CALGARY, AB, May 2, 2022 /CNW/ - SECURE ENERGY Services Inc. ("SECURE", the "Corporation", "we" or "our") (TSX: SES) announced today the release of its 2021 Sustainability Report outlining the Corporation's environment, social and governance (ESG) performance progress. This report is the first combined report for SECURE following its merger with Tervita Corporation on July 2, 2021.
"Embedding ESG factors into our business is a core element of our corporate strategy," said Rene Amirault, President and CEO. "We recognize that our long-term success goes beyond the financial metrics of our business, and we focus on connecting our strong employee culture with our corporate strategies to drive improved ESG performance. Leading safety practices, strong governance, minimizing environmental impacts, and making positive contributions in the communities where we live and work continue to drive SECURE's initiatives."
- Reiterate our goal of achieving Net-Zero greenhouse gas (GHG) emissions by 2050
- Short-term target of reducing GHG emissions intensity by 15% by the end of 2024
- Evaluating opportunities to participate in carbon capture and sequestration
- Targeting 5% reduction in freshwater water usage in 2022
- Lowered GHG energy intensity across our business lines by approximately 9% compared to 2020 despite increased activity;
- Reduced Scope 1 and 2 GHG emissions by 12% and 4%, respectively;
- Our recovery processes and pipelines resulted in the avoidance of 128,240 tonnes of CO2e, enough to offset all our Scope 1 emissions;
- Continued our Indigenous Relations partnerships, worked with 89 Indigenous suppliers and invested $10.5 million with Indigenous businesses;
- Installed temporary caps at certain landfill cells to reduce leachate generated and its associated environmental impact;
- Maintained the number of women on the Board of Directors at 25%; achieving our set target in 2021
- Appointed an independent director as Chairman of the Board; and
- Appointed Rhonda Rudnitski as Vice President, Environment, Social and Governance, a newly established senior leadership position that affirms the Corporation's commitment to sustainability.
SECURE is a dedicated sustainability partner to our customers and we work collaboratively to challenge what's possible to develop innovative solutions that are both cost effective and minimize environmental impacts while providing community benefits. The 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 2021, we helped our customers accomplish the following:
- At our 61 Midstream Processing Facilities, 1.6 million barrels of crude oil were recovered from customer waste. Since 2018, SECURE has avoided the generation of 164,258 tonnes of CO2e by recovering crude oil from waste;
- Treated over 41,000 tonnes of contaminated soil on our customers' sites and reclaimed over 300 hectares of land; and
- At our five metal recycling facilities, over 197,000 tonnes of scrap metal were recycled in 2021, avoiding 86,816 tonnes of greenhouse gas emissions by recycling.
SECURE's 2021 Sustainability Report was prepared in accordance with Global Reporting Initiative (GRI) Standards, Sustainability Accounting Standards Board (SASB) and the United Nations Sustainable Development Goals (SDGs). SECURE plans to report within the Task Force on Climate-Related Financial Disclosure framework and release a Climate Action Plan by the end of 2022 to build on the previously released Climate Policy.
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 "achieve", "advance", "anticipate", "believe", "can be", "capacity", "commit", "continue", "could", "deliver", "drive", "enhance", "ensure", "estimate", "execute", "expect", "focus", "forecast", "forward", "future", "goal", "grow", "integrate", "intend", "may", "maintain", "objective", "ongoing", "opportunity", "outlook", "plan", "position", "potential", "prioritize", "realize", "remain", "result", "seek", "should", "strategy", "target" "will", "would" and similar expressions, as they relate to SECURE, its management, or the combined company, are intended to identify forward-looking statements. Such statements reflect the current views of SECURE and speak only as of the date of this press release.
In particular, this press release contains or implies forward-looking statements pertaining but not limited to: SECURE's ability to deliver strong financial results and returns to our shareholders; SECURE's ESG targets and plan, ability to achieve such targets and the timing thereof including the timing of its Climate Action Plan report; SECURE's minimization of the environmental impact of its operations; SECURE's ability to make or continue to make positive contributions in the communities; SECURE's goal to achieve net-zero GHG emissions by 2050, and the roadmap to achieve such goal, including the reduction of absolute GHG emissions by 15% by the end of 2024, and 5% reduction of freshwater usage in 2022; SECURE's evaluation of opportunities regarding carbon capture and sequestration; SECURE's ability to execute on its environmental performance improvement initiative.
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, 2021, 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 applicable securities laws, SECURE does not intend, or assume any obligation, to update these forward-looking statements.
SECURE is a publicly traded energy infrastructure and environmental business listed on the Toronto Stock Exchange ("TSX"). SECURE provides industry leading midstream infrastructure and environmental and fluid management to predominantly upstream oil and natural gas companies operating in western Canada and certain regions in the U.S.
SECURE's Midstream Infrastructure business segment includes a 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 midstream infrastructure operations generate cash flows from oil production processing and disposal, produced water disposal, and crude oil storage, logistics, and marketing.
SECURE's Environmental and Fluid Management business segment includes a network of industrial landfills, hazardous and non-hazardous waste management and disposal, onsite abandonment, environmental solutions for site remediation and reclamation, bio-remediation and technologies, waste treatment & recycling, emergency response, rail services, metal recycling services, as well as fluid management for drilling, completion and production activities.
SOURCE SECURE Energy Services Inc.
