2021 ESG Report
Our 2021 Environmental, Social and Governance (ESG) Report demonstrates our commitment to ESG and provides insight into our accomplishments. We see ESG as an opportunity to focus on sustainability targets and initiatives, engage our people, incorporate best practices, create value for our stakeholders, and make a positive contribution to the communities where we operate.
This report lays the foundation for our ESG strategy, providing a framework to track and enhance performance. Key highlights from our 2021 Inaugural ESG report includes:
- The introduction of West Lake’s ESG framework and strategy, providing improved disclosure and transparency
- 22% decrease in total greenhouse gas emissions since 2018
- 5% decrease in asset retirement obligations with expectation of completing remediation of BC sites in 2022
- ~100% of produced water recycled or injected in 2020 and 2021
- 53% decrease in total health and safety recordable incident rate
- Substantial representation and employment of First Nations communities
- Provided over $202 million in economic benefit in 2021 to local communities, suppliers, First Nations groups and other stakeholders
- Improved relationship with Frog Lake First Nations and $7.6 million spent on First Nations businesses
- Reviewed internal policies, procedures and processes, implementing improvements for better governance
“We are proud to report on our accomplishments to improve our ESG practices as we worked to refocus West Lake over the last two years. While our transformation encompasses all areas, we have implemented specific ESG initiatives to reduce greenhouse gas emissions, reclaim and restore land, advance safety programs, respect and support our stakeholders, improve governance processes, and invest in our people. We look forward to further reporting on our ESG journey as we strive to become a leader in ESG investment and stewardship.”
2022 ESG Update
With a strong track record of respectful, responsible development, West Lake continues to execute and advance our ESG goals in each of our core areas as part of our sustainability strategy. We are proud to share our progress on key initiatives in 2022, but recognize that this is a journey, not an end goal. We will continue to implement new ways to improve our performance to ensure the needs of the community, environment and our stakeholders are met as we continue our energy transformation.