At Energean, protecting the environment is a core component of how we operate and contribute to the energy transition. We recognise the urgent climate challenge and our role as an energy provider in reducing environmental impact, enhancing natural resource stewardship, and supporting resilient ecosystems.
Environmental Stewardship and Climate Action
We are committed to limiting our climate impact by reducing greenhouse gas emissions across our operations.
In 2024, our Group Scope 1 and 2 emissions intensity (on an equity share basis) was 8.4 kg CO₂e per barrel of oil equivalent (kgCO₂e/boe), a year-on-year reduction of around 10% and a cumulative decrease of approximately 87% compared to our original baseline year (2019).
This reflects ongoing efforts to improve energy efficiency, optimise low-emission asset utilisation, and align with our ambition to achieve Net Zero emissions for Scope 1 and 2 by 2050.
We continue to integrate energy transition considerations into strategic planning, focusing on secure, lower-carbon energy through natural gas, which supports regional energy security and plays a transitional role in reducing reliance on higher-carbon fuels.
Managing Our Environmental Footprint
Energean places strong emphasis on holistic environmental management, which includes:
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Climate Change Mitigation: Enhancing emissions monitoring, implementing decarbonisation measures, and aligning disclosures with international frameworks.
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Water & Marine Resources: Responsible use and protection of water and marine ecosystems in offshore and onshore operations, with strategies developed in line with best practices.
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Biodiversity Preservation: Maintaining biodiversity considerations in project planning and environmental impact assessments to minimise disturbance to ecological habitats.
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Waste & Resource Efficiency: Improving waste management through reduction, reuse, and recycling initiatives across operating sites.
Performance, Transparency & Reporting
Energean is dedicated to transparent disclosure of our environmental performance. Our Sustainability Report 2024 provides detailed environmental data, aligned with internationally recognised standards and frameworks.
The report underscores our continued commitment to environmental stewardship and provides stakeholders with clear insights into progress and challenges.
We also maintain strong performance in external ESG assessments and indexes, reinforcing our commitment to environmental and sustainability practices.
Climate Strategy and Long-Term Goals
We have embedded climate risks and opportunities into our business strategy. This includes setting long-term targets, such as achieving net zero Scope 1 and 2 emissions by 2050, promoting cleaner energy solutions, and continuing to reduce emissions intensity annually.
Our approach is consistent with global climate principles and reflects a proactive orientation toward long-term environmental sustainability.
Environmental Key Performance Indicators regularly monitored include:
- Annual Greenhouse gas emissions
- Direct/indirect emissions intensity
- Global energy use
- Energy use intensity
- Water use intensity
- Waste quantities disposal