CRC Recognized with Leadership Level Ranking for 2022 Climate Disclosure by CDP for the Fourth Year in a Row

Rhea-AI Summary

California Resources Corporation (NYSE: CRC) achieved an A- from CDP for its 2022 climate disclosure, marking the fourth consecutive year at CDP’s Leadership Level. This recognition underscores CRC’s strong commitment to ESG and sustainability initiatives. President and CEO Mac McFarland highlighted the significance of this score in validating CRC’s approach to environmental management while focusing on low carbon energy. The company continues to advance its carbon management strategies, aiming for a Full-Scope Net Zero Goal by 2045.

Positive

• Achieved an A- score from CDP for 2022 climate disclosure for the fourth consecutive year.
• Demonstrated strong commitment to ESG and sustainability initiatives.
• Ongoing progress toward a Full-Scope Net Zero Goal by 2045.

Negative

• None.

LONG BEACH, Calif.--(BUSINESS WIRE)-- California Resources Corporation (NYSE: CRC) received an A- from CDP for its 2022 climate disclosure, securing a score at CDP’s Leadership Level for the fourth year in a row. This accomplishment is further evidence of CRC’s commitment to maintaining a strong ESG and sustainability platform.

Mac McFarland, CRC’s President and CEO, stated, “We are extremely pleased with CDP’s scoring of our 2022 climate disclosure. Our consistent leadership level rankings continue to validate CRC’s approach of valuing strong environmental, social and governance efforts while supporting energy transition. We continue to focus on providing low carbon intensity energy to meet California’s needs and advancing our carbon management strategy efforts.”

Chris Gould, EVP and Chief Sustainability Officer, continued, “We strive to demonstrate ESG leadership through detailed disclosure and pursuit of carbon reducing projects. We are pleased to be recognized by the CDP for our efforts. We continue to make progress on our 2045 Full-Scope Net Zero Goal and ESG goals and remain excited about our carbon management opportunities to help decarbonize California.”

CDP is an international non-profit that developed a robust global evaluation and scoring system to assess the world’s companies on their environmental transparency and performance. CDP scoring measures the comprehensiveness of disclosure, awareness and management of environmental risks and best practices associated with environmental leadership, such as setting ambitious and meaningful targets. The complete list of scores for companies from around the world can be found at http://www.cdp.net/.

For more information about ESG at CRC, please visit our Sustainability page at www.crc.com/ESG.

About CDP

CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. The world’s economy looks to CDP as the gold standard of environmental reporting with the richest and most comprehensive dataset on corporate and city action.

About California Resources Corporation (CRC)

California Resources Corporation (CRC) is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and CRC is focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing CCS and other emissions reducing projects. For more information about CRC, please visit www.crc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005380/en/

Joanna Park

Investor Relations

818-661-3731

Joanna.Park@crc.com

Richard Venn

Media

818-661-6014

Richard.Venn@crc.com

Urban Paul

HSE & Sustainability

661-412-5100

Urban.Paul@crc.com

Source: California Resources Corporation

FAQ

What is California Resources Corporation's CDP score for 2022?

California Resources Corporation received an A- from CDP for its 2022 climate disclosure.

How many years has CRC maintained its Leadership Level at CDP?

California Resources Corporation has maintained its Leadership Level at CDP for four consecutive years.

What are CRC's goals related to carbon management?

CRC aims to achieve a Full-Scope Net Zero Goal by 2045 and is focused on low carbon intensity energy.

Who commented on CRC's CDP score in the press release?

Mac McFarland, President and CEO of California Resources Corporation, commented on the CDP score.