SUSTAINABILITY OVERVIEW
Sustainability is rooted in our foundational values. At Ovintiv, we are proud to make modern life possible by producing safe, affordable, secure 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 progress.
Highlights
- Achieved a >30% reduction in our Scope 1 & 2 greenhouse gas (GHG) emissions intensity since 2019, making progress towards our goal of 50% reduction by 2030
- Continue to be fully aligned with the World Bank Zero Routine Flaring Initiative
- Bolstered our inclusive workplace culture with an updated benefits package that includes an industry-leading family leave policy
- Continued to progress our Board renewal efforts
- Introduced a second safety metric to our compensation program
From the
Chair & CEO
Producing safe, affordable, secure, and reliable energy both profitably and sustainably is a powerful purpose – one that we take seriously. Our products fuel the world and make modern life possible.
Access to safe, affordable, secure, and reliable energy has never been more crucial, as demonstrated by the volatility that characterized 2022. Record inflation, geo-political disruption and continued supply chain disruptions culminated in rising costs across the globe.
Our Values
Our values are the set of common principles that connect us. They serve as our inner compass, defining our behavior and driving our culture. They impact how we execute our strategy, deliver on our objectives, and achieve our purpose of making modern life possible. We are proud of our results and how we achieve them.
Our Purpose
Our products fuel the world – we make modern life possible. We are united in achieving our purpose to provide safe, affordable, secure and reliable energy to the world. 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
Sustainability underpins our vision of being a leading North American producer of oil and gas. It represents our focus on efficiency, disciplined capital allocation and financial strength, and our commitment to environment, social and governance progress – operating safely, lowering emissions, reducing our environmental footprint and supporting our social commitment.
History of Transparent Disclosure
Since 2005, Ovintiv has published a sustainability report that provides transparency into our environment, social and governance approach, performance and related issues that could impact our business.
To determine which topics to highlight in our reporting, we conduct an environment, social and governance materiality assessment, track input and guidance from key stakeholders, and reference multiple third-party reporting standards and frameworks.
Sustainability Materiality Assessment
To ensure the relevance of our reporting, we actively engage with key internal and external stakeholders through environment, social and governance materiality assessments. During these assessments, we evaluate issues against two criteria: impact to our business and importance to stakeholders.
To develop a list of environment, social and governance issues relevant to Ovintiv and our shareholders, we utilize international sustainability reporting standards, perform gap analysis based on disclosure benchmarking and include feedback from stakeholder interaction throughout the year.
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.
