Metrics and Targets
Climate-related performance metrics have been included in our disclosures since we began sustainability reporting in 2005. Measuring our emissions profile provides visibility into which cost-efficient measures are most effective in reducing GHG emissions. We continue to improve both the reduction of our emissions intensity and the transparency of our reporting.
Our executive leadership team, with the support of our Board, continues to enhance our approach to climate and emissions disclosure. These enhancements include a process to measure (near) real time emissions, which is used to inform our climate related performance targets.
As part of our efforts to continue to drive ESG progress, we have committed to reduce our Scope 1 & 2 GHG intensity by 50% by 2030 from 2019 levels. This goal was included in Ovintiv’s annual incentive compensation program for all employees beginning in 2022. We have a proven track record of success exemplified by achieving our methane intensity reduction target in 2021, four years ahead of schedule.
Target setting to drive performance is part of Ovintiv’s culture and we don’t take this exercise lightly. Our purposeful climate targets drive meaningful improvements in our emissions performance, are integrated into our business performance management system and are transparent to our staff and external stakeholders alike