Driving Performance with Expanded ESG Compensation Incentives
HOUSTON, Sept. 30, 2020 (GLOBE NEWSWIRE) — Apache Corporation (Nasdaq: APA) today released its 2020 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.
“The global pandemic has reminded us of life’s essentials – the necessities for sustaining life and helping people thrive in better times. At the core of those essentials is energy. We need reliable, cleaner and affordable energy supplies to advance society and human progress. We are committed to responsibly providing energy the world needs while being a leader on environment, social and governance issues,” said John J. Christmann IV, Apache’s chief executive officer and president.
“To drive ESG performance, we have expanded the scope of ESG goals in our 2020 annual incentive compensation plan and increased their weighting from 10% to 20%. These goals are related to health and safety, greenhouse gas emissions, freshwater use, natural gas flaring, workforce training, and the United Nations Sustainable Development Goals. We understand Apache’s future success depends on our ability to meet the world’s energy needs in ways that are safe, environmentally responsible, innovative and profitable – for the long-term benefit of all our stakeholders,” Christmann continued.
Report highlights include:
- Sharing our commitment to ESG leadership – In order to have the greatest impact, Apache is focused on the issues most pertinent to and controllable by the company. In addition to a continued focus on safety, the company directs its primary efforts towards air, water, and people and communities.
- Improving health and safety – Since 2018, Apache has reduced safety incidents for employees and contractors by lowering its Total Recordable Incident Rate (TRIR) by 37% and Days Away, Restricted or Transferred (DART) rate by 49%.
- Reducing methane emissions – Apache has a rigorous program for preventing, identifying and eliminating leaks of methane. From 2018, the company’s global methane emissions intensity was reduced by 8% and the company achieved its goal of reducing global methane emissions intensity to 0.37% or less of gross methane production in 2019, six years earlier than targeted.
- Using alternatives to fresh water – In 2019, 95% of the water Apache consumed for operations was obtained from nonfresh sources.
- Benefiting our communities – Apache’s long-standing commitment to issues such as natural resources conservation and education has established a foundation for identifying opportunities where we can create lasting and sustainable positive impacts. In 2020, Apache is committing 100% of philanthropic dollars in support of causes that align with the United Nations Sustainable Development Goals.
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom and exploration activities offshore Suriname. Apache posts announcements, operational updates, investor information and press releases on its website, www.apachecorp.com. Specific information concerning Suriname, ESG performance and other investor-related topics are posted at investor.apachecorp.com.
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