CALGARY,
AB, Oct. 13, 2021 /PRNewswire/ - Vermilion
Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX:
VET) (NYSE: VET) is pleased to announce that it has achieved
certification under the EO100™ Standard for Responsible Energy
Development (2017) from Equitable Origin for three of its natural
gas production sites in west-central Alberta: Granada, Eta Lake and Carrot Creek.
Vermilion is the third producer of natural gas in Canada to have achieved this rigorous
certification, which is based on an independent assessment of
performance targets within five Environment, Social and
Governance-related (ESG) principles: corporate governance,
transparency and ethics; human rights, social impact and community
development; Indigenous People's rights; fair labor and working
conditions; and climate change, biodiversity and environment.
"This significant achievement demonstrates our continued
commitment to the ESG leadership we have established over the past
decade, and helps achieve our goal of providing responsibly
produced natural gas to the market," said Curtis Hicks, President. "As the energy
transition progresses, we believe it is essential to demonstrate
verified excellence in the environmental and social conditions
under which energy has been produced, including natural gas.
Independent and stringent certifications such as Equitable Origin
provide an important signal about operational quality to
stakeholders such as our investors, governments and
communities."
Through its site certification program, Equitable Origin
provides credible, independent recognition to energy developers
that lead their sector in social and environmental performance.
Certification for Vermilion's sites included an independent
third-party assessment conducted in June and July 2021, covering a policies and procedures
review, in-person field visits, interviews with workers,
contractors and management, and meetings with Indigenous leaders,
to verify performance.
"In addition to meeting the standard for certification, which
includes a commitment to continuous improvement, Vermilion
demonstrated leading practices in several areas, including good
faith consultation, land rights, community health and safety, and
sustainable community investment," said Soledad Mills, Chief Executive Officer of
Equitable Origin.
Under Vermilion's first certified natural gas transaction, a
portion has been committed to supply a natural gas distributor
through Macquarie Energy Canada Ltd., a wholly owned subsidiary of
Macquarie Group. This transaction is the result of extensive
collaboration between Vermilion and the counterparties, along with
Validere and Xpansiv, the global marketplace for ESG commodities,
which provides the registry that ensures trust through data
transparency. All of our partners share a vision to transition
toward a lower-carbon economy.
About Vermilion
Vermilion is an international energy producer that seeks to
create value through the acquisition, exploration, development and
optimization of producing assets in North
America, Europe and
Australia. Our business model
emphasizes free cash flow generation and returning capital to
investors when economically warranted, augmented by value-adding
acquisitions. Vermilion's operations are focused on the
exploitation of light oil and liquids-rich natural gas conventional
resource plays in North America
and the exploration and development of conventional natural gas and
oil opportunities in Europe and
Australia.
Vermilion's priorities are health and safety, the environment,
and profitability, in that order. Nothing is more important to us
than the safety of the public and those who work with us, and the
protection of our natural surroundings. In addition, Vermilion
emphasizes strategic community investment in each of our operating
areas. We have been recognized as a strong performer amongst
Canadian publicly listed companies in governance practices, a
Climate Leadership level (A-) performer by the CDP, and a Best
Workplace in the Great Place to Work® Institute's annual rankings
in Canada and Germany.
Employees and directors hold approximately 5% of our outstanding
shares and are committed to delivering long-term value for all
stakeholders. Vermilion trades on the Toronto Stock Exchange and
the New York Stock Exchange under the symbol VET.
About Equitable Origin
Equitable Origin is a non-profit organization that created the
first market-based mechanism to recognize and reward responsible
energy producers and to empower energy purchasers through
independent, site-level certification. The EO100™ Standard for
Responsible Energy Development is grounded in a set of
comprehensive, globally applicable ESG performance targets
developed with extensive stakeholder input. The EO100™ Standard
includes five core principles: corporate governance and ethics;
social impacts, human rights and community engagement; Indigenous
Peoples' rights; occupational health & safety and fair labor
standards; and environmental impacts, biodiversity and climate
change. Certification against the EO100™ Standard promotes best
practices and drives improvements in ESG performance while enabling
a market for differentiated energy production.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/vermilion-energy-inc-achieves-responsible-producer-certification-through-equitable-origin-301399651.html
SOURCE Vermilion Energy Inc.