Talos Energy Inc. published its second annual environmental, social and governance (“ESG”) report to stakeholders, highlighting the Company’s continued environmental, health and safety focus, positive impacts on communities and employees and solid governance practices. Talos has substantially increased the volume and quality of disclosures in this year’s report and further clarified alignment with recognized industry standards.
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Key highlights of this year’s report include:
- Established a long-term target of 30% greenhouse gas emissions (“GHG”) intensity reduction by 2025 from the 2018 baseline, and more recently added a 40% reduction stretch target
- Zero hydrocarbon releases of greater than one barrel and less than three-fourths of one barrel released from over 23 million gross operated barrels of oil equivalent (“MMBoe”) produced; Talos has operated for over 1,000 days without an offshore release more than one barrel
- ~3 million man hours worked with a 50% and 9% reduction in total recordable incident rates (“TRIR”) and lost time incident rates (“LTIR”), respectively, from the 2018 baseline
- Named a Houston Chronicle Top Workplace for the ninth consecutive year in a row
- Enhanced and renamed the Board of Directors’ Safety Committee to the Safety, Sustainability and Corporate Responsibility Committee to allow for greater oversight and management of ESG efforts, including climate-related risks and opportunities
- Increased the weighting of ESG-related performance on management’s annual incentive plan to 20% of total
Talos President and Chief Executive Officer Timothy S. Duncan commented: “We are very proud to end the year with the publication of our second annual ESG Report. Each year our goal is to increase the standard and quality of our reporting while improving on the key metrics that reinforce our role as responsible corporate citizens. We believe the Gulf of Mexico and Gulf Coast is a critical part of the global energy story – it is a basin where critical resources that fuel our daily lives can be developed safely and with one of the lowest emissions footprints in the world. Our employees are extremely proud of the contents of this report from our safety and environmental track record to our community involvement and the culture we have created as a Top Workplace for nine straight years. We have evolved from one of the top independent energy producers in the Gulf of Mexico to a total energy solutions company focused on both energy production and industrial carbon capture and sequestration and we are excited about the role we will play going forward in the future of our industry.”