CALGARY, AB, March 1, 2021 /CNW/ - SECURE ENERGY Services Inc. ("SECURE", the "Corporation", "we" or "our") (TSX: SES) announced today that the Corporation's 2020 Sustainability Report can be found on the Corporation's website.
"Integrating environmental and social considerations is a key element of our corporate strategy," said Rene Amirault, Chairman, President and CEO. "We recognize the diverse needs of our stakeholders and aim to not only deliver strong financial results and returns to our shareholders, but to minimize the environmental impact of our operations, and positively contribute to the health, safety, and economic wellbeing of our employees and the communities where we live and work."
The 2020 Sustainability Report features the Corporation's performance in 2020 related to critical environmental, social and governance ("ESG") issues and highlights SECURE's commitments to sustainability, the positive impacts made by our ongoing initiatives, and information on how we continue to refine our sustainability strategies and processes.
2020 ESG Highlights:
Environment
- Progressed a road map for achieving long-term emissions performance targets established last year of reducing our carbon intensity in half by 2030, and achieving net zero emissions by 2050;
- Introduced an environmental performance improvement initiative to reduce our power requirements, energy usage and emissions at Midstream Infrastructure facilities;
- Reduced scope 1 greenhouse gas ("GHG") emissions for the fourth consecutive year, both on an absolute and intensity basis;
- Started tracking and reporting on scope 2 GHG emissions.
Social
- Achieved our top safety record in four years;
- Formalized an Indigenous Relations policy and advanced community engagement practices;
- Introduced a Supplier Code of Conduct extending our shared values and sustainability commitments to all vendors, contractors and consultants employed by the Corporation;
- Formalized a long-term partnership with STARS Air Ambulance to further enhance our safety culture and commitment to communities in which we operate.
Governance
- Established an internal sustainability governance structure, with employees leading initiatives for improved ESG performance;
- Increased the amount of women on the Board of Directors to 25%, exceeding our diversity target;
- Linked executive compensation targets to key corporate sustainability goals.
The Corporation is dedicated to creating value for our customers by providing innovative solutions that help reduce costs and the environmental impact associated with delivering energy to the world. The midstream infrastructure and environmental solutions we provide are designed not only to help reduce costs, but also lower emissions, increase safety, manage water, recycle by-products and protect the environment. During 2020, the Corporation:
- Added a second oil pipeline, providing capacity to displace 15,000 barrels per day of oil and condensate previously trucked off the road;
- Shipped over 3 million m3 of oil and water via SECURE pipelines, reducing GHG emissions by 37 kilotonnes of CO2e;
- Safely disposed of 4,625,000 m3 of processed water through deep injection and 961,000 tonnes of solids into our engineered industrial landfills;
- Recovered 96,000 m3 of crude oil through our processing activities;
- Excavated over 163,000 tonnes of contaminated soil and reclaimed over 150 hectares of land for our customers;
- Recycled over 71,000 tonnes of scrap metal through our environmental work in Fort McMurray.
Rene Amirault added, "We believe that our sustainability strategies will further increase the efficiency and safety of delivering energy to the world, while minimizing the associated environmental impact. Canada is a leader in ESG standards, and we are proud to play a role in delivering Canadian energy to the world, so people and communities thrive."
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release constitute "forward-looking statements" and/or "forward-looking information" within the meaning of applicable securities laws (collectively referred to as "forward-looking statements"). When used in this press release, the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "continues", "maintains", "target" and similar expressions, as they relate to SECURE or its management, are intended to identify forward-looking statements. Such statements reflect the current views of SECURE with respect to future events and operating performance and speak only as of the date of this press release.
In particular, this press release contains or implies forward-looking statements pertaining to: our ability to create value for our customers by providing cost effective and environmentally responsible solutions; our ability to deliver strong financial results and returns to our shareholders; the minimization of the environmental impact of our operations; our positive contributions to the health, safety and economic wellbeing of our employees and communities; our commitments to sustainability, the positive impacts of our ongoing ESG initiatives, and the continued refinement of our sustainability strategies and processes; the ability of our sustainability strategies to increase the efficiency and safety of delivering energy to the world, while minimizing the associated environmental impact; the ability of our midstream infrastructure and environmental solutions to help reduce costs, lower emissions, increase safety, manage water, recycle by-products and protect the environment; the implementation and effect of internal programs and platforms relating to ESG performance; our ability to develop, invest in and implement new practices and technologies to achieve our environmental objectives, including reducing our carbon intensity by 50% by 2030 and achieving net zero emissions by 2050; the implementation of GHG emissions reduction strategies; our ability to execute on our environmental performance improvement initiative; and Canada's ESG standards.
Forward-looking statements are based on certain assumptions that SECURE has made in respect thereof as at the date of this press release regarding, among other things: the impact of COVID-19 and governmental responses thereto on economic conditions, commodity prices and the Corporation's business and operations; the impact of lower global energy pricing on oil and gas industry exploration and development activity levels and production volumes (including as a result of demand and supply shifts caused by COVID-19 and the actions of OPEC and non-OPEC countries); the success of SECURE's operations and growth projects; the Corporation's competitive position remaining substantially unchanged; that future acquisition and sustaining costs will not significantly increase from past acquisition and sustaining costs; that counterparties will comply with contracts in a timely manner; that there are no unforeseen events preventing the performance of contracts or the completion and operation of the relevant facilities; that there are no unforeseen material costs in relation to the Corporation's facilities and operations; that our contractor management system will identify vendors that meet our safety standards; and that prevailing regulatory, tax and environmental laws and regulations apply.
Forward-looking statements involve significant known and unknown risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. Readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the results discussed in these forward-looking statements, including but not limited to those factors referred to under the heading "Risk Factors" in our Annual Information Form for the year ended December 31, 2020, which is available on SEDAR at www.sedar.com.
Although forward-looking statements contained in this press release are based upon what the Corporation believes are reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements in this press release are expressly qualified by this cautionary statement. Unless otherwise required by law, SECURE does not intend, or assume any obligation, to update these forward-looking statements.
ABOUT SECURE
SECURE is a publicly traded energy business listed on the Toronto Stock Exchange providing industry leading customer solutions to upstream oil and natural gas companies operating in western Canada and certain regions in the United States through its network of midstream processing and storage facilities, crude oil and water pipelines, and crude by rail terminals located throughout key resource plays in western Canada, North Dakota and Oklahoma. SECURE's core midstream infrastructure operations generate cash flows from oil production processing and disposal, produced water disposal, and crude oil storage, logistics, and marketing. SECURE also provides comprehensive environmental and fluid management for landfill disposal, onsite abandonment, remediation and reclamation, drilling, completion and production operations for oil and gas producers in western Canada.
TSX Symbol: SES
SOURCE SECURE Energy Services Inc.
