Sustainability

Wherever we operate we carry out our activities in a safe and sustainable way.
OUR VISION

IPC’s vision is to create a sustainable business in all respects. We aim to explore for and produce oil and gas in an economically, socially and environmentally responsible way, for the benefit of all stakeholders, including shareholders, employees, business partners, host and home governments, and local communities.

Sustainability highlights

Sustainable Focus

  • We strive for operational excellence safeguarding the health and safety of people and protecting the environment
  • We act in a fair, honest and equitable way in all our business activities
  • We adopt the highest standards of professional integrity and comply with national and international laws and regulations
  • We promote a culture of open and honest dialogue with stakeholders
OUR APPROACH

Our sustainability approach is articulated around three key components: PEOPLE, ENVIRONMENT and ETHICS, and is aligned with the United Nations Sustainable Development Goals (SDG).

Sustainability Report 2020
Sustainability Report 2020
Sustainability Report 2020

Responsible operatorship and ensuring that we adhere to the highest principles of business conduct have been an integral part of how we do business since the creation of IPC in 2017. An important part of our sustainability journey involves the measurement and transparent reporting of a broad range of ESG metrics.

The Sustainability Report 2020 details the Corporation’s ESG performance. The report advances the Corporation’s non-financial sustainability disclosures and provides stakeholders with relevant operational and sustainability context in which IPC operates, as well as the Corporation’s management approach and performance with respect to these areas.

Highlights of IPC’s sustainability performance for 2020 include

• Zero severe incidents
• Lost time incident rate of 0.6 in 2020 vs 1.8 in 2019
• Proactive COVID-19 health and safety management
• On track with our commitment to reducing net GHG emissions intensity by 50% by the end of 2025
• 35,000 tonnes of CO2e credits generated through emission reduction initiatives
• Doubled carbon offsets compared to 2019 with 100,000 tonnes of CO2e
• Workforce drawn 99% from local hiring and composed of 29% women
• Meaningful support and engagement with the Onion Lake Cree Nation (OLCN) community and MUSD 12.7 contracted with First Nations businesses
• Support to local communities’ mental health programs, including by partnering with the United Way in Canada
• Participation in community projects in Malaysia, including youth internships and coral reef preservation

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People

People drive our performance and are key to our success. Positive relationships are fundamental to maintaining our social licence to operate and enable IPC to have a positive impact on people by providing opportunities and increased quality of life.
Health and Safety

IPC is committed to safeguarding the health of employees, contractors and of people living near our areas of operations. In all our activities, the goal is of zero harm to people.

We consider health and safety of people at all stages of our activities, and we promote a strong safety culture across the company. The value of safety is embedded at all levels, guided by prevention and vigilance, and were risks are systematically assessed and mitigated.

Emergency preparedness and crisis management plans are in place to ensure appropriate and quick responses in the unfortunate event of an unplanned incident. Regular drills help us to ensure these crisis plans are effective.

Our Safety Commitments

  • People’s health and safety always come first
  • Everyone is responsible for their own safety and that of others
  • Everyone has the right and responsibility to refuse work that is deemed unsafe
  • From the Board to operator, safety is owned at all levels of the company
  • All injuries and high potential incidents are reported and investigated
  • Safety requires constant focus, communication and continual improvement
  • Excellence in safety is at the core of our success
Human Rights

IPC is committed to respecting internationally recognised human rights in the conduct of its activities, based on the UN Global Compact principles and the UN Guiding Principles on Business and Human Rights.

We respect employees’ and contractors’ rights and promote sound labour practices. Providing a safe and healthy work environment, treating employees with fairness and non-discrimination as well as valuing diversity are key to this approach.

We respect local communities’ rights, seek constructive dialogue and aim to contribute to prosperity by hiring locally and through community projects.

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Environment

We manage the environmental effects of our operations and work to continuously improve upon the ways in which we interact with and impact the environment. We recognise the need to conserve ecosystems and living organisms and we aim to avoid, minimise, restore or offset potential impacts resulting from our operations.

IPC operates in an environmentally responsible manner everywhere we operate. We integrate environmental considerations in all phases of our project planning and seek to minimise risks to the natural environment. This includes measures such as environmental assessments, continuous monitoring, rehabilitation, and the implementation of new or improved technologies for the management of resources and facilities. We aim to make the most efficient use of natural resources recognising the valuable ecosystem services they provide.

We account for and report on our emissions to air, effluents and waste. We seek to limit greenhouse gas (GHG) emissions and optimise natural resource use where operationally possible. We are committed to applying the Best Available Technique (BAT) principle and operate our facilities with enhanced operational efficiency.

Emissions to Air

IPC is committed to lowering its emissions intensity in the years to come. Our onshore and offshore facilities have been designed or adapted to reach enhanced energy efficiency and reduced emissions to air. We are actively engaged in reducing greenhouse gas (GHG) emissions in our operating assets and engage in carbon offsetting to further reduce the company’s carbon footprint.

The carbon offsets originate from a solar energy project in Punjab, India. The project consists of two solar parks with a total capacity of 100MW. It delivers 166,440MWh of clean electricity to India‘s national grid, meeting the electricity need of over 208,000 Indians per year.

This project contributes to the reduction of GHG emissions by replacing electricity from coal-fueled power plants. It has been demonstrated to be 100% additional on the basis of the „Approved consolidated Baseline and monitoring methodology ACM0002“ published by the Clean Development Mechanism. Without the additional revenues generated by voluntary carbon offsetting, this project would not have been economical viable and therefore would not have been realized. This ensures that supporting this project generates real benefits and maximum impact.

Biodiversity

IPC is committed to minimising the environmental impact of its activities everywhere it operates with the goal of zero harm to the environment.

Our environmental approach is based on understanding the operating environment in order to assess potential risks and take appropriate preventive measures, guided by the precautionary principle to minimise risks to the natural environment. We aim to ensure biodiversity and ecosystems remain preserved in areas of operations and strive for energy efficiency to preserve the quality of air. We also ensure our operations manage water use, withdrawals and discharges responsibly in accordance with best practice and local regulations.

Oil spill preparedness and response mechanisms are assured through emergency response plans and procedures, regular drills and support from organisations specialised in pollution control.

Our Environmental Commitments

  • We avoid, minimize, restore or offset impacts resulting from our activities
  • We enhance energy efficiency and reduce emissions intensity
  • We use natural resources efficiently
  • We strive to conserve ecosystems and living organisms
  • We involve stakeholders in environmental planning

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Ethics

Strong governance starts at the top of our organisation. Our Code of Ethics and Business Conduct is the foundation of our corporate values. We place responsibility on each and every employee to comply with and uphold these standards.

Guided by our vision and values, IPC is committed to adopting the highest standards of professional integrity in all its activities and operate in a safe and sustainable way.

IPC’s Code of Ethics and Business Conduct guides its directors, officers and employees in maintaining our commitments. Implementation is ensured through specifically tailored Policies, Procedures and Management Systems that apply to all our activities.

IPC complies with laws and regulations, and prohibits corrupt practices, whatever form these may take. Through IPC’s whistleblowing hotline we provide a channel for reporting potential unethical business conducts.

Our Code of Conduct Commitments

  • Act in a fair, honest and equitable way
  • Observe local laws and regulations
  • Respect local customs and traditions
  • Observe applicable international laws and standards
  • Accurately reflect all transactions in books and records
  • Comply with the highest standard of integrity throughout the organization
  • Be honest and forthcoming with the Company’s internal and independent auditors
  • Avoid actual or apparent conflict between a director’s or an employee’s own personal interests and the interests of the Company
  • Protect the assets of the Company and use them efficiently to advance the interests
    of IPC

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