope 2 greenhouse gas emission intensity by 11% (Tonnes CO2e/BOE)
- 100% reduction in reportable spill intensity (m3 spilled/MMboe produced)
- Reduced freshwater use intensity by 66% (m3/BOE)
- Reduced methane emission intensity by 24% (Tonnes CO2e/BOE)
Social Achievements
- Zero lost time injuries and zero recordable injuries over the last two years including to the end of the second quarter of 2021
- Invested over $57 million in 2020 to the Canadian economy through payment of royalties, property taxes and rentals, other operating expenses, development capital and general and administrative expenses
Governance Achievements
- Shareholder alignment to management and director compensation
- Full, clear, and truthful disclosure
- Board independence (All of Gear’s board members, with the exception of Ingram Gillmore, Chief Executive Officer, are independent)
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:160,215 tCO2e/year (Scope 1)
Scope 1 Emissions:160,215 tCO2e/year
Water Consumption:15,652 m3/year
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced flared gas emissions by 33% since 2019 (Tonnes CO2e)
- Reduced freshwater use by 42% since 2019 (m3)
- Reduced methane emissions by 12% since 2019 (Tonnes CO2e)
- 88% reduction in reported spill count since 2019
- Top quartile freshwater use intensity compared to peers (m3/BOE)
- Top quartile methane emission intensity compared to peers (Tonnes CO2e/BOE)
Social Achievements
- Three years in a row with zero recordable injuries and zero lost time incidents
- Material investment in and assistance to the communities where we operate
Governance Achievements
- Shareholder alignment to Management and Director compensation
- Full, clear, and truthful disclosure
- Board independence (All of Gear’s Board members, with the exception of Ingram Gillmore, Chief Executive Officer, are independent)