APA Corporation Releases 2021 Sustainability Report
HOUSTON, Oct. 20, 2021 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today released its 2021 Sustainability Report, which covers the company’s environmental, social and governance (ESG) performance based on 2020 data and provides updates on 2021 progress. The report is available at www.apacorp.com/sustainability.
“We have made significant progress on ESG issues, which I’m pleased to share in our latest sustainability report. The world needs the abundant, reliable energy provided by oil and natural gas, and it’s our commitment to produce this energy in a responsible way,” said John J. Christmann IV, APA’s CEO and president. “We have focused our ESG efforts on the issues most pertinent to and controllable by our company: air, water, communities and people, and we are driving performance by including ESG goals as 20% of incentive compensation for all employees.”
Report highlights include:
- Protecting air quality – In 2021, APA set a goal to eliminate routine flaring across U.S. onshore operations by year-end and achieved the goal ahead of schedule. Since 2016, the company has decreased global greenhouse gas emissions by 27% and global methane emissions intensity by 41%.
- Aligning with the Taskforce on Climate-related Financial Disclosures (TCFD) – The company expanded its alignment with TCFD standards and introduced a fully aligned scenario analysis, which assists in assessing, planning and managing future challenges and opportunities.
- Minimizing freshwater consumption – APA seeks to reduce its use of fresh water by finding innovative ways to reuse produced water, sourcing alternatives to fresh water and reducing the overall amount of water used in operations. In 2020, the majority of the water used, greater than 94%, was recycled produced and nonfresh water.
- Fostering a more diverse and inclusive workforce – APA has expanded its diversity and inclusion program by deploying trainings for all employees, increasing participation in Employee Resource Groups and establishing a dashboard to monitor diversity trends within the organization.
- Benefiting our communities – APA organized its long-standing commitment to address the needs of local communities into three pillars: Community, Environmental Stewardship and Access to Energy. The company also committed 100% of its philanthropic dollars to supporting causes that align with the United Nations Sustainable Development Goals.
APA Corporation owns consolidated subsidiaries that explore for and produce oil and gas in the United States, Egypt and the United Kingdom and that explore for oil and gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Specific information concerning Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in Apache’s Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on February 25, 2021, for a discussion of risk factors that affect our business. Any forward-looking statement made by APA and/or Apache in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and its subsidiaries undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
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