North Sea operator Neptune Energy has received recognition for its strong environmental, social and governance (ESG) performance and strategy.
Sustainalytics has upped the company’s ESG rating to 23.2, putting it in the top 3% of all oil and gas companies.
In its ESG rating report, Sustainalytics, part of financial services firm Morningstar, praise Neptune for its “overall ESG-related disclosure” that “follows best practice, signalling strong accountability to investors and the public”.
Neptune employs an ESG Committee to oversee issues related to responsible management, “suggesting that these are integrated in core business strategy”, the research body said.
It added “the company’s overall management of material ESG issues is strong”.
Sustainalytics’ ESG Risk Rating measures the degree to which a company’s economic value is at risk as a result of ESG factors.
Its analysis is used by global investors in the development and implementation of responsible investment strategies.
Neptune’s ESG strategy sets out its ambitious target to store more carbon than is emitted from its operations and the use of its sold products by 2030.
It is aligned with the UN Sustainable Development Goals.
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