Neptune Energy receives industry-leading ESG rating

World Oil Staff May 09, 2023

(WO) – Neptune Energy has received its best environmental, social and governance (ESG) rating to date from Sustainalytics, putting it in the top 3% of all global oil and gas companies rated by the organization.

Neptune’s industry-leading rating of 21.4 was awarded in recognition of its enhanced disclosure and performance across a range of areas including greenhouse gas risk management, equality, diversity and inclusion and community involvement.

In its latest ESG rating report, Sustainalytics stated Neptune’s ESG reporting “is in line with best practice standards. It has an executive-level ESG committee responsible for ESG issues. Furthermore, management integrates climate transition risks into the wider business processes. Neptune Energy’s GHG reduction management program integrates initiatives to reduce emissions as well as key mitigation technologies. The company’s overall management of material ESG issues is strong”.

Neptune’s Head of ESG, Kate Niblock, said, “During 2022, we took actions to improve what we do and how we do it, including setting out our lower carbon ambitions and launching our goal to achieve gender parity. As we progress our ESG roadmap to 2025, our focus will be on delivering our human rights program and working with partners and suppliers on emissions reduction.”

Sustainalytics’ ESG Risk Rating measures the degree to which a company’s economic value is at risk in relation to a broad range of ESG factors. Global investors use its analysis when developing and implementing responsible investment strategies.

Neptune’s latest rating also recognizes the company’s alignment with global organizations and international standards including the Task Force on Climate-related Financial Disclosures, the UN Global Compact and the Extractive Industries Transparency Initiative.

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