Press release
Kinetik Publishes Sustainability-Linked Financing Framework
Reinforcing Its Commitment to a Safer, Cleaner and More Reliable Energy Future HOUSTON, May 16, 2022 (GLOBE NEWSWIRE) -- Kinetik Holdings Inc. (NASDAQ: KNTK)
About this update from Apa Corporation
[{"type":"text","content":"Reinforcing Its Commitment to a Safer, Cleaner and More Reliable Energy Future\nHOUSTON, May 16, 2022 (GLOBE NEWSWIRE) -- Kinetik Holdings Inc. (NASDAQ: KNTK) (“Kinetik” or the “Company”) today published its Sustainability-Linked Financing Framework (“Framework”), which links its Environmental, Social and Governance (“ESG”) commitments to the Company’s broader financing strategy. “Together with our upcoming Sustainability Report to be released this summer, today’s announcement strengthens our commitment to positively impact climate change and build an even more diverse and inclusive culture in our workplace,” said Jamie Welch, President and CEO. “We strongly believe that integrating sustainability initiatives into our business decisions and financing strategy is essential to creating value for our stakeholders and is quite simply good business. These measures accelerate our move towards achieving net-zero greenhouse gas emissions by 2050 while also advancing our overall commitment to diversity, equity and inclusion.” The Framework outlines the principles Kinetik would follow in connection with the issuance of Sustainability-Linked Financing instruments, including Sustainability-Linked Bonds, Sustainability-Linked Loans or any other Sustainability-Linked instruments. The following key performance indicators (“KPIs”) have been selected to measure progress against Kinetik’s environmental and social sustainability performance targets (“SPTs”): Greenhouse Gas (“GHG”) Emissions IntensityMethane Emissions IntensityFemale Representation in Corporate Officer Positions These KPIs provide transparency and ensure meaningful progress is made towards Kinetik’s SPTs, which align with Kinetik’s long-term ESG initiatives and commitments. The designated SPTs are as follows: Reduce GHG emissions intensity by 35% by 2030, relative to the 2021 baseline.Reduce methane emissions intensity by 30% by 2030, relative to the 2021 baseline.Increase female representation in corporate officer positions to 20% by year end 2026. The Framework and SPTs demonstrate Kinetik’s commitment to achieve net-zero greenhouse gas emissions by 2050, support the Global Methane Pledge and champion women in the workplace. Kinetik obtained an independent second party opinion (“SPO”) from ISS ESG on the Framework and has confirmed its alignment with the International Capital Mar...