santos' sustainability report
The analyses give investors insights on the relative adequacy and alignment of company actions with the Paris Agreement goals. Seybert called it "disingenuous" to suggest that Santos' father and aunt might be endangered, noting that they came forward to offer help after the congressman's high-profile arraignment and expressed no concerns about guaranteeing bail. By accessing these assessments, you agree to be bound by the data usage, . By accessing these assessments, you agree to be bound by the data usage terms and conditions. Again, it does not represent modelled reductions in Santos Scope 1 and 2 emissions, but instead depends upon Santos receiving offsets for reducing its customers Scope 1 and 2 emissions through the sale of blue hydrogen. For more information on data collection and feedback, see the review and redress process. The Report outlines Santos' sustainability aspirations, targets and performance, as well as areas of ongoing focus. The level of a companys industry associations support for (or opposition to) Paris-aligned climate policy. In the Oil & Gas, Diversified Mining and Automobiles sectors, Scope 3 emissions are included in the assessment of Metrics 2.3, 3.3 and 4.3. The companys executive remuneration scheme incorporates climate change performance elements. The long-term (2036 to 2050) GHG reduction target covers at least 95% of scope 1 & 2 emissions and the most relevant scope 3 emissions (where applicable). Photograph:. 2022 Santos Half-year Results Announcement and Presentation. 2021 Sustainability Report - Santos. The company has set a target for reducing its GHG emissions by between 2036 and 2050 on a clearly defined scope of emissions. Beta = data collected, but not publicly assessed. That analysis is based on data obtained from the Rystad UCube database. The company has set a target for reducing its GHG emissions up to 2025 on a clearly defined scope of emissions. The company has committed to implement the recommendations of the Task Force on Climate related Financial Disclosures (TCFD). It also includes the companys own response, for example any emissions targets set and the companys strategy for decarbonisation. The company has explicitly referenced the Paris Agreement on Climate Change and/or the International Labour Organisations (ILOs) Just Transition Guidelines). *, Medium-term (2026-2035) GHG reduction target(s). Climate Change Natural gas is playing a key role in delivering a lower-carbon future More than ever, natural gas is a fuel for the future. Room VIII, Palais des Nations Geneva , Switzerland Add to Calendar Key Issues Documents Statements The 2023 Financing for Sustainable Development Report was issued by the UN Secretary-General's Inter-Agency Task Force on Financing for Development. It relies on company disclosures, combined with Carbon Trackers analysis. The content of this report is based on those sustainability issues deemed material through comprehensive stakeholder engagement and analysis. Gercino dos Santos and Elma Preven agreed to guarantee Santos' bail, after the first-term New York congressman pleaded not guilty last month to 13 criminal charges including fraud, money laundering and theft of public funds. The company explicitly commits to align its disclosures with the TCFD recommendations OR it is listed as a supporter on the TCFD website. Names of George Santos bond sponsors released | The Hill At the Sub-indicator level, the company receives a Yes on at least one Metric that makes up the Sub-indicator. InfluenceMap provides detailed analyses of corporate climate policy engagement and the alignment of company climate policy engagement actions (direct and indirect via their industry associations) with the Paris Agreement goals. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk Unknown Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. cut-off date and are not reflected in the current version of the company assessment. They were identified from the MSCI ACWI and based on CDPs 2015 modelled and reported emissions data. The company discloses the methodology and criteria it uses to assess the alignment of its capital expenditure plans with its decarbonisation goals, including key assumptions and key performance indicators (KPIs). Assessments of the companys publicly disclosed information against each indicator, sub-indicator, and metric provide information on the companys alignment with the Climate Action 100+ goals. "At Santos, sustainability is about creating a better world by providing long-term value for our stakeholders including our communities, Traditional Owners, Native Land Owners, landowner companies and groups, employees, partners, suppliers, customers and shareholders. This is in contrast to the March 2021 assessment for which this company was assessed against TPIs Below 2 Degrees Scenario. Sub-indicator 2.3 is not currently conditional on 2.1 or 2.2. We develop and improve policies and mechanisms to facilitate our decision making at all Net zero emissions would be reached by 2060. At the Sub-indicator level, the company receives a No for all Metrics that make up the Sub-indicator. These assessments reflect companies publicly disclosed information and impairment prices in annual reports up until 30 June 2021 and with oil and gas CAPEX model data from Rystad Energy as of March 2021. Santos Ltd - AnnualReports.com statement We acknowledge the Traditional Owners It is with great pleasure that I present the 2021. of the land on which our operations exist 3 CEO statement Santos Sustainability Report, demonstrating how the principles of Sustainability are critical to and on which we work. Relevance of scope 3 emissions affects the assessment of the following disclosure metrics: 1.1b, 2.2b, 3.2b, 4.2b, 5.1a, and 5.1b. *In the absence of a credible 1.5C scenario, companies have been measured against a best-available below 2C scenario. If a companys current emissions intensity is aligned with the assessment scenario used (or will be aligned in the short term), it is assumed that the intensity will continue to be aligned in the medium term. The company identifies the set of actions it intends to take to achieve its GHG reduction targets over the targeted timeframe. Some year-on-year scoring changes are therefore anticipated. Medium-term (2026 to 2035) GHG reduction target(s), Short-term (up to 2025) GHG reduction target(s), Decarbonisation Strategy (Target Delivery). The market capitalisation of each company was determined as of August 30th, 2022. Investors rely on company disclosures and have a right to complete, open and honest information relating to a company they are investing, or considering investing, in. These scores reflect InfluenceMaps assessment as of 24 January 2022.Up-to-date scores, which are refreshed on a continual basis, can be found here. This is in contrast to the 2021 release for which this company was assessed against TPIs Below 2 Degrees Scenario. These assessments from Carbon Tracker Initiative (CTI) and the Climate Accounting and Audit Project (CAAP) evaluate whether a companys financial statements and related disclosures, and the auditors report thereon, reflect the financial effects of climate risk and the global move onto a 2050 (or sooner) net zero greenhouse gas emissions pathway and the Paris Agreement goal of limiting global warming to no more than 1.5C. For this purpose, the company also maintains its Compliance Committee, with a proactive The result of this effort is the inclusion of shares from Santos Brasil in the debut portfolio of the S&P/B3 Brasil ESG Index, jointly elaborated by S&P Dow Jones Indexes and B3 S.A. 5.1 can be Yes and 2.3/3.3 No. 7.3.b should not be able to be Yes unless 7.3.a is also Yes). Download CTI and CAAPs Climate Accounting and Audit assessment methodology to learn more. Therefore, it is possible to have No on 4.1 but Yes on 4.3. Following a merger in December 2021, future engagement will be on the merged company, Santos, and future iterations of the Benchmark will only assess Santos. See sector-specific expectations in the Climate Action 100+ Global Sector Strategies. They provide independent evaluations of the alignment and adequacy of company actions with the goals of Climate Action 100+ and the Paris Agreement. strategy at Santos Brasil. DownloadCTIs oil and gas assessment methodologyto learn more. The audit report identifies inconsistencies between the financial statements and other information. Therefore, it is possible to have No on 2.1 but Yes on 2.3. The company discloses evidence of board or board committee oversight of the management of climate change risks via at least one of the following: There is a C-suite executive or member of the executive committee that is explicitly responsible for climate change (not just sustainability performance) and that executive reports to the board or a board level committee, and/or; The CEO is responsible for climate change AND he/she reports to the board on climate change issues, and/or; There is a committee (not necessarily a board-level committee) responsible for climate change (not just sustainability performance) and that committee reports to the board or a board-level committee. To be assessed as Yes, the company must have been assessed as Yes for Metric 1a. The financial statements demonstrate how material climate-related matters are incorporated. based on the standards established by the Mobiliary Values Commission (CVM). Download the complete set of focus company assessments in Excel format. The company employs climate-scenario planning to test its strategic and operational resilience. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Santos has opposed the document being made freely available on the Federal Court website. This Sub-indicator is based on TPIs carbon performance methodologies which apply the Sectoral Decarbonisation Approach. If a companys current emissions intensity is aligned with the assessment scenario used, it is assumed that the intensity will continue to be aligned in the short term. Santos seeks to work with contractors and suppliers who are economically, environmentally and socially responsible. These assessments reflect companies publicly disclosed information and impairment prices in annual reports up until 30 June 2022 and with oil and gas CAPEX model data from Rystad Energy as of May 2022. Net-zero GHG emissions by 2050 (or sooner) ambition. Presently, we rely on 150 employees involved in initiatives guided by our Volunteers Manual. The purpose is to identify whether commodity price risks have been priced into the companys upstream asset base. In order to be assessed as Yes on this Metric in the March 2022 and October iterations, companies must quantify the approximate proportion of emissions reduction each action in their decarbonisation strategy will contribute to their overall greenhouse gas reduction target. Respectively, 2.1/2. The use of offsetting or carbon credits should be avoided and limited, if at all applied. The audited financial statements and notes thereto incorporate material climate-related matters. climate transition plan, including a decision to split the business into two divisions (Upstream Gas & Liquids and Santos Energy Solutions) and progress at its flagship carbon capture and storage project. The project is expected to start producing oil in 2026, with expected capacity of 80,000 barrels a day. The financial statements disclose the quantitative climate-related assumptions and estimates. The project can therefore be paused or scrapped without incurring full project-related costs. This identifies if companies have recently sanctioned unneeded high-cost projects. Investment in human development, preservation of health and security of our stakeholders are some of the pillars of Santos Brasil. The company has set a target to increase the share of green revenues in its overall sales OR discloses the green revenue share that is above sector average. The criteria used to assess non-E.U. The framework reflects publicly disclosed information as of 13th May 2022 and is assessed by the Transition Pathway Initiative. B2DS is a rapid-transition scenario equivalent to an estimated 1.75C of global warming in this century (with an approximate 50% probability). net zero will be achieved in the short term). This calculation accommodates an assessment of the strength of the relationship between a company and an industry association, for example a stronger weighting will be attributed where a company has a representative on the board of an industry association. Yes (use of sold product - Category 11 of the GHG protocol). The medium-term (2026 to 2035) GHG reduction target covers at least 95% of Scope 1 & 2 emissions and the most relevant Scope 3 emissions (where applicable). This is captured by Indicators 2.3, 3.3 and 4.3. Following a merger between Santos and OilSearch in December 2021, future engagement will be on the merged company, Santos, and future iterations of the Benchmark will only assess Santos. We look forward to the courts review and adjudication of Santos conduct.. For example, a company with a 2030 target but no targets thereafter will have its 2030 data point compared with the benchmark value in 2050. Santos Ltd - ResponsibilityReports.com In addition to overall considerations, such as the companys ability to continue as a going concern, examples of relevant assets and liabilities include (but are not limited to): property plant and equipment (PPE) assets; goodwill and other intangible assets; inventory; asset retirement or decommissioning obligations; deferred tax assets and liabilities; investments, including joint ventures and associates; and/or provisions and loss contingencies. Currently Sub-indicator 5.2 and related Metrics only apply to focus companies headquartered on the European continent. Details related to this companys Carbon Performance assessment conducted by TPI may be viewed here. Novo Mercado [New Market] from B3, which makes us proud and strengthens our commitment Indicator 5 is sector neutral, assessing the key elements that should comprise any company decarbonisation strategy. The company discloses the methodology used to determine the Paris alignment of its future capital expenditures. Santos Sustainability Report 2007. EN. Through the Human Rights Policy, we also establish basic guidelines NZE is an accelerated decarbonisation pathway, equivalent to 1.5C of global warming in this century with a 50% probability and little overshoot (i.e., early emissions reductions and limited reliance on post-2050 negative emissions). Ethics and Transparency page. "If the press needs comments," he added, "they know where and how to find me.". The company explicitly commits to align future capital expenditures with its long-term GHG reduction target(s). Santos Ltd. COMPANY INFORMATION Sector Oil & Gas Sector cluster Energy ISIN (S) AU000000STO6 SEDOL CODE 6776703 MARKET CAPITALISATION GROUP Large FOCUS COMPANY TYPE Plus list COMPANY HEADQUARTERS Australia, Australasia ABOUT THE COMPANY ASSESSMENTS The assessment will leverage the European Unions Green Taxonomy criteria on turnover (or revenues) for companies headquartered in the European Economic Area or United Kingdom. COMPANY'S RECENT ACTIONS: How much of the company's 2019 upstream oil and gas CAPEX is inconsistent with the IEA's Beyond 2C Scenario? Organisation Score (expressed as a percentage from 0 to 100) is a measure of how supportive or obstructive the companys direct engagement is with climate policy aligned with the Paris Agreement, with 0% being fully opposed and 100% being fully supportive. honesty in relation to our partners, always seeking the best solutions and practices for Santos on reelection: 'McCarthy's comments do not change my intention Santos Net Zero representations failed to disclose that: its Net Zero plan does not account for expected production and/or emissions growth from oil and gas exploration opportunities beyond 2025; the CCS Expansion portion of the Net Zero plan actually reflects offsets which Santos will apparently seek to procure. Provided by InfluenceMap, this assessment relates to Indicator 7 (Climate Policy Engagement) of the Disclosure Framework. 31 sports projects (Federal Law of Incentive to Sports and Promifae), 7 cultural projects (Federal and Municipal Law of Incentive to Culture), 3 children and adolescents projects (Funds for the Rights of Children and Adolescents). The company discloses its trade associations memberships. Scores are therefore not directly comparable between years. Santos Managing Director and Chief Executive Officer Kevin Gallagher said he was delighted to present the 2021 Sustainability Report. ACCR is not able to share the Amended Concise Statement at this time. 2022 Sustainability Report | Newcrest Clarifications have been added to Metric 6.1b to enable assessment of companies plans to phase out carbon intensive assets. Offsets will be an area for future development in the Net Zero Company Benchmark. Santos Limited - Wikipedia Interim Results. See here for a complete list of exchanges and delays. More ACCR company analysis and engagement: Santos Ltd is one of the largest oil and gas producers in Australia. The company lists its climate-related lobbying activities, e.g., meetings, policy submissions, etc. Climate-related matters may include the physical impacts of climate change and/or transition impacts from climate mitigation on the companys market, sector, business environment, and drivers of its costs and revenues. In order to be assessed as Yes on this Metric in the March 2022 iteration, companies must quantify the approximate proportion of emissions reduction each action in their decarbonisation strategy will contribute to their overall greenhouse gas reduction target. Scores may therefore be not directly comparable between Benchmark iterations. Provided by Carbon Tracker Initiative and the Climate Accounting and Audit Project. The analysis excludes consideration of projects that are so costly they sit outside of the IEA Stated Policies Scenario (STEPS). in December 2021, future engagement will be on the merged company, Santos, and future iterations of the Benchmark will only assess Santos. Santos today released its 2021 Sustainability Report, demonstrating how the principles of sustainability are central to the way Santos operates its business and delivers its strategy. Se preferir, acesse nosso site em portugus. Company reporting | Santos Oil Search was a new addition to the focus list and both Santos and Oil Search will be assessed as part of the March 2022 assessment. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Santos releases 2021 Sustainability Report - Santos Limited (ASX:STO) Respectively, 2.1/2.2a/2.2b will be Yes if 3.1/3.2a/3.2b are Yes and are net-zero targets (i.e. The companys net zero GHG emissions ambition covers the most relevant Scope 3 GHG emissions categories for the companys sector, where applicable. Sustainability Report 3. Sub-indicator 5.1 is not conditional on 2.3 and/or 3.3 (net-zero alignment), i.e. NET ZERO ANALYSIS: What is the companys oil and gas production level in the 2030s (against a 2021 baseline) assuming no new oil and gas projects are sanctioned as stated by the IEA's Net Zero Emissions by 2050 Scenario (NZE)? The company produces natural gas, ethane, liquefied gas, crude oil, condensate, naphtha, and liquefied petroleum gas. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The company has a specific commitment to ensure that the trade associations the company is a member of lobby in line with the goals of the Paris Agreement. The methodology quantifies key outcomes, including the percentage share of its capital expenditures that is invested in carbon intensive assets or products, and the year in which capital expenditures in such assets will peak. This assessment is provisional, meaning that information will be collected and publicly assessed as part of the March 2022 Climate Action 100+ Net Zero Company Benchmark, but the assessment framework will be subject to change in future iterations. Santos Limited explores for, develops, produces, transports, and markets hydrocarbons in Australia and internationally. Sustainability Reports - Jadestone Energy Further, in making representations that gas is a clean fuel or energy source, and blue hydrogen is zero emissions or clean, ACCR claims that Santos engaged in conduct that was liable to mislead the public as to the nature, characteristics, suitability and quality of Santos goods (being natural gas and blue hydrogen), contrary to s 33 of the ACL. Applicability of Scope 3 emissions (indirect emissions that are produced in a companys value chain) as assessed by the Benchmark, varies by sector. UN DESA 26 June 2023 15:00 - 16:00 hrs. The company lists its climate-related lobbying activities, e.g. The Report aligns with Santos seven sustainability pillars: economic sustainability; health and safety; climate change; environment; community and supply chain; Indigenous partnerships, and people and culture. These companies either present climate-related risks to investor portfolios or have significant opportunities to drive the net zero transition that is not captured by emissions data alone. The company has set an ambition to achieve net zero GHG emissions by 2050 or sooner. Jadestone publishes a Sustainability Report each year, along with its Annual Report. Santos sued for 'clean fuel' claims and net zero by 2040 target despite 5.1 can be Yes and 2.3/3.3 No. This Metric is independent of Metric 3a, as the auditor is asked to take an independent role in assessing the assumptions used by the company (either directly or through sensitivity analysis), or to indicate what reasonably-aligned assumptions would be and provide its own sensitivity analysis. We are committed to continually making progress on the aspirations and targets we have set for each of our sustainability pillars, and maturing the way in which we report, Mr Gallagher said. These alignment assessments from Carbon Tracker Initiative (CTI) analyse upstream oil and gas companies potential capital expenditures (CAPEX) for unsanctioned carbon-emitting assets relative to a range of climate change scenarios. This Metric focuses on financial statements. Offsetting or carbon dioxide removal should not be used by companies operating in sectors where viable decarbonisation technologies exist. I look forward to continuing this process & I ask for the media to not disturb or harass my dad & aunt for the sakes of cheap reporting. The financial statements use, or disclose a sensitivity to, assumptions and estimates that are aligned with achieving net zero GHG emissions by 2050 (or sooner). ACCR has now filed to expand its case to include alleged greenwashing in Santos 2020 Investor Day Briefing and 2021 Climate Change Report, following additional information produced by Santos in the litigation discovery process. The documents produced by Santos have heightened our concerns that these plans lacked sufficient detail to be put into the market. Unsanctioned projects are at a pre-final investment decision (pre-FID) stage, meaning they sit before the full project-related CAPEX commitment has been made. The company has made a qualitative net-zero GHG emissions ambition statement that explicitly includes at least 95% of scope 1 and 2 emissions. Contingency: Metrics 2.2a and 2.2b cannot be Yes unless sub-indicator 2.1 is also Yes. With that monitoring, operations are rigorously controlled and meet the applicable legislative standards, besides being audited and certified by the relevant international bodies. (shown in 2020 real terms Brent equivalent US$ prices (and the year of maximum price)). Sub-indicator 4.3 is not currently conditional on 4.1 or 4.2. The target (or, in the absence of a target, the companys latest disclosed GHG emissions intensity) is aligned with the goal of limiting global warming to 1.5C. The company conducts and publishes a review of its trade associations climate positions/alignment with the Paris Agreement. InfluenceMap provided independent analysis of the companys corporate climate lobbying practices (indicator 7). All data presented are based on Santos operated sites unless otherwise stated. . In the absence of sufficient data to assess companies against the IEAs Net Zero Emissions by 2050 Scenario, companies are assessed against the next most ambitious scenario, which is the IEAs B2DS. Santos Ltd. ( South Australia Northern Territory Oil Search) is an Australian oil and gas exploration and production company, with its headquarters in Adelaide, South Australia. Examples of relevant assumptions and estimates include (but are not limited to): projected interim and long-term commodity prices used in forecasting revenues, for example oil, gas and coal prices; CO2 prices used in forecasting costs; cash flow growth rates; and/or estimated remaining useful lives, particularly of climate-exposed assets and related obligations. This sets out a pathway to reach net zero emissions by mid-century and keep the global temperature rise to 1.5C with a 50% probability. For example, a company with a 2030 target but no targets thereafter will have its 2030 data point compared with the benchmark value in 2050. The audited financial statements and notes thereto incorporate the material impacts of the global drive to net zero greenhouse gas (GHG) emissions by 2050 (or sooner) which for the purpose of this assessment is considered to be equivalent to achieving the Paris Agreement goal of limiting global warming to no more than 1.5C. The programme helps employees transform ideas into action, stimulating solidarity together with the community. The companys board has clear oversight of climate change. This Metric focuses on the use of assumptions and estimates that are best estimates of scenarios aligned with achieving net zero emissions by 2050 or sooner (aligned assumptions), or the provision of a sensitivity analysis using such assumptions and estimates.
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santos' sustainability report
