Energean: Best ESG Energy Growth Strategy Europe 2020
Committed to the sustainable development of energy resources along the Mediterranean and the North Sea, London-based Energean runs exploration, development and production projects in Egypt, Italy, UK, Greece, Croatia, Montenegro, Malta and Israel (where its flagship gas fields are located), inclusive of the acquisition of Edison E&P which is expected to be completed in 2020.
As a signatory of the UN’s Global Compact, Energean is striving towards a 2050 goal of net-zero emissions and contributing to the SDGs through operational excellence and sound corporate citizenry. It believes the SDGs can chart a path for building back better after the global pandemic, and has called on the UK’s Prime Minister to support socially just and green recovery plans. Sustainability unites the Energean ethos, as underscored by its 2019 performance report, where business outputs are visually stacked against SDG benchmarks.
Some highlights include better water efficiency (recycling 89% of water withdrawn at production sites) and an increased percentage of natural gas in its portfolio (more than 70% once its acquisition of Edison E&P completes). It achieved reductions in greenhouse gas emissions and non-renewable energy consumption and maintained a blemish-free record of emergency preparedness, regulatory compliance, community relations and occupational health and safety. Energean links executive incentive pay with performance on ESG targets, commits to transparent disclosure of emissions tracking and engages with organisations to precipitate the transition to a low-carbon future. Energean is listed on the London and Tel Aviv Stock Exchanges and included in the FTSE 250 Index.
The CFI.co judging panel is pleased to declare Energean as the 2020 Best ESG Energy Growth Strategy (Europe) award winner.
