HOUSTON, Dec. 16, 2019 (GLOBE NEWSWIRE) -- Apache Corporation (NYSE/Nasdaq: APA) has released its 2019 Sustainability Report, which highlights the company’s performance in governance, environmental stewardship, health and safety, workforce development and community engagement. The report is available at www.apachecorp.com/Sustainability.
“At Apache, we deliver the energy needed to sustainably advance human progress while creating value for our stakeholders,” said John J. Christmann IV, Apache's chief executive officer and president. “The energy we produce and the responsible way in which we operate enables higher standards of living and a cleaner energy future for people around the world. We believe our company’s success depends on delivering positive social, environmental and financial returns.”
Among the highlights, the 2019 report:
- Provides increased transparency on Apache's most material sustainability issues – Apache believes that transparency is critical to its relationships with stakeholders and strives to continuously improve the breadth and quality of publicly disclosed data. In this report, Apache increased its reporting of many topics, including board level management of environmental, social and governance issues; climate change-related risks; road safety programs and contractor safety and management.
- Highlights Apache’s vision to deliver responsibly produced energy to power global progress – A featured section outlines Apache’s updated vision statement that captures the benefits the company provides to the world. Apache believes that responsibly producing affordable natural gas and oil contributes to global progress by helping to meet the world’s energy needs.
- Provides an update on Apache’s approach to climate change-related risks – Apache identifies and manages potential risks and opportunities related to climate change as part of its ongoing risk management and business planning processes, which are overseen by senior management and the Board of Directors. Apache has expanded its reporting of how the company identifies and addresses climate change-related risks and has aligned those disclosures to the Task Force on Climate-related Financial Disclosures’ recommendations on climate change-related governance, strategy, risk management, and metrics and targets.
- Addresses stakeholders' most frequently asked questions – The report provides concise answers to stakeholders' most frequently asked questions and points readers to more detailed content throughout the report.
The report also highlights Apache's performance in key sustainability areas, including:
- Improving health and safety – Since 2014, Apache has reduced safety incidents for employees and contractors by lowering its Total Recordable Incident Rate (TRIR) by 27% and Days Away, Restricted or Transferred (DART) rate by 34%.
- Reducing methane emissions – Apache has a rigorous program for preventing, identifying and eliminating leaks of methane. From 2014 to 2018, the company’s global methane emissions intensity was reduced by 40%.
- Using alternatives to fresh water – In 2018, only 5% of Apache's water consumption was fresh water. Apache uses recycled produced water and nonpotable, brackish groundwater to reduce its use of fresh water.
- Benefiting our communities – Apache aims to invest in communities by hiring and spending locally. In 2018, 97% of Apache employees were local nationals, and approximately 31% of the company's spending was with local vendors.
The 2019 report was prepared using the Global Reporting Initiative’s (GRI) Sustainability Reporting Standards and meets the requirements for a core-level report. GRI is a nonprofit organization that promotes economic, environmental and social sustainability. Its comprehensive sustainability reporting model is widely used around the world. Also consulted were IPIECA’s Oil and Gas Industry Guidance on Voluntary Sustainability Reporting, the Task Force on Climate-related Financial Disclosures and Disclosing the Facts 2019.
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom. Apache posts announcements, operational updates, investor information and press releases on its website, www.apachecorp.com.
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Source: Apache Corporation