ARC Resources Ltd. Announces Release of 2020 ESG Report
CALGARY, AB, Aug. 31, 2020 /CNW/ - (TSX: ARX) ARC Resources Ltd. ("ARC" or the "Company") announces the release of its 2020 ESG Report, which details the Company's leading environmental, social, and governance ("ESG") performance and the increasingly important role that ARC's ESG practices serve in the Company's purpose, long-term strategy, and its strong financial and operational results. The 2020 ESG Report advances the Company's previous ESG disclosures and is fully aligned with the Sustainability Accounting Standard Board's framework and with recommendations of the Task Force on Climate-related Financial Disclosures. The report is available on ARC's website at www.arcresources.com.
Canadian energy producers are leaders in carbon reduction and responsible energy development. As global energy needs evolve amid the transition to a lower carbon economy, ARC believes that with its portfolio of highly efficient Montney resource and its leading ESG strategies and practices, it has both the responsibility and opportunity to successfully meet these energy needs.
Highlights of ARC's ESG performance for 2018 and 2019 include:
- Demonstrated leading greenhouse gas ("GHG") emissions intensity performance by delivering a 47 per cent reduction in GHG emissions intensity, significantly exceeding the target to reduce the Company's GHG emissions intensity by 25 per cent by the end of 2021 relative to the Company's 2017 baseline. ARC has set a new target to reduce its GHG emissions intensity by an additional 20 per cent by the end of 2025 relative to the Company's 2019 baseline.
- Recycled nearly 90 per cent of water produced from the Company's operations. ARC has invested $55 million in major water infrastructure projects since 2017 to significantly reduce the Company's freshwater usage and water access risk.
- Surpassed six years without a lost-time injury incident for employees.
- Continued to promote gender diversity at all levels of the organization, establishing a target to achieve a minimum of 30 per cent female representation within ARC's board of directors over the next three years.
To maintain and grow its industry-leading ESG performance, ARC has set additional targets across all aspects of ESG, which are discussed in detail within the report.
ARC will be providing an update on its ESG strategies and performance and will be discussing highlights from the 2020 ESG Report on Wednesday, September 9, 2020 at 9:00 a.m. MDT. A live webcast of the event will be available on ARC's website at www.arcresources.com.
ARC Resources Ltd. is one of Canada's largest conventional oil and gas companies with an enterprise value of approximately $3.3 billion. ARC's common shares trade on the Toronto Stock Exchange under the symbol ARX.
For further information about ARC Resources Ltd., please visit ARC's website at www.arcresources.com or contact Investor Relations:
Telephone: (403) 503-8600
Fax: (403) 509-6427
Toll Free: 1-888-272-4900
ARC Resources Ltd.
Suite 1200, 308 - 4th Avenue SW
Calgary, AB T2P 0H7
SOURCE ARC Resources Ltd.