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Sustainability Overview

Sustainability is rooted in our foundational values. At Ovintiv, we are proud to make modern life possible by producing safe, affordable and reliable energy in North America.

We are at the forefront of producing oil and natural gas both profitably and sustainably, which means maintaining our focus on the balance sheet while continuing to drive real and measurable environmental, social and governance (ESG) progress.

Highlights

Achieved a 24% reduction in our Scope 1 & 2 GHG emissions intensity since 2019, putting us well on our way to achieving our target of reducing our Scope 1 & 2 greenhouse gas (GHG) emissions intensity by 50% by 2030 from 2019 levels
Delivered on our 33% methane intensity reduction target in 2021, four years ahead of schedule
Aligned fully with the World Bank Zero Routine Flaring Initiative as of September 1, 2021, nine years ahead of the World Bank’s 2030 compliance target
Achieved our safest year ever in 2021, our eighth consecutive year of safety improvement
Launched a renewed social commitment to define what we expect of ourselves and our strategic partnerships – respecting our stakeholders and Indigenous partners, strengthening communities and fostering inclusion
Broadened diversity of Board of Directors
Ensured alignment to our ESG objectives by tying our GHG reduction target to compensation

From the Chair & CEO

We have a powerful purpose – producing safe, affordable, reliable and secure oil and natural gas from shale profitably and sustainably. Our products fuel the world and make modern life possible. From transportation to education to healthcare, the energy we responsibly produce contributes to our energy security, ensures quality of life for many, and helps lift people out of poverty.

Making Modern Life Possible

Our rapid progress on ESG is fundamental to human advancement and essential to the global ambition to reduce emissions. At Ovintiv, we will continue to pioneer innovative ways to provide energy while driving down global emissions both today and into the future. We are at the forefront of driving innovation to both profitably and sustainably produce oil and natural gas from shale.

Our Approach to Sustainability

Sustainability is a pillar of our organization and encompasses more than just environment, social and governance (ESG) matters. It is central to our superior returns strategy — industry-leading efficiency, disciplined capital allocation and financial strength. It also drives our ESG progress — operating safely, lowering emissions, reducing our environmental footprint and underscoring our social commitment.

History of Transparent Disclosure

Since 2005, Ovintiv has published a sustainability report that provides transparency into our ESG performance and related issues that could impact our business.  

To determine which topics to highlight in our reporting, we conduct an ESG materiality assessment, track input and guidance from key stakeholders and reference a number of third-party reporting standards and frameworks. 

ESG Materiality Assessment

To ensure the relevance of our reporting, we actively engage with key internal and external stakeholders through ESG materiality assessments. During these assessments, we evaluate ESG issues against two criteria: impact to our business and importance to stakeholders.  

To develop a list of ESG issues relevant to Ovintiv and our shareholders, we utilize international sustainability reporting standards, perform gap analyses based on disclosure benchmarking and include feedback from stakeholder interaction throughout the year. Next, we meet with stakeholder groups through a formal, strategic process that incorporates both qualitative research and quantitative analysis to effectively evaluate the most relevant ESG issues. 

United Nations Sustainable Development Goals

Ipieca, the global oil and gas association for advancing environmental and social performance, partnered with the World Business Council for Sustainable Development to develop a shared understanding of how the oil and natural gas industry impacts the United Nations (UN) Sustainable Development Goals (SDGs). This partnership created a roadmap for how our sector can support these goals and contribute to a healthier and more prosperous world.