Hess Corporation has once again copped the spot for the number one energy company on America’s 100 Best Corporate Citizens list which recognizes outstanding environmental, social and governance (ESG) performance.
Though it secured a No. 35 ranking, the Stabroek Block partner was singled out as the only oil and gas producer to earn a place on this year’s list. It should be noted too that Hess Corporation has maintained a ranking on the list for 14 consecutive years.
For 2021, Hess received a 77.95 score, with Marathon Petroleum Corporation receiving a 73.54 rating and Baker Hughes Company coming in with 71.8 rating.
Reacting to the announcement, Hess’ Chief Executive Officer (CEO) John Hess said, “Our longstanding commitment to sustainability supports our purpose to be the world’s most trusted energy partner, which we believe creates value for all of our stakeholders.”
“We are proud to once again be recognized as a leader in our industry for the quality of our environmental, social and governance performance and disclosure,” he continued.
The 100 Best Corporate Citizens List is put together annually by 3BL Media, the world’s leading communications partner for purpose-driven organizations and the Institutional Shareholder Services (ISS), an umbrella of companies which empowers investors and companies to build for long-term and sustainable growth by providing high-quality data, analytics and insight.
The latter makes its assessment using 146 ESG factors across eight pillars: Climate Change; Employees; Environment; ESG Performance; Financial; Governance; Human Rights; Stakeholders and Society.
According to 3BL Media, now more than ever, corporate leadership on environmental, social and governance (ESG) issues is imperative along with transparency.
And as companies decarbonizes and align with the Sustainable Development Goals and rebuild an equitable economy post-pandemic, they should be open about their efforts.
At Hess’ earning call held on April 28, last, the company outlined its new five-year emission reduction targets for 2025 which are to reduce Scope One and Scope Two greenhouse gas emissions intensity by approximately 44% and methane emissions intensity by approximately 50% from 2017 levels.
In addition, Hess plans to invest in technological and scientific advances designed to reduce, capture and store carbon emissions.