“Why ESG matters”

“Why ESG matters”

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Today, we want to talk about ESG and why it matters.

 

It really all comes down to values; to doing the right thing.

 

Of course, we follow the laws of the countries we operate in. Of course, we care about investor perception and stakeholder engagement – and be in no doubt, our commitment to ESG has been a major driver of positive perception with some of our most important stakeholders.

 

But.

 

We chose to become ESG leaders, because this is who we are. This is what it means to be an Energizer. To go above and beyond and to do what is right. We are a responsible provider of energy to societies for  secure, affordable and reliable energy, that also supports a move to a more sustainable system, which is an existential challenge.

 

We should be proud that we are part of a company that creates value not just for shareholders and for ourselves, but also for the  broader society. Itis part of what makes Energean a unique place to work. It is part of the purpose that defines Energean and Energizers.

The highlights of our 2024 Sustainability Report are impressive:

  • Initial carbon intensity reduction goal of 87% between 2019 (baseline year) and 2025. As the first E&P company to announce a net-zero target, our reduction in carbon intensity underscores our progress in decarbonisation. Our roadmap to NZ2050 is now well-defined and firmly established.
  • Elimination of routine flaring & incorporation of green power.
  • Launch of specialist decarbonization subsidiary, “EnEarth”:

Committed to advancing Prinos CO2 project.

The project is expected to safely store up to 3 million tons of CO2 annually, supporting the transition to an EU green industrial future.

Secured €270M external funding from EU & Greek authorities.

  • Energean's commitment to the United Nations Sustainable Development Goals (SDGs) is evident in our deep and long-lasting engagement with the communities where we operate:

Supporting MDA Hellas by running alongside them at the Athens Classic Marathon and Half Marathon.

Sponsorship of UNHCR female refugee programmes.

  • Zero serious injuries, zero oil spills, zero environmental accidents and zero harm to the environment.

Our employees are integral to our success, and we remain dedicated to ensuring their safety and wellbeing, promoting diversity and inclusion, and upholding the highest ethical standards:

  • Zero work-related illnesses and a 28% reduction in LTIF for employees and contractors compared to 2023.
  • 6,792 HSE training hours provided to employees and contractors working in Energean operated sites.
  • Zero incidents of human rights violations at work for direct employees.
  • 100% of our employees across the organisation were invited to take part in a series of DEI training sessions. In 2024, cumulative DEI training hours are calculated at 2,192.5 hours.
  • 14% representation of people <30 years old, ensuring that we provide career opportunities to the younger generation and develop the next leaders of Energean.
  • 85% of our employees underwent training, reflecting an 8% rise in training hours compared to the previous year. Proudly received certifications as a “Great Place to Work” in Greece, Israel, and Egypt.
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Of course, we are going to champion our own cause – but it’s worth noting that external evaluation puts us in the top quartile. In April 2025, and for the second consecutive year, MSCI awarded Energean its highest rating, an unchanged AAA – a top rating that places us in the top 20% of listed Oil & Gas exploration and production companies.

 

When considering our ESG commitment, I want to congratulate you all for making Energean unique and for positively engaging with our ETHOS – the heart and soul of Energean. This is what makes us different and what makes us a great place to work. We should all take pride that Energean is a force for good in the world.

 

If you want more detail, Energean’s newly published 2024 Sustainability Report