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Neptune Energy awarded ‘gold medal’ by EcoVadis for ESG performance

View all news from: Neptune Energy (Neptune E&P UK Ltd)
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13 July 2022

Neptune Energy has announced it has been awarded gold medal status from the environment, social and governance (ESG) ratings organisation, EcoVadis. The score places Neptune in the top 5% of all 95,000 global companies assessed by the organisation.

EcoVadis assesses companies’ policies, actions and performance disclosures in the areas of environment, labour and human rights, ethics and sustainable procurement.

In its scorecard, EcoVadis highlighted Neptune’s disclosure of emissions data and quantitative targets, which include Neptune’s ambition to store more carbon than is emitted from its operations and the use of its sold products by 2030. It also highlighted Neptune’s strong environmental management practices and comprehensive labour and human rights policies and procedures.

The scorecard recognised Neptune’s commitment to transparent ESG disclosure, stating that "the overall score has increased thanks to the publication of additional sustainability reporting.” It also noted the improvement Neptune made in sustainable procurement, with a "comprehensive policy that integrates commitments, qualitative and quantitative objectives on the management of its sustainable procurement issues.”

The improved score from EcoVadis follows an upgrade by Sustainalytics in April this year, which put Neptune in the top 3% of all oil and gas companies rated by the organisation.