Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today released its 2023 Corporate Sustainability Report. The online report outlines Diamondback’s approach to sustainability, commitment to environmental responsibility, managing and reducing risks, governance and business ethics, and our commitment to our people and communities. The report highlights Diamondback’s performance in these categories through December 31, 2022, discusses Diamondback’s sustainability targets and 2023 initiatives and is available at www.diamondbackenergy.com/about/sustainability.
2023 CORPORATE SUSTAINABILITY REPORT HIGHLIGHTS
- Reduced Scope 1 greenhouse gas (GHG) intensity by 20% from our 2019 baseline, making progress towards our target of a 50% reduction by 2024
- Retired voluntary carbon credits to offset approximately 1.5 million tons of CO2 emitted during 2022, resulting in zero net Scope 1 emissions during 2022
- Utilized 41% recycled water in our operations, exceeding our annual target of at least 28%
- Dedicated 8,896 personnel hours to key safety topics, up from 2,565 hours in 2021
- As previously announced, joined the Oil and Gas Methane Partnership 2.0
- Disclosed 2022 Equal Employment Opportunity Form (EEO-1)
“We are invested in meeting our sustainability goals, which we know are important to our stakeholders. We focus our corporate responsibility strategy and initiatives in areas that are relevant to our business performance and where we can make a significant impact, such as prudent investment to reduce emissions and address potential climate change-related risks and opportunities,” stated Travis Stice, Chairman and Chief Executive Officer of Diamondback. “We know that our robust sustainability goals continue to drive the success of our business, and we are proud to be a sustainability leader in our industry.”
Diamondback is guided by established reporting frameworks, including the Task Force on Climate-Related Financial Disclosures (TCFD), Sustainability Accounting Standards Board (SASB) Global Reporting Initiative (GRI), International Petroleum Industry Environmental Conservation Association (IPIECA) and American Exploration and Production Council (AXPC).
