Archrock Inc. (Archrock) announced the publication of its 2021 Sustainability Report, detailing progress on and commitments to enhancing its ESG performance. The report is based on 2021 data and includes certain achievements made year to-date in 2022. Archrock’s 2021 Sustainability Report has been prepared in accordance with the Sustainability Accounting Standards Board (SASB).
“We are proud to publish our 2021 Sustainability Report as we advance our ESG journey for the benefit of our customers, employees, shareholders, communities, and the environment,” said Brad Childers, Archrock’s president and chief executive officer. “Rooted in strong corporate governance practices, this journey began four years ago and has rapidly expanded into a commitment to integrate sustainability into all aspects of our business. I’m particularly excited about our recent efforts to develop solutions to help our customers decarbonize, from lower-emitting and electric motor drive compression horsepower to continuous methane emissions detection and management through our investment in and partnership with ECOTEC. These opportunities further solidify our commitment to and support of the role we expect natural gas will continue to play as an environmentally, economically, and strategically sound energy source for America and the world. Moving forward, and indicative of our sustainability focus, we’ve set quantitative, meaningful ESG goals to align organizational priorities. In 2022, we have increased the weight of safety and sustainability within our short-term incentive plan to 20%. The metric includes targets for safety performance, the development of a comprehensive diversity and inclusion policy, and a performance metric for reductions in miles driven by our field service technicians, which we expect to positively impact our Scope 1 emissions.”
Archrock 2021 Report Highlights:
- Achieved record safety performance during 2021, with a total recordable incident rate of 0.10, six times better than the 2021 Gas Compression Association average of 0.63.
- Invested nearly US$50 million in a digital transformation over three years, capped by the achievement of several important technology milestones in 2021.
- Charged Archrock’s New Ventures team with evaluating and pursuing complementary business opportunities to help customers decarbonize.
- Using a consistent methodology, achieved an 11% year-over-year reduction in 2021 Scope 1 and Scope 2 carbon dioxide (CO2) emissions intensity.
- Using a consistent methodology, reduced estimated NOx emissions by 37% on a per horsepower basis since 2017.
- Reduced facility footprint by 9% since 2019.
Archrock 2022 Initiatives:
- Significant investment in electric drive compression horsepower.
- Based on an in-depth review conducted in 2021, adopt a diversity and inclusion policy to serve as a foundation for a comprehensive program.
- Implemented a Supplier Code of Conduct.
Acquire a 25% equity stake in ECOTEC, which provides methane emissions monitoring.
