HitecVision releases ESG report and announces energy transition strategy
HitecVision has today released its ESG report for 2019, and also announced its strategy for the transition to a low-carbon economy.
As a specialist investor in the energy industry, HitecVision has a strong focus on the coming transition of the world’s energy systems towards a low-carbon future. The transition is expected to provide significant investment opportunities, and HitecVision has previously announced that it is preparing to expand its investment universe beyond its traditional oil and gas remit to take this into account. At the same time, the change will be gradual, and oil and gas will be part of the energy picture for decades to come, with continuing opportunities both for current portfolio companies and for new investments.
In order to quantify the company’s ambitions and help it steer a course through the transition, HitecVision has developed a low-carbon transition strategy. The overall target is to achieve a net zero climate footprint from HitecVision’s own operations from 2020 and from the portfolio as a whole by 2030. The strategy has five key elements, where the first two address HitecVision’s own operations, while the next three provide ambitions for the portfolio.
In addition to further details of the transition strategy, HitecVision’s ESG report contains information on our approach to responsible investing; general information on ESG in the oil and gas industry; a comprehensive discussion of the energy transition; detailed information on the ESG status and progress of every portfolio company; and key performance indicators for the portfolio as a whole. For the first time, we also include detailed information on each company’s carbon footprint.
The full ESG report can be downloaded from the company’s web site here.