Seplat Restates Commitment to Sustainable Value Delivery

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By Goddy Egene

Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), is strongly committed to deploying resources and expertise to create and deliver sustainable value to meet the expectations of its various stakeholders through a responsible approach in the management of the company’s Environment Social, and Governance (ESG) imperatives.

Chief Executive Office at Seplat, Mr. Roger Brown, stated this at the Facts Behind the Sustainability Report presentation made to the NSE.

According to him, the company is committed to driving operational excellence in optimizing benefits to society and minimizing the negative impacts of its activities whilst making significant contributions towards sustainable development and pursuing continuous improvements in its Key Performance Indicators (KPIs) to ensure a better world without losing focus on the future generations.

Brown said Seplat’s sustainability policy is based on the following principles: commitment to transparent and complete disclosure of our ESG performance; encouraging responsible use of resources – energy, water and others; implementing human rights and gender equality; needs assessment of stakeholders to identify appropriate solutions; considering natural and cultural circumstances of Seplat’s host communities in the implementation of CSR initiatives; and setting science-based targets to deliver on environmental footprint.

“We adopt an inclusive stakeholder management approach; integrate sustainability into our core business model and strategy; embed sustainability concept and practice companywide; operate the highest standard of corporate governance; leverage on stakeholder engagement in determining materiality; and exhibit a strong belief in our shared value philosophy,” he noted.

He explained that the company is strongly driving Nigeria’s transition to gas, delivering significant environmental, economic and social benefits that support United Nations Sustainable Development Goals.

On Seplat’s response to climate change, he said the company was strongly adhering to its flare out campaign to reduce carbon footprint, and has gone ahead to established a science-based assessment of “our greenhouse gases emissions and reporting, adding that Seplat is currently investing in new infrastructure and R&D to help capture some of the emissions not previously reported.”

“We are developing a carbon calculator for continuous sustainable deployment to highlight the most negative carbon emission activities. Our investments in gas at Oben, Sapele and ANOH is aimed at reducing GHG emissions.

“Seplat has created a new energy group to manage our midstream gas business and explore the adoption of renewable energy,” Brown added.

According to him, Seplat’s operations impact a wide range of stakeholders, saying that the company has continued to deploy proactive and effective stakeholder engagement framework, identify and classify stakeholders and their expectations, build mutually beneficial relationship with stakeholders, engage its stakeholders regularly and consistently, and deliver consistently on our Global Memorandum of Understanding (GMoU) commitments.

He explained that Seplat has invested extensively on development of local suppliers, of which over 98 per cent of materials are sourced from Nigeria.

“We have a deliberate policy of encouraging local contractors in the award of some jobs. The company takes the issue of local content delivery seriously. Over the years, Seplat has improved economic empowerment of women and youths with customised empowerment programme, sustained skills acquisition programme for youths in its communities whilst creating jobs and developing local suppliers.