SELECT WATER SOLUTIONS ANNOUNCES RELEASE OF 2022 SUSTAINABILITY REPORT
2022 Sustainability Report marks significant milestone for Select, as the first year the Company is publicly releasing its Scope 1 and Scope 2 emissions data
In 2022 Select treated or recycled 17.7 billion gallons of water, on a pro forma basis for recent acquisitions, a
Select meaningfully exceeded the initial annual water recycling and employee safety targets embedded in the Company's sustainability-linked credit facility for 2022 by
John Schmitz, Chairman of the Board, President and CEO, stated, "Select is committed to providing sustainable full-life-cycle water and chemical solutions to our customers, and we welcome the opportunity to provide details on our ESG initiatives and environmental stewardship with our second annual Sustainability Report. Our distinct position as the premier water and chemistry company in the energy industry allows us to implement and execute a strategy that effectively serves our customer's needs and goals, in a manner that is sustainable and environmentally friendly to the communities in which we operate. Responsible and ethical practices for our environment, customers, and employees is core to our corporate mission. We believe the issuance of our second annual Sustainability Report, with expanded reporting metrics and information, further exemplifies our commitment to accountability, transparency, and sustainable solutions.
"Additionally, we are intensifying our commitment to report on opportunities related to emissions reductions. As part of our emissions strategy, we are investing in innovative technologies and operational enhancements such as equipment automation, ventless flowback programs, emission mitigation technologies, electric pumps, and fuel management strategies with the goal of decreasing our emissions footprint. In conjunction with these efforts, 2022 marks a significant milestone as the first year Select is publicly releasing its Scope 1 and Scope 2 emissions data, utilizing EPA guidance and calculation methodologies. Further exemplifying our commitment to sustainability, we completed the first year of performance against our produced water recycling and safety performance targets associated with our sustainability-linked credit facility and are proud to announce that we meaningfully exceeded both goals in 2022. We aim to further grow our water recycling and treatment operations in 2023 and will always be acutely focused on creating a safe workplace for our employees and positive social impact in our areas of operation across the country. Our commitment to deliver safe, reliable, and sustainable solutions helps our customers achieve their ESG targets while strengthening our ability to generate superior investor returns. We believe the ongoing advancement in our integrated water and chemical solutions works in tandem with our corporate responsibility initiatives and will provide value to our stakeholders," concluded Mr. Schmitz.
Select's 2022 Sustainability Report details the policies, processes, procedures, and performance by which Select establishes and advances Environmental, Social, and Governance ("ESG") goals and criteria, as well as how the Company aims to act as a force for environmental stewardship and promote sustainable development in communities in which it operates.
Highlights of Select's 2022 sustainability report include:
- Reported key ESG performance metrics guided by recommended external disclosure frameworks
- Disclosed Scope 1 and Scope 2 emissions data utilizing EPA guidance and calculation methods, along with Company updates on emissions reduction initiatives
- Meaningfully surpassed the annual threshold and target levels for both total recordable incident rate ("TRIR") (
49% outperformance) and recycled produced water via fixed facilities (118% outperformance) as outlined in Select's Sustainability-Linked Credit Facility - Reported a
101% year-over-year increase of total treated or recycled water to 17.7 billion gallons on a pro forma basis for recent acquisitions, including the acquisition of Breakwater Energy Partners, which closed on November 1, 2022 - Achieved a
41% year-over-year increase in recycled produced water as a % of total water sales - Increased wastewater disposal volumes by
66% year-over-year - Maintained a diverse workforce comprised over
50% of minority groups, with46% of employees in management represented by ethnic and gender diverse groups - Achieved a lost time incident rate ("LTIR") of 0.20 and a TRIR of 0.62
97% of chemicals sourced from companies with active or partially-implemented ESG or sustainability programs, an increase of 8 percentage points compared to the prior year
The 2022 Sustainability Report reviews the application of Select's business principles and supporting policies across the business and includes both information-based discussions with internal and external stakeholders as well as consultations with third-party experts. This report was guided by the recommended disclosures laid out by the Task Force on Financial Climate-related Disclosures ("TCFD"), the topics recommended by the Sustainability Accounting Standards Board ("SASB") Sustainable Industry Classification System® ("SICS") for the Oil & Gas Services, Water Utilities and Chemicals industries, and the reporting standards established by the Global Reporting Initiative ("GRI"). Select intends to regularly report on our ESG policies, procedures, and performance, both on our website and through our annual Sustainability Report. Readers are encouraged to read the Sustainability Report in its entirety, which is accessible at https://www.selectwater.com/sustainability/.
About Select Water Solutions, Inc.
Select is a leading provider of sustainable water and chemical solutions to the energy industry. These solutions are supported by the Company's critical water infrastructure assets, chemical manufacturing and water treatment and recycling capabilities. As a leader in sustainable water and chemical solutions, Select places the utmost importance on safe, environmentally responsible management of water throughout the lifecycle of a well. Additionally, Select believes that responsibly managing water resources throughout its operations to help conserve and protect the environment is paramount to the Company's continued success. For more information, please visit Select's website, https://www.selectwater.com/.
Cautionary Statement Regarding Forward-Looking Statements
All statements in this communication other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as "could," "believe," "anticipate," "expect," "intend," "project," "will," "estimate" and other similar expressions. Examples of forward-looking statements include statements regarding our future business strategy and plans. Although we believe that the expectations reflected, and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include the risks that the benefits contemplated from our recent acquisitions may not be realized, the ability of Select to successfully integrate the acquired businesses' operations, including Breakwater's employees, and realize anticipated synergies and cost savings and the potential impact of the consummation of the acquisitions on relationships, including with employees, suppliers, customers, competitors and creditors. Factors that could materially impact such forward-looking statements include, but are not limited to: the global macroeconomic uncertainty related to the
Contacts: | Select Water Solutions |
Chris George – Senior Vice President, Corporate | |
Development, Investor Relations & Sustainability | |
(713) 296-1073 | |
Dennard Lascar Investor Relations | |
Ken Dennard / Natalie Hairston | |
(713) 529-6600 | |
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SOURCE Select Water Solutions
