07.14.2016
- Improved safety performance with a 10 percent reduction in workforce total recordable incident rate
- Invested nearly $22 million in social programs, with the majority in education
- Reduced equity greenhouse gas emissions by more than 5 million tonnes ( 2008-2015)
- Set new 2020 targets to reduce flaring intensity by 50 percent and greenhouse gas intensity by 25 percent from 2014 baseline
Hess Corporation released its 2015 Corporate Sustainability Report, providing a comprehensive look at the company’s strategy and performance on safety, environmental, social and governance programs and initiatives. An electronic version is available at http://www.hess.com/sustainability/sustainability-reports.
“Our mission is to be a trusted energy partner. Sustainability practices are a fundamental part of our business strategy and operations,” said Hess CEO John Hess. “We are proud of the progress made in our company’s long-term sustainable performance and honored to have been recognized once again in 2015 for the quality of our environment, social and governance performance and disclosure.”
Hess Corporation’s 19th annual sustainability report has achieved the G4 Core level for sustainability reporting from the Global Reporting Initiative (GRI), an independent organization that provides the world’s most widely used sustainability reporting and disclosure standards. The report has been third-party assured by ERM Certification and Verification Services.
Highlights from this year’s report include:
- Driving strong safety performance: With an ultimate goal of zero incidents, the company achieved a 10 percent improvement in its combined employee and contractor Total Recordable Incident Rate and a 33 percent improvement in its Lost Time Incident Rate in 2015 compared with the previous year’s performance. Through a campaign focused on reducing dropped objects at our work locations, we achieved a 43 percent decrease in safety incidents with high potential severity.
- Decreasing environmental impact: Between 2008 and 2015, the company reduced equity greenhouse gas emissions from its oil and gas operations by more than 5 million tonnes. Hess has set new 2020 targets to reduce flaring intensity by 50 percent and greenhouse gas intensity by 25 percent from its current portfolio of assets compared to a 2014 baseline. In 2015, Hess was recognized by CDP, an environmental not-for-profit organization, as a leader among S&P 500 companies for climate change disclosures, and was ranked No. 1 among U.S. energy producers in the Newsweek Green Rankings of the 500 largest publicly traded companies in U.S.
- Making a difference in local communities and managing social risk: Hess’ social investment program in 2015 totaled nearly $22 million, with more than $18 million directed towards education projects. To operate effectively in host communities, the company continued the rollout of risk-based stakeholder engagement and grievance mechanism processes that focus on proactive relationship building and meaningful engagement. Hess was recognized as the highest ranking energy company on Corporate Responsibility magazine’s prestigious list of 100 Best Corporate Citizens for the seventh consecutive year.
Click here to read the 2015 Corporate Sustainability Report
Click here for a video of highlights from this year's report
Click here for the press release
Learn more at Hess.com/Sustainability