Heritage Petroleum Environment, Social and Governance Report 2020 – 2021
Heritage Petroleum’s (“we”, “our”, “Heritage” or “the Company”) annual Environmental, Social, and Governance (“ESG”) Report describes our Sustainability/ESG efforts and performance from October 2020 to September 2021. To help frame the context of our journey to date and support our overall narrative, we have included select examples of key activities from our previous operating year (October 2019 to September 2020). These include some highlights of our efforts in response to the COVID-19 pandemic. It must be noted that as a Party to the United Nations Framework Convention on Climate Change (UNFCCC) and a ratified signatory to the Paris Agreement, the Government of the Republic of Trinidad and Tobago has committed to the following in its Nationally Determined Contribution (NDC):
An overall reduction in cumulative emissions from its three main emitting sectors (power generation, transport and industry) by 15% by 2030 from business as usual (BAU), equivalent to 103 MtCO2e, conditional on international financing
Unconditional reduction in public transportation emissions by 30% or 1.7 MtCO2e compared to 2013 levels by December 31, 2030
We are committed to contributing to the delivery of the national targets for reducing Greenhouse Gas (GHG) emissions.
As part of our commitment to accelerating progress on our key ESG areas of focus (protecting the environment, building community capacity, supporting economic development and empowering future leaders), we have undertaken a comprehensive review of our operations and systems referencing the updated 2021 Global Reporting Initiative (GRI) Index and the Sustainability Accounting Standards Board (SASB) Guidance to support data gathering, evidence-based insights and contextual framing as part of our reporting methodology.
Included throughout this report are disclosures containing relevant, industry-specific data and information but as a wholly government-owned, state enterprise we must exercise due diligence with certain confidential information.
Content within this report should not be considered a substitute for material information provided in our public disclosures with various governmental and industry bodies like the Ministry of Finance of Trinidad and Tobago and the Trinidad and Tobago Extractive Industries Transparency Initiative (TTEITI).
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