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Baytex Releases 2022 ESG and TCFD Reports
Calgary, Alberta--(Newsfile Corp. - July 27, 2023) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) t...
About this update from Baytex Energy Corp.
[{"type":"text","content":"Baytex Releases 2022 ESG and TCFD ReportsCalgary, Alberta--(Newsfile Corp. - July 27, 2023) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) today released its 2022 Environment, Social and Governance (\"ESG\") Report, which demonstrates our commitment to transparency and accountability, and shows our progress in managing the environmental and social impacts of our business. Baytex has also released its Task Force on Climate-related Financial Disclosures (\"TCFD\") Report. Both reports are available on the Baytex website at www.baytexenergy.com.\"We are pleased to share Baytex's 2022 ESG and TCFD Reports. Our commitments drive us forward as we work to achieve our vision of being a leader in responsible energy development. We have built into our culture a strong connection and sense of responsibility to our communities and stakeholders. We remain focused on key ESG initiatives, including GHG emissions, abandonment and reclamation, strong and mutually beneficial indigenous relations, safety, and climate risk management. These ESG initiatives are essential to driving our long-term sustainability alongside shareholder returns,\" commented Eric T. Greager, President and Chief Executive Officer. 2022 HighlightsGHG Emissions Management. We continue to progress towards our 65% reduction target in our GHG emissions intensity (Scope 1 and Scope 2) by 2025, relative to our 2018 baseline. In 2022, we reduced our GHG emissions intensity a cumulative 59% from 2018 levels and 15% below 2021 levels. We have prioritized our GHG reduction activities on reducing methane emissions and achieved an 84% absolute reduction of methane emissions from our 2018 baseline.Land Stewardship. In 2022, we spent $22.4 million on abandonment and reclamation activities, including government grants. We completed the largest program in company history in 2022 with 397 well abandonments. We continue to work towards our target of restoring 4,500 inactive wells by 2040. Water Management. We are committed to pursuing water management strategies that minimize our fresh water use. In 2022, we reduced our fresh water intensity 17% from our 2020 baseline, largely due to efforts to replace fresh water with alternative sources in our completion operations. In 2022, we re-used approximately 67% of our produced water. Health and Safety. We continue to make safety a priority. We achie...