Chesapeake Energy outlines ESG record in sustainability report

Published on June 13, 2024 by Dave Kovaleski

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Chesapeake Energy released its 2023 Sustainability Report this week, outlining their record and performance in environmental, social and governance (ESG) issues.

Among the key sustainability highlights, Chesapeake achieved its 2025 climate targets on its pathway to net zero. By year-end 2023, the company reduced its Scope 1 and Scope 2 greenhouse gas (GHG) emissions intensity to 2.1 mtCO2e / gross operated mboe produced. This beat its target of 3.0 mtCO2e / gross operated mboe produced. It also showed a more than 60 percent reduction since 2020.

Also, the company achieved 0.02% volume methane emissions / gross operated natural gas produced. This was the company’s 2025 target and represents a more than 80 percent reduction in methane emissions intensity from 2020. These targets are in support of the company achieving net zero greenhouse gas (GHG) (Scope 1 and 2) by 2035.

“We believe in a future where responsible energy production supports global climate ambitions and meets the needs of worldwide energy demand,” Nick Dell’Osso, Chesapeake’s president and CEO, said. “Chesapeake is proud to serve as a solution to today’s energy challenges, accomplishing significant operational and organizational milestones while maintaining our high standards of sustainability performance. As you’ll read in our sustainability reporting, our team is committed to supporting energy security and global prosperity, while reducing emissions and maintaining safe operations.”

Among other highlights, Chesapeake joined the Oil and Gas Methane Partnership (OGMP) 2.0 to improve the transparency and accuracy of its methane emissions reporting.

Further, Chesapeake certified all of its natural gas production as responsibly sourced gas (RSG) across two major basins.

Also, Chesapeake improved its safety performance by partnering with high-performing service providers and enhancing the oversight of field operations. It also implemented a new program focused on identifying worksite hazards that have the potential to seriously injure on-site workers. The company’s Serious Incident and Fatality (SIF) prevention program has included targeted training for all levels of employees to better identify high risk activities and implement critical controls to limit exposure.

Finally, the company’s Marcellus and Haynesville stakeholder engagement teams hosted local, in-person meetings with landowners, elected officials and community partners to encourage transparent communication and feedback.