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Values Matter
Sustainability Report
Values Matter
2016 Sustainability Report
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2017

Environment Dashboard

6.1 Ensure the availability and sustainable management of water for all

We focus on water stewardship, both in our marine environments (6.6) and from a conservation perspective (6.4). We report on water metrics (6.3), and we participate in multi-stakeholder partnerships (6.1 & 17.17)


7.2 Increase the share of renewable energy in the global mix

7.3 Reduce energy consumption

Vermilion is developing expertise in geothermal energy projects while also focusing on reducing energy consumption through infrastructure renewal in all of our business units.


12.1 Ensure sustainable production patterns

12.2 Achieve the sustainable managmeent and efficient use of natural resources

 12.6 Encourage companies to adopt sustainable practices and integrate sustainability information into their reporting cycle

We are incorporating sustainable development into our business strategy (12.1), striving for increased energy efficiency (12.2) and expanding our sustainability reporting (12.6)


13.1 Combat climate change

We are proactively identifying risks and opportunities, reporting on emissions and other key data, setting internal carbon prices, and working on target setting. 


14.1 Conserve and sustainably use the oceans for sustainable development

14.2  Sustainably manage marine and coastal ecosystems

We comply with or exceed regulations regarding wastewater and marine environment management, proactively improving western Australia’s capacity for oiled wildlife recovery.


SDG 15.1 Protect, restore and promote sustainable use of terrestrial ecosystems

15.5 Take urgent action to reduce or halt biodiversity loss

Vermilion has environmental impact assessment procedures that comply with or exceed all regulations in our business units, and we proactively work to ensure our operations protect local biodiversity 

2016-2017 Updates

Strong CDP Results

Vermilion’s performance in the annual CDP scoring, which consistently places us far above our peer group, demonstrates the focus we have placed on understanding and managing the impact our operations and projects have on climate change. This is a significant achievement for a company of our size, and reflects the efforts from our HSE and Operations teams worldwide to increase energy efficiency and decrease greenhouse gas emissions, and to develop and implement renewable energy projects that support a circular economy.

Decreasing Emissions Intensity

We use both absolute and intensity metrics to assess our performance (see Performance Metrics). Our emissions intensity provides an important benchmark, as it confirms that even as we increase production, we are decreasing the greenhouse gas emissions of each barrel of oil equivalent that we produce. 

*Operated business unit production within our GHG reporting scope

Meeting Our Targets

To date, we have focused on testing our ability to meet absolute targets based on our performance via operational activities. The following targets have been critical in this process, and have contributed to our strong CDP performance.

Category

Target

Progress

Scope 1 – flaring and venting

Set in 2014: Reduce flaring emissions at our light-oil assets in southeast Saskatchewan acquired in 2014 by 50% by 2020

Above Target: Achieved 75% reduction in annual emissions (from 193,999 tCO2e in 2014 to 47,640 tCO2e in 2016)

Scope 1 – flaring and venting

Set in 2014: Reduce flaring emissions at one of our major facilities in France by 65% by 2015

On Target: Achieved 65% reduction in emissions (avoiding the flaring of 14,500 tCO2e annually) by implementing a gas export system

Scope 2 - renewable energy

Set in 2015: Exceed 5% of our total power consumption coming from renewable sources (and replacing traditionally generated electricity) by 2017

Above Target: Reduced Scope 2 emissions in The Netherlands from 41% of our 2015 gross Scope 2 emissions to 2% of our 2016 gross Scope 2 emissions through the purchase of 100% green power beginning on January 1, 2016, from our largest power provider in our Netherlands Business Unit. This represents an estimated 39,145 tCO2e avoided annually based on 2015 emission intensity levels for purchased energy and 2016 energy consumption.

Renewable Heat Energy Target

Set in 2015: Generate 31,380MWh of renewable geothermal energy annually in our France Business Unit from our Parentis battery’s tomato greenhouse project until at least 2035

Above Target: 2016 production was 47,093 MWh of geothermal energy

Renewable Heat Energy Target

Set in 2016: Begin generating renewable geothermal energy annually in France from our La Teste ecohousing site in 2017

Progressing toward Target: ecohousing geothermal heat technology installed, first 150 housing units in place November 2016

Emissions Intensity

Set in 2016: Top quartile emissions intensity (lowest emission rate on a per BOE basis) when compared against our peer group annually

On Target: Vermilion’s emissions reduction initiatives and activities have resulted in top quartile performance in our peer group.

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Vermilion Energy