Buru Energy Ltd (ASX:BRU, OTC:BRNGF) has released its 2023 sustainability report, offering insight into the company’s operations and commitment to environmental and social responsibilities.
This year, Buru maintained its focus on safety and health, achieving a clean slate in terms of lost time to injuries, and avoiding any Tier 1 or Tier 2 spill incidents throughout the year.
The company also made progress in enhancing its environmental, social and governance (ESG) disclosures, aligning them more closely with the Global Reporting Initiative (GRI) standards and recommendations of the Task Force on Climate Related Financial Disclosures (TCFD).
Focus on energy transition and energy expansion
“During the year we have refined our goals related to Greenhouse Gas emissions, climate adaptation, resilience and transition, climate scenario analysis and biodiversity as part of our Sustainability Framework,” Buru Energy CEO Thomas Nador said.
“We also continued to invest in our dedicated energy transition subsidiaries involved in natural hydrogen and helium exploration, carbon capture and storage, and battery minerals exploration – elements of a global movement toward emissions reduction, energy transition and energy expansion.”
Buru achieved several goals set out in its 2022 report this year, including:
- Trial calculations of greenhouse gas (GHG) emissions
- Decomissioning activities, including recycling of steel components
- Completion of environmental survey
- Drafted recruitment procedure, diversity and inclusion procedure, and succession planning procedure
- Set long-term target for gender diversity employment
- Met aboriginal employment target at Ungani prior to suspension of production
- Formal policy and approach to Aboriginal engagement implemented, cultural awareness training completed for management and ground personnel.
- Reporting of standardised Tier 1 and 2 PSEs in place
- All Safety Critical Element maintenance completed on time in accordance with AIMP or MOC
- Emergency response drills reflecting operational risk developed and implemented
In contrast, the company acknowledges more progress will be necessary to achieve the following goals:
- Achieving training spend targets and reducing voluntary staff turnover below target
- Embed carbon price into business decision making
- Advancing the company’s net zero approach through its integrated energy projects
- Conduct fugitive emissions survey at Unganu once production resumes
“Our focus is on delivering long-term, sustainable growth to our stakeholders by exploring and developing energy resources in line with our strategy,” Nador said.
“In addition to building the value of our new energy businesses, we see the development and commercialisation of our Rafael resource as key to unlocking significant value for our shareholders, our Traditional Owner partners, suppliers, our employees, and local communities.”