Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange (NSE), and the London Stock Exchange (LSE) says it is strongly committed to deploying resources and expertise to create and deliver sustainable value to meet the expectations of its various stakeholders through a responsible approach in the management of the Company’s Environment Social, and Governance (ESG) imperatives.
The company is committed to driving operational excellence in optimizing benefits to society and minimizing the negative impacts of its activities whilst making significant contributions towards sustainable development and pursuing continuous improvements in its Key Performance Indicators (KPIs) to ensure a better world without losing focus on the future generations.
The Chief Executive Officer at Seplat, Mr. Roger Brown, said this at the Facts Behind the Sustainability Report presentation made to the Nigerian Stock exchange (NSE) on Tuesday in a virtual session.
According to Brown, Seplat’s sustainability policy is based on the following principles: Commitment to transparent and complete disclosure of our ESG performance; encouraging responsible use of resources – energy, water and others; implementing human rights and gender equality; needs assessment of stakeholders to identify appropriate solutions; considering natural and cultural circumstances of SEPLAT’s host communities in the implementation of CSR initiatives; and setting science-based targets to deliver on environmental footprint.
“We adopt an inclusive stakeholder management approach; integrate sustainability into our core business model and strategy; embed Sustainability concept and practice companywide; operate the highest standard of corporate governance; leverage on stakeholder engagement in determining materiality; and exhibit a strong belief in our shared Value philosophy,” he added.
He noted that the Company is strongly driving Nigeria’s transition to gas, delivering significant environmental, economic and social benefits that support United Nations Sustainable Development Goals.
On the company’s response to Climate Change, he said the company was strongly adhering to its flare out campaign to reduce carbon footprint, and has gone ahead to established a science-based assessment of our Greenhouse Gases emissions and reporting, adding that Seplat was currently investing in new infrastructure and R&D to help capture some of the emissions not previously reported.
“We are developing a Carbon Calculator for continuous sustainable deployment to highlight the most negative carbon emission activities. Our investments in gas at Oben, Sapele and ANOH is aimed at reducing GHG emissions.
“Seplat has created a new energy group to manage our midstream gas business and explore the adoption of renewable energy,” the statement of Seplat on Thursday quoted Mr, Brown as saying
According to him, over the years, Seplat has: improved economic empowerment of women and youths with customised empowerment programme; sustained skills acquisition programme for youths in its communities whilst creating jobs and developing local suppliers.
The company has also improved access to quality education through customized CSR programmes, improved community infrastructure development, engaged 534 employees in its Nigerian and UK locations.
In his address, Mt. Oscar Onyema, the NSE Chief Executive Officer, congratulated Seplat CEO and the company for the robust achievements and strides in the sustainability journey.
The NSE CEO, who urged companies to learn from Seplat, said reporting sustainability could help organisations create a sustainable future.
Onyema noted that there is a recognized need for enhanced levels of corporate transparency on Environment, Social and Governance (ESG), and as an exchange “we are well positioned to encourage and even require listed companies to produce better sustainability reports that are issued consistently and with comparable information”.
GIK/APA