Our ESG Strategy is world class and is in line with investor sentiment and requests
Gulf Energy intends to set a benchmark for corporate commitment to the Paris Agreement and the United Nations Sustainable Development Goals.
Soaring energy prices highlight the challenges of shifting towards all renewable power sources due to the misalignment of timing, resources and technology.
Forecast supply deficiency of gas during the transition phase raises complex questions about balancing environmental needs and societal expectations on the journey to a net-zero world.
Gulf Energy is committed to being at the forefront of ESG & Sustainability criteria and practices.
The Gulf Energy ESG Strategy is based on the criteria, goals and principles encapsulated by:
• the Paris Agreement;
• the United Nations Sustainable Development Goals;
• the United Nations Global Compact; and
• applicable laws, regulations and industry guidelines.
Gulf Energy’s ESG Strategy is focused on the overarching priorities of environmental management, greenhouse gas reduction, employee health and safety, workforce management and equality, community and First Nations engagement, and strong corporate governance and ethics.
Gulf Energy is committed to working towards a sustainable future and operating in a responsible manner across all its operations including land and marine management activities and will strive to uphold the highest standards of ethics, transparency, and accountability, and it is understood that the long-term value and viability of Gulf Energy is dependent on these commitments.
Gulf Energy aims to be a Net Zero Scope 1 and 2 equity emissions energy company from first commercial production of natural gas
The greenhouse gases that are reported under the National Greenhouse and Energy Reporting (NGER) scheme include carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), sulphur hexafluoride (SF6) and specified kinds of hydro fluorocarbons and perfluorocarbon.
Gulf Energy will achieve Net Zero emissions by utilising technology, such as gas pipelines, production facilities, renewables, batteries, and Carbon Capture Usage and Storage (CCUS) and through implementing best operating practices to reduce GHG emissions. High-quality carbon offsets will be used to reduce any residual GHG emissions.
Policy support, along with technology advancements, can and will accelerate development and deployment of lower-emission technologies necessary to arrive at a net-zero future. Gulf Energy consistently advocates for sound government policies like enhanced incentives for carbon capture usage and storage, and hydrogen production.
Gulf Energy supports market-based, technology-neutral policies that recognize the value of addressing full life-cycle emissions versus focusing solely on Scope 3 emissions, thereby incentivizing companies to take actions that reduce emissions, while still meeting the world’s demand for essential energy and products.