Birchcliff Energy Ltd (OTCPink: BIREF) finished the previous session up 9.12% to $3.9500. Compared with its average weekly volume of 733.20K, the Birchcliff stock volume was 3.29M. After the release of its ESG report, BIREF stock took off.
What did BIREF’s ESG report say?
Birchcliff is an intermediate oil and natural gas company based in Calgary, Alberta, with operations concentrated in the Peace River Arch of Alberta.
Birchcliff this month released its ESG Report for 2020. For the year ended December 31, 2020, the report outlines BIREF’s environmental, social, and governance (“ESG”) activities. BIREF is committed to ensuring it remains a leader in all aspects of environmental, social, and governance performance.
The BIREF continued to expand its focus on improving emissions performance and protecting the environment, cultivating and strengthening relationships with the local communities, and advancing a deeply embedded culture of health and safety excellence in the year 2020.
Low-intensity emitter of greenhouse gases
With 0.00129 tonnes of carbon dioxide equivalent per barrel of oil equivalent, BIREF has continued to be one of the lowest greenhouse gas (GHG) emitters in Canada’s oil and natural gas industry, a reduction of approximately 44% when compared to its peers.
BIREF continues to take steps to reduce its carbon footprint across all areas of its operations, including through its Methane Reduction and Retrofit Compliance Plan, its Fugitive Emissions Management Program, its carbon sequestration activities, and its focus on innovation to streamline its drilling and completion processes.
Since BIREF has one of the lowest total GHG emissions among its peers and is devoted to its ongoing efforts to further reduce its emission intensity, it is labeled as a Low Emission Intensity Producer (LEIP).
Best Health, Safety, and Environment Management
BIREF awarded by Canadian Occupational Safety magazine in 2020 in the categories “Best Health, Safety, and Environment Management Program” followed by “Canada’s Safest Oil and Gas Employer” as well as “The WSIB award for Canada’s Best Health and Safety Culture.”.
BIREF is a partner in the Natural Gas Innovation Fund (“NGIF”) with two subsidiaries: NGIF Industry Grants and NGIF Cleantech Ventures Equity Fund. By investing in and supporting early-stage clean technology companies that develop technologies for reducing emissions, increasing energy efficiency, and utilizing natural gas for environmental goals in Canada, these subsidiary companies help the government achieve long-term environmental goals.
Briechcliff (BIREF)’s successful relationships with the Indigenous communities in its service areas are built on trust. With years of collaborative and constructive work, BIREF has invested significant time and resources in building strong, longlasting partnerships with Indigenous groups.