We remain focused on key ESG initiatives including GHG emissions, abandonment and reclamation, strong and mutually beneficial Indigenous community relations, safety, and climate risk management.
Our drive for continual improvement is an important element of our culture. In 2019, we set three targets with respect to GHG emissions, fresh water use, and diversity and inclusion. Having met or exceeded these goals, we are now focused on four new targets that span our impacts on air, water, land, and people.
In 2019, we made significant improvements in our emissions profile, achieving a 15% reduction in our GHG emissions intensity as we commissioned our Peace River gas plant in mid-2018 and progressed our Viking gas conservation project. We remain committed to achieving our 30% target by the end of 2021.
This is Baytex’s fourth biennial sustainability report. Through this report, we communicate our environmental, social and governance metrics, achievements and challenges, and key initiatives in corporate responsibility. Please click on the link below to read our full 2018 Sustainability Report.
Baytex is pleased to participate in the Carbon Disclosure Project (CDP). The CDP is an independent, not-for-profit organization working to drive greenhouse gas emissions reduction and sustainable water use by business and cities .
In 2016, just as we met our financial targets, we continued our commitment to corporate responsibility, improved our performance and followed our action plan. Being a responsible company is also about environmental stewardship, being responsive to communities and remaining compliant with regulations. Stringent regulations bring challenges but the goodwill we have created with communities and regulators allows us to be part of a productive conversation. Please click on the report on the right to read our full 2016 Corporate Responsibility Report.
Baytex plans to prosper over the long term. To do so, we must create value for all of our stakeholders. This is what is called shared value. It’s not about simply making donations. Shared value is when our normal course of business responsibly creates value for all stakeholders. Developing oil and gas resources requires long-term commitment. Collaboration with a broad range of engaged stakeholders is important to achieve enduring success in resource development. Please click on the report on the right to read our full 2014 Corporate Responsibility Report.
We believe that by acting as a responsible company in all aspects of our operations, not just financial, we create long-term value for all stakeholders. That value can come in the form of employee opportunities for personal growth, an improved quality of life in communities where we operate, greater business opportunities for Aboriginal groups, and an attractive return on investment for shareholders. More broadly, society benefits from environmentally responsible development that produces reliable energy at a reasonable cost. Developing oil and gas resources requires a long-term commitment. Accordingly, we will continue to focus on creating value for all stakeholders over the long-term. Please click on the report on the right to read our full 2012 Corporate Responsibility Report.