Mubadala Petroleum released its 2020 Annual Sustainability Report earlier this week outlining the company’s approach and impact on the key environmental, social, and governance (ESG) parameters across its asset portfolio.
According to the research, the company has recorded a 25 percent reduction in greenhouse gas emissions over the last three years as a result of a targeted approach that embeds its footprint as a responsible, economical, and long-term provider of energy.
This comes as Mubadala Petroleum confirms its commitment to supporting the UAE’s ambitions in solving key climate change concerns. The company’s values influence its focus on a passion for people, a dedication to generating a positive environmental effect and delivering on the promise of value creation and financial sustainability, according to the report.
“Sustainability has always been central to our approach and this report highlights the significant progress we are making on key focus areas such as emissions and lowering our environmental footprint, while also supporting the energy transition towards a lower-carbon future by maintaining a gas-biased portfolio of assets across 10 countries globally.”
The report has highlighted more than 5.7 million working hours with zero Lost Time Incidents, and zero fatalities since inception, driven by the company’s foundational commitment to maintaining a safe working environment.
Other accomplishments include a 62 percent gas-weighted portfolio as part of the commitment to support the energy transition to a lower-carbon future, as well as a 25 percent reduction in Green House Gas emissions over the last three years and a 4 percent reduction in 2020, reinforcing the commitment to maintaining a positive environmental impact.
The report also mentions zero spills above one barrel, driven by a robust operating philosophy centered on the prevention of risky and unsustainable operations, as well as over 48 community enhancement programs, including participation in the Zayed Sustainability Prize’s 20by2020 initiative.
There was a six percent increase in female representation and 31 nationalities across the organization, supporting the drive for greater diversity and inclusion.
The report also assesses the company’s contribution to achieving the United Nations’ Sustainable Development Goals.