Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Safe Operations
• Environmental Protection
• People and Society
• Governance and Ethics

Environmental Achievements

• Achieved ~60% of production carbon neutral in 2021
• Reduced Scope 1 and 2 emissions by ~50% by 2023 (target)
• Achieved best-in-class carbon intensity of ~1 kg CO2/boe by 2023 (target)
• 100% of net electricity usage matched by renewable power generation by end 2023 (target)
• Oily water discharges <15 ppm
• Produced water reinjection rate > 95%
• Waste recovery >90%
• Zero spills to sea

Social Achievements

• Increased gender balance and diversity in workforce (33% women overall, 44% on the board)
• Maintained robust labour practices and promoted human rights
• Created positive societal impact through Lundin Foundation (1.7 MUSD annual investment, 8.3 MUSD revenue generated, 201 jobs supported)
• Supported a range of innovative, sustainable businesses

Governance Achievements

• Upholding highest anti-corruption standards
• Promoting fair competition
• Maintaining clear whistleblowing procedure
• Mandatory training across core sustainability policies and Code of Conduct for employees and the Board

Climate Goals & Targets

Environmental Challenges

• Reducing remaining emissions to achieve carbon neutrality by 2023
• Maintaining safe operations and minimizing environmental impact

Mitigation Strategies

• Investments in renewable energy, electrification, and natural carbon capture (~800 MUSD investment)
• Energy efficiency initiatives
• Battery hybridisation of supply vessels
• Neutralisation of all business air travel
• Carbon footprint mapping and decarbonisation support to strategic suppliers

Supply Chain Management

Responsible Procurement

• Contractor Declaration
• Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI