Sound Energy PLC
Climate Impact & Sustainability Data (2021)
Reporting Period: 2021
Environmental Metrics
Water Consumption:3.25 m3/year
ESG Focus Areas
- Environment
- Social
- Governance
Environmental Achievements
- Significant steps towards cash generation by displacing coal and LPG to lower Morocco’s carbon footprint
- Maintaining high environmental standards in operations
- Working with a University of Cambridge project to measure carbon footprint
Social Achievements
- Continued employment of 12 individuals from neighboring communities in Morocco
- Academic collaboration agreement with Mohammed 1st University in Oujda for doctoral students in Geology/Geoscience
- Investment in infrastructure projects (Maroc Telecom tower, Hassi Lahcen water well, maternity section for health center, school building)
Governance Achievements
- Anti-Bribery and Corruption training completed by all London and Rabat office personnel
- Adoption of the Quoted Companies Alliance Corporate Governance Code 2018
- Strengthened Board with appointment of Christian Bukovics as Senior Independent Non-Executive Director
Climate Goals & Targets
Long-term Goals:
- Net zero emissions (timeline not specified)
Medium-term Goals:
- Meaningful progression on Phase 1 mLNG project and Phase 2 gas pipeline development
Short-term Goals:
- Deliver first revenue via Phase 1 Micro LNG project within 24 months
Environmental Challenges
- COVID-19 pandemic impacting progress on the ground
- Supply chain issues and inflation
- Moroccan Tax Administration assessments due to a misunderstanding of historical licensing changes
Mitigation Strategies
- Rescheduling longer-term bond holder debt with minimal equity dilution
- Securing agreements with contractor financing to minimize upfront funding exposure
- Constructive engagement with the Moroccan Tax Administration
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UN Sustainable Development Goals