Aiming for industry-leading performance
Devon is committed to doing what’s right for the environment. We want to be a good neighbor, a trusted partner and a responsible, competitive operator as we produce oil and natural gas to help meet global demand. We believe exemplary environmental performance is essential to managing risk and developing forward-looking business opportunities, with the aim of being successful throughout and beyond the energy transition.
To continuously improve our environmental performance, Devon is proactive and results-oriented. We consider the potential impacts of our operations when planning activities and making decisions. We strive to comply with all applicable environmental laws and regulations, often going above and beyond what’s required. In the process, we incorporate technology, tools and best practices to help minimize or avoid effects on air, water, land and wildlife.
Devon seeks to work with contractors who share our commitment to environmental stewardship. Our contractors must adequately train their personnel to perform environmentally sound work and have programs to comply with applicable environmental laws, rules and regulations. Contractors as well as employees have responsibility to stop work to prevent spills or other environmental issues. Starting in 2023, contractors who perform work on Devon locations will complete annual assessments to help us evaluate their environmental, social and governance (ESG) performance in key areas.
Devon has established a track record of environmental performance improvements. To document progress on our long-standing priority to reduce our greenhouse gas (GHG) and methane emissions, we’ve responded to the CDP climate change survey for 18 consecutive years.
For almost two decades, we’ve been at the forefront of water conservation efforts in our industry, and have responded to CDP’s water survey since its inception nine years ago. Devon takes great care to preserve biodiversity and protect wildlife habitat and cultural resources in areas surrounding our operations.
Transparency is important to our stakeholders and keeps us accountable for our results. Devon tracks specific metrics for GHG and methane emissions, flaring, spills, energy use, water use and others. We’ve consistently increased our disclosures in recent years and continue to share this information in this report and other public disclosures. For additional metrics and details on our environmental practices, please refer to our Climate Change Assessment Report and CDP responses.
Reduced Scope 1 and Scope 2 location-based GHG emissions 19% and methane emissions 13% in 2021 compared to 2020.
Reduced Scope 1 and Scope 2 location-based GHG emissions intensity 19% and methane emissions intensity 16% in 2021 compared to 2020.
Reduced flare volume intensity by 36% in 2021 compared to 2020.
Issued our updated2021气候变化评估报告aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
Set ambitious targets to further reduce the carbon intensity of our operations, minimize freshwater use and engage constructively with our value chain.
Became a founding sponsor of the Gas Technology Institute (GTI) Veritas initiative that seeks to demonstrate verifiable methane emissions reductions in a consistent, credible and transparent way.
Joined the Oil & Gas Methane Partnership 2.0 (OGMP 2.0) and committed to its globally recognized, gold standard reporting framework.
Enhanced our voluntary leak detection and repair (LDAR) program by committing to survey all of our producing assets with OGI cameras annually and an advanced aerial methane screening technology semi-annually, as well an installing continuous monitoring at 20% of our production in 2022.
Used 61 million barrels of recycled water in 2021, an increase of 65% compared to 2020.
Since 2015, we have reused over 200 million barrels of water from our water treatment facilities.
Devon has a strong organization to manage environmental performance, from our board of directors to field-level environmental, health and safety (EHS) and operations teams. We’ve been bringing together our EHS and ESG core competencies and capabilities to drive alignment on our broader enterprise goals and objectives.
EHS委员会由德文郡的业务单元d operations leaders, helps protect our social license to operate and advance our culture of environmental stewardship. The council sets environmental strategy and goals, tracks performance and evaluates the effectiveness of our environmental policies, protocols and practices. To continuously improve our performance, the group reviews environmental incidents and near misses, develops corrective actions as needed and shares best practices across Devon. Council members hold regular discussions with field production leaders to update them on rapidly evolving stakeholder expectations about climate change and environmental performance.
The Devon EHS Management System, developed by the council, includes an environmental management element to drive program improvements and assessments. Our environmental professionals work closely with Devon leaders to promote and implement environmentally sound operations that comply with applicable laws, regulations and company policies.
counc长期成功,德文郡的地位il reviews emerging EHS and ESG issues, as well as proposed laws and regulations and their potential financial, operational and reputational impact on the company.
The council drives industry-leading environmental performance by developing environmental goals that are approved by the board as part of our executive compensation formula. In 2021, we set goals to reduce flaring intensity, increase voluntary leak detection and repair (LDAR) surveys and lower our spill rate. The EHS team’s post-merger priorities included integrating environmental data and protocols from our two legacy companies, which it completed in the first quarter of 2022. Full implementation of our integrated environmental policies, protocols and practices is expected by year-end 2022.
Our 2022 corporate goals include a standalone emissions reduction goal with a 15% weighting and an ESG & community engagement goal with a 15% weighting—together accounting for 30% of the company’s performance scorecard. Our corporate goals and medium- and long-term goals challenge Devon to improve our performance and hold us accountable for producing oil and natural gas in an environmentally responsible way.