Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate and Social Responsibility (CSR)
• Health
• Children
• Education
• Community

Social Achievements

• Discretionary Budget increased from US$0.5 million in 2006 to US$2.0 million in 2008 for CSR projects in Uganda, Ghana, Bangladesh, and Pakistan. Projects addressed health (fresh water, mosquito nets, malaria prevention, birth clinic, HIV/AIDS education) and education (schools, teacher sponsorships, learning materials).

Climate Goals & Targets

Environmental Challenges

• Onerous UK tax regime for gas
• Contractor environment remains tight in the UK

Mitigation Strategies

• Focus on managing operating costs
• Marginal programmes deferred with capital re-allocated to high impact projects
• Focused UK relinquishment & divestment programme, retaining production & development portfolio

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environment, Health and Safety (EHS)
• Society
• People

Environmental Achievements

• Zero high potential environmental incidents
• Successful ESIA (Environmental and Social Impact Assessment) in Ghana
• ISO14001 re-certification of the Environmental Management System (EMS) at Group level
• 55% reduction in CO2 emissions (due largely to the sale of UK Bacton facilities)

Social Achievements

• Over 80% of employees in Ghana are Ghanaian and over 70% in Uganda are Ugandan
• 2.0% staff turnover during the year
• US$2.1 million spent on voluntary social enterprise investment in over 100 projects in 11 countries
• Opened two Community Liaison Offices in Uganda

Governance Achievements

• Established an External Affairs (EA) function to manage social responsibilities and stakeholder engagement
• Revised structure and mandate of the CSR committee
• Published Code of Business Conduct
• Compliance with the Combined Code of Corporate Governance achieved

Climate Goals & Targets

Environmental Challenges

• One contractor fatality in Bangladesh
• Shortcomings in existing H&S procedures
• Difficulties in establishing a baseline understanding of emissions
• Managing expectations of benefits from new oil industries in Ghana and Uganda

Mitigation Strategies

• Commissioned a full independent Health and Safety (H&S) audit
• Incorporated audit actions into the 2010 EHS work plan
• Ongoing monitoring and reporting of emissions; working to improve understanding of reporting
• Extensive programme of public engagement in Ghana; working with government and Ugandan Petroleum Institute to develop technical skills

Supply Chain Management

Responsible Procurement

• Commitment to provide Ghanaian suppliers with full and fair opportunities in contract pre-qualification
• Encouraging major international contractors to develop their own Local Content programmes

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001

Third-party Assurance: Deloitte LLP

Awards & Recognition

• Financial Times ArcelorMittal Boldness in Business award for Entrepreneurship
• Investor Relations Society award for most effective overall Annual Report
• East African CSR Awards for Most Sustainable and Scalable Community Investment (Kaiso-Tonya Programme)

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Concerns about environmental impacts, particularly the effect of seaweed blooms on fishing activities.
• Community belief that oil and gas operations caused a decline in fishing resources.
• Fishermen's concerns about exclusion from safety zones, harassment by the Navy, and damage to fishing gear.
• Community perception of a lack of community benefits and employment opportunities.
• Community belief that TGL did not fulfill all promises/commitments.
• High stakeholder expectations regarding economic benefits and infrastructure development.

Mitigation Strategies

• Implementation of mitigation measures to avoid, reduce, remedy, or compensate for potential negative impacts.
• Development and enforcement of policies and procedures to minimize disturbance to marine mammals and turtles.
• Liaison between fishermen and the project through Community Liaison Officers (CLOs).
• Notification of mariners regarding safety and advisory areas.
• Establishment of a vessel transit route and enforcement of safety zones.
• Ongoing liaison with the Fisheries Commission.
• Development of a Stakeholder Engagement Plan to manage expectations and address concerns.
• Alignment of social benefits and community investments with government programs and community needs.
• Support for Ghanaian businesses through local content strategy and social investment programs.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Local content strategy to enhance sustainable economic and social development.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFC 2012 Sustainability Framework, International Finance Corporation (IFC) Performance Standards and EHS guidelines

Certifications: ISO 14001:2004

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Responsible operations
• Shared prosperity
• Environmental stewardship
• Equality and transparency

Environmental Achievements

• 3.6 per cent improvement in overall emissions intensity
• Board commitment to net zero emissions
• Climate change designated principal risk owned by Board
• Below sector average on carbon emissions intensity on IOGP benchmarks

Social Achievements

• Increased spend with local suppliers in Ghana by 28 per cent and in Kenya by 41 per cent
• Supported the creation of 88,000 jobs and access to >$4.5 million in financing for local businesses through our work with Invest in Africa
• Launched Cohort 3 of our engineering and technical Field Ready educational programme in Ghana
• Launched Cohort 4 of our entrepreneurship programme with TechnoServe in Kenya, supporting local businesses
• Completed upgrade of the Takoradi Airport Airforce Base in Ghana to benefit Ghana's domestic air travel
• Developed a safe sea access framework with local fishermen using the Voluntary Principles on Security and Human Rights (VPs)

Governance Achievements

• Became the first oil company to publicly support contract transparency in our industry at EITI’s eighth global conference
• Recognised for our leading disclosure on modern slavery by the Transparency in Supply Chain Report
• Published our proposed Stakeholder Engagement Plans (SEPs) for the Environment and Social Impact Assessment (ESIA) for upstream oil production in Kenya
• Appointed two female non-executive Directors, bringing female Board representation to 38 per cent
• Achieved over 20 per cent target of African representation on the Board
• 100 per cent of employees, including Management and Board of Directors, completed Code of Ethical Conduct training

Climate Goals & Targets

Environmental Challenges

• Significant operational and financial challenges resulting in changes to executive leadership and a sharp reduction in share price
• Third-party fatality in Kenya due to a road traffic accident involving a contracted truck
• Several High Potential Incidents (HiPos)
• Increase in Scope 1 emissions due to drilling campaigns, seismic and exploration activity, and the Early Oil Pilot Scheme

Mitigation Strategies

• Enhanced transparency to all stakeholders
• Continuous work with haulage contractors to reduce accidents
• Global safety stand-down event to raise awareness and development of safety improvement plans
• Adoption of IOGP Life-Saving Rules and dedicated training
• Implementation of the Tullow Process Safety Management Standard
• Investigation of short and long-term options to reduce emissions, including methane surveillance and working with the Ghana Government and Ghana National Gas Corporation

Supply Chain Management

Supplier Audits: Risk-based, third-party due diligence on ethical conduct

Responsible Procurement

• Ethics and compliance clauses in contractual agreements
• Supplier training workshops
• Invest in Africa (IIA) program

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Ability to raise carbon-intensive capital
• Tightening regulation around carbon
• Rapid innovation in alternative energy sources
• Shifting stakeholder perception

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards (2016) core option, IPIECA Oil and Gas Industry Guidance on Voluntary Sustainability Reporting, TCFD

Certifications: ISO 14001 (Corporate Headquarters)

Third-party Assurance: Selected indicators were externally assured; details in a separate document.

UN Sustainable Development Goals

• Goal 4
• Goal 8
• Goal 9
• Goal 7
• Goal 13

Supporting health and wellness programmes, investing in safety, contributing to vocational education, conducting risk assessments, upholding responsible business practices, protecting oceans and seas, enabling new access to global energy markets, ensuring environmental and biodiversity protection, operating in line with high standards of governance.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Safe operations
• Shared prosperity
• Environmental stewardship
• Equality and transparency

Environmental Achievements

• Set a 2030 timeframe for Tullow’s Net Zero ambition
• Established commitment to eliminate routine flaring by 2025
• Identified decarbonisation options to reduce emissions by 40-45 per cent (net equity basis)
• Increased transparency of Scope 3 emissions through reporting Non-operated emissions
• Reduced methane emissions by 98.8 per cent due to increased understanding of vented gas composition
• Generated power savings of 35-40 per cent by solar panels on Takoradi office roof

Social Achievements

• Spent $162 million with local suppliers in 2020
• Construction of dormitory accommodation at three secondary schools
• 320 pupils in four kindergarten schools instructed using active play-based pedagogy
• Supported health and wellness programmes in Kenya and Ghana, and advanced wellbeing programmes for Tullow employees
• Contributed to vocational education in Kenya and Ghana through Field Ready initiatives
• Achieved 46 per cent female representation in senior management roles within Finance (beating the 40 per cent target)

Governance Achievements

• 100 per cent of employees completed Code of Ethical Conduct e-learning and certification process
• Launched new Employee Value Proposition
• Recorded zero Tier 1 process safety incidents
• Implemented a new cumulative risk model
• Improved process safety performance with zero Tier 1 process safety events

Climate Goals & Targets

Environmental Challenges

• Disappointing 2020 safety performance with more Lost Time Injuries (LTIs) and Total Recordable Injuries (TRIs) than 2019
• Increased operational carbon emissions in 2020 due to elevated flaring levels
• Challenges in managing single-use plastic waste from Tullow sites due to operational constraints and health concerns during the pandemic
• Significant organisational restructuring with a 53 per cent reduction in employee headcount

Mitigation Strategies

• Commitment to preventing injury of all people associated with operations
• Formation of a Net Zero Taskforce to define an energy transition strategy
• Investments to increase gas handling capacity on Jubilee and enable process modifications on TEN to eliminate routine flaring
• Discussions with the Government of Ghana for a long-term firm gas supply and offtake agreement
• Identification of nature-based carbon removal projects to offset residual emissions
• Fair and respectful treatment of employees during restructuring, exceeding statutory minimum severance payments and providing support and counselling

Supply Chain Management

Responsible Procurement

• Local content initiatives
• Capacity building for local suppliers
• Risk-based third-party due diligence

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards (2016) core option, IPIECA Oil and Gas Industry Guidance on Voluntary Sustainability Reporting, SASB, TCFD

Certifications: ISO 14001 (Ghana operations)

Third-party Assurance: EY

Environmental Metrics

ESG Focus Areas

• Safe Operations
• Shared Prosperity
• Environmental Stewardship
• Equality and Transparency

Environmental Achievements

• 75% reduction in non-routine flaring at Jubilee field (year-on-year)
• 82% reduction in Scope 2 emissions over the last four years
• 88% reduction in water consumption per tonne of hydrocarbon produced
• 74% reduction in hazardous waste generation in Ghana operations

Social Achievements

• Launch of Flat Confidence, the first 100% Ghanaian-owned, crewed, and flagged vessel
• Over 700 local suppliers trained on industry best practices
• Over 7,800 students benefitted from educational initiatives
• 75% localisation in Ghana

Governance Achievements

• 100% of Tullow colleagues completed Code of Ethical Conduct training
• 100% of Tullow colleagues participated in a performance review

Climate Goals & Targets

Environmental Challenges

• Concerning dip in safety performance in 2020
• COVID-19 pandemic disruptions
• Need to eliminate routine flaring

Mitigation Strategies

• Focused on safety leadership and training
• Implemented COVID-19 safety measures
• Committed to eliminating routine flaring by 2025 through decarbonisation initiatives and nature-based solutions

Supply Chain Management

Responsible Procurement

• Strict technical, quality, and service standards
• Training programs for local suppliers (PC/TGL Business Academy Partnership)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards (2016) core option, IPIECA Oil and Gas Industry Guidance on Voluntary Sustainability Reporting, SASB Oil & Gas Sector Exploration and Production Standard (EM-EP), TCFD

Certifications: ISO 14001

Third-party Assurance: Integrated Reporting and Assurance Services (IRAS)

UN Sustainable Development Goals

• SDG 4 (Quality Education)
• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 13 (Climate Action)

Initiatives supporting education, skills development, local content, and climate change mitigation.

Awards & Recognition

• Local Content Award of the Year (Ghana Shippers Awards)
• Special Award for Commitment to Localisation of the Supply Chain (Absa Business Day Supplier Development Awards)
• Local Content Initiative Award of the Year (Ghana Oil and Gas Awards)

Environmental Metrics

ESG Focus Areas

• Safe operations
• Shared Prosperity
• Environmental stewardship
• Equality and transparency

Environmental Achievements

• 74% of generated waste recycled or reused
• Significant progress in advancing plans to eliminate routine flaring to meet our Net Zero commitment
• New agreement with the Forestry Commission of Ghana to progress nature-based solutions to support our Net Zero commitment

Social Achievements

• $173 million local supplier spend in 2022, bringing total five-year local spend to $1.2 billion
• Continued investment in the Ghana fishing communities with a total of loans worth over $300,000 granted to 1,300+ fishing businesses to date
• 3,000 pupils benefited from senior high school boarding accommodation and classrooms funded by Tullow in Ghana
• 6,000+ secondary and tertiary students benefited from Tullow STEM scholarships, bursaries and after school support
• Launched a ground-breaking, proprietary Local Content Reporting Tool to show how Tullow suppliers are meeting commitments in Ghana
• Three local content Awards for Tullow Ghana
• Employee satisfaction and engagement scored at 70 percent in 2022 Employee Engagement Survey

Governance Achievements

• Zero lost time / recordable injuries across our global operations
• Zero Tier 1 process safety Loss of Primary Containments. One Tier 2 process safety Loss of Primary Containment
• Process Safety Fundamentals programme completed
• Colleagues attended an average of 7.1 wellness events throughout the year in our Global Wellness Agenda

Climate Goals & Targets

Environmental Challenges

• High potential incidents (HiPos) remain a concern
• The effects of the COVID-19 pandemic had left many businesses in our host countries facing financial difficulty
• Currency depreciation significantly disadvantaged those paid in local currency in Ghana

Mitigation Strategies

• Incident investigation training with regular fortnightly coaching to embed investigation practices
• External safety coach to deliver training and coach teams
• Tullow Supplier Finance Readiness Programme to equip suppliers to obtain business funding
• Tullow Supplier Mentoring and Training Programme
• Dollar-linked salary across all employee categories in Ghana

Supply Chain Management

Responsible Procurement

• Increasing spend with indigenous companies
• Expanding the scope of work where possible with local suppliers
• Working closely with the Petroleum Commission to progress shared objectives
• Providing information about our business to raise awareness and help suppliers meet our requirements
• Maintaining active communications to ensure suppliers and stakeholders are aware of our local content initiatives

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards 2021, IPIECA Oil and Gas Industry Guidance on Voluntary Sustainability Reporting, SASB Oil & Gas Sector Exploration and Production Standard (EM-EP), TCFD

Certifications: ISO 14001

Third-party Assurance: Integrated Reporting and Assurance Services (IRAS)

UN Sustainable Development Goals

• SDG 4: Quality Education
• SDG 8: Decent Work and Economic Growth

Shared Prosperity strategy focuses on accelerating progress through partnerships to advance education and skills development, and enterprise development

Awards & Recognition

• 2022 Ghana Shippers Awards Local Content Award of the Year
• 2022 Ghana Oil & Gas Awards Local Content Award of the Year

Environmental Metrics

ESG Focus Areas

• Safe operations
• Shared Prosperity
• Environmental stewardship
• Equality and transparency

Environmental Achievements

• 3% reduction in total energy consumption
• 34% reduction in total water consumption
• 84% total waste recycled, re-used or treated (compared to 74% in 2022)
• Process improvements completed to increase gas handling capacity on Jubilee and TEN separator upgrades to progress elimination of routine flaring to meet our Net Zero commitment
• Positive results received in the fourth marine benthic environmental assessment undertaken in Ghana

Social Achievements

• $221 million local supplier spend – an increase of 28% compared to 2022
• 10,000 educational activities reached more than 10,000 pupils and students
• $713 million total socio-economic contribution in our host countries, bringing total five-year socio-economic contribution to $3.1 billion
• $770,000 loans granted to 2,411 businesses as part of ongoing investment in the Ghana fishing communities
• 2 Environment, Health & Safety (EHS) Forums held in Ghana
• Human rights major programme to identify salient human rights issues and training rolled out within Tullow and across our supplier base in Ghana
• 76% localisation in Ghana on track to achieve our target of 90% through implementation of various initiatives
• 8 wellness events attended on average by employees throughout the year as part of our Global Wellness Agenda
• 500 local companies attended six training workshops delivered through the Petroleum Commission/Tullow Business Academy Partnership Initiative in Ghana

Governance Achievements

• Refreshed our values and branding that reflect the Company and underpin our inclusive, collaborative and performance-driven culture at Tullow
• Board refresh with appointment of two new Non-Executive Directors
• Subsidiary management audit completed to improve governance across the Group
• Major progress on advancing human rights with a new framework, roadmap and action plans in development

Climate Goals & Targets

Environmental Challenges

• Hard to abate residual emissions from assets
• Simba and Tchatamba fields did not progress as planned in reducing routine flaring due to unsuitable technology

Mitigation Strategies

• Investing in a verified nature-based carbon offset initiative in Ghana to offset hard to abate emissions
• Working collaboratively to explore alternative ways to reduce routine flaring at Simba and Tchatamba fields

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Increasing spend with indigenous suppliers
• Enhancing supplier education
• Developing supplier capacity
• Monitoring supplier social and economic impact

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards 2021 including GRI 11: Oil and Gas Sector 2021, IPIECA-API-IOGP Sustainability Reporting Guidance for the Oil and Gas Industry, SASB Oil & Gas Sector Exploration and Production Standard (EM-EP), TCFD

Certifications: ISO 14001:2015

Third-party Assurance: Integrated Reporting and Assurance Services (IRAS)

UN Sustainable Development Goals

• Not disclosed

Our material focus aligns with the SDGs, with our key contribution directly advancing seven SDGs.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Health, Safety and Environment Excellence Award at the Ghana Energy Awards ’23
• Award for outstanding local content development and delivery at the 2023 Local Content Conference
• Five awards from the Chartered Institute of Supply Chain Management in Ghana