Tullow is committed to acting as a responsible steward of the environment and ensuring robust systems are in place for assessing and managing environmental risk.
We subscribe to the precautionary principle established in the Rio Declaration on Environment and Development in 1992 and promote sustainable development through our operations. Our corporate headquarters are certified to ISO 14001 Environmental Management System, ensuring that the systems and processes which we apply to our business are consistently maintained. We aim to comply with all environmental laws and regulations in all the countries in which we operate.
As an oil and gas company, our major impacts are the greenhouse gas (GHG) emissions we emit that contribute to global warming and the direct impact in our areas of operations. We regularly disclose our actions and performance in these areas. Additionally, we aim to minimise our impacts relating to water and waste as well as any unplanned releases or spills to the environment.
“Tullow supports the goals of Article 2 of the Paris Agreement and recognise, in doing so, the need to play our part in global carbon emissions peaking as soon as possible and then declining to reach net zero in the next 30-50 years” – Dorothy Thompson, Executive Chair
In 2018, we undertook a series of benchmarking exercises to assess and review our position regarding climate change in line with the Task Force on Climate-related Financial Disclosures (TCFD) framework. The results of this analysis were discussed with the Executive Team and, in 2019, we put in place plans to improve our operational performance and transparency regarding climate resilience. The plans included operational reviews of the sources of emissions and opportunities for reduction in our Ghana operations.
Key elements of our TCFD
Tullow recognises that climate change and the decarbonisation of the global economy represent fundamental strategic risks to our business. We are therefore proactively taking action to mitigate these risks by:
- complying with emerging climate change legislation and regulation and reducing our GHG emissions as far as is reasonably practical;
- minimising the GHG emissions potential of our activities and implementing reduction initiatives;
- adopting a business strategy that is responsive to applicable regulatory developments designed to address climate change; and
- maintaining transparency and openness in our engagement about climate change.
Our Executive Chair, Dorothy Thompson, is currently designated as the owner of climate-related risk. The Board of Directors approves and authorises Tullow’s carbon management and performance, including targets for emissions reductions, and receives updates relating to host governments’ energy transition and climate resilience plans as well as requests for support for private sector initiatives in those countries.