Valaris Publishes 2022 Sustainability Report and Announces 2030 Carbon Emissions Reduction Target

Source: www.gulfoilandgas.com 4/17/2023, Location: South America

Set Carbon Emissions Reduction Target to Reduce Scope 1 Emissions Intensity Per Active Day by 10% to 20% by 2030
Increases Transparency Through Aligning with the Task Force on Climate-Related Financial Disclosures (TCFD) Framework

Valaris Limited has issued its 2022 Sustainability Report, showcasing the Company’s commitment to and advancement of its near- and long-term Environmental, Social and Governance (ESG) priorities. The Sustainability Report can be found on the “Safety & Environment – Sustainability” page of the Valaris website at www.valaris.com.

President and Chief Executive Officer Anton Dibowitz said, “At Valaris, we are proud to provide responsible solutions that deliver energy to the world. We continue to develop our sustainability program, including this year setting goals that drive meaningful advancements toward building a more resilient and sustainable company. We look forward to promoting sustainable business practices alongside our stakeholders.”

As part of its commitment to sustainability, Valaris has set a target to reduce Scope 1 emissions intensity per active day by 10% to 20% by 2030 compared to a 2019 baseline. The Company has identified a clear roadmap to reach its target based on four areas of focus:

Energy Efficient Practices: Optimizing the efficiency of power generation on drilling units, including implementing a fleet-wide digitalization of diesel engine monitoring and developing Power Management Plans to optimize diesel engine fuel consumption
Energy-Saving Upgrades and Procedures: Rolling-out energy efficient technologies, such as the ABS enhanced electrical system notation, EHS-E, installed on one of its drillships with an additional drillship currently being upgraded
Biofuel Blends: Using biofuel blends, where made available by customers

Jackup Rig Electrification: Electrifying jackup drilling units using a local electric grid or from other sources, where made available by customers The Company believes this to be a credible target range based on technologies that exist today and may increase the target as new technologies become available. Valaris remains focused on exploring ways to continuously improve its overall impact on the environment, including the reduction of greenhouse gas emissions.

Further, the Company has aligned the Sustainability Report with the standards of the Task Force on Climate-Related Financial Disclosures (TCFD), in addition to the Sustainability Accounting Standards Board (SASB), with references to other frameworks such as the Global Reporting Initiative (GRI) and the Carbon Disclosure Project (CDP), where relevant.


Norway >>  12/12/2024 - INPEX CORPORATION (INPEX) announced that through INPEX Idemitsu Norge AS (IIN), a wholly owned local subsidiary of INPEX Norway, it has reached an a...
Spain >>  12/12/2024 - The global leader in smart photovoltaic and energy storage solutions Trinasolar and the Spanish group ReTree, which is dedicated to fighting deforesta...

United Kingdom >>  12/12/2024 - Saipem has received the final award for the two projects Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT) for the development of...
United States >>  12/12/2024 - Madison Gas and Electric (MGE) has published its annual Corporate Responsibility and Sustainability Report, detailing its environmental, social and go...

Canada >>  12/11/2024 - Cyclic Materials, an advanced metals recycling company building a circular supply chain for rare earth elements (REEs) and other critical metals, anno...
Ghana >>  12/11/2024 - Dutch & Company, a leader in solar energy solutions, has successfully installed a solar system designed to reduce carbon emissions and provide stable,...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.