Energy swap: Sustainability report 2024 records prominent progress within environmental and social standards and governance
Abu Dhabi, October 7/ WAM/ Mubadala Energy, the International Energy Company, which is based in Abu Dhabi, announced today, to achieve prominent progress in the areas related to environmental, social standards and governance, including reducing greenhouse gas emissions by 36.5% within the 1 and 2 ranges.
This came in the sustainability report for the year 2024, which also showed prominent achievements in the field of health, safety and community investment, while continuing to consolidate a record of an outstanding global energy exchange in governance.
In addition to reducing the total emissions, the company recorded a remarkable decrease in the density of emissions, from 15.57 to 6.95 tons of carbon dioxide equivalent per thousand barrels of equivalent oil, which is equivalent to a 55% decline compared to last year, as a result of carbon reduction initiatives and improving production efficiency.
The company also achieved an additional reduction by 12.8% in burning gas through its operating portfolio.
Mansour Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said that in light of the rapid transformations in the energy sector globally, cooperation with reliable partners and officials has become more important than ever, pointing out that the company continued to set sustainability, environmental standards, society and governance at the heart of its operations.
He added that the slogan of the company’s sustainability report this year, “People, Energy, Effect”, reflects its commitment to producing reliable and low -carbon energy, which contributes to meeting the priorities of energy security and supports the transformation process in the sector. It also translates its conviction that a person and the social impact must be at the heart of the company’s business.
He explained that the company has maintained a pioneering record in the field of health and safety, and continued to invest in the well -being of its employees and their development, pointing to the benefit of more than a million people to this day from its community programs, to extend its focus on people to include the societies that the company works with.
In terms of the environment, the company recorded remarkable progress, recycling 56% of the total waste thanks to the strengthening of waste management practices, and has developed and launched the first carbon pricing policy to support its strategy in reducing emissions and decision -making frameworks.
With regard to the social aspect, the report highlighted the achievements of 2024, which included maintaining the company’s death -free record since its foundation, which reflects the culture of health and proactive and accurate safety, in addition to the continuous investment in the development of employees, as the average training hours reached 64 hours for each employee.
The company also maintained the diversity of its workforce, through a team of 32 nationalities and the representation of women that exceeded the general average of the sector.
As for the governance level, the energy exchange continued to enhance its distinguished record, with no data breach for the sixth year in a row, as well as the establishment of a committee for the environment, society and governance that works to develop clear main performance indicators to reduce emissions, and to collect all dimensions of sustainability within one framework led by the senior management of the company.
The sustainability report for the year 2024 was prepared according to the standards of the GRI Initiative, and is partly in line with the international standard for preparing the IFRS S2 reports related to climate disclosure, as part of the company’s efforts to enhance its reports in line with the emerging global standards.
The report reviews the impact resulting from the company’s business during the year 2024 through the main performance indicators in areas such as operating and environmental impact, social contribution, human capital and governance.
The report also provides a detailed evaluation of the contribution of energy exchange in achieving the main sustainable development goals of the United Nations.
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