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GEOPARK presents its 2020 SPEED/ESG  Sustainability Report
GEOPARK presents its 2020 SPEED/ESG Sustainability Report
Sep 16 2021

Bogota, Colombia GeoPark, a leading independent Latin American oil and gas explorer, operator and consolidator that has operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina, has presented its 2020 SPEED/ESG Report detailing its contributions and achievements in the sustainable development of the communities and countries it operates in. In a year of unprecedented challenges in the lives and well-being of millions of people, GeoPark made continuous progress in its environmental, social and corporate governance metrics, reaffirming its commitment to continue creating and delivering value to all its stakeholders.

“When we founded GeoPark in 2002 we set about building a Company for the long term that would be the leading independent oil and gas exploration and production company in Latin America,” GeoPark CEO James F. Park said. “We also wanted to be a different kind of company that was guided by a commitment to our shareholders, employees, communities and the environment; things that we knew were essential to succeed today and ensure our future.”

The 2020 SPEED/ESG Report documents GeoPark’s progress in critical areas of sustainability such as reducing greenhouse gas emissions, managing water resources, preserving biodiversity, caring for employees and communities during the Covid-19 emergency, and responsibility in the value chain. The report also describes the evolution and strengthening of GeoPark’s corporate governance, as well as its ongoing work to align with global best practices for gender equality.

2020 highlights include:

  • GHG emissions reduction: our intensity index from operations in 2020 was 15.2 kg CO₂e per barrel, 28.3% below the global industry average
  • Enhancing corporate governance: the designation of two new independent Board members, Sylvia Escovar and Somit Varma, in line with best corporate governance practice in Latin America and the industry.
  • Upholding high environmental standards: renewing the ISO 14001 Environmental Management System certification through 2023. Zero environmental fines or sanctions.
  • Protecting biodiversity: participation in a biodiversity and development initiative in Putumayo department, through which GeoPark Works with institutions and other companies for the protection, restoration, ecosystem connectivity and sustainable development of the region.
  • Good neighborliness: support to communities and authorities since the start of the Covid-19 emergency. More than 58,000 neighbors benefited from GeoPark’s ongoing donations, which included food and medical supplies.
  • Support for local economies: ensuring the sustainability of the value chain by purchasing goods and services from local suppliers for a total sum of $64 million.
  • Leaders in equality and inclusion: outstanding indicators in gender equality and reporting, for the first time following the evaluation framework of the Bloomberg Gender-Equality Index. Progress in the Equipares gender equality certification process, aiming to win the Silver Award in 2021.
  • Health and safety in times of crisis: the first company in the global hydrocarbons industry to be awarded the Bureau Veritas Safeguard Label for efforts to prevent the spread of Covid-19.
  • Best ESG metrics: for the second consecutive year GeoPark was the listed company that by size and sector had the best environmental, social and governance metrics in Latin America.

Our 2020 SPEED/ESG Report was prepared for the third consecutive year according to Global Reporting Initiative (GRI) guidelines, and includes sustainability reporting guide of the Global Oil and Gas Association for Advancing Environmental and Social Performance (IPIECA), and the Sustainability Accounting Standards Board (SASB).

You can see the 2020 SPEED/ESG Report at the GeoPark website www.geo-park.com or by clicking here.


 

ABOUT GEOPARK

GeoPark is a leading Latin American oil and gas exploration and production company with assets in Colombia, Ecuador, Chile, Brazil and Argentina that since 2014 has been listed on the New York Stock Exchange. It is the second-largest oil producer in Colombia with almost 8% of total production in the country. Since its foundation, GeoPark has had an Integrated Values System called SPEED, which encapsulates the Company’s commitment in five critical areas: Safety, Prosperity, Employees, Environment and Community Development. SPEED has been GeoPark’s key to attracting the best talent, being the partner of choice, the best neighbor and developing a successful, safe and sustainable operation.

 

For more information:

Andrea Zuleta

azuleta@geo-park.com