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Denbury Inc. (NYSE: DEN) announced its 2021 Corporate Responsibility Report, highlighting sustainability achievements from 2019-2020. The report emphasizes a commitment to transparency, adhering to GRI Standards and SASB recommendations. Key accomplishments include negative Scope 1 and 2 emissions for both years, a 12% reduction in overall emissions since 2018, and the transport of 3 million metric tons of CO2 annually. Additionally, the Company achieved a 28% reduction in total recordable incident rates and boasts 25% female representation on its Board.
Positive
Achieved negative Scope 1 and Scope 2 carbon emissions for 2019 and 2020.
Reduced total Scope 1, Scope 2, and Scope 3 emissions by 12% since 2018.
Transported and injected approximately 3 million metric tons of industrial-sourced CO2 annually.
Reduced total recordable incident rate by 28%, achieving a record low.
Board of Directors has 25% female representation.
Negative
None.
PLANO, Texas--(BUSINESS WIRE)--
Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced the publication of its 2021 Corporate Responsibility Report. The report demonstrates the Company’s continued dedication to disclosure aligned with leading sustainability reporting frameworks, with preparation in accordance with the Global Reporting Initiative Sustainability Reporting Standards ("GRI Standards") as well as indicators and recommendations from the Sustainability Accounting Standards Board (“SASB”) and the Task Force on Climate-related Financial Disclosures (“TCFD”).
The report focuses on Denbury’s performance during the 2019 and 2020 calendar years and encompasses the foundation of our corporate responsibility strategy: Our Company, Our People, Our Environment and Our Communities. Highlights include:
Delivered negative Scope 1 and Scope 2 carbon emissions for each year
Reduced total Scope 1, Scope 2, and Scope 3 emissions by 12% since 2018
Annually transported and injected an average of approximately 3 million metric tons of industrial-sourced CO2
Reduced our employee and contractor combined total recordable incident rate by 28% to a Company record low level
Board of Directors with 25% female representation and a Sustainability Committee focused on providing oversight on important health and safety, climate change, environmental, social and community strategies and risks
Chris Kendall, Denbury’s President and CEO commented, “I am proud to share our 2021 Corporate Responsibility Report, highlighting Denbury’s accomplishments and commitments in operating as a responsible and sustainable enterprise. As the world demands energy to fuel tomorrow’s economy and provide a better quality of life, Denbury is uniquely positioned to provide energy while also reducing atmospheric CO2 emissions. With Denbury’s strategically located assets and extensive experience, we are extremely well positioned to lead in the reduction of CO2 emissions through Carbon Capture, Utilization and Storage. Today, our use of industrial-sourced CO2 in enhanced oil recovery fully offsets our Scope 1 and 2 emissions and we have a goal to become Scope 3 net carbon negative by the end of this decade by expanding our use of industrial-sourced CO2. We are dedicated to being a leader in sustainability and welcome your feedback as we continue to create a new energy future.”
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO2. The Company currently injects over three million tons of captured industrial-sourced CO2 annually, and its objective is to fully offset its Scope 1, 2, and 3 CO2 emissions within this decade, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. For more information about Denbury, visit www.denbury.com.
