Page 16 - LatAmOil Week 22 2021

LatAmOil NEWS IN BRIEF LatAmOil

T&T’s transition towards renewable energy, the last year to act consistently and transpar-
whilst embryonic, has begun with the goal of ently, to offer quality employment, to promote
having 10% of power generation capacity from a sustainable supply chain, to contribute to the
renewables by 2025. The Sustainable Energy sustainable development of communities and
Roadmap and Implementation Plan 2021-30 to work in harmony with the environment. The
was drawn up and financed by the EU, and pre- Sustainability Report is a relevant tool for our
sented to the Ministry of Energy and Energy stakeholders to track the Company’s progress
Industries in September 2017. The plan con- towards achieving its ESG goals.”
cluded that the timing was ideal for T&T to Frontera’s Sustainability Report covers the
transition towards clean energy. T&T is now period from January 1, 2020 to December 31,
looking at implementing the necessary legisla- 2020. The Sustainability Report has been pre-
tion and regulatory framework to facilitate that pared in accordance with the Global Reporting
transition. Initiative and is also aligned with the Sustaina-
Trinity Exploration & Production, June 01 2021 ble Accounting Standards Board (SASB), Task
Force on Climate-related Financial Disclosures,
the Global Compact, the Voluntary Principles
MOVES on Human Rights and Security, and the UN Sus-
tainable Development Goals.
Petrobras comments on efforts include: Reflecting the highest ethical
Highlights of Frontera’s 2020 sustainability
resignation of board member standards – Frontera was recognised by Ethis-
phere as one of the world’s most ethical com-
Petrobras, further to the press release dated April panies as a result of the significant progress the practices and standards. In 2021, the Company
16, 2021, informs that the resignation of the Company has made to incorporate best prac- will develop benchmarks to enable the Company
Board of Directors member, Marcelo Gasparino tices and embed an ethical culture across the to monitor the progress of its ESG strategy, in
da Silva, elected through a multiple vote process organisation. line with Frontera’s corporate strategy and risk
in the Extraordinary General Meeting of April Offering quality employment – The Com- oversight. Frontera will report its progress in
12, 2021, became effective today (EGM of April pany reduced its total recordable incident rate in its annual Sustainability Report. Some of those
12, 2021). 2020 by 16% compared to 2019, and maintained benchmarks have been summarised below.
In view of the vacancy on the Board resulting a safe and healthy work environment across its Environment: Frontera’s 2021 environmen-
from this resignation, pursuant to article 141, operations. tal benchmarks aim for a greener and cleaner
paragraph 3, of Law 6,404/76, the first General Promoting a sustainable supply chain – Fron- future through the neutralisation of 40% of its
Meeting to be held will proceed to the new elec- tera organised a company-wide forum on the emissions by means of carbon credits or volun-
tion of the eight positions to the Board of Direc- importance of promoting local purchases and tary conservation projects, a 10% reduction of
tors, filled by multiple vote at the EGM of April implemented a strategy to award contracts to water consumption in operations to contribute
12,2021, and there is no obligation to call a spe- local companies in three categories of critical to sustainable water use and the protection and
cific Meeting for this purpose. services: lodging-catering, hardware, and the preservation of 630 hectares of strategic biologi-
The remaining Board Members may appoint transportation of dry and liquid cargo. cal corridors in Casanare and Meta in Colombia
a substitute to occupy the vacant position until Contributing to the sustainable development that benefit society, ecosystems and biodiversity.
the aforementioned General Meeting is held, of communities – In response to the ongoing Social: Frontera’s 2021 social benchmarks
based on Article 150 of Law 6,404/76 and Article COVID-19 health emergency, Frontera sup- seek to establish a thriving tomorrow for all by
25 of the Bylaws. ported projects to provide humanitarian aid encouraging a strong safety culture that works
Petrobras will keep the market informed including medical and safety supplies and food towards zero incidents in our operations,
about any decision regarding changes in its to neighboring communities in Colombia, increasing workplace quality, obtaining the
Board of Directors. Ecuador, Guyana and Peru . Equipares Gold Seal (gender equality certifica-
May 31 2021 Working in harmony with the environment tion) and promoting a culture that fosters being
– As part of Frontera’s commitment to climate inclusive, diverse, free of discrimination and har-
action, for the second consecutive year the Com- assment, with gender equality and work-life bal-
ESG pany used the CDP Climate Change question- ance and enhancing local development through
naire as a way to improve performance. Frontera initiatives, such as increasing the participation of
Frontera Energy releases its improved from band D in 2018 to band C in local services by 15% and setting the guidelines
2019, with improvements in the areas of risks
of the ethnic and local women entrepreneurship
2020 sustainability report and energy. programme.
Environmental, Social and Governance:
Governance: Frontera’s 2021 governance
Frontera Energy today released its 2020 Sustain- The Company has made significant progress in benchmarks aim to continue to strengthen
ability Report and reaffirmed its commitment to standardising and developing new visions for its Frontera’s reputation for outstanding corporate
develop new visions for environmental, social approach to ESG across its business to ensure governance, ensure that the culture of compli-
and governance (ESG) approaches across its better long-term alignment and integration ance is consistently promoted throughout the
business. throughout the organisation. Over the past year, organisation and work to integrate ESG-related
Orlando Cabrales, Frontera’s CEO, com- Frontera completed a top-to-bottom review of risks into the Company’s existing risk manage-
mented: “Frontera’s 2020 Sustainability Report its approach to sustainability, considering grow- ment framework.
highlights the progress the Company made over ing stakeholder expectations and global best Frontera Energy, May 26 2021

P16 www. NEWSBASE .com Week 22 03•June•2021