Murphy Oil Corporation Releases 2022 Sustainability Report

Source: 8/3/2022, Location: North America

Murphy Oil Corporation released the 2022 Sustainability Report, which covers the company’s environmental, social and governance (ESG) performance and progress on established targets. The report is available here, along with a summary fact sheet.

“The 2022 report highlights our team’s keen focus on advancing our sustainability efforts. Our priorities target the issues that are most relevant to and controllable by our company – items such as clean water and air and supporting our people and the communities where we operate and live – while maintaining strong governance oversight. In addition, we have enhanced the ESG metric component of our annual incentive plan to now include an emissions intensity reduction target,” said Roger W. Jenkins, President and Chief Executive Officer.

Murphy’s 2022 Sustainability Report spotlights how sustainable business practices are integrated into the company’s strategy, goals and daily operations. Highlights from the report include:
- Continuing strong environmental stewardship
- Reduced greenhouse gas (GHG) emissions intensity by 20 percent, reduced methane intensity by 28 percent and reduced flaring intensity by 49 percent from 2019 to 2021
- Achieved highest water recycling ratio for onshore assets in company history in 2021, while continuing to develop solutions to reduce freshwater requirements and maximize water recycling
- Recorded zero spills in 2021, as defined by the International Association of Oil and Gas Producers (IOGP)
- Impacting people and communities positively
- Lowered Total Recordable Incident Rate (TRIR) by 46 percent and improved Lost Time Incident Rate (LTIR) by 50 percent from 2019 to 2021
- Contributed more than $900,000 as part of employee gift matching program in 2021
- Awarded more than 3,000 scholarships to high school students through the El Dorado Promise since 2007
- Maintaining strong governance oversight
- Augmented Board of Directors’ oversight of ESG-focused responsibilities through committee charter enhancements
- Earned third-party assurance of GHG Scope 1 and 2 absolute data for second consecutive year
- Improved accountability by adding GHG emissions intensity metric to annual incentive plan
- Awards and recognitions
- Ranked in highest percentile by ISS Governance QualityScore in 2021
- Received the President’s Volunteer Service Award from the Houston Food Bank in recognition of employees’ volunteer efforts in 2021
- Achieved United Way of Greater Houston’s 2021 – 2022 Community Campaign Honor Roll, President’s Division

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