Human progress and economic demand drive the world’s growing energy needs and fossils fuels will continue to play an important part in meeting these needs. The provision of affordable and ever-cleaner energy is essential for tackling poverty and inequality, safeguarding the natural environment and promoting human prosperity. The provision of clean and affordable energy is a key element in meeting the United Nations Sustainable Development Goals.
Global action as set out in the Paris Agreement, and the overall shift towards other energy sources, presents the oil industry, and the wider world, with fundamental new challenges. Demand for oil and gas will require continued investment even under aggressive low-carbon scenarios. The challenge is how to meet the world’s demand for energy whilst minimizing impacts to the global environment.
Africa Oil Corp. (“Africa Oil”) is committed to undertake its business in a safe and environmentally responsible manner. We recognize that oil and gas activities can impact the global environment due to the emission of greenhouse gases. We are committed to protecting and sustaining the environment and seek to minimize our impacts in line with the Paris Agreement.
Our goal is to integrate the monitoring, management and reporting of greenhouse gas emissions into our activities, strategy and decision-making.
Where we are an Operator, we assume directly the responsibilities set out in this Policy.
Where we do not have operational control, we encourage, support and work with our operating partners to minimize, and where possible eliminate, regular gas flaring in line with the World Bank “Zero Routine Flaring by 2030” initiative.
This Policy will be reviewed on a regular basis to ensure that it continues to support and encourage a high standard of environmental performance on our projects.
Africa Oil’s Chief Operating Officer has overall responsibility for the implementation and enforcement of this Policy.
Senior leadership within Africa Oil and its subsidiaries are accountable for the implementation of and adherence to this Policy.
Adopted by the Board on May 6, 2021