Press release
APA Corporation Announces 2023 ESG Goals
HOUSTON, March 01, 2023 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced the company’s 2023 short- and long-term environmental, social and
About this update from Apa Corporation
[{"type":"text","content":"HOUSTON, March 01, 2023 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced the company’s 2023 short- and long-term environmental, social and governance (ESG) goals, which include performance metrics tied directly to employee incentive compensation. These goals significantly advance and expand upon the company’s prior ESG efforts and accomplishments in the areas of workforce safety and environmental stewardship. “Our ESG goals are ambitious and underpin a strategy to concentrate efforts around the areas where we can have the most beneficial and direct impact: air, water, and communities and people,” said John J. Christmann IV, APA’s CEO and president. “As we rise to the challenge of providing affordable and reliable products to meet the world’s energy demand, APA will strive to always do so in a safe, responsible and sustainable manner.” Short-Term Incentive Compensation Goals for Year-End 2023 Safety Maintain the momentum of APA’s excellent 2022 safety performance: Achieve a Severe Incident Rate at or below 0.028.Encourage employees and contractors to proactively identify at-risk conditions and behaviors across operations: Increase the safety observation rate and actions by 10%. Air Reduce methane emissions in U.S. onshore operations by converting more than 2,000 pneumatic devices to instrument air or through valve retrofit. Water Utilize at least 50% recycled, produced water for completions in U.S. onshore operations. Long-Term Goals Reduce Scope 1 greenhouse gases (GHG) intensity by 10-15% by 2030, with a near-term compensation-linked milestone to reduce at least 5% by 2025.Accelerate the reclamation of more than 150 plugged and abandoned (P&A) sites in U.S. onshore operations by year-end 2025. For more information on APA’s ESG efforts, please visit www.apacorp.com/sustainability. About APA APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and in the Dominican Republic. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Additional details regarding Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com. Forward-Looking Statements This news release conta...