Encana’s 2013 Sustainability Report Reinforces Strategic Importance of Responsible Development
June 10, 2014 (Source: Marketwired) — Encana Corporation (TSX: ECA) (NYSE: ECA) has issued its 2013 Sustainability Report, highlighting the company’s environmental, social and governance (ES&G) performance for the past calendar year. Following a year of significant change for the company, including the appointment of a new President & Chief Executive Officer and the announcement of a new corporate strategy, the report highlights challenges, achievements and opportunities facing Encana as it strives to establish itself as North America’s leading resource play company.
Highlights from the report include:
- The creation of a dedicated Policy, Environment & Sustainability team with the mandate of integrating financial, environmental, social and ethical considerations into the execution of Encana’s new business strategy.
- Continued investment in technologies that economically improve the company’s environmental performance. In 2013, Encana’s Environmental Innovation Fund (EIF) marked a major milestone — reaching over 1.1 million tonnes of carbon dioxide equivalent emissions avoided since the fund’s creation. The company invested approximately $6.8 million through the EIF in 2013 and, since the creation of the fund, has cumulatively conserved approximately 8 billion cubic feet of natural gas.
- Sustained year-over-year reductions in reportable spill volumes, due in large part to the continued advancement of spill reporting, management and prevention practices.
- Examples of industry-leading water management technologies, including Encana’s Neptune Water Treatment facility in Wyoming, the Water Resource Hub project near Dawson Creek, British Columbia and an alternative water sourcing project near Grande Prairie, Alberta in support of the company’s Pipestone operations.
- Strategic partnerships with post-secondary institutions, industry peers, regulators and other groups on a number of topics including fugitive methane and volatile organic compound emissions, water sourcing and workforce planning.
- Remarkable commitment from Encana employees to the communities where they live and work. The company’s 2013 Encana Cares campaign generated over $1.8 million with donations from over 1,850 employees to approximately 1,380 charities.
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“We have seen a number of significant changes at Encana over the past year and, as a result, we have taken a hard look at how our sustainability programs align with and support our new corporate strategy,” said Dave Lye, Vice-President, Policy, Environment & Sustainability. “This year’s report highlights a number of significant environmental, social and governance accomplishments, as well as a number of areas that we will need to continue to focus on in order to become North America’s leading resource play company.”
For more information on Encana’s 2013 sustainability performance, including data for key environmental, social and governance indicators, visit www.encana.com/sustainability. Encana reports in U.S. dollars unless otherwise noted.
Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs). By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates. Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.
Further information on Encana Corporation is available on the company’s website, www.encana.com.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>