Tanko Mohammed
Seplat Petroleum Development Plc said on Tuesday that it was targeting zero gas flaring by 2022 to enhance environmental sustainability.
Mr Roger Brown, Chief Executive Officer of Seplat, made the disclosure at the virtual Facts Behind The Sustainability Report organised by the Nigerian Stock Exchange in Lagos.
Brown said that although extractive, Seplat had an environment, health and safety groups that ensure environmental clean-up of it its wells across communities where it was stationed.
“As an extractive industry means it’s harmful to the environment, but we are providing essential energy for the growth of all the sectors within the country.
“In case of any spills, we have a very detailed clean-up to ensure we return our sites back to what it was previously.
“One area that we are working on seriously is to have zero flare by the end of 2022.
“We will make significant impacts that will be of great environmental benefits to the country and the areas we operate.
“We are highly extractive but we have a way of putting things back the way they are before we arrived,” he said.
Brown hinted that it would be a bit challenging as a nation to balance social development with energy transition, as the company was taking steps to ensure the right transition process.
He noted that the firm was working in alignment with the Sustainable Development Goals (SDGs), Environmental, Socio-Corporate Governance (ESG) to protect the environment.
Mr Oscar Onyema, Chief Executive Officer, NSE, during his opening remarks, said that sustainability reporting could help companies access their impact on the environment.
Onyema said: “2020 had an unprecedented development that had a significant impact on the economy.
“As the country recovers from its second recession in five years, it is important to reflect deeply on the learnings from 2020 and global efforts to build back better, to achieve sustainable development by 2030.
“The advances of seplat petroleum delights me, in achieving their sustainability aspirations.
“Studies have shown that sustainability reporting influences a company’s performance according to the GRI.
“Sustainability reporting can serve as a learning process for a company to better understand and manage its impact on people and the planet while also managing risks, seizing new opportunities and identifying key actions for contributing toward creating a sustainable future.”
The NSE boss pledged the agency’s commitment to sustainable financing growth.
“At the NSE, sustainability reporting is at the core of our sustainability journey embarked on in 2013 when we rolled out sustainability strategy, anchored on the four pillars of market place, work place, community and the environment.
“To raise the bar, we joined the Sustainable Stock Exchange initiative by the United Nations and World Federation of Exchanges.
“These two reputable organisations fuel our aspirations to further strengthen the growth of long-term sustainable finance,” he noted.
The virtual meeting also held the digital closing gong ceremony to end trading activities at the market.
