EagleClaw Midstream Targeting Net Zero GHG Emissions by 2050
EagleClaw Midstream announced it has issued its first Environmental, Social and Governance (ESG) report and identified bold steps in its plan to achieve net zero greenhouse gas emissions by 2050. This plan will position EagleClaw Midstream to be an industry leader in sustainability and the ongoing energy evolution.
“We are delighted to share news of our sustainability progress in our inaugural ESG report,” said Jamie Welch, President and CEO of EagleClaw Midstream. “We are grateful to have incredibly talented and committed employees, suppliers and customers who all share our vision of working together to collectively stem the impacts of climate change for future generations.”
Company Charts Course to Improve ESG Performance
Although EagleClaw Midstream began reporting ESG results in 2020, efforts were put in place years prior to build robust data gathering, analysis and reporting capabilities to be able to publish this year. Welch noted the Company will continue to pursue innovative and creative ideas that meaningfully improve its short- and long-term performance in addition to creating additional metrics to track performance.
The Company has worked with employees across the organization to develop its roadmap to improve its ESG performance. To achieve its carbon neutrality and methane intensity goals, the Company intends to amongst others:
- Migrate a significant portion of its company vehicle fleet to electric vehicles over the next several years;
- Invest further in emissions monitoring, control and reduction equipment;
- Expand use of electric compression across its system where feasible; and,
- Explore potential application for a grant from the Department of Energy to evaluate carbon capture technologies to utilize and eventually deploy to achieve net zero carbon emissions.
Beyond these investments in its operations, EagleClaw Midstream pays market competitive salaries and bonuses. In addition, EagleClaw Midstream will implement in 2022 a new performance bonus structure for all its employees, tying 20% of bonuses to the achievement of ESG goals.
EagleClaw Midstream recently formed a Carbon Reduction Task Force to identify solutions to further reduce the company’s carbon footprint toward its long-term goal of net zero GHG emissions by 2050. Welch said the team includes experts in tax, safety and environmental compliance, finance, commercial, accounting, legal, operations, engineering and sustainability, thus bringing a multi-disciplinary approach to this complex challenge.
EagleClaw Midstream expects to achieve single-digit reductions in its carbon emission level by 2025 compared to its 2020 base year. Lowering its carbon output will result from new technology and operational practices to be put in place.
EagleClaw Midstream also will participate in the ONE Future report for 2021, adding even greater transparency as to its progress in reducing methane emissions.
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