Ascent Resources is proud to present its sixth sustainability report, chronicling the company’s performance on non-financial environmental, health, and safety (EHS) metrics, as well as social responsibility and governance efforts throughout 2023. This comprehensive report aims to provide stakeholders with a broader view of what encompasses sustainability at Ascent, emphasizing principled governance, sound financial practices, and a commitment to societal benefits.
The report follows the Sustainability Accounting Standards Board (SASB) disclosure standards and incorporates elements from the Global Reporting Initiative (GRI) standards. Additionally, it includes the American Exploration and Production Council (AXPC) ESG Metrics Framework, ensuring relevant, consistent, measurable, and comparable metrics are used.
Key highlights of the report include Ascent’s continued commitment to environmental stewardship, social responsibility, and robust governance practices. The company has made significant strides in emissions management, water conservation, land use, and community engagement. Ascent’s efforts are underpinned by a strong governance structure, a dedicated and talented workforce, and a relentless pursuit of operational excellence.
Ascent’s 2023 Sustainability Report underscores the company’s belief that excellence in operations and financial performance cannot be achieved without a commitment to EHS excellence. This holistic approach to sustainability is central to Ascent’s mission of responsibly delivering affordable, reliable, cleaner-burning energy while maintaining a positive impact on the environment and society.
2023 Sustainability Report Summary
About This Report
- Sixth sustainability report by Ascent Resources.
- Covers non-financial environmental, health, safety (EHS), social responsibility, and governance metrics.
- Adheres to Sustainability Accounting Standards Board (SASB) and Global Reporting Initiative (GRI) standards.
- Includes American Exploration and Production Council (AXPC) ESG Metrics Framework.
CEO Letter
- Ascent’s growth and success amidst industry challenges.
- Commitment to EHS performance and sustainability.
- Highlights: top-decile safety performance, low GHG and methane intensity, water reuse, and positive societal impact.
2023 Sustainability Highlights
- Governance: Structured like a public company with active Board committees.
- Environmental: 0.08% leak detection rate, 77% water reuse, low GHG (463,057 mt CO2e) and methane emissions (3,470 mt CH4).
- Social: Over 2,000 volunteer hours, significant economic impact, and philanthropic contributions.
- Workforce: 48% women at corporate HQ, 20% women in senior leadership.
Governance
- 12-member Board of Managers with audit, ESR, and compensation committees.
- High standards of integrity, accountability, and transparency.
- Ethics & Compliance: Code of Business Conduct and Ethics, regular training, and a third-party managed ethics hotline.
- Risk Management: Proactive identification and mitigation of risks, strong focus on cybersecurity.
Environmental Stewardship
- Air: Rigorous emissions management and monitoring, no routine flaring, comprehensive LDAR program.
- Water: Protecting freshwater resources, high rate of water reuse, spill prevention and reporting.
- Land: Minimized land development, biodiversity, and historical preservation efforts.
- Waste Management: Stringent policies and industry best practices.
Health & Safety
- Comprehensive training programs for employees and contractors.
- Focus on safe driving, emergency preparedness, and incident investigation.
- 2023 TRIR: 0.64, zero employee-involved incidents.
Social Responsibility
- Strong company culture with high employee satisfaction.
- Community engagement: Charitable contributions, volunteer work, support for local economies.
- Talent management: Recruitment, retention, training, and development programs.
Performance Metrics
- Detailed reporting on EHS performance, emissions, water use, and social impact.
- Consistent efforts to improve sustainability practices and outcomes.
Ascent Resources’ 2023 Sustainability Report demonstrates the company’s unwavering commitment to environmental stewardship, social responsibility, and principled governance. Despite the challenges faced by the industry, Ascent has made significant progress in reducing emissions, conserving water, and fostering a strong corporate culture. The company’s dedication to integrating EHS best practices into every aspect of its operations underscores its role as a responsible and innovative leader in the natural gas and oil industry.
Through proactive engagement with stakeholders, continuous improvement in sustainability practices, and adherence to rigorous regulatory standards, Ascent Resources remains focused on delivering affordable, reliable, and cleaner energy. The achievements highlighted in this report are a testament to the hard work and dedication of Ascent’s employees, partners, and community.
Looking ahead, Ascent will continue to strive for excellence, seeking new opportunities to enhance its sustainability efforts and positively impact the environment and society. The company’s forward-looking approach ensures that it remains well-positioned to meet the evolving needs of the modern world while maintaining its core values of integrity, safety, and innovation.
