International Petroleum Corp.2022年CSR報告.pdf

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1、SustainabilityReport2022We are equally committed to creating an inclusive and respectful workplace.Our 2022 Respect for the Workplace program promoted working in a harmonious environment.Furthermore,we conducted our first employee engagement survey and had an outstanding participation rate of over 8

2、5%.We have listened to the feedback and will continue to build upon our strengths in the coming year while actively addressing areas where we can improve.We firmly believe that the extraction of natural resources should not only drive economic development but also benefit the communities we operate

3、in.Our activities have generated significant government revenues of 154 MUSD in the countries where we operate.We also conduct regular engagements with local communities,providing support when possible.To formalize our commitment to these communities,we have developed a community investment framewor

4、k for IPC,guiding us in strategic initiatives for community development.Lastly,we would like to pay tribute to our founding Chairman,Lukas Lundin,who sadly passed away in July of 2022 after a courageous battle with glioblastoma.Lukas was an exceptional value creator in the primary resource industry,

5、the epitome of an entrepreneur whose passion for business and life was unmatched.At IPC,we are committed to upholding the Lundin family values and carrying forward his remarkable legacy.We would like to thank all our employees for their exceptional performance in 2022 and express gratitude to all st

6、akeholders for their collaboration and trust.With our collective commitment and relentless pursuit of excellence,we will continue to lead the way in providing responsibly sourced energy and delivering lasting value for all.Sincerely,Mike NicholsonPresident and CEOIPC is dedicated to providing sustai

7、nable energy to the world.Recent events have highlighted the importance of energy security for long-term economic growth.As an oil and gas producer,we play a crucial role in meeting the global demand for energy while minimizing our environmental impact.We recognize the growing interest of our stakeh

8、olders in our environmental,social,and governance(ESG)management and understand the importance of continually improving our sustainability disclosure.We therefore adhere to sustainability frameworks and standards such as the Global Reporting Initiative(GRI),Task Force on Climate-related Financial Di

9、sclosures(TCFD),and Extractive Sector Transparency Measures Act(ESTMA).Additionally,we adhere to the UN Sustainable Development Goals(SDGs)and UN Global Compact principles.These efforts align with the expectations of our stakeholders.In the past year,we achieved multiple significant milestones.We su

10、ccessfully completed a major investment program of USD 163 million across our assets in France,Malaysia,and Canada.This led to record-breaking production performance,surpassing 50 Mboepd in the third quarter with an annual average production of 48.6 Mboepd.Looking ahead,we have sanctioned IPCs first

11、 large greenfield development project,setting the stage for future growth and success.Regarding sustainability,we have made notable progress in climate action.Our operational emission reduction efforts have resulted in a more than 10%decrease since announcing our climate strategy in 2020.We have als

12、o signed a virtual green power purchase agreement with TC Energy,contributing to green energy transition in Alberta.In addition,we have expanded our carbon compensation efforts by offsetting a substantial share of our 2022 CO2 emissions.These initiatives put us on track to achieve a 50%reduction in

13、our net emissions intensity by 2025.While celebrating our achievements,we must also acknowledge the challenges we encountered during the year.On the safety front,we fell short of our safety aspirations.To address this,we have identified the causes,shared lessons learned,and developed comprehensive a

14、ction plans for 2023.Building and retaining a strong safety culture remains a top priority.Message from the CEOContentsOur Approach to Sustainability2Sustainability Data32GRI Index38Ethics&Integrity12Rewarding Workplace15Health&Safety18Community Engagement21Climate Action25Environmental Stewardship2

15、82IPC Sustainability Report 20222022 HighlightsOperational emissionreductions(2020-2022)125,000 t CO2eWomen in the company29%Severe injuryZeroNet emission intensity25 kg CO2/boeCarbon credits retired330,000 t CO2Annual average production48,600 boepd Total workforce(employees&contractors)442Capital e

16、xpenditure163 MUSDTotal revenues1,136 MUSDPayments to governments154 MUSDFree cash flow430 MUSDGreen powerpurchase agreement1st3IPC Sustainability Report 20222022 HighlightsAt IPC,we are passionate about working together to drive change from the inside and we are proud of the considerable contributi

17、ons we have made towards achieving our sustainability targets.We have been working to meet or exceed the goals we set last year,and are excited to showcase the significant progress and growth achieved across the company.Our ultimate aim is to responsibly deliver energy that meets societys needs whil

18、e minimizing environmental impact and supporting our stakeholders and communities.To ensure we stay on track and prioritize sustainability,IPC believes in fostering open dialogue with all of our stakeholders.From our staff and communities,to shareholders and government organizations,we actively seek

19、 feedback to help identify and prioritize our sustainability goals.Our list of material topics is based on a variety of factors,including consultations,surveys,feedback,and benchmark reports.We are committed to transparent reporting and continuously improving our sustainability practices.By staying

20、true to our values and engaging with our stakeholders,we are confident that we can achieve our sustainability targets and continue making a positive impact.For more information about IPCs approach to sustainability,please visit www.international- Six Sustainability PrioritiesWe act consistently and

21、transparently:in accordance with our corporate values,internal rules and the law.We build relationships based on mutual respect,earn trust and have a commitment to the highest standards of ethics.We put our people first and aim to attract and retain the best talent to drive our performance,providing

22、 equal opportunity and a rewarding working environment.Rewarding WorkplaceWe prioritize our workers and contractors health and safety,aiming for zero accidents.We are recognized for our processes and management systems aligned with international best practices.Health&SafetyWe are playing our part in

23、 addressing the climate change challenge and aim to reduce our emissions to generate more value in the long term.Climate ActionWe meet or exceed environmental standards.We have commitment to minimizing our impact to the environment and our aim is to restore or offset our impacts,implementing innovat

24、ive approaches.Environmental StewardshipWe care,respect and build trust with local stakeholders.Going beyond compliance,through active engagement,we aim to find synergies between local community needs and social impact investments,clearly defined in our investment strategy.Community EngagementOur Su

25、stainability Approach4IPC Sustainability Report 2022Key performance indicators(KPS)2022TrendTarget/goalAchieve 100%of employee sign-off of IPCs revised Code of Ethics and Business ConductBecome a“Respect in the Workplace”certified companyAt least 30%of women on our Board of Directorsto be attained w

26、ithin three yearsStrive towards a goal of zero harm to peopleContinuously reinforce our safety culture bysharing assets learnings,challenges,andbest practices towards a H&S cultureDevelop IPCs company-wide community impact(CI)strategyConduct human rights risks assessments acrossall of our operations

27、Committed to reduce scope 1 net emissionsintensity by 50%by 2025Continue alignment with TCFD recommendationson climate-related risks&opportunitiesStrive towards a goal of zero harm to land andwater resourcesFormal CI strategy developed andimplemented%of operations with human rightsrisk assessmentsSc

28、ope 1 GHG emissions(t CO2e)TCFD DisclosureTotal unplanned releases to sea or land(oil,water,and chemical spills)FavorableNeutralUnfavorable%of employee sign-offs“Respect in the workplace”certificationWomen in the Board of Directors(%)Total recordable incident rate#of HSE training hoursPillarEthics&I

29、ntegrityRewardingWorkplaceHealth&SafetyCommunityEngagementClimateActionEnvironmentalStewardship2022 Progress Against Targets98-100%90%17%5.26,529DevelopmentcompletedN/A25 kg CO2e/boeSecond TCFDdisclosure12022 Progress Against Targets5IPC Sustainability Report 2022Oil&gas exploration,drilling,develop

30、ment,production&sales of crude oil Storage,transportation&distributionRefining,retail&marketingof petroleum productsUpstreamOil&gas explorationand productionMidstreamTransportand storageDownstreamProduct preparationand usageIPCs Upstream OperationsWith assets in Canada,Malaysia,and France,we work to

31、wards unlocking the full resource potential through responsible operatorship and prudent investments.We also pursue growth through accretive asset acquisitions across the globe.Executing this strategy is designed to pave the way for IPC to realize ongoing success and be a leader in responsible,susta

32、inable,and profitable operations.We know that sustainability is crucial to achieving long-lasting success and enhancing our reputation and business performance.We continue to be committed to prioritizing sustainability About International Petroleum Corporationin all of our operations and decision-ma

33、king processes.By balancing environmental,social,and economic factors,IPC can create value for all stakeholders while minimizing our impact on the planet.IPC is incorporated in Canada and is a proud member of the Lundin Group of Companies.IPCs shares are listed on the Toronto Stock Exchange(TSX)and

34、the Nasdaq Stockholm under the symbol“IPCO.”IPC is an international upstream oil and gas exploration and production company with a diverse portfolio of assets located in Canada,Malaysia,and France.Our portfolio of high quality producing assets provides a robust platform to scale the business through

35、 organic investments as well as through mergers and acquisitions.6IPC Sustainability Report 2022Our Industrys Role in a Sustainable WorldOil and natural gas continue to be essential components of the global energy mix,contributing reliable and affordable energy to supply approximately 80%of the worl

36、ds energy needs.Although society is working to transition to more renewable energy sources,such as wind,hydro and solar,oil and gas remain vital to modern life not just as fuels.Petroleum based products are versatile,and their widespread use makes them integral to our daily lives.They are found in m

37、any everyday products,including plastics,clothing,and medical equipment,while also contributing to advancements in technology,medicine,agriculture and global connectivity and communication.Energy will continue to play a crucial role in advancing modern society,reducing poverty and driving economic g

38、rowth.Air transportOil and gasusageRoad transportSea transportChemicalsPharmaceuticalsRoadsImprovingstandards of lifeBuildingmaterialsOur Vision&ValuesAs an entrepreneurial,value-driven team bringing energy to the world in a sustainable way,we strive to embody our values of Excellence,Respect,and Re

39、silience in everything we do.Electronics:Oil-derived plastics and other petrochemical products are essential components in electronic devices,including smartphones,computers,and televisions.Medical Supplies:Petrochemicals play a critical role in the manufacturing of medical devices and pharmaceutica

40、ls,including hospital equipment,IV bags,artificial limbs,dentures,hearing aids,and heart valves.Textiles:Petrochemical-based fibers like acrylic,rayon,polyester,and nylon are widely used in clothing,shoes and other textiles due to their lightweight,durable,and water-resistant properties.Health&Beaut

41、y Products:Many personal care items,such as perfume,cosmetics,hair dye,lotion,toothpaste,soap,and eyeglasses,rely on petrochemicals for their production.7IPC Sustainability Report 2022USACANADAHudsonBayAlbertaEdmontonCalgarySaskatchewanBlackrodCanadaFRANCEParis Basin licensesAquitaine Basin licenses

42、FranceOnion LakeSuffieldFergusonMalaysiaBertamProductionFPSO FacilityDevelopmentExplorationNon-operatedGasLight OilHeavy OilIPC is a dynamic and internationally focused upstream oil and gas company with diversified,stable,and low-risk operations in exploration,production,and development assets locat

43、ed in Canada,Malaysia,and France.Our Operations8IPC Sustainability Report 2022ParisFRANCEParis Basin licensesAquitaine Basin licensesFranceNatunaSeaMALAYSIAINDONESIAKualaLumpurSingaporeMalaysiaBertamProductionFPSO FacilityDevelopmentExplorationNon-operatedGasLight OilHeavy Oil9IPC Sustainability Rep

44、ort 2022As demonstrated,in regions where we have operations and therefore a more significant impact,we report on environmental topics.To calculate greenhouse gas(GHG)emissions,we use an operational control basis,which excludes assets not operated by IPC(noting that non-operated assets account for le

45、ss than 1%of IPCs total production).Our health and safety metrics include employees and contractors.IPC believes in taking a comprehensive approach to our reporting practices which enables us to ensure we accurately represent the Companys performance and impacts on both the environment and our stake

46、holders.Our reporting standards are continuously reviewed and enhanced to ensure they are up to date and aligned with our values and commitments to sustainability.FrameworksThe purpose of this Sustainability Report is to showcase our dedication to sustainability for our stakeholders,including employ

47、ees,investors,regulators,and the communities where we live and work.This report also outlines and provides information regarding IPCs relevant environmental,social,and governance(ESG)topics,priorities and achievements,and provides disclosures relevant to our material topics,which have been identifie

48、d through a materiality assessment that was most recently updated in early 2023.We have elected to align our reporting with globally recognized frameworks including the Global Reporting Initiative(GRI),the Task Force on Climate-related Financial Disclosures(TCFD),and the International Petroleum Indu

49、stry Environmental Conservation Association(IPIECA),all of which represent the primary guides in the development of this report.In 2022,IPC participated for the first time in the Corporate Sustainability Assessment by S&P Global,intending to evaluate its performance against the industry annually and

50、 identify gaps in strategy and reporting.Since IPC remains dedicated to keeping abreast of the latest updates and changes across frameworks,our reporting now aligns with the updated Global Reporting Initiative(GRI)Universal Standards 2021 and the GRI 11:Oil and Gas Sector 2021 standards.Our alignmen

51、t with the GRI sector standard ensures that our ESG data is consistent and comparable with that of our industry peers for the impacts that are most relevant to our sector.Previously,we reported in accordance with the GRI Core option.Scope of this ReportOur performance is reported and measured on a g

52、ross(100%)operated basis for all material topics and metrics.We maintain operational offices in the countries where our assets are located,which includes Canada,France,and Malaysia and we have corporate employees within our office in Switzerland.Below are IPCs reporting boundaries:EnvironmentSocialG

53、overnanceThis is IPCs fourth Sustainability Report and we are proud of the significant progress we have made towards improving performance and disclosure on our ESG goals and strategy.About Our Reporting10IPC Sustainability Report 2022Report QualityThe collection and analysis of corporate informatio

54、n presented in this Sustainability Report has been overseen by IPCs Sustainability,Operations,and Investor Relations teams.The report has been approved by the the Companys Executive Committee and Board of Directors.In order to ensure the report accurately reflects our practices and performance,a tho

55、rough content gathering and approval process was followed.At IPC,we place a high level of importance on collecting accurate and verifiable data in a consistent and rigorous manner to support our corporate disclosure practices.All dollar amounts are expressed in U.S.currency unless otherwise indicate

56、d.References to“we”,“our”,“us”,“the Company”and“IPC”mean International Petroleum Corp.,and its subsidiaries.Unless otherwise noted:(i)all information in this report is presented as at,and for the year ended,December 31,2022,and(ii)the data and analysis relates to IPC and not its partners,suppliers o

57、r customers.Materiality AssessmentTo ensure that our strategy and reporting are reflective of emerging industry trends and issues,we updated our materiality assessment in early 2023,after the previous assessment that was undertaken in 2021.This year,we surveyed senior leadership and the Sustainabili

58、ty Working Group,who represent a significant proportion of key decision-makers across the Company.To analyze the perspective of external stakeholders,we used a data-driven platform that captures a significant proportion of the most relevant stakeholders for the industry.In addition,this assessment w

59、as aligned with the companys risk management process.Our new materiality assessment is primarily aligned with the Sustainability Strategy we developed in 2021,with a particular focus on areas such as energy management.In addition,we have identified water,biodiversity,and community relations as high-

60、priority issues for external stakeholders.With a keen focus on prioritizing what matters most,this report will explore the material topics across the six sustainability priorities we maintained through our 2021 and 2023 assessments.These include Ethics&Integrity,Rewarding Workplace,Health&Safety,Com

61、munity Engagement,Climate Action,and Environmental Stewardship,each of which is discussed in greater detail in the pages that follow.MaterialityMateriality in sustainability reporting is determined by the potential of a particular topicto affect,positively or negatively,a companys performance and ex

62、ternal opinion.Material TopicsTo act responsibly,we need to manage the issues that are most material to our businessand our stakeholders.We report on the eight topics classified as“high”in our materiality matrix,as well as those deemed of“medium”significance.The inclusion of stakeholder opinion ande

63、volving societal expectation is important to us as we aim to stay relevant in our current andfuture disclosures.MIDQUARTILEGovernance structure&mechanismsWorforce&organizationalchange managementPhysical&sociopolitical risksManagement oflocal impactsBusiness modelresilienceTransparencyResponsible sup

64、plychain&procurementCompetitivebehaviorLaborpracticesMaterials useEmployee diversity&inclusionIndigenouspopulationsLandmanagementEthical corporatebehaviorWaste&hazardousmaterials managementHumanrightsPublic healthrisksBiodiversityWaterEnergymanagementEmployee health&safetyCommunityrelationsPollution

65、Climate change risks&managementTOPQUARTILEMateriality MatrixLowHighImportance to stakeholdersHighSignificance of impacts on or from IPC11IPC Sustainability Report 2022The Board of DirectorsThe Board at IPC plays a critical role in governing the Company and making strategic decisions.With the primary

66、 responsibility of setting the overall direction and goals of the organization,the Board oversees executive management and ensures compliance with legal and ethical standards.Its guidance extends to matters of financial performance,risk management,and succession planning,fostering a strong relations

67、hip between shareholders and executive management to maximize long-term value.The Board has established various committees to address specific areas of focus,enhancing the effectiveness and efficiency of its work.These committees,comprising a subset of Board members,provide focused attention to key

68、areas and make informed recommendations for decision-making.The Boards Nominating and Corporate Governance Committee is responsible for conducting annual assessments of the Boards effectiveness and coordinating ongoing Board education initiatives and for making recommendations on the election or re-

69、election of Board nominees.Corporate GovernanceIPC is committed to robust corporate governance,and our Board of Directors(Board)plays a crucial role in setting the tone and standards for our organization.The Boards objectives include preserving and enhancing long-term shareholder value and ensuring

70、IPC meets its obligations on an ongoing basis and operates in a reliable,safe,and sustainable manner.Our robust governance structure and standards are established by the Board and its committees,in conjunction with our executive management team,and are guided by a set of procedural rules adopted by

71、the Board.The Company prioritizes fostering an ethical culture through sound corporate governance practices.Our Code of Ethics and Business Conduct serves as the foundation of our corporate values and outlines the basic rules,standards,and behaviors that all IPC employees,contractors,and members of

72、our Board must adhere to.The Code addresses a wide range of ethical decision-making topics,including conflicts of interest,harassment,bribery and corruption,insider trading,competition and accounting,and business controls.In 2022,we issued a revised Code that integrates our Vision and Values and rep

73、ublished internal communication channels to enable employees to voice concerns.Individuals inside and outside the organization can also raise concerns confidentially through IPCs Whistleblower hotline,which is available 24/7 and independently managed.All whistleblower reports are taken seriously and

74、 investigated by our Internal Audit department,the Audit Committee and the Board.IPC places a strong emphasis on upholding our ethics and integrity to the highest level.We consistently and transparently conduct our operations in accordance with our established values,corporate policies,and legal req

75、uirements.In order to embody our core values of Excellence,Respect,and Resilience,we prioritize sound governance and committed leadership.At IPC,we prioritize building relationships based on mutual respect,strivingto earn trust and maintain the highest standards of ethics.12IPC Sustainability Report

76、 2022The selection of Board members at IPC involves a thorough evaluation process that seeks individuals with relevant expertise and a commitment to the Companys strategic goals.We prioritize diversity,independence,and effective oversight,and have implemented a Board of Directors diversity policy ai

77、ming to achieve a minimum representation of 30%women by the annual general meeting in 2024.The Committee will also consider non-gender based diversity factors.IPCs Board regularly reviews policies,ensuring alignment with regulatory guidelines set by authorities like the TSX and the Nasdaq Stockholm.

78、Since the Annual General Meeting(AGM)in 2022,our Board consists of six members,of whom five are non-executive directors,with four deemed independent.This composition brings together diverse expertise and perspectives from backgrounds in finance,engineering,law,and economics.The Board receives regula

79、r ESG training,including a climate risk session in 2022.The independent status of the directors ensures objective decision-making and provides a system of accountability.At IPC,we are dedicated to maintaining a highly skilled and diverse Board that can provide the necessary guidance and oversight to

80、 achieve our strategic objectives and deliver sustainable value to our stakeholders.Sustained Economic Growth Effective capital allocation is a cornerstone of strong corporate governance and financial management.At IPC,we prioritize sustained economic growth by generating long-term,sustainable retur

81、ns and creating value for our shareholders.For the period from December 2021 to December 2022,9.5 million common shares were purchased and cancelled under IPCs normal course issuer bid(NCIB)with a further 7.0 million common shares purchased and cancelled from December 2022 to June 2023 under a renew

82、ed NCIB.As we strive for growth,we also maintain a vigilant approach to risk management,carefully assessing the level and nature of risks we undertake to ensure our resilience in the face of challenges.By striking this balance between growth and risk management,we foster a foundation for enduring su

83、ccess.ESG Governance The Board maintains robust governance mechanisms to oversee IPCs operations,finances,ESG,and climate change matters.We prioritize transparency by providing comprehensive information and reports on our performance,including any progress we have achieved and updates on our continu

84、ous improvement efforts.In line with our steadfast commitment to meeting our sustainability goals,executive remuneration is tied to ESG and climate performance,including target achievements.The Board diligently monitors and oversees these metrics,which make up 15%of the corporate targets determining

85、 variable executive remuneration.These targets encompass climate,environmental,and safety objectives.Climate GovernanceClimate-related issues are integrated into IPCs organizational structure,from Board oversight to local ESG task forces.The CEO and executive committee,along with General Managers,ar

86、e responsible for managing day-to-day climate-related issues.IPCs Executive Committee reviews and manages all climate-related risks and opportunities and reports regularly to the Reserves and Sustainability Committee and to the Board with input from the Sustainability Manager.The Sustainability Mana

87、ger provides ongoing updates to management and ensures that all climate-related issues are monitored effectively.Senior managements remuneration is linked to the companys performance on ESG initiatives,including carbon intensity reduction.IPC included TCFD aligned disclosures in its Sustainability R

88、eport for the first time in 2022,and published a first standalone TCFD report in 2023,which details the Companys approach to managing climate-related risks and opportunities.More information on IPCs climate governance can be found in the report.Supply Chain&PartnersIPC recognizes that our responsibi

89、lity for sustainability extends beyond our own actions and encompasses those of our partners.To this end,we integrate sustainability considerations into our contractor and procurement management processes,promoting mutual efficiencies with suppliers that account for the environmental and social impa

90、cts of our procurement decisions.We actively seek to partner with suppliers who share our values and align with our strategic objectives,supporting our efforts to reduce our environmental footprint,contribute to economic sustainability,and support the communities where we operate.We engage with our

91、suppliers on their sustainability performance by requiring them to acknowledge and adhere to our corporate policies and standards.Tax TransparencyIPC is committed to upholding ethical and responsible business practices,including tax transparency.We firmly commit not to transfer value created to low-

92、tax jurisdictions where there is no other commercial reason.It is important to note that we have valid corporate reasons for all the jurisdictions in which we have subsidiaries or through which we flow funds from operations.We also commit not to create or use corporate or funding structures solely f

93、or tax purposes without commercial substance.All our corporate and funding structures have valid commercial substance and have been in place for many years.Furthermore,we are not using secrecy jurisdictions or so-called“tax havens”and we do not engage in tax avoidance schemes.In line with our establ

94、ished governance principles,the Board is fully aware of all policies,including the corporate tax policy,and conducts an annual regular review of IPCs policies and mandates.As part of our commitment to transparency,we foster a culture of openness and adhere to all tax regulations.We regularly consult

95、 with advisors to stay current with changes in tax law and effectively manage associated risks.We report payments to governments,including taxes,in accordance with the requirements stipulated by the Government of Canada under the Extractive Sector Transparency Measures Act(ESTMA).In 2022,IPC paid a

96、total of MUSD 154.5 in taxes,royalties,fees,and production entitlements to governments,compared to MUSD 76 in 2021,demonstrating our ongoing dedication to responsible tax practices and revenue reporting.Ethics&Integrity13IPC Sustainability Report 2022Fostering Sustainable Governance Through ongoing

97、commitment and proactive governance,we strive to foster sustainable practices that contribute to a more resilient and responsible future.Listening to our inside voicesIn January 2023,IPC conducted an ESG survey among company employees,including members of the Companys Executive Committee,country lea

98、dership teams,and sustainability working groups.The survey aimed to assess the companys sustainability practices and gather valuable insights about challenges and opportunities,and contributed to updating our materiality assessment.Additionally,80%expressed confidence in their ability to exercise th

99、e Companys commitment to sustainability in the deployment of their professional responsibilities,indicating a strong alignment with our sustainability strategy.The IPC team acknowledges the risks posed by climate change and understands the vital link between the global energy transition,talent reten

100、tion and increased regulatory constraints.With volatile oil and gas prices identified as a principal business risk,we recognize the importance of addressing climate change and embracing effective ESG strategies as part of our efforts to attract and retain top talent.We recognize the benefits of inte

101、grating sustainability into IPCs broader strategy.The Company has demonstrated notable achievements in recent years,including the involvement of cross-functional teams in the Sustainability Working Groups,and the integration of ESG responsibilities at various levels and functions.The ESGs survey als

102、o highlighted areas of opportunity for further progress.Participants expressed the need for concrete actions,clear communication of accomplishments,and comprehensive training on sustainability and climate challenges in the context of our industry for everyone in the Company.By engaging with our stak

103、eholders,identifying areas for improvement andbuilding on achievements,IPC is well-positioned to navigate the challengesand opportunities presented by emerging ESG risks in the oil and gas industry.Ethics&IntegrityThe survey revealed an impressive 78%of participants strongly agreed thatsustainabilit

104、y goes beyond compliance and is the right thing to do.14IPC Sustainability Report 2022Employee Well-Being&RetentionAs an operator in multiple jurisdictions,IPC prioritizes hiring locally which generates economic benefits for surrounding communities.We offer competitive compensation with comprehensiv

105、e benefits,flexible working hours,part-time options,and remote work arrangements when appropriate.Annual reviews of our compensation practices help us ensure we can attract and retain top talent and we facilitate professional growth through goal setting and ongoing performance evaluations.Gender Div

106、ersityMen71%Women29%Women4%Men55%Women45%Men77%Women23%ContractorsManagementInternsTotalworkforceMen96%Creating a workplace that values and rewards our employees for their contributions is a priority for IPC,and we strive to attract and retain talented individuals who share our dedication to creatin

107、g a high-performance environment of respect,diversity,and inclusion.Building on our values of trust,integrity,transparency,and accountability,we invest in our workforce by providing in-house and external training across important disciplines that include health and safety,technical expertise and pro

108、fessional development.Field55%Office45%Malaysia34%Canada50%Switzerland5%France11%WorkforceWorkforcelocationWorkforceper country15IPC Sustainability Report 2022Engaging our Workforce In 2021,IPC sought views and contributions from several employee groups to establish a clear understanding of our iden

109、tity,direction,and guiding principles,which resulted in the Companys renewed corporate Vision and Values.To ensure these concepts were fully integrated into IPCs culture,we conducted an employee engagement survey in December 2022 to understand the level of employee engagement and take action to impr

110、ove our culture by ensuring our Vision is fully understood and integrated into our operations.We measured six key dimensions of employee engagement:Engagement,Alignment&Enablement,Culture&Recognition,Leadership,Development and Wellbeing.The survey received an excellent response rate of 86%among all

111、staff,with results indicating that our strengths lie in performance,culture,and management,and areas of continuous focus include leadership,recognition,and communication.While IPC has already started implementing efforts to improve communication,there is still work to be done and we are embracing th

112、e opportunity to enhance further.The results from all countries exceeded our 75%overall score target,indicating that IPCs teams are highly engaged and committed to the Companys Vision and Values.Rewarding WorkplaceCulture,Diversity&Sustainable ManagementWe believe that workplace culture is critical

113、to our success and we recognize the value of each individuals unique perspectives.Our Diversity Policy provides a framework and formalizes our commitment to creating an inclusive environment free from discrimination or harassment.IPC actively promotes equal opportunities for all employees to contrib

114、ute to our companys success,and encourages transparent communication and trust between employees and management.Our regular global and local townhall meetings help to ensure our entire team feels engaged and informed about our progress.During these gatherings,team members have the opportunity to ask

115、 questions,provide feedback to management,and engage in direct dialogue with leaders across the organization.We believe that promoting a diverse and inclusive workplace leads to sustainable management practices and positive business outcomes.Living Up to Our ValuesWith employees and operations spann

116、ing diverse geographies,we purposely take steps to ensure IPCs team members are aware of,and aligned with,the Companys strategy.We promote engagement initiatives at all levels,as well as feedback mechanisms to ensure that we continue to foster a positive and rewarding workplace environment that alig

117、ns with our Vision and Values.In 2022,we circulated a revised Code of Business Ethics and Conduct,which was updated to better represent our renewed Vision and Values and was signed off by 99%of IPC employees and contractors.We are also very proud to report that by end of 2022,90%of all IPC employees

118、 and contractors received the Respect in the Workplace Certification,which empowers people to recognize and prevent bullying,abuse,harassment,and discrimination(BAHD),further promoting respect,diversity,and inclusion in our workplace.IPC strives for conducive employee engagement,driving a positive a

119、ndrewarding workplace for all.16IPC Sustainability Report 2022Leading by Example Leadership plays a critical role in establishing a culture of mutual respect and open communication.As such,IPC implemented leadership training programs across our offices in Canada,France,Malaysia,and Switzerland tailo

120、red to the specific needs of each region,while empowering management to lead by example and further embedding our core values of respect,excellence and resilience.In Canada,a Management Essentials course was organized in March 2022 for first-line supervisors and senior management which emphasized th

121、e importance of setting expectations,providing feedback,and engaging in career performance discussions.This course facilitated internal networking and created opportunities for individuals to form or strengthen relationships with colleagues from other areas of the Company.It also marked a significan

122、t milestone as IPC transitioned back to the workplace and resumed travel after the Covid-19 pandemic.In France,workshop-based training was undertaken to improve communication through practical exercises conducted in groups,during which employees had the opportunity to learn more about each others sk

123、illsets and communication styles.This innovative approach not only promoted individual growth but also strengthened the teams ability to work together.The impact of the leadership training was significant,leading to improved internal networking,enhanced communication,and greater alignment with IPCs

124、shared goals which helps foster a culture where leaders at all levels actively contribute to creating a positive and rewarding work environment.Rewarding WorkplaceAcross all locations,IPCs leadership training initiatives underscored theCompanys commitment to bringing our vision to life and living ou

125、r values.17IPC Sustainability Report 2022Our Safety CultureAs a top priority at IPC,safety is embedded in our company culture.Our leadership team actively fosters a culture of safety through regular participation in safety meetings with field staff,promoting knowledge sharing and continuous improvem

126、ent.We integrate safety into our daily operations through various channels such as reports,toolbox talks,site-level meetings,and management discussions.By analyzing our safety performance and setting targets,we continuously enhance our safety practices.Safety is a key component of our management eva

127、luation,underpinning our commitment to the well-being of our employees and communities.To learn more about our safety culture or for further information on IPCs HSE practices,we invite you to visit our website.Occupational Health&SafetyAt IPC,we prioritize occupational health and safety as an essent

128、ial part of our Management System.We maintain strict protocols for Personal Protective Equipment(PPE)use,selection and storage,closely monitor and control exposure to various risks,and conduct regular health assessments and fitness-for-work examinations.Of particular note in 2022,IPC made a concerte

129、d effort to share learnings,challenges,and best practices between our Canadian,French and Malaysian health and safety teams.Going beyond the physical implications associated with workplace health and safety culture,we emphasize mental health awareness through engaging campaigns and information sessi

130、ons,offering support systems through our comprehensive health benefits and insurance plans.Emergency PreparednessIPC works diligently to ensure the prevention and management of spills and releases across our operations through careful design and operation of our facilities.As a member of the Oil Spi

131、ll Response Limited(OSRL),we have access to industry-leading emergency response capabilities.Our proactive approach includes:By combining these elements with comprehensive planning and risk assessment,we significantly reduce the likelihood of spills and releases.However,in the event of an incident,w

132、e swiftly implement mitigating and remedial actions to minimize environmental and human risks while preventing future occurrences.We record and investigate every incident to identify the root cause,share best practices,and report on our learnings to enhance awareness and further mitigate the risk of

133、 future incidents.Implementing controlledspill prevention processesand proceduresEnforcing asset reliabilityand integrity monitoringprogramsConducting regulartraining and simulatedemergency exercisesFollowing robust equipmentinspection proceduresThoroughly vettingcontractorsThe health and safety of

134、IPCs employees and contractors is paramount to our continued success.We hold a firm commitment to achieving our goal of zero accidents and we are constantly working to ensure a secure,healthy,and productive work environment across all our operations.Our dedication to the well-being of our workforce

135、underpins our core values and drives our relentless pursuit of excellence in health and safety management.18IPC Sustainability Report 2022HSE Performance OverviewThroughout 2022,IPCs HSE performance showed variations.The year started positively with no incidents reported in the first half.However,th

136、ere was a negative trend in the second half,particularly with contractors in Canada,leading to incident frequency rates higher than what we deem acceptable.Our first steps were to take prompt remedial actions,and thoroughly investigated all incidents,identifying root causes to drive improvement.To r

137、everse recent incident trends,IPC rolled out comprehensive safety campaigns across our operations and established a proactive safety plan for 2023.Looking ahead,IPC has mandated a company-wide health and safety audit for 2023,demonstrating our commitment to maintaining high HSE standards across our

138、operations and ensuring that we make every effort to improve upon our HSE performance.While IPC remains committed to continuous improvement,we also recognize the importance of celebrating our successes.IPC achieved strong HSE performance in Malaysia with six consecutive years,representing 4.5 millio

139、n hours worked,of being LTI free and received the Malaysian Oil&Gas Industrys excellence award for HSSE in 2022.Third party orientationscompleted8,363Training hours for employeesand contractors6,529Planning sessions447Safety meeting195IPC Impact Gloves Prioritizing safety necessitates diligent analy

140、sis of accidents to prevent their recurrence.We have therefore initiated a safety campaign in 2022 promoting the importance of using impact gloves as a preventive measure following several hand and digit injuries in Canada.This campaign was focused on emphasizing the effectiveness of proper hand pro

141、tection and raising awareness among employees and contractors through comprehensive training,communication sessions,and formal hazard assessments,with a strong commitment to workplace health and safety.Recognizing that hand injuries account for nearly half of recordable incidents in the industry,IPC

142、 prioritized hand protection by mandating the use of impact protective gloves.This decision was reinforced by a specific incident in 2022,where a rig workers hand was pinched while operating equipment.Fortunately,due to the use of impact gloves,the severity of the injury was minimized,highlighting t

143、he importance of proper hand protection.In 2022,49 emergency response and crisis management trainings wereconducted across all countriesHealth&Safety19IPC Sustainability Report 2022Prioritizing Mental Health Acknowledging the inseparable link between mental and physical health,IPC advocates for a ho

144、listic approach to wellbeing and recognises that both work and personal lives impact our mental health.By fostering an environment of understanding and support,we aim to provide the necessary assistance and services tailored to individual needs.In May 2022,IPC launched a mental health awareness camp

145、aign in Canada,aimed at equipping our staff with valuable tools and resources to safeguard their mental wellbeing.Sessions held in Calgary and field offices facilitated discussions on mental health and shared valuable resources to further support employees.The campaigns focus on staying connected,bu

146、ilding routines,practicing mindfulness,and adopting healthy lifestyle habits showcases our dedication to creating a supportive and resilient workforce.Resources and techniques to support a healthy immune system,boost wellbeing,and reduce stress include:IPCs mental health awareness campaign emphasize

147、s the significance of maintaining focus and prioritizing mental health,alongside physical wellbeing.IPC encourages staff to stay connected with friends,family,and coworkers,fostering a sense of community and support.Health&SafetyAt IPC,we emphasize the importance of creating a safe space forcommunic

148、ation and encourage employees to share challenges orsituations that might impact their work focus.HealthynutritionRegularexerciseQualitysleepMindfulnessmeditation20IPC Sustainability Report 2022Committing to Sustainable DevelopmentIPC understands that establishing and nurturing strong relationships

149、with the communities surrounding our operations is essential for long-term success.We acknowledge that each country in which we operate possesses its own unique culture,language,landscape,and level of economic development.That is why we adopt a tailored approach,ensuring that we respect and consider

150、 the rights,concerns,and traditional land uses of the local communities.Through inclusive dialogue and open communication,we strive to develop lasting relationships built on trust and mutual understanding and believe that by identifying operational synergies,we can make strategic social impact inves

151、tments that promote sustainable development and enhance the overall quality of life.IPC actively encourages our employees to engage in community initiatives and seek to listen,understand,and support what matters to our team members.By promoting and facilitating their involvement,we aim to create a w

152、orkplace where everyone feels valued and empowered to make a positive impact to society.Through 2022,we made meaningful contributions to a range of community focused and charitable organizations.These partnerships allowed us to address critical social and environmental challenges,support education a

153、nd healthcare initiatives,promote environmental conservation,and empower local businesses and entrepreneurs.HALO Air Ambulance Ensuring the safety of our field staff and public by supporting vital emergency medevacservicesWandering River Emergency Services Ensuring the safety of our field staff and

154、public by supporting the volunteer fire department thatcovers Wandering River,Breynat and surrounding areas in northern AlbertaUnited Way(of Southern Alberta and Lloydminster)Supporting mental health programs which service the southeastern Alberta community,as wellas the Lloydminster and surrounding

155、 communities In 2022,IPCs funding contributed to 100 hours of specialized counselling for children goingthrough divorce,12 months of grief groups,and 11 children helped deal with or flee domesticviolence Together,3,250 individual mental health interventions and 1,275 families were helped by IPCCanad

156、as partnership with United WayGordie Howe CARES Foundation IPC staff members helped raise funds for Alzheimers and Dementia Care at the Gordie HoweCARES Foundation charity hockey tournament Supporting Alzheimers and Dementia research,educational support for caregivers,andcommunity/family support for

157、 those affected by this disease in southern AlbertaThe PREP Program Supporting educational,consulting and assistance programs for families who have a child withDown syndromeSwiss Touch Supporting the Touch Rugby Switzerlands National Women 27s Team for the 2022 EuropeanChampionshipsRoot Cellar Food&

158、Wellness Hub(Medicine Hat Food Bank)Supporting individuals and families in our community that are struggling with inflation and risingfood costsWe recognize the vital role that neighbouring communities play in our sustainable development efforts.With our community engagement strategy,we aim to culti

159、vate strong relationships built on trust and mutual benefit.By actively engaging with stakeholders,we seek to contribute to the social and economic sustainability of each community.Building from our strong financial foundation,IPC remains dedicated to making a positive and lasting impact on the well

160、-being and prosperity of the communities where we operate,both locally and globally.21IPC Sustainability Report 2022Empowering Champions IPCs sponsorship of the Touch Switzerlands National Women 27s Team in the 2022 European Championships extended far beyond a financial contribution and embraced a d

161、eeper purpose.The sport of touch rugby stands as a beacon of diversity,equity,and inclusivity,allowing both women and men to play together and facilitating intergenerational participation.IPCs support for the team aimed to make touch rugby accessible to women by providing assistance for the associat

162、ed costs while also raising the sports profile.The teams historic bronze medal victory showcased their unity and commitment,setting a new benchmark in the fiercely competitive European Touch Championships.IPCs support enabled the Swiss Womens 27s Team,the“Red Rockets,”to challenge more experienced a

163、dversaries and earn well-deserved recognition throughout the tournament.Our sponsorship not only provided crucial funding for their participation but also facilitated essential resources such as equipment,nutritional guidance,training facilities,and financial assistance for the players.The team whol

164、eheartedly expressed their gratitude to IPC for championing womens sports and for contributing to their ground-breaking accomplishment.Through their exceptional performance,the Red Rockets became a source of inspiration for players from diverse backgrounds and skill levels,spreading a positive messa

165、ge across the sport.Community EngagementCommunity Investment FrameworkIn 2022,IPC began the development of our new Community Investment Framework,a strategic initiative aimed at maximizing our social impact and creating positive change in the communities where we operate.Developed in collaboration w

166、ith the Lundin Foundation,this framework provides a formal,simple,and structured process for allocating resources towards community investments.Starting in Q1 2023,we have begun implementing this framework,marking a significant milestone in our commitment to community engagement.Leveraging the exper

167、tise of the Lundin Foundation,renowned for their community strategy development,we are confident in our ability to create lasting positive impact.To learn more about the structure of our new Community Investment Framework,please visit our website.Indigenous Community PartnersIPC values and respects

168、indigenous rights as per the United Nations Declaration on the Rights of Indigenous Peoples,including free,prior,and informed consent(FPIC)in compliance with applicable legislation.Going beyond compliance,the team at IPC strives to invest in initiatives that promote economic growth,education,healthc

169、are,and cultural preservation.Such projects are designed to support the development,preservation,and cultural heritage of indigenous communities near our operations.Through meaningful dialogue and collaboration,we believe in building sustainable partnerships based on mutual respect and understanding

170、.22IPC Sustainability Report 2022Supporting the Next Generation Located within Canadas Treaty Six Territory,IPCs thermal oil project operates on Onion Lake Cree Nation(OLCN)owned lands.Recognizing the mutual benefits of collaboration,IPC and OLCN have long since embarked on a partnership to optimize

171、 the responsible use of local lands,create synergies,and generate employment opportunities.Within this partnership,IPC is committed to supporting programs that benefit the Onion Lake Cree Nation in the long term.One such program is the Onion Lake Education Trust Fund(OLETF),which plays a vital role

172、in assisting and encouraging students to pursue their educational aspirations.IPC Canada awarded scholarships to 11 deserving students within the Onion Lake community this year.One of the recipients,Bryanna Carter,shared her inspiring journey and ambitions in pursuing a joint major in Business Admin

173、istration and Forensic Science at Trent University.Her passion for forensics and administrative law showcases the transformative impact of educational opportunities supported by OLETF.IPCs commitment to supporting education extends to professional development as well.Kaleb Tyler,another beneficiary

174、of IPCs Post-Secondary Scholarship,expressed his gratitude for the support received during his pursuit of a Doctor of Dental Medicine(D.M.D)degree at the University of Saskatchewans College of Dentistry.Having graduated with distinction in Physiology and Pharmacology,Kaleb is on track to complete hi

175、s dental degree in 2023.His dedication to giving back to his community reflects the profound impact that educational support can have on individual lives and the future of Indigenous communities.IPCs partnership with the Onion Lake Cree Nation goes beyond business operations.By contributing to the O

176、nion Lake Education Trust Fund and awarding scholarships,IPC actively supports the educational endeavors of Indigenous students,the next generation to carry on the proud heritage and responsible stewardship of their native lands.IPC remains committed to fostering educational opportunities and drivin

177、g positive social impact,ensuring a brighter future for Indigenous students and the Onion Lake Cree Nation as a whole.Community Engagement“Moving to a new province and a city on my own offers challenges,andIm grateful for the support I receive while completing my degree.I am stilltrying to find my p

178、lace in society,but having the ability to mold my life isexciting as having the creative freedom to determine my future.I am very grateful for your support in my educational pursuit and professionaldevelopment.I am looking forward to giving back to my community.23IPC Sustainability Report 2022Playin

179、g for the Future IPC staff members continued to demonstrate their commitment to making a difference by participating in the Gordie Howe CARES Foundation charity hockey tournament this year.The event aimed to raise funds for Alzheimers and Dementia Care,supporting the vital work of the Gordie Howe Ce

180、nter for Alzheimers Research and Education Society.The IPC team rallied together to raise an outstanding CAD 43,000 at the tournament,including a corporate donation from IPC.This contribution helps caregivers receive the support they need and individuals living with Alzheimers and related dementias

181、are provided with better care and understanding.IPCs contribution also added to the tournaments cumulative achievement of raising over CAD 2 million over the past nine years.Truth and Reconciliation To recognize and honor the National Day for Truth and Reconciliation,IPC Canada provided a platform f

182、or listening and learning about the profound impacts of the residential school system.On September 28,2022,we invited all IPC Canada staff to join us virtually for“Truth Telling-A first step toward Reconciliation”.This enlightening session offered valuable insights into the historical and present co

183、ntext of the National Day for Truth and Reconciliation,with personal accounts shared by individuals deeply affected by the residential school system.This notable engagement underscores the significance of this commemorative day for our team as together,we strive towards fostering understanding,recon

184、ciliation,and healing on our collective journey towards a more inclusive and just society.Community Engagement24IPC Sustainability Report 2022IPC believes that as a conscientious energy producer,sustained shareholder value flourishes as a result of our commitment to economic,environmental,and social

185、 sustainability.Our Commitment At IPC,we recognize our role as a responsible producer of oil and natural gas is vital for meeting the worlds growing demand for accessible and affordable energy.We share global concerns about climate change,understanding its intricate challenges and growing significan

186、ce to our stakeholders.Consequently,we remain committed to actively mitigating the environmental impact of hydrocarbon extraction,with a particular focus on reducing our greenhouse gas(GHG)emissions intensity.In 2020,we made a commitment to reducing our Scope 1 net emissions intensity by 50%within t

187、he next five years,and have committed in early 2023 to extend our target of 20 kg CO2/boe through 2027.To achieve this,we have implemented operational emissions reduction initiatives and invested in carbon offsetting projects.While we actively pursue activities that minimize,lower,or offset emission

188、s,we maintain a careful balance that ensures the economic viability of our development activities remains intact.IPC remains resolute in our commitment to sustainable practices and will continue to adapt and evolve to meet the challenges posed by climate change.We demonstrate our commitment to trans

189、parency and sustainability by fully disclosing all key elements of the Task Force on Climate-related Financial Disclosures(TCFD)in our TCFD report.This includes governance,strategy,risk management,and metrics&targets.Our report provides comprehensive information on how we manage climate-related risk

190、s and seize opportunities,ensuring stakeholders have the necessary insights to make informed decisions.Scope 1,2&3 GHG Emissions To effectively execute a comprehensive climate strategy that assesses costs,risks,and opportunities,IPC recognizes the importance of gaining a clear understanding of its c

191、arbon footprint.Thus,we have devised a reporting approach that encompasses both mandatory and voluntary requirements to accurately monitor our GHG emissions and evaluate performance on an annual basis.Our emissions inventory is diligently maintained,identifying emission sources for each operated ass

192、et in accordance with the GHG Protocol.The reporting boundaries we employ align with operational control,ensuring that our emissions from our operated assets are all accounted for.We strive to reduce GHG emissions and optimize the utilization of natural resources wherever operationally feasible.IPC

193、remains committed in applying the Best Available Technique(BAT)principle and maximizing the efficiency of our facilities.In 2022,we took proactive measures to ensure the accuracy and reliability of our GHG emissions accounting and reporting across our operational regions.To guarantee quality assuran

194、ce,we underwent a comprehensive third-party audit that encompassed 90%of our emissions,specifically focusing on our Canadian operations.It is worth noting that audits had already been conducted in France and Malaysia the previous year,affirming full compliance in our emissions accounting and reporti

195、ng.The findings from these audits were successfully integrated,and our reporting demonstrated no significant gaps or non-conformance issues.For the year 2022,IPC recorded scope 1,scope 2,and scope 3 emissions of 796,081,119,343 and 28,192 tonnes CO2e,respectively.Our commitment to progress continues

196、 as we work towards our emissions reductions target of reducing scope 1 net emissions intensity by 50%from a 2019 baseline,to be achieved by 2025.IPC is on track to meet this target through a combination of efforts to reduce operational emissions and engagement in carbon offsetting.We integrate clim

197、ate risk considerations into our strategic planning process,safeguarding IPCs business against the backdrop of an evolving industryand society.Scope 3 emissions28,192Scope 1 emissions796,081Scope 2 emissions119,343Drillingactivities17,597Trucks5,853Offshore travel&logistics4,679Businesstravel by air

198、642022Emissionsby Scope(tonnes CO2)Scope 3GHG Emissionsby Type(tonnes CO2e)25IPC Sustainability Report 2022In 2019,our baseline scope 1 emissions intensity stood at 39.9 kg CO2e/boe,which decreased to a net emissions intensity of 25 kg CO2e/boe in 2022.This represents a significant 36%reduction from

199、 the 2019 baseline and contributes to our corporate target of achieving 20 kg CO2e/boe from 2020 to 2025,thereby accomplishing a 50%reduction over the five-year period.Methane reductionMethane emissions pose a global challenge for oil and gas producers,and IPC is keenly aware of our responsibility t

200、o continuously tackle emissions reduction within our operations.Our commitment to meeting regulatory requirements is paramount to upholding our credibility as a responsible operator.Through the implementation of various initiatives,we have successfully achieved a methane emissions reduction of 30%be

201、tween 2021 and 2022,and over 60%from the 2019 baseline.Notable actions include retrofitting and upgrading older equipment,such as converting pneumatic instruments from high bleed to low bleed or instrument air,as well as equipping different equipment with engine fuel management and vent gas capture

202、technologies.In 2022,IPC installed Air Fuel Ratio(AFR)devices,waste heat exchangers and completed an electrical optimization project at its sites in Canada.These targeted measures have contributed to our ongoing efforts in mitigating methane emissions.Carbon OffsetsIPCs dedication to emission reduct

203、ion and transparent reporting drives our ongoing initiatives,including active participation in carbon offset generation and engagement in the carbon markets.In our commitment to transparency,we consistently communicate the progress and impact of these efforts.Notably,we are actively involved in both

204、 the regulatory carbon market in Canada,where specific emission reduction initiatives grant us carbon credits over multiple years,and the voluntary carbon market,where we secure international carbon offsets.As part of our strategy to offset a portion of IPCs 2022 CO2 emissions,we maintain a trusted

205、partnership with First Climate to procure carbon credits.We prioritize high-quality carbon credits that facilitate the restoration of the natural environment,such as forest preservation,and contribute to social welfare by enabling clean cooking and access to safe drinking water.Additionally,our effo

206、rts contribute to the expansion of renewable energy within one of the worlds most carbon-intensive power supply regions.Through these actions,we contribute to the global transition towards lower emissions and a more sustainable future.Contributing to Renewable Energy In light of the multifaceted nat

207、ure of emission reductions,we recognize the importance of addressing both direct emissions at the operational level and indirect emissions such as those associated with electricity consumption.To actively contribute to the greening of the local grid,IPC has established a strategic partnership with T

208、C Energy(TCE),a renowned energy infrastructure company,through the implementation of a virtual green power purchase agreement.This agreement ensures that IPC receives a clean energy mix consisting of 75%wind,9%solar,and 16%hydro storage,creating a diversified and sustainable energy portfolio.Through

209、 this type of collaboration,IPC contributes to the wider energy industrys efforts in the transition to low carbon energy supply.20192020202120222022 Scope 1 Emissions by Source(tonnes CO2e)05001,0001,5002,000TransportationProcess0250,000500,000750,000Flaring,venting&fugitiveCombustionThe partnership

210、 with TCE aims to boost renewable energy adoption inAlbertas grid while simultaneously generating carbon credits.Climate Action26IPC Sustainability Report 2022Mitigating our Carbon Footprint Since 2020,IPC has been actively offsetting our CO2 emissions,contributing to emission reduction projects wor

211、ldwide.Initially,we supported renewable energy projects in India,along with initiatives focused on safe drinking water and clean cookstoves.Building on this progress,we are thrilled to announce our partnership with First Climate on two new carbon offsetting projects,further bolstering our commitment

212、 to sustainability.These projects not only enable IPC to offset unavoidable greenhouse gas emissions but also contribute to broader environmental and social goals.It is important to note that carbon offset initiatives often yield positive co-benefits,fostering economic growth,social advancements,and

213、 improved healthcare within local communities.By supporting these projects,IPC actively drives positive change across social and environmental dimensions,aligning with the broader objectives of sustainable development.Avoided Deforestation in PeruIn the remote Madre de Dios Province of Perus Amazon

214、basin,IPC is contributing to a project that supports sustainable forestry practices in a conservation corridor in the Peruvian Amazon.By managing two forestry concessions covering 100,000 hectares,this project allows for the preservation of existing forests which is equally as important as afforesta

215、tion.These forests provide habitat for diverse species,act as significant carbon sinks,and hold cultural and historical importance.By prioritizing forest preservation,we are able to mitigate climate change while simultaneously safeguarding these ecosystems.Furthermore,the revenue generated from carb

216、on certificates supports effective surveillance to combat illegal dwelling,logging and other destructive forest use in the area.Landfill Gas Conversion in MalaysiaIPCs partnership with First Climate also extends to countries in which we operate,such as Malaysia,where we are contributing to a project

217、 that converts landfill gas into renewable energy.By collecting and utilizing methane gas produced in a landfill site in Selangor State,this project helps reduce methane emissions while also generating renewable energy.This energy is used to replace the fossil fuel-based power supply on-site,contrib

218、uting to climate neutrality and reducing greenhouse gas emissions.IPCs carbon offset projects with First Climate align with international standards,including the Verra Standard and the Gold Standard ensuring their credibility and adherence to strict certification processes.Climate Action27IPC Sustai

219、nability Report 2022Land&BiodiversityDeeply committed to preserving the natural environment and protecting biodiversity,IPC actively assesses and manages the impacts of our operations on land and area ecosystems.Environmental baseline studies and impact assessments afford IPC a comprehensive underst

220、anding of our operating environments,allowing us to integrate environmental considerations into all project planning phases and minimize our risk of impact.This approach includes measures such as environmental assessments,continuous monitoring,site rehabilitation,and the adoption of new technologies

221、 for resource and facility management,all aimed at maximizing the efficient use of natural resources.Land Reclamation and Asset Retirement ObligationsIPC maintains a comprehensive asset retirement obligation(ARO)strategy that involves thorough planning for the retirement of our assets over both the

222、short and longer term,and incorporates the associated costs of abandonment and reclamation.Since 2019,IPC has participated in various voluntary provincial asset retirement programs in Canada such as the Area Based Closure program in Alberta and the Accelerated Site Closure Program in Saskatchewan an

223、d has consistently met or exceeded its annual closure spend targets and quotas.The closure spend target program in Saskatchewan begins in 2023,where IPC has already been undertaking closure work in the province.IPC is dedicated to responsibly managing our environmental impact,aiming for continuous i

224、mprovement while minimizing risks.We exceed environmental regulations and industry standards by closely monitoring and mitigating our impacts,with a notable focus on reducing GHG emissions,preserving biodiversity,and efficiently managing water and waste.We employ responsible land use practices,parti

225、cipate in habitat restorationinitiatives,and aim to maintain ecological balance while promotingbiodiversity conservation.28IPC Sustainability Report 2022and associated risks.We also establish valuable affiliations with oil spill response organizations,maintain comprehensive oil spill contingency pla

226、ns,and provide appropriate training.These proactive measures ensure that we can seek assistance swiftly and effectively in the event of a spill that surpasses IPCs internal response capabilities.In 2022,at our Suffield asset in Canada,a failed gasket on a separator vessel resulted in the release of

227、35 m3 of fluids.However,we swiftly contained the incident within the lease site and successfully recovered all fluids using vac truck/combo units.With the extreme cold weather and frozen ground conditions,the emulsion was easily recovered without lasting nor material environmental impact.Water Manag

228、ementIPC embraces the inherent value of water as a precious and finite resource,driving our commitment to responsible water usage.While our operational sites are not currently located in water-stressed areas,we proactively manage water withdrawals and meticulously monitor wastewater disposal.Our loc

229、ation-specific approach ensures compliance with or even surpasses water and operating regulations across all our operational countries.Moreover,we actively engage with key stakeholders,recognizing the importance of collaboration in water management.Environmental StewardshipIn 2022,IPC achieved signi

230、ficant milestones in abandonment and reclamation efforts.402 wells were successfully abandoned,and reclamation work was completed on 336 well sites across Canada.These reclamation activities encompassed various aspects,including environmental assessments,soil restoration,re-vegetation,and the applic

231、ation for reclamation certification.Notably,we obtained reclamation certification status for 45 well sites,signifying the successful restoration of these sites to their intended state.For more in-depth information on IPCs ARO obligations and our approach,please visit our website.Spill Response PlanI

232、PCs Emergency Response Plan is purposefully designed to swiftly address and mitigate spills,ensuring prompt recovery and remediation.The moment a spill is identified,immediate action is taken to minimize its impact.Our priority is to recover as close to 100%of the released volumes as possible in ord

233、er to safeguard the safety of the land,its vibrant flora and fauna,as well as the affected communities.To bolster our response capabilities,each operating area maintains tailored emergency response capabilities and equipment that are specifically suited to their unique operating environment 29IPC Su

234、stainability Report 2022Our water strategy principles guide our efforts to continuously improve water efficiency and handle water from our operations safely.These principles encompass essential aspects:Water Sourcing:We adhere to local regulations and obtain prior informed consent whensourcing and w

235、ithdrawing water.Throughout the development and progression of our watermanagement plans,we prioritize open dialogue and engagement with local communities.Protecting Water Bodies:IPC is acutely aware of the ecological,social,cultural,and economicsignificance of water.As such,we are fully committed t

236、o operating in areas with potential waterstress,ensuring the preservation and protection of water resources.Water Withdrawal,Recycling,and Discharges:Through operational efficiency,water re-use,and recycling initiatives,we actively reduce our reliance on natural water systems.Ouroperations continuou

237、sly explore opportunities to optimize water reduction and recycling whilecarefully considering the net environmental impact and associated costs.In line with our environmental responsibility,IPC limits the discharge of produced water into the sea,strictly adhering to a content level of 20 ppm,which

238、is below the regulatory limit of 40 ppm in Malaysia.Waste ManagementAt IPC,we are actively developing strategies to tackle waste and embracing opportunities to adopt a circular approach throughout our operations and value chain.We firmly believe that waste reduction and effective management are inte

239、gral to our business practices.To minimize waste generation and continually improve waste management processes,we adhere to the“3R”approach:reduce,reuse,and recycle.Waste management plans are in place across all our operating areas,ensuring that waste is properly managed,segregated,and safely dispos

240、ed of in accordance with local regulations.Our Environmental Policy incorporates these principles,guiding our commitment to minimizing waste and its potential environmental and health impacts.Throughout our operations,we diligently identify,characterize,and track all waste generated from its incepti

241、on to final disposal.By closely monitoring the entire waste lifecycle,we mitigate any potential risks associated with waste production and transportation.IPC is dedicated to reducing waste production,minimizing environmental impact,and safeguarding the well-being of our employees,communities,and the

242、 environment.Key Performance Highlights Conducted a high-level assessment of baselines for each material environmental issue,including defining gaps and next steps.Conducted peer benchmarking KPI analysis to identify data gaps&defined potential futureenvironmental targets.Initiated gathering of land

243、 disturbance baseline data to establish new disturbance vsreclamation acreage.Defined water baselines at each asset location.Quantified water efficiency improvements atOLT.IPC,in partnership with the Institute of Oceanography&Environment of the UniversityMalaysia Terengganu(UMT),is now in the third

244、year of implementation of our project toconserve and restore coral reef in Malaysia.Disposalwells16%Freshwater6%Dischargeto sea3%Salinewater41%Waterrecycle2%Our WaterSupplyOur ProducedWater DisposalProduced waterreinjection81%Produced waterreinjection51%Environmental Stewardship30IPC Sustainability

245、Report 2022Environmental Monitoring IPC goes beyond environmental standards with our comprehensive monitoring programs.In Canada,for example,at our Onion Thermal Asset,we not only monitor shallow groundwater as required by approvals from Indian Oil&Gas Canada(IOGC)but also proactively assess the qua

246、lity of surface waterbodies interconnected with wetlands and shallow groundwater.This holistic approach considers the water cycles impact on wildlife,vegetation,and other receptors.Similarly,IPC Malaysia conducts annual environmental monitoring at Bertam Field,ensuring compliance with Environmental

247、Impact Assessment Approval conditions.Our monitoring programs involve collecting water and sediment samples from designated locations and analyzing them at accredited laboratories.Reports consistently demonstrate that all monitored parameters remain well within regulatory standards,validating our co

248、mmitment to environmental stewardship and responsible resource management.Coral Reef Restoration IPCs partnership with the Institute of Oceanography&Environment of the University Malaysia Terengganu(UMT)has yielded remarkable results in our three-year project to conserve and restore coral reefs.Work

249、ing under the project“Coral Reef Conservation&Restoration Towards Sustainable Ecosystem,”this initiative has actively engaged both scientists,local communities and the IPC team in preserving and restoring deteriorated reef areas.Focused on the East coast islands in Terengganu State,Malaysia,the cons

250、ervation efforts have achieved significant milestones including the successful recovery of live coral cover,restored coral-related species,improved food webs,and fostered a healthy reef ecosystem.Efforts also include the planting of 100 coral nubbins to encourage regrowth and resilience.This compreh

251、ensive approach has empowered local stakeholders including divers,fishermen,and students,to actively participate in reef management,ensuring the long-term conservation of these invaluable coral reefs.Drawing inspiration from our accomplishments to date,IPC looks forward to future projects with UMT,a

252、nticipating another impactful collaboration marked by shared goals and active community involvement.Environmental Stewardship31IPC Sustainability Report 2022ENVIRONMENT 22019202020212022Unplanned releases to sea or land 3Oil spills4Number1111Volume from spills(m3)30304235Produced water spills 5Numbe

253、r1202Volume from spills(m3)350480065Chemical spillsNumber0000Volume from spills(m3)0000WaterWater withdrawalSurface waterMunicipal water(m3)-19,845Fresh surface water(m3)2,319,6932,162,9082,550,3762,772,134Saline surface water(m3)16,426,80016,426,09016,297,49416,423,000Ground waterFresh ground water

254、(m3)93,155103,25392,95192,166Saline ground water(m3)413,203708,0951,128,5341,348,652Total water withdrawal(m3)19,252,85119,400,34520,069,35420,655,797Water intensity(m3/boe)-1.13Withdrawal from areas with high water stress(m3)60000Water recyclingVolume(m3)496,281568,435836,243795,097Produced waterVo

255、lume(m3)26,002,02819,121,01024,951,39724,669,215Disposal of produced waterProduced water reinjected into the reservoir(m3)22,162,99814,640,50020,475,31022,260,500Produced water injected into disposal wells(m3)3,154,5863,284,8463,797,3424,387,230Produced water discharged to sea(m3)7678,825716,168721,

256、722897,486Produced water discharged to surface water(m3)0000WasteDrilling waste 8Drill cuttings(t)3,6109611,3566,144Send to approved landfills(t)3,6102513175,251Drill cuttings encapsulated at the well site(t)07000Drill cuttings sent to other type of disposal(t)06401,0390Oil-based drilling fluid(t)3,

257、328735011Sent to off-site processing(t)810735011Water-based drilling fluid(t)15,7615,4861,3048,692Other waste generated during drilling(t)1,1553181841,255Sent to off-site processing(t)022010ENVIRONMENT2019202020212022Hazardous waste generated(t)3,5961,92112,58511,394Hazardous waste recycled/reused 6

258、25813129Hazardous waste disposed:3,5901,66312,57311,265Hazardous Waste landfilled2,9841,40212,50011,133Hazardous Waste incinerated with energy recovery31125572132Hazardous Waste incinerated without energy recovery286200Hazardous Waste sent to other type of disposal9400.2Hazardous Waste with unknown

259、disposal method0000Non-hazardous waste generated(t)920,24721,70836,7844,481Total Non-hazardous waste recycled/reused3402882,6731,109Total Non-hazardous waste disposed:19,90721,42034,1113,372Waste landfilled19,90721,42034,0953,372Non-Hazardous Waste incinerated with energy recovery0090Non-Hazardous W

260、aste incinerated without energy recovery0080Non-Hazardous Waste sent to other type of disposal0000Non-Hazardous Waste with unknown disposal method0000GHG emissions 10 Emission intensity(kg CO2e/boe)1139.8638.8742.1343.43Net emission intensity(kg CO2e/boe)37332825Scope 1 GHG emissions(t CO2e)12696,69

261、9678,512730,512796,081Scope 1 emissions by type of gasCarbon dioxide emissions(CO2)528,936596,783549,587590,004Methane emissions(CH4)6,2822,8783,2692,329Nitrous oxide emissions(N2O)6333938Scope 1 emissions by main emission sourcesCombustion(t CO2e)511,138563,543632,806667,725Flaring,venting and fugi

262、tive(t CO2e)143,95755,87595,851126,615Process(t CO2e)1,3731,231717678Transportation(t CO2e)5368791,1381,063Scope 2 GHG emissions(t CO2e)13138,404104,958127,077119,343Scope 3 GHG emissionsBusiness travel by air(t CO2e)14410381464Offshore travel and logistics(t CO2e)5,3324,6124,3494,679Sales trucking(

263、t CO2e)2,0773,1124,9705,853Drilling activities(t CO2e)25,35210,0825,53417,597Sustainability Data132IPC Sustainability Report 2022ENVIRONMENT2019202020212022GHG emissions reduction projectsForecasted annual emissions reduction tonnes(CO2e)-18,622Total project cost(USD)-5,024,869Anticipated annual cos

264、t savings(USD)-1,578,462Non-GHG emissions Direct sulfur oxides(t SOx)emissions-25Direct nitrogen oxides(t NOx)emissions-1,216Direct volatile organise compounds(t VOCs)-500EnergyEnergy consumption(KWh)15220,221,327 170,043,658 188,481,384 203,373,967Renewable sources(%)-14.3Energy intensity(MWh/boe)1

265、60.0120.0100.0110.011Carbon offsetVoluntary carbon offsets retired(t CO2e)1750,000100,000215,000330,000Carbon credits earned(t CO2e)1824,00035,00029,53246,163BiodiversityIUCN Red List species with habitats in operating areas 19Critically endangered0000Endangered1111Vulnerable5555Near threatened3333N

266、ational conservation list species with habitats in operating areas 19 20Endangered9999Threatened18181818SOCIAL 212019202020212022Health and safety 22FatalitiesEmployees0000Contractors0000Total0000Lost time incidentsEmployees0100Contractors4015Total4115Restricted work incidentsEmployees0011Contractor

267、s1123Total1134Medical treatment incidentsEmployees0000Contractors2211Total2211Lost time incident rate 23Employees-0.00.0Contractors-1.05.0Total1.80.60.62.6Total recordable incident rate 24Employees-1.91.9Contractors-3.96.5Total3.12.43.25.2Exposure hoursEmployees(hours)523,617 502,194 529,289 520,379

268、 Contractors(hours)1,692,813 1,149,522 1,038,583 1,384,846 Total(hours)2,216,430 1,651,715 1,567,872 1,905,225 Near misses with high potential 252211Process safety-Tier 1 loss of primary containment-00Sustainability Data33IPC Sustainability Report 2022SOCIAL2019202020212022Health and safety training

269、&preparedness 26Safety awareness-Number of orientations/safety inductions-8,363 Number of monthly safety meetings-195 Number of planning sessions-447 Total safety awareness sessions-9,005 HSE trainingsNumber of Employees trained-201 Number of Contractors trained-122 Total Nb of Employees+Contractors

270、 trained-323 Hours of HSE trainingsTotal hours Employees trained-4,027 Total hours Contractors trained-2,528 Total hours Employees+Contractors trained-6,555 Average training hours per Employee-15 Average training hours per Contractor-14 Emergency response exercisesNumber of emergency response exerci

271、ses-49 EmploymentEmployees 27Canada156129127131Malaysia62626461France47474648Switzerland20202123Total285258258263Contractors244159176179Total workforce(employees+contractors)529417434442Interns141111New hiresNew hire rates(%)Employees32%8%6%8%Contractors31%23%9%14%Total nb of employee hires-1621Wome

272、n hires rate-63%24%Men hires rate-38%76%New employee hires by age groups(%)50 years-9%19%5%SOCIAL2019202020212022Average hiring cost-5453Total of open positions filled by internal candidates 4607Nb of promotions to managerial positions2000Nb of women promoted rate50%33%0%0%Total nb of Contractor hir

273、es-1424Women hires rate-0%13%Men hires rate-100%87%Departures and turn over Total Nb of Employee departure-561819Women rate-39%47%Men rate-61%53%Age groups(%)50 years-39%32%Total Nb of departure for retirement-30Total Nb of voluntary departure(incl retirement)-101219Women rate-42%Men rate-58%Total N

274、b of non-voluntary departure-4630Total employee turnover rate(as a%of total employees)10%20%7%7%Voluntary turnover rate(incl retirement)(as a%of total employees)-4%6%7%Non-voluntary turnover rate(as a%of total employees)-21%1%0%Total contractor turnover rate expressed as a%of total contractors-40%3%

275、8%Market presence 28Regional leadership teams hired locally(%)29-100%Employees hired locally(%)-98%Work locationEmployeesOffice(%)-68%64%66%Field/site(%)-34%36%34%ContractorsOffice(%)-16%18%15%Field/site(%)-84%82%85%Sustainability Data34IPC Sustainability Report 2022SOCIAL2019202020212022Parental le

276、aveEmployees entitled to parental leave(%)-100%Employees that took parental leave-1Return to work rates of employees that took parental leave-100%Retention rates of employees that took parental leave-100%DiversityWomen in total workforce(%)29%29%31%29%Women in total contractors(%)-4%3%4%Women in tot

277、al interns(%)-29%55%45%Women in all management positions(junior,middle,top management positions)as%of total management positions-23%Nb of Women in junior management positions-5Nb of Women in STEM-related positions-15Nb of Women in revenue generating positions-0%Women in senior management(%)17%17%17%

278、17%Women in the Board of Directors(%)14%14%17%17%Employees by age groups(%)50 years25%26%26%27%Senior management age groups(%)50 years-17%33%50%Board of Directors by age groups(%)50 years86%71%83%83%Training and developmentHSE training(total hours)Women-293 Men-3,734 Leadership Training(total hours)

279、Women-316 Men-1,154 Other Training(total hours)Women-846 Men-308 Total hours of training&development-6,651 Women-1,455 Men-5,196 SOCIAL2019202020212022Average hours per FTE of training&development-Women-19 Men-28 Average amount spent on training(USD)-245,661 Average amount spent on training per tota

280、l FTE(USD)-942 FTEs Women-77 FTEs Men-184 GOVERNANCE 302019202020212022Human rightsIncidents of discriminationNumber of incidents0100Number of incidents reviewed and remediation plans implemented0100Incidents of indigenous rights infringementNumber of incidents0000Number of incidents reviewed and re

281、mediation plans implemented0000Anti-corruptionNumber of substantiated corruption&bribery cases ongoing0000Confirmed incidents of corruption0000Codes of ConductNumber of reported breaches to our codesof conduct 310000WhistleblowingCritical concernsNumber of incidents0110Number of incidents investigat

282、ed110Sustainability Data35IPC Sustainability Report 2022GOVERNANCE2019202020212022ComplianceDisputes associated with operations0000Legal actions for anti-competitive behavior,antitrust,and monopoly practices0Significant fines 32Number0000Value(USD)0000Environmental fines 32Number0000Value(USD)0000No

283、n-monetary sanctionsNumber0000Environmental non-monetary sanctionsNumber0000Local procurement 33Total Procurement(USD)-650,530,281 Local procurement(USD)-602,967,022 Indigenous community procurement(USD)-11,291,704 Local procurement(%)-93%Indigenous community procurement(%)-2%Contributions and partn

284、ershipsTotal Contributions to sustainability initiatives-82,000 85,026 162,890 Community Investment-32,069 Donations-108,380 Sponsorships-22,441 Political contributions,Lobbying(USD)0000Total Contributions to Trade Associations-165,924 Number of Memberships in Trade Associations 34-91010Largest Cont

285、ributions to Trade AssociationsExplorers and Producers Association of Canada-53,763 Alberta Boilers Safety Association00-38,018 Union Franaise des Industries Ptrolires-28,466 Payments to governments 35Total payments to governments(USD)-41,850,000 76,180,000 154,500,000 In TUSDTaxesRoyaltiesFeesProdu

286、ction entitlementsTotalCanada8,36086,1507,1400101,650France15,3106,3800021,690Malaysia970210029,98031,16024,64092,7407,14029,980154,5001Dashes in the data tables indicate that new or more detailed figures are presented in the report.The same data has not beendisclosed in previous years.2The Environm

287、ent data boundary includes Canada,France and Malaysia.Data is represented as 100%ownership interest regardless of actual share owned by IPC with acquisitions and divestitures reflected using the effective date of the transaction.3Significant spills greater than 100 barrels or 15.89 m3.4A failed gask

288、et resulted in the release of 35m3 of emulsion.The release had negligeable environmental impact as extreme cold weather and frozen ground conditions allowed for full fluid recovery.5A release of 30 m3 of produced water was caused by extreme temperature changes leading to a pipe failure.Saline impact

289、ed materials were delineated,removed and disposed at a third party facility.No additional remedial measures were requried upon completion of the impacted material removal.The second release of 35m3 of produced water was due to a hose leak of a truck.Laboratory sample analysis indicated no potential

290、adverse effects of the release and no further remedial measures were required beyond the initial fluid recovery.6Based on the 2019 national water stress rankings,World Resource Institute.7Discharged produced water with a ppm content of 20 ppm,below the 40 ppm regulatory limit.8IPC Canada drilled a s

291、ignificant number of wells in 2022 which accounts for the increase in drilling waste volume.9The material reduction in non-hazardous waste can be attributed to a decrease in volume of contaminated soil disposal to landfills from releases in 2022 compared to previous years,and other operational effic

292、iencies.10GHG emissions from our operations are classified as scope 1,scope 2 and scope 3.Scope 1 emissions are direct emissions from owned or controlled assets.Scope 2 emissions are indirect emissions from the generation of purchased electricity.Scope 3 includes emissions from sources owned or oper

293、ated by a third party.11Emission intensity includes scope 1 CO2e emissions.12Scope 1 is accounted for on an operated basis;it accounts for all direct emissions to air from operated assets.13Scope 2 is accounted for on an operated basis;it accounts for indirect emissions from electricity consumption

294、applying the location-based method14Business travel emissions include Switzerland.15Energy consumption within the organisation,and includes electricity only.16The ratio is calculated by dividing the absolute energy consumption by the organization-specific metric(the denominator),which is barrels of

295、oil equivalent produced.17Carbon emissions were offset by emission reductions in the Verra and Gold Standards registries,through selected climate protection projects.First Climate has irrevocably retired the corresponding emission reduction certificates in the market.18Carbon credits were validated

296、in 2022 covering the years 2021-2022.19IUCN and national conservation list species reported for Canadian assets.20National conservation list species are based on Canadian national listings,including COSEWIC and SARA.21The People data boundary includes Canada,France,Malaysia and Switzerland.22HSE dat

297、a is based on assets where IPC has operational control,excluding Aquitaine Basin asset where IPC has no operational control.We account for and report on all employee and contractor incidents.No workers have been excluded from this disclosure.The main type of incidents in 2022 were hand injuries.For

298、the year 2022,IPC recorded zero severe injury,referring to industry classification of incidents with permanent impairment and recovery time over 180 days(see IOGP).23Lost time incident rate is a rate calculation based on the 2022 total hours worked(employee+contractor).It indicates the number of los

299、t time injuries and fatalities per 1,000,000 hours worked.24Total recordable incident rate is a rate calculation based on the 2022 total hours worked(employee+contractor).It indicates the number of recordable injuries(medical treatment incidents+restricted work.25Near miss with high potential incide

300、nts are incidents or near miss events which in combination of potential consequences(people,environment,asset)and likelihood are assessed to be in the red area.26HSE data is based on assets where IPC has operational control,excluding Aquitaine Basin asset where IPC has no operational control.27We ac

301、count for permanent and fixed term employees by end of year.Sustainability Data36IPC Sustainability Report 202228For the purpose of employment reporting,we define“local”as a national,permenant resident or work permit holder prior to employment with the company.The employee had the status or lived in

302、 the region prior to employment with the company.29We report on local hiring of management teams in our operating regions,these include our country management teams and heads of departments.We consider all our operating regions as“significant locations of operation”and report on all these regions.30

303、The Ethics&Governance data boundary includes Canada,France,Malaysia and Switzerland.31We have no cases of breach of code of conduct to report.Disclosure of code of conducte breaches would include the type of breaches,such as privacy,bribery,discrimination.32We apply a reporting threshold of USD 50,0

304、00 reflecting the size of our company and qualification of significant monetary sanction.33Local procurement refers to the purchase of goods and services from suppliers within the country of the companys operations.34Mercer(Canada)Limited,Alberta Boilers Safety Association,Malaysian International Ch

305、amber of Commerce&Industry,Union Franaise des Industries Ptrolires,MEDEF,Gsip,Explorers and Producers Association of Canada,Palliser Airshed Society,Western Canadian Spill Services,Canadian Heavy Oil Association.35The report on payments to governments(ESTMA)with details of payments is available on w

306、ww.international-Sustainability Data37IPC Sustainability Report 2022SECTOR STANDARDREF#StandardDisclosureDescriptionReferenceIPIECAUN SDGUN GlobalCompactComment/Reasonfor OmissionGRI 2:GENERAL DISCLOSURES(2021)1.Organizational profile2-1Organizational ProfileSR 6/AIF 102-2Entities included in the or

307、ganizations sustainability reportingSR 102-3Reporting period,frequency and contact pointSR 10,final page2-4Restatements of informationSee CommentNot applicable-No restatements for FY 20222-5External assuranceSR 252-6Activities,value chain and other business relationshipsSR 6-82-7EmployeesSR Data Tab

308、le8.2,8.5,10.32-8Workers who are not employeesSR Data Table8.2,8.5,10.32.Governance2-9Governance structure and compositionSR 12/AGM CircularGOV-15.5,16.72-10Nomination and selection of the highest governance bodySR 12/AGM CircularGOV-15.5,16.72-11Chair of the highest governance bodySR 2/AGM Circular

309、GOV-116.62-12Role of the highest governance body in overseeing the management of impactsSR 13/AGM CircularGOV-2,SOC-1316.72-13Delegation of responsibility for managing impactsSR 13/AGM CircularGOV-12-14Role of the highest governance body in sustainability reportingSR 11/AGM CircularGOV-12-15Conflict

310、s of interestSR 12/AIF 67/AGM CircularGOV-2,GOV-32-16Communication of critical concernsSR 12/Whistleblowing Policy and ProcedureGOV-2,SOC-62-17Collective knowledge of the highest governance bodySR 12/AGM CircularGOV-22-18Evaluation of the performance of the highest governance bodySR 13/AGM CircularG

311、OV-12-19Remuneration policiesSR 13/AIF 62-63/AGM Circular2-20Process to determine remunerationSR 13/AGM Circular/Compensation Committee Mandate16.72-21Annual total compensation ratioAGM CircularIPC reports the executive compensation for top 5 employees2-22Statement on sustainable development strateg

312、ySR 102-23Policy commitmentsWebsite 16.31,2,3,4,5,6,7,8,9,10Who we are-international-2-24Embedding policy commitmentsWebsite Who we are-international-2-25Processes to remediate negative impactsSee CommentIPCs remediation procedures encompass a comprehensive approach that involves active engagement w

313、ith affected parties,thorough investigation of incidents,and the implementation of appropriate corrective actions.2-26Mechanisms for seeking advice and raising concernsSR 12/Whistleblowing Policy and ProcedureGOV-2,SOC-816.32-27Compliance with laws and regulationsSee Comment16.3IPC has established r

314、obust systems and processes that encompass a comprehensive approach to regulatory adherence.We closely monitor and stay abreast of applicable laws,regulations,and industry standards that govern our operations.2-28Membership associationsSee CommentIPC actively engages with and supports various member

315、ship associations that are relevant to our business and contribute to our sustainability goals.2-29Approach to stakeholder engagementSR 11&14/Stakeholder Relations Policy8.82-30Collective bargaining agreementsSee CommentIPC is committed to upholding the rights of our employees to engage in collectiv

316、e bargaining and to ensuring that their voices are heard and respected.GRI Index38IPC Sustainability Report 2022SECTOR STANDARDREF#StandardDisclosureDescriptionReferenceIPIECAUN SDGUN GlobalCompactComment/Reasonfor OmissionGRI 3:MATERIAL TOPICS(2021)3-1Process to determine material topicsSR 11/Websi

317、teOur Sustainability Approach-international-3-2List of material topicsSR 11/WebsiteOur Sustainability Approach-international-3-3Management of material topicsSR 11/WebsiteOur Sustainability Approach-international-GRI 201:ECONOMIC PERFORMANCE(2016)11.14.2&11.21.2201-1Direct economic value generated an

318、d distributedAIF 61/ESTMA International Petroleum Corporation/ESTMA IPC Canada Ltd.5.1,8.1,8.2,9.1,9.4,9.511.2.2&11.21.2201-2Financial implications and other risks and opportunities due to climate changeAIF 29-31,37-45/TCFD Report 2022CCE-1,CCE-213.111.21.3201-4Financial assistance received from gov

319、ernmentSee CommentGOV-4Information Unavailable GRI 202:MARKET PRESENCE(2016)11.11.2&11.14.3202-2Proportion of senior management hired from the local communitySR Data TableSOC-158.3GRI 203:INDIRECT ECONOMIC IMPACTS(2016)11.14.4203-1Infrastructure investments and services supportedSee Comment1.2,5.4,9

320、.1,9.4,11.2Information Unavailable:IPC does not currently track infrastructure investments and services supported.11.14.5203-2Significant indirect economic impactsSee Comment1.2,1.4,3.8,8.2,8.3,8.5Information Unavailable:IPC does not currently track significant indirect economic impacts.GRI 204:PROC

321、UREMENT PRACTICES(2016)11.14.6204-1Proportion of spending on local suppliersSR Data TableSOC-148.3GRI 205:ANTI-CORRUPTION(2016)11.20.2205-1Operations assessed for risks related to corruptionCode of Ethics and Business ConductGOV-316.510IPC has a zero tolerance policy with respect to anti-corruption.

322、UN Global Compact Principle 10:Businesses should work against corruption in all its forms,including extortion and bribery.In line with this principle,IPC has adopted a corporate Anti-corruption Policy that includes elements designed to prevent or detect and remediate potential violations.We plan to

323、report on formal risk assessments on corruption in the coming two years.11.20.3205-2Communication and training about anti-corruption policies and proceduresSR 16/Code of Ethics and Business ConductGOV-316.510IPC is partially meeting standard with regard to communicating anti-corruption policies.In 2

324、023-2024 it is planned that we will roll out a training program.11.20.4205-3Confirmed incidents of corruption and actions takenSR Data Table/Code of Ethics and Business ConductGOV-316.510No details provided on corruption cases as no cases were reported.GRI 206:ANTI-COMPETITIVE BEHAVIOR(2016)11.19.22

325、06-1Legal actions for anti-competitive behavior,antitrust,and monopoly practicesSRGOV-316.3IPC is committed to complying with all applicable laws and regulations governing competition and actively work to prevent any actions that may restrict fair competition or create monopolistic practices.There w

326、ere no legal actions to report.GRI Index39IPC Sustainability Report 2022SECTOR STANDARDREF#StandardDisclosureDescriptionReferenceIPIECAUN SDGUN GlobalCompactComment/Reasonfor OmissionGRI 207:TAX(2019)11.21.4207-1Approach to TaxSR 131.1,1.3,10.4,17.1,17.311.21.5207-2Tax governance,control,and risk ma

327、nagementSR 131.1,1.3,10.4,17.1,17.311.21.6207-3Stakeholder engagement and management of concerns related to taxSR 13GOV-41.1,1.3,10.4,17.111.21.7207-4Country-by-country reportingSR Data TableGRI 302:ENERGY(2016)11.1.2302-1Energy consumption within the organisationSR Data TableCCE-67.2,8.4,12.2,13.19

328、The data provided comprises a singular indicator,specifically the total energy consumption measured in kilowatt-hours(KWh).11.1.3302-2 Energy consumption outside of the organizationSee CommentCCE-67.2,8.4,12.2,13.19Information Unavailable:IPC does not currently track energy consumption outside its o

329、rganization.11.1.4302-3Energy intensitySR Data TableCCE-67.2,8.4,12.2,13.19The data provided comprises a singular indicator,specifically the total energy consumption measured in kilowatt-hours(KWh).GRI 303:WATER AND EFFLUENTS(2018)11.6.2303-1Interactions with water as a shared resourceSR 29-30ENV-1,

330、ENV-26.1,6.3,6.4,6.6,12.47,811.6.3303-2Management of water discharge-related impactsSR 29-30ENV-1,ENV-26.37,811.6.4303-3Water withdrawalSR 30&Data TableENV-1,ENV-26.47,8,911.6.5303-4Water dischargeSR 30&Data TableENV-26.37,8,911.6.6303-5Water consumptionSR 30&Data TableENV-16.4GRI 304:BIODIVERSITY(2

331、016)11.4.2304-1Operational sites owned,leased,managed in,or adjacent to,protected areas and areas of high biodiversity value outside protected areasSR 28ENV-3,ENV-46.4,6.6,14.2,15.1,15.5,15.87,811.4.3304-2Significant impacts of activities on biodiversitySR 28ENV-3,ENV-46.6,14.2,15.1,15.5,15.87,811.4

332、.4304-3Habitats protected or restoredSR 28-29ENV-3,ENV-46.6,14.2,15.1,15.57,811.4.5304-4IUCN Red List species and national conservation list species with habitats in areas affected by operationsSR Data TableENV-36.6,14.2,15.1,15.67,8GRI 305:EMISSIONS(2016)11.1.5305-1Direct(scope 1)GHG emissionsSR 25

333、-26&Data TableCCE-3,CCE-4,CCE-53.9,12.4,13.1,14.3,15.27,8,911.1.6305-2Energy indirect(scope 2)GHG emissionsSR 25&Data TableCCE-3,CCE-4,CCE-53.9,12.4,13.1,14.3,15.37,8,911.1.7305-3Other indirect(scope 3)GHG emissionsSR 25&Data TableCCE-3,CCE-4,CCE-53.9,12.4,13.1,14.3,15.47,8,911.1.8305-4GHG emissions intensitySR 26&Data TableCCE-3,CCE-4,CCE-513.1,14.3,15.211.2.3305-5Reduction of GHG emissionsSR 25-