Working responsibly

Our Net Zero pathway

We are conscious of the need to set out our net zero pathway more clearly for our stakeholders, and to demonstrate real strategic progress in meeting those targets.

In doing so we must nevertheless be transparent that this is a journey that cannot be completed overnight, and requires us to assure all our stakeholders, including investors, that we as a business can successfully position ourselves through the energy transition, while continuing to deliver attractive returns and sustainable assets.

We set out our updated net zero pathway in September 2022 which commits to reducing Scope 1 and 2 CO2 emissions by 15% by 2025, 30% by 2030 and entirely by 2040 or earlier. The clear principles underpinning these targets are: Avoid, Reduce, Substitute, Sequester and Offset.

Our Net Zero pathway
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Case Study

Our social contribution in Suriname 2023

With the implementation of this plan, Capricorn kept the emissions from drilling operations to a minimum. The plan detailed how we use energy efficiency and emissions as a differentiating factor in our contractor selection, how we designed the project to minimise the environmental impact in the event of a discovery and how we selected a drilling rig equipped with specialist NO x reducing units in its engines along with a suite of other emissions reduction strategies.

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Our approach and presentation of our emissions reduction plan was highly commended during our drilling permit application process. Capricorn continues to look for new ways to reduce our emissions footprint and we shall be implementing similar emissions reduction plans in future operations.

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