Climate Change Data

Environmental Metrics

ESG Focus Areas

• Support the energy transition
• Reduce our environmental impact
• Enable socio-economic progress
• Ensure responsible business practices

Environmental Achievements

• Reduced scope 1 and 2 emissions by 3% from 2020 baseline
• Reduced scope 3 emissions by 5% from 2020 baseline (like-for-like)
• 37 solar sites operational by end of 2021, 101 operational in Q1 2022 (3.1 MWp)
• Offset 105 Mt of CO2e (0.3%) from scope 2 emissions in 2021
• Reduced number of L4 spills (above 51 BBLs) from 6 in 2020 to 5 in 2021

Social Achievements

• Launched road safety programmes reaching over 120,000 children in Tanzania
• Renewed partnership with Bukl bilong Pikinini (BbP) in Papua New Guinea, distributing 70,573 library books
• Launched various COVID-19 relief efforts across multiple countries
• Increased percentage of female employees in senior and mid-management roles to 24% in 2021 (from 20% in 2020)
• Launched Graduate Programme in 2022

Governance Achievements

• Created an ESG Board Committee and an ESG Working Group
• Refreshed HSSE policy in January 2022
• Implemented company-wide anti-bribery and corruption training (98% completion by end of 2021)
• Implemented Know Your Counterparty (KYC) processes
• Aligned Supplier Code of Conduct with new ESG principles in 2022

Climate Goals & Targets

Environmental Challenges

• Climate change related physical risks (hurricanes, floods) and transition risks (regulatory changes, market shifts)
• Supply chain disruptions
• Reducing scope 3 emissions (99% from combustion of products sold)

Mitigation Strategies

• Integrating TCFD guidelines into risk management frameworks
• Developing alternative sourcing strategies
• Investing in cleaner energy products (solar PV, SAF)
• Transitioning communities and customers to cleaner fuels
• Implementing various spill prevention, detection and management measures

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Hurricanes
• Floods

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Expansion of transition fuels and clean energy offerings

Reporting Standards

Frameworks Used: GRI, TCFD

Certifications: ISO 9001, ISO 14001, ISO 45001/OHSAS 18001, API 650/653

UN Sustainable Development Goals

• 3
• 4
• 5
• 6
• 7
• 8
• 9
• 10
• 12
• 13
• 15
• 16
• 17

Initiatives contribute to these SDGs through various programs related to clean cooking, road safety, education, and community development

Sustainable Products & Innovation

• LPG
• LNG
• Solar PV
• Sustainable Aviation Fuel (SAF)
• Lower carbon bitumen
• Bio-based alternatives to bitumen

Environmental Metrics

ESG Focus Areas

• Energy Transition & Climate Change
• Local Environment & Nature
• People & Communities
• Governance & Supply Chains

Environmental Achievements

• Reduced Scope 1 and 2 carbon emissions to 194,541 tCO2e (2021: 248,247 tCO2e)
• Solarized 200+ sites in 2022, exceeding the target of 200 sites; aiming for 300 by end of 2023
• Developed lower carbon bitumen solutions (CarbonBind™) reducing carbon footprint
• Expanded UCO initiative with partnerships with global brands (McDonald's, Taco Bell, KFC, Wendy's) to transform waste oil into biodiesel
• Launched pilot LPG program in Tanzania and planned acquisition of LPG business in Zambia

Social Achievements

• 93% of workforce employed locally (2021: 90%)
• Launched Puma Graduate Programme and Puma Commercial Assessment Programme
• Invested US$590,000 in over 67,000 hours of employee training (2021: US$1,300,000 in 79,000 hours)
• Improved access to clean cooking across Africa
• Implemented various CSR initiatives, including road safety campaigns and community development projects

Governance Achievements

• Established ESG Governance model with ESG Board Committee
• 100% employee participation in mandatory anti-bribery and corruption training
• Commenced alignment with the Voluntary Principles on Security and Human Rights (VPSHR), aiming for full alignment by end of 2024
• Improved CDP score to A-

Climate Goals & Targets

Environmental Challenges

• Safety performance needing improvement
• Establishing foundation to achieve 30% of Africa EBITDA from clean energy and low-carbon fuels by 2027
• Navigating dislocated and unpredictable energy markets
• Balancing energy access and security with energy transition needs
• Data limitations in some emerging markets

Mitigation Strategies

• Implemented a comprehensive GHG reduction program
• Set medium-term (2032) and long-term (2050) GHG reduction targets
• Developed a portfolio of short-term GHG reduction projects (approx. US$15-20m capex)
• Increased focus on HSSE initiatives and training
• Business development efforts to expand clean energy and lower carbon fuel offerings

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct embedding ESG requirements

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (floods, storms, hurricanes)
• Coastal erosion and sea level rise

Transition Risks

• Regulatory changes
• Market shifts towards EVs and low-carbon fuels
• Limited supply and high cost of SAF

Opportunities

• Development of energy-efficient products and services
• Expansion of clean energy and lower carbon fuel offerings (solar, LPG, SAF)

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC

Certifications: ISO 9001, ISO 14001, API 650/653

Third-party Assurance: ERM Certification and Verification Services Limited

UN Sustainable Development Goals

• SDG 7
• SDG 8
• SDG 9
• SDG 3
• SDG 5
• SDG 6
• SDG 11
• SDG 12
• SDG 13
• SDG 16
• SDG 17

Puma Energy's operations and CSR initiatives contribute to these SDGs through energy access, job creation, infrastructure development, health and safety, gender equality, environmental protection, and community development.

Sustainable Products & Innovation

• CarbonBind™ lower carbon bitumen
• Biodiesel from UCO
• Integrated solar power solutions

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Energy Transition
• Road Safety
• Community Development
• Employee Wellbeing
• Governance
• Supply Chain Sustainability
• Human Rights

Environmental Achievements

• Reduced Scope 1 and 2 emissions to 178,818 tCO2e through mitigation efforts and lower operational footprint.
• Solarised 300 Puma Energy-branded retail stations.
• Installed 684 solar panels at Napa Napa Refinery, Papua New Guinea, delivering 300 kW of solar power.
• Developed award-winning CarbonBind® bitumen, reducing carbon footprint by capturing carbon from the atmosphere.

Social Achievements

• Launched rural service station program in Zambia, providing fuel, LPG, banking, and healthcare access.
• Implemented Be Road Safe program in Tanzanian and Botswanan primary schools, raising road safety awareness.
• Invested nearly US$600,000 in over 73,000 hours of employee training.
• Launched Puma Pris loyalty program in Latin America, with over 500,000 members.

Governance Achievements

• Established ESG Board Committee to oversee ESG strategy and KPIs.
• Created ESG Working Group for day-to-day ESG management.
• Maintained CDP score of A- for the second consecutive year.
• Successfully converted US$358 million of shareholder loan into equity.

Climate Goals & Targets

Environmental Challenges

• Global inflation, strained consumer and business budgets, currency devaluation in emerging markets.
• Weaker global demand for bitumen due to reduced government spending.
• Shortage of foreign exchange in Papua New Guinea impacting fuel supply.
• Political instability and economic growth deceleration in some Latin American countries.
• Lack of sufficient foreign exchange supply in Papua New Guinea.
• High interest rates, inflation, and FX volatility impacting aviation business.

Mitigation Strategies

• Liability management exercise to reduce debt and strengthen balance sheet.
• Focus on operational excellence and efficiency.
• Enhanced customer offering at retail sites (Super 7 and ShopExpress brands).
• Strategic portfolio reshaping.
• Proactive engagement with government, customers, and stakeholders in Papua New Guinea.
• Agility to meet growing demand in aviation sector.
• Investment in refuelling technology and storage.

Supply Chain Management

Supplier Audits: 59% of contracted security providers audited for VPSHR alignment.

Responsible Procurement

• Supplier Code of Conduct with ESG requirements.
• ESG-related information sessions for suppliers.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (floods, cyclones, hurricanes, storms).
• Droughts.
• Sea level rise.

Transition Risks

• Regulatory changes limiting fossil fuels.
• Technology changes (EVs, SAF).
• Market shifts towards low-carbon alternatives.

Opportunities

• Development of low-carbon fuels and renewable energy solutions (solar, LPG, SAF).
• EV charging infrastructure.
• Sustainable bitumen products.

Reporting Standards

Frameworks Used: GRI, TCFD, SASB, UN Global Compact

Certifications: ISO 9001, ISO 14001, API 650/653

Third-party Assurance: ERM CVS

UN Sustainable Development Goals

• SDG 3
• SDG 5
• SDG 6
• SDG 7
• SDG 8
• SDG 9
• SDG 11
• SDG 12
• SDG 13
• SDG 16

Puma Energy contributes to these SDGs through its products and services, CSR initiatives, and ESG strategy.

Sustainable Products & Innovation

• CarbonBind® bitumen.
• OLEXOCRUMB® bitumen.
• Low-temperature bitumen.

Awards & Recognition

• Australian Flexible Pavement Association’s National Innovation Award for CarbonBind®.