Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) has published its annual sustainability report, for 2023.
This report, the company's fifth, showcases a 33% decrease in methane intensity which, as the company highlighted, surpasses its 2026 target for a 30% reduction and also sees it achieve its 2030 goal of a 50% reduction seven years early.
DEC also pointed to the responsible retirement of a company record of 404 wells.
The company added that its operations have significantly contributed to local economies, injecting over $1 billion into state GDPs and supporting nearly 8,000 jobs, and its community outreach efforts have included $2.1 million in grants and educational support,
It also highlighted advances in employee welfare and diversity initiatives, including an increase in gender diversity – with over 40% of the board members now being female.
"Diversified Energy continues to tackle the need for energy reliability, affordability, and sustainability head-on through our differentiated and proven stewardship model,” chief executive Rusty Hutson said in a statement.
“Our strength lies in our people, who together make up the extraordinary OneDEC culture.
“By providing solutions to reduce emissions, increase the efficiency of our wells, and safely produce energy for our communities before responsibly retiring them, Diversified is well-positioned to play a lead role in the energy transition today and into the future.
“The 2023 Sustainability Report provides our stakeholders with a clear understanding of our commitment to sustainability, the stewardship of our assets, and to the dedicated efforts of our employees.
“We are proud to be the Right Company at the Right Time that is laser-focused on delivering pace-setting environmental performance and social responsibility - all while providing critical and affordable energy that drives our modern world."
Investors can access and download the full sustainability report here.