Natural Resources Management
We aim to reduce the environmental impact of our operations. Our key focus areas are water use, environmental degradation caused by oil spills, biodiversity, waste, and the circular economy.
We manage these topics through a Group-wide approach supported by general and issue-specific regulations to ensure consistent processes.
Environmental compliance
We recognize that our activities can impact the environment. Non-compliance with applicable environmental regulations at national or international level may lead to financial penalties, reputational impacts, and risks to our license to operate.
Our Environmental Management Standard requires:
- Strict compliance with all relevant environmental laws and regulations
- Identification of all environmental requirements
- The development and maintenance of comprehensive legal compliance databases
- Aligning our practices with applicable environmental standards and recognized industry practices
- Establishing programs to support compliance and reduce related financial risks
- The assessment of environmental impacts and risks
- Adherence to environmental performance standards related to energy, emissions, water, raw materials, waste, hazardous substances, and the protection of biodiversity and ecosystems
Environmental Risk
Our approach to environmental risks covers those that are regulatory, operational, reputational, and financial in nature. The majority are linked to climate change, water, or energy. We manage these risks using our Enterprise-Wide Risk Management (EWRM) framework.
We use digital tools, including the Active Risk Manager System (ARMS), to monitor and manage environmental risks. ARMS helps us integrate environmental risk scenarios into our broader approach to HSSE and business risks. Defined policies and responsibilities support risk control and mitigation at different organizational levels.
We take a structured approach to risk evaluation. Strategic issues, such as those related to climate change and water scarcity, are assessed using a top-down process, while a bottom-up process is used to assess issues that arise at an operational level, including legal compliance risks.
Before starting new projects or entering new countries, we conduct environmental risk assessments that consider local legislation and potential impacts on sensitive or protected areas and species. These assessments continue throughout the project lifecycle.
More information