EQTEC ESG Statement: Carbon Engineering for a Net Zero Future
13 January 2022
Today EQTEC is pleased to release its Environmental, Social and Governance (ESG) Statement.
The Statement sets out how the Company will build on its ESG achievements to date and incorporate a range of ESG goals into its three-year business strategy and annual business plans. The Company views realisation of these goals as fundamental to its long-term commercial success and market role.
The Statement organises its ESG goals into four strategic priorities to focus the Group, its projects, its people and its partners on accelerating progress toward realisation of global Net Zero targets.
ESG goals in the three-year business strategy:
- EQTEC focuses talent and innovation on CARBON ENGINEERING; we will innovate and deploy clean solutions for advanced biofuels and energy;
- EQTEC is dedicated to re-establishing a CLEAN WORLD; we convert the world’s waste into valuable energy and biofuels without creating dangerous pollutants or emissions. We will manage carbon for the Net Zero transition and transform waste to value;
- EQTEC supports the development of SUSTAINABLE COMMUNITIES; we engage locally, employ locally, implement locally and maintain our technology locally. We will invest in responsible partners and suppliers and engage and support local communities; and
- EQTEC commits to COMMERCIAL RESPONSIBILITY; we practice high standards of governance and management across our operations and value chain and communicate and engage openly with our stakeholders. We will build the best teams and keep them safe and grow and scale the business responsibly.
ESG goals in the 2022 business plan:
- CARBON ENGINEERING: We will develop and take to market a new syngas-to-chemicals solution;
- CLEAN WORLD: We will set out how and when we will achieve a Net Zero target for EQTEC, enabling a low-carbon future that meets or exceeds national Net Zero targets in all the jurisdictions in which we operate;
- SUSTAINABLE COMMUNITIES: We will integrate ESG considerations into our comprehensive partner qualification process to ensure our partners build sustainable communities and businesses wherever we operate, supporting them where needed; and
- COMMERCIAL RESPONSIBILITY: We will allow our people to participate in ownership of our business through granting long-term incentives (LTIs) to permanent staff and share-based payments to contractors.
The Group is establishing formal governance for ESG and integrating ESG reporting into existing Group management reporting with ESG communication aligned into its existing communication standards. A full year ESG report for 2022 will be released in Spring 2023.
David Palumbo, CEO of EQTEC, commented:
“Our ESG Statement is built on EQTEC’s unique contribution to Net Zero carbon engineering and technical innovation. Grounded in commercial responsibility, and through its talent and focus on carbon engineering, EQTEC nurtures sustainable communities toward concerted development of a clean world. EQTEC’s mission has long been intrinsically aligned into ESG and now is the time for us to accelerate our efforts to build a leadership position in ESG, for achieving Net Zero, for cleaning up and enabling communities and for building a successful and sustainable commercial business.”
Ian Pearson, Non-Executive Chairman of EQTEC, commented:
“EQTEC has long prioritised sustainable growth in its business strategy. The ESG Statement enriches our strategy by setting ambitious goals for the Group and its partners, suppliers and employees. It also makes the Company and its leadership accountable for driving progress and communicating it to our stakeholders. EQTEC is positioned to be a leading contributor to building the world’s capability to deliver Net Zero by 2050; today’s announcement outlines how the Group will make good on that role.”
Read the Statement in full HERE.