Archrock Publishes its 2022 Annual Sustainability Report
07 Mars 2023 - 11:34PM
Archrock, Inc. (NYSE:AROC) (“Archrock” or the “Company”) today
announced the publication of its 2022 Sustainability Report,
detailing progress and continued commitment to the Company’s
environmental, social and governance (ESG) performance. The report
is based on 2022 data and also includes certain achievements made
year-to-date in 2023, underscoring the Company’s culture of
continuous improvement.
“We are excited to publish our 2022
Sustainability Report as Archrock continues to advance its ESG
initiatives for our employees, customers, shareholders and
communities,” said Brad Childers, Archrock’s President and Chief
Executive Officer. “This sustainability report reflects our
commitment to aligning our corporate strategy with our purpose to
power a cleaner America. This includes maintaining robust
governance practices and integrating quantifiable ESG goals into
our compensation plans, connecting our employees’ actions to our
pursuit of a sustainable future.”
“As the leader in U.S. natural gas compression,
we remain dedicated to our critical role in transporting affordable
and cleaner energy for the benefit of America and the world, and to
continue doing so in a safe and environmentally responsible way. We
are high-grading our asset base, harnessing our upgraded technology
platform and prioritizing opportunities to help our customers with
emissions management. Our sustainability report further details
these initiatives as well as other ESG efforts that we believe are
essential to delivering long-term value for our stakeholders,”
concluded Childers.
2022 Sustainability Report
Highlights
- Exceeded safety targets for Total
Recordable Incident Rate and Preventable Vehicle Incident Rate, and
delivered a zero Lost Time Incident Rate.
- Achieved a 12% year-over-year reduction in 2021 Scope 1 and
Scope 2 CO2 emissions intensity.
- Invested in electric drive compression horsepower, secured a
minority investment in a methane emissions monitoring company and
developed a patent-pending methane capture technology.
- Developed and adopted a comprehensive diversity and inclusion
policy.
- Compared to 2021, doubled the weight of safety and
sustainability within our 2022 short-term incentive plan to
20%.
Archrock’s 2022 Sustainability Report continues
to align with the Sustainability Accounting Standards Board (SASB)
midstream reporting framework. For the first time, the report also
includes disclosures based on the Task Force on Climate-related
Disclosures (TCFD) framework.
About Archrock
Archrock is an energy infrastructure
company with a primary focus on midstream natural gas compression
and a commitment to helping its customers produce, compress
and transport natural gas in a safe and environmentally responsible
way. Headquartered in Houston, Texas, Archrock is the
leading provider of natural gas compression services to customers
in the energy industry throughout the U.S. and a leading
supplier of aftermarket services to customers that own compression
equipment. To learn more about Archrock’s sustainability efforts
and for more information on how Archrock embodies its purpose, WE
POWER A CLEANER AMERICATM, visit www.archrock.com.
Forward-Looking Statements
All statements in this release (and oral
statements made regarding the subjects of this release) other than
historical facts are forward–looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties and factors that could cause actual results to differ
materially from such statements, many of which are outside the
control of Archrock, Inc. Forward-looking information includes, but
is not limited to statements regarding: Archrock’s or its
management’s intentions, beliefs, expectations or predictions for
the future related to Archrock’s ESG initiatives and potential
benefits thereof; Archrock’s expectations regarding future
economic, geopolitical and market conditions and trends; Archrock’s
operational and financial strategies, including planned growth,
coverage and leverage reduction strategies, Archrock’s ability to
successfully effect those strategies and the expected results
therefrom; Archrock’s development and deployment of new
technologies and the expected results therefrom; Archrock’s
financial and operational outlook; demand and growth opportunities
for Archrock’s services; structural and process improvement
initiatives, the expected timing thereof, Archrock’s ability to
successfully effect those initiatives and the expected results
therefrom; the operational and financial synergies provided by
Archrock’s size; Archrock’s ability to integrate new products and
services into its business and offer them to its customers.
While Archrock believes that the assumptions
concerning future events are reasonable, it cautions that there are
inherent difficulties in predicting certain important factors that
could impact the future performance or results of its business. The
factors that could cause results to differ materially from those
indicated by such forward-looking statements include, but are not
limited to: challenges, assumptions, and methodological
considerations associated with Archrock’s various ESG aspirations
and efforts; conditions in the oil and gas industry, including a
sustained decrease in the level of supply or demand for oil or
natural gas or a sustained decrease in the price of oil or natural
gas; changes in economic conditions in key operating markets;
impacts of world events; the financial condition of Archrock’s
customers; the failure of any customer to perform its contractual
obligations; changes in safety, health, environmental and other
regulations; and the effectiveness of Archrock’s control
environment, including the identification of control
deficiencies.
These forward-looking statements are also affected by the risk
factors, forward-looking statements and challenges and
uncertainties described in Archrock’s Annual Report on Form 10-K
for the year ended December 31, 2022 and those set forth from time
to time in Archrock’s filings with the Securities and Exchange
Commission, which are available at www.archrock.com. Except as
required by law, Archrock expressly disclaims any intention or
obligation to revise or update any forward-looking statements
whether as a result of new information, future events or
otherwise.
For information, contact:
Megan RepineVice President, Investor
Relations(281) 836-8360investor.relations@archrock.com
Archrock (NYSE:AROC)
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