Environment


BIODIVERSITY

SOCO recognises and assesses the potential impact of our activities on the environment and is committed to responsible business conduct to ensure the protection of the environment and conservation of biodiversity. SOCO’s primary policies setting out its commitment are:

  • The SOCO Code
  • Health, Safety and Environment Policy
  • Biodiversity and Conservation Policy

SOCO ensures that conservation of biodiversity is taken into account when planning its future activities in line with the SOCO HSES MS. The Biodiversity and Conservation Policy incorporates a public commitment to not operate in any UNESCO designated World Heritage Site and to ensure that activities in buffer zones around these sites do not jeopardise the outstanding universal value for which these sites are listed.

CLIMATE CHANGE

SOCO acknowledges that both oil and gas exploration and production activities and the consumption of the produced hydrocarbons lead to greenhouse gas emissions. Climate change is high on the international agenda with nations committing themselves to combating climate change, moving towards fossil fuel alternatives and planning to adjust to the consequences of global warming.

The risks to business posed by climate change are included in the Company’s risk assessment processes as an underlying factor contributing to the principal risks. The physical risks generally associated with climate change (sea level rises, extreme weather and water scarcity) are managed largely through established management processes, including the application of industry best practice. This is described further within this report and also in the Risk Management Report in the 2018 Annual Report and Accounts on pages 28 to 33.

SOCO’s primary policy addressing the physical risks to the business from climate change is:

  • Health, Safety and Environment Policy

2017 outcomes

The SOCO HSES MS was implemented throughout its activities. No management system failure was reported during 2017. The Company continued to collect all greenhouse gas emissions data on a monthly basis (described further in the following section of this report) and intends to maintain its relatively low impact on the environment through regular monitoring, training and awareness raising and responsive action.

 
 
 
 
 
 
 
 

SOCO is aware of attempts to impersonate the company on social media. SOCO does not have a Facebook page.