Hess Corporation’s 20th annual sustainability report has achieved the G4 Core level for sustainability reporting under the Global Reporting Initiative (GRI) methodology. GRI is an independent organization that provides the world’s most widely recognized sustainability reporting and disclosure standards. The report has been third-party assured by ERM Certification and Verification Services.
Hess, one of ExxonMobil’s joint venture partners working offshore Guyana, published the report on Wednesday, providing a comprehensive review of the company’s strategy and performance on safety, environmental, social and governance programs and initiatives.
Commenting on the report, CEO John B. Hess, said, “We believe sustainable practices create value for our shareholders and opportunities to continuously improve business performance.”
He said the company is proud of the progress made and excited to continue building a sustainable enterprise that makes a positive difference for its stakeholders and the world around.
Highlights from this year’s report include:
Driving strong safety performance: The company experienced a four-year low in the number of process safety events in 2016 with a 36 percent improvement compared to 2015. In personal safety, the employee TRIR decreased year-over-year from 0.24 to 0.10, a 58 percent improvement.
Decreasing environmental impact: Through 2016, Hess reduced flaring and GHG emission intensities from operated assets by 29 percent and 20 percent, respectively, versus a 2014 baseline. Hess received one of the highest rankings among energy producers in the 2016 Newsweek Green Rankings of the 500 largest publicly traded companies in the United States and was recognized on the prestigious CDP Global Climate List, as a leader in addressing climate change-related risks and opportunities.
Making a difference in local communities and managing social risk: Hess’ social investment program in 2016 totaled nearly $20 million, with more than $16 million directed toward education projects. In host communities, the company conducted risk-based human rights training at selected assets and incorporated human rights training into its contractor on-boarding process. Hess has earned a place, for the 10th consecutive year, on Corporate Responsibility magazine’s prestigious list of 100 Best Corporate Citizens for 2017. The list recognizes public companies across the United States with strong performance in such areas as environment, climate change, employee relations, human rights, governance, finance, philanthropy and community support.
The Global Reporting Initiative is an international independent standards organization that helps businesses, governments and other organizations understand and communicate their impacts on issues such as climate change, human rights and corruption.