APA Corporation Unveils 2023 ESG Targets

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by KnowESG,

APA Corporation

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Image courtesy of www.apacorp.com

APA Corporation has unveiled its 2023 short- and long-term environmental, social, and governance (ESG) goals, which will determine employee incentive compensation based on performance metrics.

The newly announced goals represent a significant step forward and an expansion of APA Corporation's previous ESG efforts, particularly in relation to workforce safety and environmental stewardship.

“Our ESG goals are ambitious and underpin a strategy to concentrate efforts around the areas where we can have the most beneficial and direct impact: air, water, and communities and people,” said John J. Christmann IV, APA’s CEO and president. “As we rise to the challenge of providing affordable and reliable products to meet the world’s energy demand, APA will strive to always do so in a safe, responsible, and sustainable manner.”

Short-term goals for year-end 2023 (incentive compensation tied to these goals):

  • Safety: Achieve a Severe Incident Rate at or below 0.028; Increase safety observation rate and actions by 10%.

  • Air: Reduce methane emissions in U.S. onshore operations by converting more than 2,000 pneumatic devices to instrument air or through valve retrofit.

  • Water: Utilise at least 50% recycled, produced water for completions in U.S. onshore operations.

Long-term goals:

  • Reduce Scope 1 greenhouse gases (GHG) intensity by 10-15% by 2030, with a near-term compensation-linked milestone to reduce at least 5% by 2025.

  • Accelerate the reclamation of more than 150 plugged and abandoned (P&A) sites in U.S. onshore operations by year-end 2025.

For more information on APA Corporation's ESG efforts, visit their website: www.apacorp.com/sustainability.

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Source: APA Corporation

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