- Africa Oil’s (AOI) net equity emissions decreased by 8 per cent in 2022 compared to 2021
- The company reduced gas flaring at its Nigerian assets by 27 per cent YoY
- Over 20 per cent of emissions were offset through the purchase of Verra certified carbon credits
- Additionally, a new diversity, equity and inclusion policy includes aspirational diversity targets at the board and management level
- Africa Oil is a Canadian oil and gas company producing and developing assets in Nigeria, Kenya and Guyana
- Africa Oil (AOI)
Africa Oil (AOI) announced net equity emissions of 117 kilo tonnes carbon dioxide equivalent during 2022.
The figure marks an 8 per cent decrease compared to 2021 and a significant step towards carbon neutrality, which the company aims to achieve by 2025.
Africa Oil’s 2022 sustainability report also highlights a 27 per cent YoY reduction in gas flaring at its Nigerian assets, where the company reported zero fatalities or lost-time injuries.
Additionally, more than 20 per cent of emissions have been offset through the purchase of Verra certified carbon credits.
Also of interest are a new diversity, equity and inclusion policy, which includes aspirational diversity targets at the board and management level, as well as expanded ESG disclosures with a taskforce on nature-related financial disclosures pilot and a global reporting initiative.
Africa Oil is a Canadian oil and gas company producing and developing assets in Nigeria, Kenya and Guyana.
Africa Oil (AOI) opened trading at $3.03 per share.
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