Neptune Energy receives ESG and credit rating upgrades
Published by Nicholas Woodroof,
In its latest ESG rating review from Sustainalytics, Neptune received a score of 26.1, putting it in the top 3% of all exploration and production companies rated by the organisation, with a global ranking of 5th out of 169.
Since January 2020, Neptune’s rating has improved two levels and is now one of only three E&P companies rated ‘Medium Risk’.
Neptune has also received credit rating upgrades from S&P and Fitch:
- S&P: BB- stable outlook, from BB- negative outlook;
- Fitch: BB stable, from BB negative outlook.
In its ESG rating report, Sustainalytics states Neptune’s “overall ESG-related disclosure follows best practice, signalling strong accountability to investors and the public. The company's ESG-related issues are overseen by the ESG Committee, suggesting that these are integrated in core business strategy. The company's overall management of material ESG issues is strong”.
Sustainalytics’ ESG Risk Rating measures the degree to which a company’s economic value is at risk driven by ESG factors. Their analysis is used by global investors in the development and implementation of responsible investment strategies.
Neptune launched its ESG strategy 12 months ago, setting out ambitious carbon and methane intensity targets to 2030 and support for the UN Sustainable Development Goals. In its recently published 2020 Annual Report and Accounts, Neptune set out a three-year ESG roadmap that includes emissions reductions plans in its operating countries and scaling up partnerships and investments in low-carbon technologies such as carbon capture and storage and hydrogen.
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Read the article online at: https://www.oilfieldtechnology.com/hse/06042021/neptune-energy-receives-esg-and-credit-rating-upgrades/
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