Climate Change Data

Environmental Metrics

ESG Focus Areas

• Governance
• Shareholder Rights
• Stakeholder Engagement
• Employee Engagement

Social Achievements

• Established policies and programs to provide a mechanism on the fair treatment and protection of stakeholders.
• Established policies, programs and procedures that encourage employees to actively participate in the realization of the Company’s goals and in its governance.

Governance Achievements

• Established standards for the appropriate selection of an external auditor and exercises effective oversight.
• Ensured that material and reportable non-financial and sustainability issues are disclosed.
• Maintained a comprehensive and cost-efficient communication channel for disseminating relevant information.
• Established a strong and effective internal control system and enterprise risk management framework.
• Adopted a policy on the training of Directors, including an orientation program for first-time Directors and relevant annual continuing training for all Directors.
• Adopted a policy on board diversity.
• Established an Audit Committee, Corporate Governance Committee, and other board committees to enhance oversight and governance.
• Adopted a Code of Business Conduct and Ethics.
• Implemented corporate disclosure policies and procedures to ensure comprehensive, accurate, reliable and timely reporting.
• Established an Investor Relations Office (IRO) to ensure constant engagement with its shareholders.

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Climate Change
• Procurement Practices
• Resource Management (Energy, Water)
• Ecosystems and Biodiversity
• Employee Management
• Workplace Conditions, Labor Standards, and Human Rights

Environmental Achievements

• Reduced paper waste by going electronic
• Implemented cost-cutting measures resulting in reduction of general & administrative expenses
• Efficient use of GHG-emitting equipment contributing to less air pollutants
• Recycling practiced in office premises
• Conservation of electricity and water
• Strict compliance with environmental laws and policies by securing required permits from the DOE, DENR-EMB

Social Achievements

• Provided employee benefits such as SSS, PhilHealth, Pag-IBIG, parental leaves, vacation leaves, sick leaves, medical benefits, retirement fund, further education support, telecommuting, and flexible working hours
• Provided 180 hours of employee training
• Maintained a 62.5% female workforce

Governance Achievements

• Implemented Enterprise Risk Management (ERM) providing reasonable assurance regarding the achievement of the Company’s objectives
• Board of Directors ensures a comprehensive, corporate-wide climate change mitigation or adaptation strategy is in place
• Management discusses climate-related concerns with the Board during monthly meetings

Climate Goals & Targets

Environmental Challenges

• Managing capital projects in a global environment
• Price risk, supply and demand risk, cost risk, and operational risk in the oil and gas industry
• Extreme rainfall events and other natural disasters
• GHG emissions from gas flaring in Galoc Operations
• Paper waste from office operations
• Inefficient use of equipment resulting in higher energy consumption
• Irresponsible water use by some personnel
• Disturbance of local ecosystem during fieldworks
• Effluents with oil and other toxic waste contents exceeding acceptable limits
• Non-adherence to providing mandated employee benefits

Mitigation Strategies

• Effective monitoring and reporting mechanisms to manage risks and opportunities
• Rationalization of exploration projects, prioritizing those within medium-term prospects
• Tighter measures to ensure efficient utilization of resources
• Going electronic to reduce paper waste and operational expenses
• Implementing cost-effective adaptation strategies
• Continuous monitoring and reminders to employees on efficient use of resources
• Regular inspections to avoid water wastage
• Strict adherence to environmental laws and policies
• Oil Spill Contingency Plans
• Monitoring and treatment of produced water and petroleum wastes
• Regular check and maintenance of AC systems
• Flaring instead of venting natural gases
• Strict implementation of MARPOL guidelines
• Check-and-balance practices to ensure proper policy implementation

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Prioritizing local suppliers (96.48% of procurement budget)

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Natural disasters

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Energy efficiency improvements
• Reduced operational costs through alternative work schemes

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 8 (Decent Work and Economic Growth)
• Goal 13 (Climate Action)

Oil & Gas Exploration & Production contributes to economic growth, decent work, and affects vulnerable groups. Mitigation efforts aim to reduce environmental damage.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed