If a companys current emissions intensity is aligned with the assessment scenario used (or will be aligned in the short or medium term), it is assumed that the intensity will continue to be aligned in the long term. Climate-related matters may include the physical impacts of climate change and/or transition impacts from climate mitigation on the companys market, sector, business environment, and drivers of its costs and revenues. NEW YORK, June 22 (Reuters) - George Santos's father and aunt were identified on Thursday as the guarantors of the indicted U.S. representative's $500,000 bail, after Santos fought unsuccessfully to keep them anonymous. The company identifies the set of actions it intends to take to achieve its GHG reduction targets over the targeted time frame. The company discloses evidence of board or board committee oversight of the management of climate change risks via at least one of the following: There is a C-suite executive or member of the executive committee that is explicitly responsible for climate change (not just sustainability performance) and that executive reports to the board or a board level committee, and/or; The CEO is responsible for climate change AND he/she reports to the board on climate change issues, and/or; There is a committee (not necessarily a board-level committee) responsible for climate change (not just sustainability performance) and that committee reports to the board or a board-level committee. The use of offsetting or carbon credits should be avoided and limited, if at all applied. We engage with listed companies on their climate risk disclosure and the need to set emissions reduction targets consistent with the Paris Agreement, and we also push for reviews by listed companies of their industry associations climate policy advocacy. For example, offsetting would not be considered credible if used to offset emissions for a coal-fired power plant because viable alternatives exist to coal-fired power plants. . We allege that Santos misled investors and the public about its plan to achieve net zero by 2040 and to produce "zero-emissions" blue hydrogen. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk Unknown The programme helps employees transform ideas into action, stimulating solidarity together with the community. Alignment Assessments (formerly called Capital Allocation Assessment Indicators) complement the Disclosure Framework. The methodology quantifies key outcomes, including the share of its future capital expenditures that are aligned with a 1.5 Celsius scenario, and the year in which capital expenditures in carbon intensive assets will peak. COMPANY'S RECENT ACTIONS: In the most recent full year (2020), were all the companys upstream oil and gas CAPEX projects consistent with the International Energy Agency's (IEA) Beyond 2C Scenario (B2DS)? We develop and improve policies and mechanisms to facilitate our decision making at all Santos Ltd. | Climate Action 100+ Indicator 9 is still in development and will not be assessed in the current cycle. The information issupplementary,unaudited and does not guarantee a scoring change in future iterations of the benchmark. Contingency: Metric 7.3b cannot be Yes unless Metric 7.3a is also Yes. Sustainability Report, however, Santos Limited (Santos) does not warrant or represent its accuracy. The company has named a position at the board level with responsibility for climate change, via one of the following: A board position with explicit responsibility for climate change, or; CEO is identified as responsible for climate change, if he/she sits on the board. This Metric focuses on the use of assumptions and estimates that are best estimates of scenarios aligned with achieving net zero emissions by 2050 or sooner (aligned assumptions), or the provision of a sensitivity analysis using such assumptions and estimates. The company explicitly commits to align future capital expenditures with the Paris Agreements objective of limiting global warming to 1.5 Celsius. Some year-on-year scoring changes are therefore anticipated. Company reporting | Santos 2.3 is not currently conditional on 2.1 or 2.2. Contingency: Metric 6.2a cannot be Yes if either 6.1a or 6.1b are not Yes. Get email updates about new ACCR research and shareholder advocacy on specific topics of interest to you. We continuously reinforce the culture of transparency and These measures clearly refer to the main sources of its GHG emissions, including scope 3 emissions where applicable. It was developed with a focus on the UN Sustainable Development Goals. GreenAt the overall Indicator level, the company receives a Yes on all Sub-indicators and Metrics that make up the indicator. The information issupplementary,unaudited and does not guarantee a scoring change in future iterations of the benchmark. Geneva presentation of the Financing for Sustainable Development Report The company has specified that this target covers at least 95% of total scope 1 and 2 emissions. Climate change Sa - Yumpu The companys decarbonisation strategy includes a commitment to green revenues from low carbon products and services. The financial statements are consistent with the companys other reporting. Sustainability | Santos 2022 Sustainability Report | Newcrest Code of Conduct, and The company has set an ambition to achieve net-zero GHG emissions by 2050 or sooner. The company has a Paris Agreement-aligned climate lobbying position and all of its direct lobbying activities are aligned with this. Contingency: Sub-indicator 5.1 is contingent on Sub-indicators 2.1- and 3.1 being Yes. Sustainability Report 2012 - Santos. CEP: 04534-011. This was the first court case in the world to challenge the veracity of a companys net zero emissions target, and raises important questions about the role of carbon capture and storage (CCS) and blue hydrogen in the transition to zero emissions. Santos has opposed the document being made freely available on the Federal Court website. Download the disclosure framework methodology to learn more. It does not represent modelled reductions in Santos own emissions, but instead is a nominal number making up the difference to net zero; the Hydrogen with CCS portion of the Net Zero plan also reflects offsets which Santos will apparently seek to procure. Santos Brasil structures and supports social inclusion initiatives selected by the company with the objective of PDF Sustainability Report 2014 The board has sufficient capabilities/competencies to assess and manage climate related risks and opportunities. The long-term (2036 to 2050) GHG reduction target covers at least 95% of Scope 1 & 2 emissions and the most relevant Scope 3 emissions (where applicable). The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. The company has set a target to increase the share of green revenues in its overall sales OR discloses the green revenue share that is above sector average. The Carbon Tracker Initiative (CTI) conducted the company disclosure research and analysis. Provided by Carbon Tracker Initiative, this assessment relates to Indicator 6 (Capital Alignment) of the Disclosure Framework. The company, in partnership with its workers, unions, communities and suppliers has developed a Just Transition Plan. Sub-indicator 5.1 is not conditional on 2.3 and/or 3.3 (net-zero alignment), i.e. The company discloses the methodology and criteria it uses to assess the alignment of its capital expenditure plans with its decarbonisation goals, including key assumptions and key performance indicators (KPIs). With that monitoring, operations are rigorously controlled and meet the applicable legislative standards, besides being audited and certified by the relevant international bodies. The audit report identifies that the assumptions and estimates that the company used were aligned with achieving net zero GHG emissions by 2050 (or sooner) or provides a sensitivity analysis on the potential implications. regeneration, access to clean and affordable energy, site repurposing) in regions affected by decarbonisation. This course has a duration of 15 months and technical and theoretical classes are administered by voluntary employees at Tecon Santos. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. the Hydrogen with CCS portion of the Net Zero plan also assumed that Santos would blend 30-50% hydrogen into the natural gas network, whereas Santos had no reasonable basis for assuming it could blend more than 10%. NET ZERO ANALYSIS: What is the companys oil and gas production level in the 2030s (against a 2021 baseline) assuming no new oil and gas projects are sanctioned as stated by the IEA's Net Zero Emissions by 2050 Scenario (NZE)? The higher the percentage of CAPEX opportunities inconsistent with B2DS, the more exposed the company is to invest in and create stranded upstream assets. At least 11 media organizations had opposed anonymity for the guarantors, citing the public interest. An inconsistency between the discussion of climate matters outside the financial statements and consideration in the financials could result in a material misstatement in reporting. Beta = data collected, but not publicly assessed. Sub-indicator 3.3 is not currently conditional on 3.1 or 3.2. In order to be assessed as Yes on this Metric in the March 2022 iteration, companies must quantify the approximate proportion of emissions reduction each action in their decarbonisation strategy will contribute to their overall greenhouse gas reduction target. (shown in 2020 real terms Brent equivalent US$ prices). Santos Ltd - AnnualReports.com Question 5 ABC ASSIGNMENT.docx - Santos Limited and their Climate Action 100+ has launched its next phase to inspire greater corporate climate action in this critical decade. Santos today released its 2022 Sustainability Report, demonstrating how the principles of sustainability are central to the way Santos operates its business and delivers its strategy. PDF Sustainability Performance Report - Santos 5.1 can be Yes and 2.3/3.3 No. Plus list companies represent over 60 others that were identified via investor consultation and targeted for investor engagement. These companies either present climate-related risks to investor portfolios or have significant opportunities to drive the net zero transition that is not captured by emissions data alone. 31 sports projects (Federal Law of Incentive to Sports and Promifae), 7 cultural projects (Federal and Municipal Law of Incentive to Culture), 3 children and adolescents projects (Funds for the Rights of Children and Adolescents). and local development. InfluenceMap provides detailed analyses of corporate climate policy engagement and the alignment of company climate policy engagement actions (direct and indirect via their industry associations) with the Paris Agreement goals. Contingency: Metrics 2.2a and 2.2b cannot be Yes unless sub-indicator 2.1 is also Yes. The company has set an ambition to achieve net zero GHG emissions by 2050 or sooner. This Metric focuses on financial statements. Santos Ltd. COMPANY INFORMATION Sector Oil & Gas Sector cluster Energy ISIN (S) AU000000STO6 SEDOL CODE 6776703 MARKET CAPITALISATION GROUP Large FOCUS COMPANY TYPE Plus list COMPANY HEADQUARTERS Australia, Australasia ABOUT THE COMPANY ASSESSMENTS Therefore, it is possible to have No on 4.1 but Yes on 4.3. Throught this programme, we encourage employees to devote their time and talent to volunteering projects and actions developed and supported by the company. The result of this effort is the inclusion of shares from Santos Brasil in the debut portfolio of the S&P/B3 Brasil ESG Index, jointly elaborated by S&P Dow Jones Indexes and B3 S.A. Anyone seeking to rely on information in this report or draw detailed conclusions from the data should contact Santos via email: sustainability@santos.com. NY Dem Goldman to GOP on Schiff censure: 'You are the party of George Offsetting or carbon dioxide removal should not be used by companies operating in sectors where viable decarbonisation technologies exist. The short-term (up to 2025) GHG reduction target covers at least 95% of scope 1 & 2 emissions and the most relevant scope 3 emissions (where applicable). Assessments of the companys publicly disclosed information against each indicator, sub-indicator, and metric provide information on the companys alignment with the Climate Action 100+ goals. Oil prices shown in 2020 real terms Brent equivalent using 2% inflation adjustment (unless the company specifies another rate). DownloadCTIs oil and gas assessment methodologyto learn more. The level of company support for (or opposition to) Paris-aligned climate policy. The larger the decline in the companys current oil and gas production in a world transitioning to meet the higher-end goal of the Paris Agreement, the larger the strategic challenge for the company to replace earnings and cash flow generation. This sets out a pathway to reach net zero emissions by mid-century and keep the global temperature rise to 1.5C with a 50% probability. Integrated sustainability. The company has set a target for reducing its GHG emissions by between 2026 and 2035 on a clearly defined scope of emissions. Currently, the International Energy Agencys Net Zero Emissions by 2050 Scenario and related price deck are used for this assessment, where applicable. ACCR claims that by making the above representations, Santos has engaged in conduct that was misleading or likely to mislead in contravention of s 1041H of the Corporations Act 2001 (Cth) and/or s 18 of the Australian Consumer Law (ACL) (Schedule 2 of the Competition and Consumer Act 2010 (Cth)). The Report outlines Santos' sustainability aspirations, targets and performance, as well as areas of ongoing focus. These indicators reflect the companys publicly disclosed information as of February 5, 2021, with oil and gas capex model data from Rystad Energy as of March 2020. The Report outlines Santos sustainability aspirations, targets and performance, as well as areas of ongoing focus. These alignment assessments from Carbon Tracker Initiative (CTI) analyseupstream oil and gascompanies potential capital expenditures (CAPEX) for unsanctioned carbon-emitting assets relative to a range of climate change scenarios. Photograph:. Santos Sustainability Report 2007 B2DS is a rapid-transition scenario equivalent to an estimated 1.75C of global warming in this century (with an approximate 50% probability). This is in contrast to the March 2021 release for which this company was assessed against TPIs Below 2 Degrees Scenario. This is captured by Indicators 2.3, 3.3 and 4.3. These assessments reflect companies publicly disclosed information and impairment prices in annual reports up until 30 June 2022 and with oil and gas CAPEX model data from Rystad Energy as of May 2022. Australasian Centre for Corporate Responsibility, Australasian Centre for Corporate Responsibility (ACCR), https://www.fedcourt.gov.au/services/access-to-files-and-transcripts/court-documents, J-POWER faces second consecutive year of shareholder dissent on climate at AGM, Australasian Centre for Corporate Responsibility updates case against Santos in Federal Court. Santos' relatives were identified after U.S. District Judge Joanna Seybert in Central Islip, New York, in a decision made public on Thursday, upheld a magistrate judge's rejection of Santos' request that their names be kept under wraps. Climate Accounting and Audit (Provisional Assessment), Climate Accounting and Audit (Overall Score). Explore InfluenceMaps full ranking of Climate Action 100+ focus companies. Companies that sanctioned CAPEX opportunities inconsistent with B2DS in the most recent full year are more likely to create stranded upstream assets. The company discloses its trade associations memberships. EN. We annually present our economic, social and environmental results to the relevant stakeholders in a transparent and objective way. Santos Sustainability Report 2007. The target (or, in the absence of a target, the company's latest disclosed GHG emissions intensity) is aligned with the goal of limiting global warming to 1.5C. Other reporting includes other sections of the annual report (or similar filing) and may also include separate reporting such as sustainability reports, TCFD reports, analyst presentations, and the companys website. As the name suggests, net zero emissions is reached by 2050. Scores may therefore be not directly comparable between Benchmark iterations. Santos seeks to work with contractors and suppliers who are economically, environmentally and socially responsible. Sub-indicator 2.3 is not currently conditional on 2.1 or 2.2. Sub-indicator 5.1 is not conditional on 2.3 and/or 3.3 (net zero alignment), i.e. ESG Consulting Director Kyle Santos Consulting Ltd. Sep 2016 - Oct 20204 years 2 months Trinidad and Tobago PwC 7 years 11 months Global Corporate Responsibility Measurement & Reporting Manager. Final Investment Decision on Phase 1 Pikka oil project (Alaska). Santos Sustainability Report 2007 - Yumpu It owns liquefied natural gas (LNG), pipeline gas, and oil assets. This is in contrast to the March 2021 assessment for which this company was assessed against TPIs Below 2 Degrees Scenario. Download Report - Santos. Annual and Sustainability Reports. Companies may fall into one of three size groups as determined by, : Large Cap, Mid (Medium) Cap, and Small Cap. For more information on data collection and feedback, see the review and redress process. In a partnership with the Iochpe Foundation, Santos Brasil maintains the Formare Aprendiz Programme, which offers a course of Administrative Assistant in the Port Area for young people in a socio-economic vulnerability situation. At the Sub-indicator level, the company receives a No for all Metrics that make up the Sub-indicator. Offsets arenow explicitly referred to in the methodology for Sub-indicator 5.1, which asks thatanydecarbonisation strategyclearly identifies the set of actions the company will implement to achieve its decarbonisation targets (such as phasing out carbon intensive products or assets, developing or deploying low carbon technologies, decarbonising supply chainsor using offsets).. Santos last month was indicted on 13 federal charges that accuse him of misleading campaign donors, fraudulently receiving unemployment benefits and lying on financial disclosures. NZE is an accelerated decarbonisation pathway, equivalent to 1.5C of global warming in this century with a 50% probability and little overshoot (i.e., early emissions reductions and limited reliance on post-2050 negative emissions). It may also leave investors vulnerable to major losses and potentially unfairly skew the market away from companies that are acting responsibly.. Capital allocation analyses for companies in other sectors are expected to be developed in the future. The financial statements reviewed are as of 31 December 2021. Examples of key elements include: changing technology or product mix, supply chain measures, R&D spending, etc. Details related to this companys Carbon Performance assessment conducted by TPI may be viewed here. Following a merger between Santos and OilSearch in December 2021, future engagement will be on the merged company, Santos, and future iterations of the Benchmark will only assess Santos. Last year the Australasian Centre for Corporate Responsibility (ACCR) commenced proceedings in the Federal Court alleging that Santos Ltd has breached the Corporations Act 2001 (Cth) and the Australian Consumer Law by engaging in misleading or deceptive conduct relating to its clean energy claims and its Net Zero plan in its 2020 Annual Report. Santos Limited - Wikipedia IMPAIRMENT PRICE INDICATOR: Are the company's commodity price forecasts going up, going down, or flat? Contingency: Metrics 4.2a and 4.2b cannot be Yes unless Sub-indicator 4.1 is also Yes. The disclosure assessment indicators reflect publicly disclosed information as of January 22, 2021. At the Sub-indicator level, the company receives a Yes on at least one Metric that makes up the Sub-indicator. Contents CEO. Relationship Score (expressed as a percentage from 0 to 100) is a measure of how supportive or obstructive the companys industry associations are towards climate policy aligned with the Paris Agreement, with 0% being fully opposed and 100% being fully supportive. This is in contrast to the March2021 assessment for which this company was assessed against TPIs Below 2 Degrees Scenario. 2022 Annual Report. These scores reflect InfluenceMaps assessment as of the 1st September 2022. A just transition requires the company to consider the impacts of transitioning to a lower-carbon business model on its workers and communities. If a companys current emissions intensity is aligned with the assessment scenario used, it is assumed that the intensity will continue to be aligned in the short term. *, Medium-term (2026-2035) GHG reduction target(s). For example, a company with a 2030 target but no targets thereafter will have its 2030 data point compared with the benchmark value in 2050. For March and October 2022, this company was assessed against TPIs 1.5 Degrees scenario. You are the party of George Santos. For 2022, this company was assessed against TPIs 1.5 Degrees scenario. IMPAIRMENT PRICE INDICATOR: What is the maximum price in the companys commodity price forecast? Seybert called it "disingenuous" to suggest that Santos' father and aunt might be endangered, noting that they came forward to offer help after the congressman's high-profile arraignment and expressed no concerns about guaranteeing bail. Unsanctioned projects are at a pre-final investment decision (pre-FID) stage, meaning they sit before the full project-related CAPEX commitment has been made. broadening opportunities for access to education, culture and sports, and for the promotion of citizenship The market capitalisation of each company was determined as of August 30th, 2022. CAPEX ANALYSIS: What is the percentage of the company's potential future oil and gas CAPEX that is inconsistent with the IEA's Beyond 2C Scenario? More detailed information can be found here. Long-term (2036-2050) GHG reduction target(s). He pleaded not. I look forward to continuing this process & I ask for the media to not disturb or harass my dad & aunt for the sakes of cheap reporting. Santos' Sustainability Report 2011, which Our Standards: The Thomson Reuters Trust Principles. Therefore, we constantly improve our environmental management standards by following and controlling greenhouse gas (GHC) emissions, water consumption, and residue generation in our units. SAfETY AND SUSTAINABILITY Santos' safety performance has improved by 40% over the past three years, with a total recordable case frequency rate (a standard industry measure) of 3.3 recordable injuries per million hours worked in 2011. Contingency: Metrics 3.2a and 3.2b cannot be Yes unless sub-indicator 3.1 is also Yes. We use Mailchimp for email updates and the Mailchimp privacy policy applies. cut-off date and are not reflected in the current version of the company assessment. The medium-term (2026 to 2035) GHG reduction target covers at least 95% of Scope 1 & 2 emissions and the most relevant Scope 3 emissions (where applicable). He announced in April that he would seek reelection in November 2024. Respectively, 2.1/2.2.a/2.2.b will be Yes if 3.1/3.2.a/3.2.b are Yes and are net zero targets (i.e. and values that we adopt, such as our 2022 Sustainability Report. The Newcrest Integrated Sustainability Framework (ISF . The company discloses the methodology it uses to align its future capital expenditures with its decarbonisation goals, including key assumptions and key performance indicators (KPIs). Again, it does not represent modelled reductions in Santos Scope 1 and 2 emissions, but instead depends upon Santos receiving offsets for reducing its customers Scope 1 and 2 emissions through the sale of blue hydrogen. The company explicitly commits to align its capital expenditure plans with the Paris Agreements objective of limiting global warming to 1.5 Celsius AND to phase out investment in unabated carbon intensive assets or products. We respect the policy of disclosure of information and negotiation of mobiliary values Sustainability Report 2012 - Santos The company has set a target for reducing its GHG emissions by between 2036 and 2050 on a clearly defined scope of emissions. 7.3.b should not be able to be Yes unless 7.3.a is also Yes). for the potential storage of CO2 in offshore Carnarvon and Bonaparte basins in Western Australia. More ACCR company analysis and engagement: Santos Ltd is one of the largest oil and gas producers in Australia. The company lists its climate-related lobbying activities, e.g., meetings, policy submissions, etc. Santos has committed to achieving net zero Scope 1 and 2 emissions only on the project (part of its. Exclusive news, data and analytics for financial market professionals, Reporting by Jonathan Stempel in New York; Editing by Alistair Bell and Daniel Wallis, Corporate attorneys dont want to pay law firms for ChatGPT whenthey could use it themselves, How litigation funding drives progress in the ESG agenda, US judge facing competency probe asks court to block her suspension, How law firms calculate greenhouse gas emissions, Hollywood actors extend contract talks, temporarily averting strike, Shell's renewables boss to leave after CEO strategy shift, Nokia renews patent license agreement with Apple, Biden concerned Supreme Court LGBT rights ruling could lead to more discrimination.
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