Environmental Management System
Our Commitment
Continuous improvement has long been part of Laredo’s culture of doing the right thing and our efforts around environmental management are no different. While we work to formalize our environmental management system in alignment with the ISO 14001 Standard, the “Plan-Do-Check-Act (PDCA) methodology has long been integrated into our operations. For example, one of our 2019 goals was to reduce the frequency and volume of fluids spilled.
Our Operations and Health, Safety and Environment teams identified potential risks, developed mitigation plans, met monthly to track progress toward our goals and worked through our Root Cause Analysis program to avoid future spills. These efforts led to continued operational improvements, with the number of spills reduced by 40% and the net volume spilled by 82% when compared to 2017 performance.
Laredo continued to augment our EMS in 2020 by operationalizing our emissions reduction strategy. Relatedly, our aim is to outperform our 2025 emissions reduction targets by focusing on three key areas: flaring and venting, pneumatics and electrification.
The Vital Energy Way
The Challenges
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Committed to Our Approach
Our Process and Working with Partners
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Doing the Right Thing
Our ESG Highlights
Environmental
- Emissions targets
- Resilient planning and scenario analysis
- Sustainable development
- Disclosed Scope 3 emissions
Social
- Increased Board diversity (on basis of race and gender) from 22% to 56% since 2019
- Commitment to diversity and inclusion progress and transparency demonstrated by EEO-1 data disclosure
- Women in leadership
- Employee and contractor safety
- Local philanthropy and community engagement
Governance
- Nationally-recognized Board diversity
- Formalized ESG oversight and management structure
- Independent Board leadership
Emissions Targets
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12.5 mtCO2e/MBOE
(2019 calendar year baseline)
ZERO
Routine Flaring by 2025
< .20%
(as a percentage of natural gas production)