North Sea operator Neptune Energy has received its best environmental, social and governance rating to date.
Sustainalytics’ latest evaluation of global oil and gas players ESG credentials puts the Neptune in the top 3% of all companies.
That means it is ahead of numerous North Sea counterparts, including Shell, Enquest, BP, Tullow, Harbour and CNOOC.
Neptune’s rating of 21.4 was awarded in recognition of its enhanced disclosure and performance across a range of areas including greenhouse gas risk management, equality, diversity and inclusion, and community involvement.
In its latest ESG rating report, Sustainalytics praised the company’s ESG reporting for being “in line with best practice standards”.
It stated: “It has an executive-level ESG committee responsible for ESG issues. Furthermore, management integrates climate transition risks into the wider business processes. Neptune Energy’s GHG reduction management programme integrates initiatives to reduce emissions as well as key mitigation technologies. The company’s overall management of material ESG issues is strong.”
Neptune’s head of ESG, Kate Niblock, said: “This year’s ESG rating upgrade from Sustainalytics is testament to how we have been delivering against our ESG strategy.
“During 2022, we took actions to improve what we do and how we do it, including setting out our lower carbon ambitions and launching our goal to achieve gender parity. As we progress our ESG roadmap to 2025, our focus will be on delivering our human rights programme and working with partners and suppliers on emissions reduction.”
Sustainalytics’ ESG Risk Rating measures the degree to which a company’s economic value is at risk in relation to a broad range of ESG factors.
Global investors use its analysis when developing and implementing responsible investment strategies.
Neptune’s latest rating also recognises the company’s alignment with global organisations and international standards including the Task Force on Climate-related Financial Disclosures, the UN Global Compact and the Extractive Industries Transparency Initiative.
