Archrock, Inc. (NYSE:AROC) (“Archrock”) announced the publication of its 2023 Sustainability Report, providing an update on the Company’s sustainability initiatives and performance. The report is based on 2023 data and also includes certain achievements made year-to-date in 2024, underscoring the Company’s culture of continuous improvement.
2023 Sustainability Report Highlights
- Exceeded safety targets for Total Recordable Incident Rate and Preventable Vehicle Incident Rate, and delivered a zero Lost Time Incident Rate for the third consecutive year.
- Awarded the Gas Processors Suppliers Association (GPSA) Excellence in Safety Award for the 3rd time.
- Achieved a 19% year-over-year reduction in Scope 1 and Scope 2 CO2 emissions intensity compared to 2022.
- Invested 20% of 2023 organic growth capex in electric drive compression horsepower, secured a minority investment in a carbon capture company and began commercializing a patent-pending methane capture technology.
- In late 2023, named one of America’s Most Responsible Companies for 2024 by Newsweek magazine.
- Sustainability-focused metrics represented 20% of our short-term incentive program.
“We are excited to publish our 2023 Sustainability Report, which details efforts that we believe are essential to delivering long-term value for our stakeholders,” said Brad Childers, Archrock’s President and Chief Executive Officer. “The release coincides with the 70th Anniversary of the Company’s founding, a testament to Archrock’s legacy of adaptability. Our success would not be possible without the incredible team we have at Archrock. I want to thank our employees for enabling us to deliver the best performance in the Company’s history and for continuing to set the compression industry standard for safety, customer service and sustainability.
“As the report highlights, we are focused on innovative technology and process investments to digitize, automate and decarbonize our operating platform. From bringing methane monitoring and capture solutions to market, to our recent acquisition of TOPS, which establishes Archrock as the leader in electric motor drive compression, we are powering a cleaner America,” concluded Childers.
Archrock’s 2023 Sustainability Report continues to align with the Sustainability Accounting Standards Board (SASB) midstream and the Task Force on Climate-related Disclosures (TCFD) reporting frameworks.
