ESG goals and targets
Driving progress and measuring what matters.
We’re dedicated to creating a better world for our communities, partners, employees and shareholders. That means we’re in the business of responsibility for a sustainable energy future. We focus on continuous improvement to be the best-in-class responsible energy producer.
Environment goals and targets
Emissions
- Reduce ARC’s corporate GHG emissions intensity and strive to be the lowest GHG emissions intensity upstream oil and gas producer in North America.
- Reduce GHG emissions intensity by 20% by 2025, relative to the Company’s 2019 baseline.
- Reduce methane emissions intensity by 20% by 2025, relative to the Company’s 2019 baseline.
- Implement a minimum of 70,000 metric tonnes of carbon dioxide equivalent (tCO2e) emission reduction projects by 2025.
- Reinvest up to 100% of carbon offset revenues into clean technology development and application to further reduce ARC’s corporate emissions profile.
Reclamation and remediation
- Invest an average of $15 million in asset retirement activities over 10 years to further reduce ARC’s corporate environmental liability.
- Reduce average abandonment, reclamation, and remediation costs by 10% through the application of new technologies, area-based closure programming, and procurement strategies.
Social goals and targets
Health, safety, diversity and inclusion
- Deliver industry-leading safety performance in total recordable injury frequency (TRIF) and lost-time incident frequency.
- Reduce incidents with the potential to seriously harm people and the environment.
- Create a formal strategy to build a diverse and inclusive workforce and strong culture of belonging.
Indigenous relations and communities
- Acknowledge the role of business in reconciliation and commit to form meaningful relationships with Indigenous communities where ARC operates.
- Continue to demonstrate leadership through active engagement with stakeholders and impacted Indigenous community members on subjects such as noise mitigation, induced seismicity, etc.
- Commit a minimum of $3 million annually to community development initiatives.
Governance goals and targets
- Ensure appropriate Board oversight on ESG matters through sub-committees.
- Maintain Board structure of independent directors including the Board Chair.
- Promote diversity and inclusion and continue with the established target of a minimum of 30% female representation on the Board and in Management.
- Expand scope of third-party assurance of key ESG performance metrics.
- Incorporate key performance metrics, including ESG-related metrics, into the Corporate Performance Scorecard to determine executive compensation.
Related
ESG reporting
