Environmental
Our targets & objectives
- Reduce our net equity emissions by 50% by 2030, in line with the North Sea Transition Deal targets
- Reach OGMP 2.0 Gold Standard status by 2028
- Execute significant emission reduction projects and continually assess the suitability of our Emissions Reduction Action Plans
- Achieve Zero Routine Flaring (ZRF) across our operated assets by 2030
- Centralise environmental data collection post Business Combination
Carbon emissions
The energy transition presents a significant challenge for the industry, and we are strategically positioning ourselves to maintain one of the lowest carbon emissions portfolios in the UK North Sea. We plan to achieve this through immediate, impactful actions, including projects aimed at reducing emissions from current operations and ensuring the efficient decommissioning of high intensity assets at the end of their lifecycle.
Methane emissions
During 2024, Ithaca Energy signed the United Nations Environment Programme Oil and Gas Methane Partnership 2.0 memorandum of understanding. We further developed our methane action plan to align with the OGMP framework, setting out a staged methane mitigation approach, focusing on each source and their materiality, and set our baseline year for reporting.
Water, spills and waste
We take a proactive approach to managing environmental aspects by systematically identifying, monitoring, and reducing environmental impact. We regularly assess our operations, set measurable environmental objectives, and engage employees in environmental awareness and initiatives.
Through this structured approach, Ithaca Energy strives to minimise waste, reduce emissions, and promote environmental stewardship while achieving business goals.
TCFD disclosures
Ithaca Energy plc is required to describe its compliance with the Task Force on Climate-related Financial Disclosures (TCFD). You can find it in our Annual Report and Accounts.