Crew's Commitment to Long-term Sustainability:
Enhancing our business to generate positive returns for stakeholders while respecting and honouring our core principles of ESG.
Our Guiding Principles
Responsible resource development and meeting or exceeding regulatory requirements. A constant pursuit of excellence.
Protecting the environment is a principle we firmly stand behind. At Crew, we embrace innovative industry-leading technologies to reduce our environmental footprint while remaining focused on generating value for shareholders.
Our Commitments in Action
- In Q3/21, Crew will commission a waste heat recovery system (**) at our West Septimus facility, which is expected to reduce emissions and increase condensate stabilization capacity. The system is expected to reduce total greenhouse gas emissions from the facility by approximately 10% and increase condensate stabilization capacity by 20% to around 5,000 bbls per day.
- Crew is the first Canadian energy producer to receive regulatory approval from the B.C. Oil and Gas Commission (“OGC”) for the installation and operation of a next-generation, spoolable temporary surface pipeline for produced water transfer, confirming Crew’s commitment to improving efficiencies, reducing emissions and continuing to be a responsible operator.
- Crew successfully participated in the various provincially funded dormant well programs and initiated abandonment and reclamation activities on 59 wells in 2020.
- Achieved a 95% compliance rating, with 220 regulatory inspections across the three provinces we operate.
** Crew gratefully acknowledges assistance from the Province of British Columbia’s CleanBC Industry Fund for their support of this project.
Providing strong and effective governance to protect people, stakeholders, and Crew’s assets, while seeking to deliver robust returns.
Crew believes strong corporate governance, transparency, and integrity set the foundation for ethical and effective decisions while contributing to the alignment between our Board of Directors (“Board”), management, and stakeholders.
Our Commitments in Action
- Establishment of a Board led sub-committee that has oversight over our ESG performance and future targets.
- Crew has formed an ESG Steering Committee that monitors ESG trends, communicates potential risks and supports informed decision-making from an ESG lens across our operations.
- Our leadership and management are responsible for overseeing the strategic direction and implementation of our ESG strategy by working closely with operations and internal teams to identify and implement sustainable solutions quickly.
- 15% of short-term incentive compensation is tied to ESG targets in 2021.
- Crew conducted a materiality assessment to identify material issues and risks that may have a significant business impact on Crew’s operations, as determined by both internal and external stakeholders surveyed.
- Analyzing project viability based on financial and environmental metrics.