Our Sustainability Approach

Our Purpose

We strive to be known as an energy company that is committed to responsible production practices and ethical business conduct. We recognize that our success hinges on the involvement of  people, whether they are our own team members or the communities we work alongside. We take pride in being guided by a dedicated group of individuals who share our commitment to sustainability.

We are dedicated to reducing emissions and doing our part to contribute to the sustainable development of the countries in which we operate. By prioritizing sustainability and focusing on reducing our environmental impact, we are confident that IPC can make a positive impact on the world while continuing to provide for its energy needs and deliver value to our shareholders.

IPC’s Vision & Values
IPC’s Vision: We are an entrepreneurial value-driven team bringing energy to the world in a sustainable way.

Highlights of our vision include:

  • A focus on what we do best and continually improving
  • Establishing a collaborative culture of enthusiastic and skilled people where creative thinking and innovation are encouraged
  • Being a safe and environmentally-responsible operator with high integrity standards
  • Fostering a culture of respect, diversity and inclusion recognizing employees are integral to our success
  • Engaging with stakeholders to build trust and confidence in IPC’s contribution to global sustainable economic development
IPC’s Approach to Sustainability

We aspire to deliver energy to meet societal needs, do no harm to people and the environment, and contribute positively to society.

We aim to do this by responsibly developing our assets in a manner that minimizes adverse impacts to the environment, while supporting the economic and social well-being of our stakeholders and the communities in which we work. For us at IPC, shared economic value is comprised of social purpose infused with profitable growth for our business. This philosophy represents the foundation of our sustainability framework. Tremendous value is placed on having an open dialogue regarding sustainability priorities and practices with IPC stakeholders, including but not limited to our staff, local communities, shareholders and government organizations. While we recognise the importance of all ESG aspects, we focus our efforts on those that are most material to our Company’s activities and geographical presence.

Frameworks & Partnerships

IPC is committed to reporting in alignment with globally recognized frameworks and staying informed of their latest updates and changes. As such, we align with the GRI Universal Standards 2021 and the GRI 11: Oil and Gas Sector 2021 standards for our 2022 Sustainability Report. In addition, IPC is participant to the UN Global Compact and committed to upholding the 10 Principles of the UN Global Compact on human rights, labour, environment and anti-corruption. We also participate in the Canadian and Swiss UN Global Compact Local Networks and take part in various programs such as the Young SDG Innovator Program. Our Sustainability approach is aligned with the Sustainable Development Goals (SDG).

Our unique relationship with the Lundin Foundation provides us with direct access to a network of ESG, sustainability and reporting subject matter experts. The Foundation is connected to a global community committed to knowledge sharing, collaboration and elevating best practices and we are able to leverage this relationship to develop and implement our renewed sustainability strategy.

IPC has also partnered with First Climate, one of the world’s leading providers of climate protection solutions, and currently is engaging in multiple offset projects.

Sustainability Reporting & Disclosures
Our Reports and Disclosures

IPC’s annual sustainability disclosures align with the Global Reporting Initiatives (GRI), the Task Force on Climate-related Financial Disclosures (TCFD) and the International Petroleum Industry Environmental Conservation Association (IPIECA). As such, we have chosen to present our sustainability reporting across multiple platforms in order to streamline the information for reader consumption:

View IPC’s 2022 Sustainability Report  for a broader view of the Company’s environmental, social and governance (ESG) performance beyond climate-related aspects.

View IPC’s 2022 TCFD Report for information regarding the Company’s climate-related risks, opportunities and strategies.

For a wholesome overview of our sustainability management approach and performance the website content, Sustainability and TCFD Reports should be read together.

Reporting Standards

Materiality in sustainability reporting is determined by the potential of a particular topic to affect, positively or negatively, a company’s performance and external opinion. To determine our material topics, we solicit internal and external stakeholder views through dialogue, media articles, public reports and trends in sustainability and ESG assessments. IPC then benchmarks these results against topics most reported by our industry peers. In the process of defining the report content we adopted a stakeholder identification and engagement approach in line with IPC’s Stakeholder Relations Policy. The content of the report reflects the most material areas of focus to the Company and its stakeholders and has been approved by the Executive Committee and the Board of Directors (Board).

We strive to continuously improve our sustainability reporting and will engage with our stakeholders to ensure our disclosures are relevant and focused. We will continue to evaluate our approach to materiality as we progress in our disclosures and conduct materiality assessments both through internal and external methodologies with a view to refining the topics we report on and remaining aligned with stakeholders’ evolving expectations.

Materiality Assessment Process

IPC’s sustainability reporting focuses on the ESG issues that matter to our business and our stakeholders. We conduct regular materiality assessments to ensure we accurately consider a broad range of perspectives in our strategic focus on sustainability, to guide the development of content for reporting, and to inform readers of IPC’s future sustainability efforts. The following internal practices have been used to identify and assess sustainability priorities across our business and key topics on which to report:

To identify topics for prioritization, we consult the relevant components of the GRI Standards and the Sustainability Accounting Standards Board (SASB) Standards, extract topics from peer reports, and review sustainability reporting best practices. Further, IPC’s list of material topics has been based on findings from consultations and surveys with employees, insights from stakeholder interviews, feedback from ongoing internal sustainability initiatives, competitive benchmark reports, and discussions with key internal leaders who are in regular contact with our external stakeholders.

Extensive materiality assessment was conducted, consisting of interviews with internal subject matter experts and senior leaders from across the Company. Topics are then validated by surveying our entire staff, as well as external community members.
The prioritized topics are then approved by our executive team and well aligned with our core Values: Excellence, Respect and Resilience. IPC will reassess these topics to ensure they continue to reflect changes that may occur within our business, evolving ESG trends, and any shifts in stakeholder expectations. Our assessment of IPC’s business has brought valuable benefits: it has strengthened our focus on, and understanding of, the areas where we can have the greatest positive impact.

Environment

Climate Action

IPC is a forward-thinking energy producer who takes responsibility seriously. Our mission is to generate long-term value for our shareholders while embracing sustainable practices that benefit the economy, the environment, and society. Recognizing climate change is a global concern, we have made it a priority to mitigate the impact of oil and gas development by taking ongoing measures to actively reduce our greenhouse gas (GHG) emissions intensity. Our climate strategy integrates climate risk considerations into our planning process, enabling us to proactively address the evolving challenges of both the industry and broader society.

We are committed to striking a balance between reducing emissions and ensuring the economic viability of our development activities. Our primary objective is to meet the global demand for accessible and affordable energy while minimizing and offsetting emissions. The team at IPC understands the need for responsible operations and environmentally-friendly practices as a key contributor to a sustainable future.

See our latest Sustainability Report for further stories and examples of our climate action practices. Review our TCFD Report for further information and details on how we approach Climate Action.

Reducing Operational Emissions
Through ongoing emission reduction initiatives, combined with investments in carbon offsetting projects, IPC maintains a heightened focus on mitigating our carbon footprint. Across each of our operated assets, we have an emissions inventory that accounts for 100% of the emissions within our reporting boundaries.

Spotlight on Methane Reduction
Methane emissions continues to be a pressing global challenge for oil and gas producers and is a top priority for IPC. We strive to implement initiatives and technologies that can reduce methane emissions across our operations with the goal of meeting, or where possible surpassing, regulatory requirements. Successful initiatives deployed to date include retrofitting and upgrading older equipment, which has resulted in an impressive methane emissions reduction of over 50% from the 2019 baseline.

Carbon Offsetting
IPC is dedicated to emission reduction and transparent reporting through active participation in carbon offset generation and engagement in carbon markets. We secure carbon credits in the regulatory and voluntary markets, partnering with First Climate to offset a portion of our CO2 emissions. These efforts contribute to a more sustainable future by supporting forest preservation, the expansion of renewable energy, as well as clean cooking and access to safe drinking water in developing nations.

Reducing emissions in our operations
Pneumatic Conversions
Converting pneumatic instruments from hydrocarbon gas to instrument air, reducing emissions by replacing vent gas with vent air. At IPC’s Suffield asset, IPC has undertaken an extensive program to replace the legacy hydrocarbon gas systems. This transition reduces emissions and enhances operational safety, reliability, and efficiency.
Combustor Installation
With installation of combustor systems into the Conventional oil battery infrastructure, flammable gases that would otherwise be vented or flared can be efficiently burned in a controlled combustion process. This combustion prevents the release of methane and converts it into less harmful byproducts.
Micro Turbine Installation
At Vert La Gravelle in France, IPC has successfully reduced methane emissions by utilising produced gas to supply local field generation. The Vert La Gravelle Microturbines, installed in 2019, generate ~60% of fields electricity from historically flared associated gas. The introduction of the microturbines has provided a dual benefit of increased operational efficiency and emissions reductions.
The installation of additional waste heat exchangers at Onion Lake Thermal which has increased energy efficiency by reducing  fuel consumption.
IPC has converted its remaining rich burn engines at Suffield to utilize REMVue Air Fuel Ratio technology. This technology offers fine-tuned control of combustion processes, resulting in optimized fuel usage and reduced emissions.

In parallel, our major facilities at Suffield have also been equipped with Vent Gas Capture systems, which gather emissions originating from sources like compressor packing and other vented outlets, redirecting this gas back to the engine as a supplementary fuel source.

Discover our carbon offsetting projects in partnership with First Climate.
Project supports sustainable forestry practices in a conservation corridor in the Madre de Dios Province of Peru’s Amazon basin.

By managing two forestry concessions covering 100,000 hectares, this project allows for the preservation of existing forests which is equally as important as afforestation. These forests provide habitat for diverse species, act as significant carbon sinks, and hold cultural and historical importance.

This project in Malaysia converts landfill gas into renewable energy by collecting and utilizing methane gas produced in a landfill site in Selangor State. It reduces methane emissions while also generating renewable energy.

This energy is used to replace the fossil fuel-based power supply on-site, contributing to climate neutrality and reducing greenhouse gas emissions.

Improved cook stoves reduce deforestation and contribute to better health.

The improved charcoal cook stoves achieve fuel savings of 35% to 50% compared to conventional metal stoves. Users also enjoy a much healthier cooking environment since the cleaner burning stoves cause significantly less smoke and fewer carbon monoxide emissions.

To date, the project has promoted the commercialization of more than 520,000 improved cook stoves in the Ugandan capital Kampala.

The borehole project provides access to safe drinking water and a better environment.

In addition to direct health benefits, families no longer have to boil the water, saving firewood and thereby preventing carbon emissions from being released.

To prevent malfunctions in the future, locals are being educated in the set-up, maintenance and in operating the boreholes.

The project consists of two solar parks with a total capacity of 100 MW.

It delivers 166,440 MWh of renewable electricity to India‘s national grid and meets the electricity needs of over 200,000 people per year.

The project contributes to the reduction of GHG emissions by replacing electricity from fossil-fuelled power plants.

Generating clean electricity in India.

The hydropower project consists of a 300 MW run-of-the-river hydropower plant with a 116 GW potential for hydropower, generating on average 1,304 GWh of clean electricity per year.

Based on average per capita power consumption in India, the project alone sustainably meets the electricity demand of over 1,630,000 people per year.

While focusing on reducing greenhouse gas emissions, all our projects also generate multiple co-benefits. These are supportive of the United Nations Sustainable Development Goals.
Environmental Stewardship

IPC is committed to upholding high environmental standards in all of our operations. We prioritize the integration of environmental considerations into all stages of project planning and aim to minimize risks to the natural environment. This includes carrying out environmental assessments, implementing continuous monitoring, and rehabilitating sites. We strive to use natural resources efficiently while recognizing the valuable ecosystem services they provide.

We track and report our emissions to air, water, waste and biodiversity, and seek to optimize natural resource use whenever operationally feasible. Our facilities operate in accordance with the Best Available Technique (BAT) principle, which we believe enhances our operational efficiency and reduces our environmental impact.

See our latest Sustainability Report for further stories and examples of our environmental stewardship in action.

Land & Biodiversity

IPC upholds a firm commitment to avoiding operations in World Heritage Sites and protected areas classified by the International Union for Conservation of Nature (IUCN) Categories I-IV. We strictly comply with environmental legislation and employ the mitigation hierarchy of avoid, minimize, restore, and offset when operating near critical biodiversity areas. Our focus is not only on compliance but also on proactive engagement, as we actively undertake projects that positively contribute to conservation and enhance protection efforts. By integrating responsible land and biodiversity management into our operations, IPC aims to play a crucial role in safeguarding ecosystems, species, and genetic diversity while preserving our planet’s natural heritage.

Land Reclamation and Asset Retirement Obligations

At IPC, we embrace the power of collaboration with our stakeholders, recognizing their invaluable contributions to our ongoing efforts in developing and enhancing effective environmental programs. We actively engage with regulatory agencies and local communities, harnessing their insights to drive positive change.

In Canada, our Liability Management program has evolved and strengthened in response to the growing inactive liability arising from an increasing number of orphaned assets. IPC goes above and beyond the requirements of Asset Retirement Obligations (ARO) by employing a process:

Social

Health & Safety

At IPC, the health and safety of our people is always our top priority. We aim for zero accidents and strive to foster a culture of well-being. We are recognized for our strong health and safety hierarchy and associated management systems which guide our approach and behaviours and are aligned with international best practices. Together, these form the pillars on which the Company can ensure continued safe operations across each of our geographically diverse regions while helping our teams meet or exceed baseline regulations and guidelines for keeping people safe.

IPC’s Health & Safety Policy and our Health & Safety Management System establish protocols for the local health and safety management systems in our operating regions. Executing our operations in a safety conscious manner also means providing staff with adequate and relevant guidance, regular training opportunities and involving them in the reviews of key policies, procedures and safe practices. Online training modules and quick reference guides are daily reminders of safe work practices. Workplace hazard identification and control, qualitative and quantitative risk assessments, safe work procedures and permit-to-work systems, safe work observations, stop card systems, incident reporting and investigation all represent critical parts of how we manage health and safety.

Management Approach to Health & Safety

This Health & Safety Management System (HSMS) structure is applied anywhere IPC is an operator and is supported by continuous improvement through implementation of audit findings and recommendations as well as feedback received from employees and contractors.

Key Social Policies & Documents

Icon

Health & Safety Policy
23.01.2024, 430 KB

Icon

Security Policy
19.12.2019, 46.11 KB

Icon

Diversity Policy
23.01.2024, 560 KB

Icon

Human Rights Policy
23.01.2024, 408 KB

Icon

Stakeholder Relations Policy
19.12.2019, 44.97 KB

A Culture of Safety

At IPC, we prioritize safety as an integral part of our Company culture. Our leadership team is committed to fostering a culture of safety by participating in regular safety meetings with field staff, where they share safety moments and learn from each other. This open dialogue helps us to continually improve our safety practices and ensures that safety is at the forefront of everything we do. We integrate safety planning and execution into our day-to-day operations through daily reports, toolbox talks, weekly site-level safety meetings, and monthly management meetings. We analyze our safety performance and set targets to continuously improve our safety measures, and our management performance is evaluated in part through key safety performance indicators. We believe that creating a culture of safety requires a strong commitment from all levels of the organization, and we are dedicated to maintaining our focus on safety to ensure the well-being of our employees and the communities in which we operate.

In pursuit of our overarching goal of zero harm in all of our operations, we have established a robust reporting system that allows us to monitor and evaluate IPC’s health and safety performance on a monthly basis. In the event of high-potential incidents or reportable injuries, we conduct thorough analyses to identify the root cause and implement corrective actions to prevent reoccurrence. We use consolidated data to identify trends and implement focused strategies to prevent future incidents.

IPC takes a proactive approach to measuring and improving our health and safety performance. We utilize a combination of leading and lagging indicators to gain a holistic understanding of our systems and procedures. By identifying potential hazards and addressing them through workplace inspections, hazard reports, and safety suggestions, we can prevent incidents from occurring. Additionally, our lagging indicators, such as lost time incidents (LTI), restricted work incidents (RWI), and medical treatment incidents (MTI), allow us to learn from past incidents and continually improve our practices.

Our commitment to health and safety extends beyond our reporting and analysis processes, as we regularly run thematic awareness campaigns across all our operating regions to promote our safety culture and make safety an everyday focus.

See our latest Sustainability Report for further stories and examples of our health & safety culture in action.

Workplace Hazard Identification & Control

Fundamental to ensuring our activities are conducted in a safe manner is the identification, elimination or minimisation of hazards, which we do according to the hierarchy of safety controls.

Rewarding Workplace

Our primary objective is to cultivate an atmosphere characterized by respect, inclusivity, and diversity, acknowledging that our employees are vital to our achievements.

Supporting Employee Well-Being & Retention

We are focused on attracting, retaining, and motivating talented individuals who possess an unwavering dedication to ensuring a work environment based on respect. By drawing our workforce from the local communities in which our operations are based, we actively support local employment opportunities and generate economic benefits that contribute to the growth of these communities. This synergy between our operational sites and the regions surrounding them enhances our operational efficiency while promoting sustainable economic development.

We aim to reward exceptional performance and contributions while prioritizing the overall well-being of our employees and their families, and offer competitive compensation with comprehensive benefit programs. We continuously strive to provide initiatives that support the health and well-being of our workforce, such as flexible working hours, part-time options, and remote work arrangements when appropriate. By conducting annual reviews of our compensation practices in each region, we believe we can continue to attract and retain top-tier talent who are aligned with IPC’s strategic and financial objectives. Professional growth is facilitated within our organization by having employees and managers track their individual progress through annual goal setting, performance evaluations, and ongoing professional development opportunities

Fostering an Inclusive Culture, Embracing Diversity & Sustainable Management

At IPC, we highly value the uniqueness of each individual and the diverse perspectives they bring to our workplace. Our Diversity Policy formalizes these principles, reaffirming our commitment to cultivating an environment that is free from discrimination and harassment while championing inclusivity. We actively promote equal opportunities for all employees to contribute to IPC’s success, and we uphold an open-door policy that encourages transparent communication and trust between employees and management.

See our latest Sustainability Report for further stories and examples of our rewarding workplace in action.

Community Engagement

IPC’s dedication to fostering proactive engagement extends beyond the confines of our operations. We deeply value the integral role neighboring communities play in our pursuit of sustainable development. Through a well-defined community engagement strategy, we strive to build enduring relationships rooted in trust and mutual growth. Our active involvement with stakeholders allows us to contribute to the social and economic sustainability of each community. IPC is committed to making a difference in the well-being of the communities we operate in.

Stakeholder Engagement

IPC’s operations span across three different countries, each with its own distinct cultures, languages, landscapes, and economic development levels. Recognizing the importance of tailoring our approach to each unique operational setting, we prioritize respect for the rights, concerns, and traditional land uses of neighboring communities. Through inclusive dialogue, we foster long-term relationships founded on trust and mutual understanding, bolstering our social license to operate. Going beyond mere compliance, our active engagement efforts seek to identify operational synergies that address local community needs while making social impact investments.

In our commitment to engaging with and understanding the priorities of our employees, IPC empowers all staff to contribute to charitable and community support initiatives.

Indigenous Communities

We deeply value and respect indigenous rights as outlined in the United Nations Declaration on the Rights of Indigenous Peoples. Upholding our commitment to responsible practices, we adhere to all relevant legislation to ensure the principles of free, prior, and informed consent (FPIC) are respected. In alignment with these principles, our projects actively support the development, preservation, and celebration of indigenous communities’ cultural heritage in close proximity to our operations. More on our partnership with the Onion Lake Cree Nation (OLCN) in our latest Sustainability Report.

IPC Community Investment Framework

IPC has developed a formal, simple and structured process that leads to allocating resources for greater social impact. Leveraging the expertise of the Lundin Foundation, renowned for their community strategy development, we are confident in our ability to create lasting positive impact.

See our latest Sustainability Report for further stories and examples of our health & safety culture in action.

Governance

Ethics & Integrity

Responsibility and accountability for the conduct of our activities lies with the Board of Directors, our highest governing body, and its Committees. The day-to-day management of environmental, social and governance aspects to the business are delegated to the CEO and the Executive Committee, and locally managed by IPC’s General Managers in our operating regions. Local task forces have been established to embed sustainability at all levels of the organisation. Additional context and details on our approach to climate governance can be found within our TCFD Report.

Sustainability Oversight

The Board ensures that appropriate governance mechanisms are in place to monitor the Company’s operational, financial, ESG and climate change issues, and that relevant information and reporting are provided, including progress and continuous improvement efforts with respect to IPC‘s performance against these issues.

Our Code of Ethics and Business Conduct is the foundation of our Company’s overarching values. We place responsibility on each and every employee to comply with and uphold these standards.

IPC is dedicated to promoting ethical behavior and preventing abuse and malpractice in its operations. To that end, the Company has established several policies, including:

  • Human Rights Policy to uphold international standards and avoid infringing on individual human rights or being complicit in abuse.
  • Anti-Corruption Policy prohibits any and all forms of corruption, whether active or passive, direct or indirect, across all areas of the Company.
  • Anti-Fraud Policy seeks to prevent fraud and enhance internal control standards for business activities.
  • Anti-Money Laundering Policy upholds the highest standards of integrity and compliance in preventing money laundering and the potential unintended financing of criminal activities.
  • Whistleblowing Policy and procedure are in place to encourage employees to report any potential violations of the Company’s policies or legal obligations, without fear of retaliation.
Sustainability Policy

IPC’s Sustainability Policy provides high-level guidance and reflects how sustainable business practices are part of every aspect of IPC’s activity. The policy is centered around our sustainability priorities and is further supported by subject specific policies and procedures setting clear expectations and providing guidance to our countries of operations, ensuring we apply the same high standards across IPC. This structure creates accountability throughout IPC from the Board and executive level to the operations in each country.

In addition, executive remuneration is linked to ESG performance, including progress towards targets, and the Board is responsible for monitoring and overseeing such metrics. ESG performance accounts for 15% of corporate targets determining variable executive remuneration, and comprises climate, environmental and safety targets.