ESG POLICY

Mime Petroleum is fully committed to a fair and sustainable future. This Mime Petroleum policy states Mimes commitments within the areas of environment, social and governance.

ENVIRONMENTAL

Mime is committed to identifying significant environmental aspects and reducing any environmental impact Mime Petroleum may create.

Norway is a leader in low emissions production. The NCS average carbon intensity (~7-8 kg CO2e/boe)[1] is half of world average[2]

Mime acknowledge that global climate change is influenced by human impact. Mime is committed to the CO2 emissions reduction targets[3] from production on the NCS, announced by Offshore Norge through the Konkraft industry cooperation:

    • 50% reduction by 2030
    • 70% reduction by 2040
    • Net zero by 2050

The company has put in place actions to reach these targets, such as:

    • The refurbishment of Jotun FPSO include preparation to import power from shore or offshore wind
    • Reducing environmental footprint on Balder Future by re-using existing infrastructure
    • Energy management and reduced flaring
    • Implement and promote new, low-carbon technologies in operations and business activities

SOCIAL

  • Safety for employees, contractors and other stakeholders is the top priority for Mime
  • Mission to build a long-term and sustainable business through a risk-based management approach in all planning, execution and monitoring activities
  • Strong stakeholder focus in our decision making, with balance towards shareholders, employees and the Norwegian society
  • Core of Mime’s strategy is to maximise resource recovery and value creation from our fields in line with Norwegian Authorities’ expectations
  • Mime respects the Bill of Human Rights and the ILO conventions setting respectable labour standards and decent work for woman and men. This includes living wages in our associated operations and no acceptance of child labour. Mime will ensure that the principles are respected though risk based due diligence of our vendors and business partners.
  • Commitment to develop competence in our organization and together with our partners
  • Mime will facilitate for collective bargaining
  • Integrated with Mime core values – teamwork, knowledge, integrity and ownership, Mime embrace diversity and inclusion.

GOVERNANCE

  • Determined to adhere to high standards of governance, business conduct and corporate social responsibility
  • Ensuring full compliance with all statutory laws and regulations as well as best industry practice in all our activities
  • Diversified board of directors with employee and independent representation
  • Utmost focus on anti-corruption, anti-bribery, and transparent reporting

[1] Source: NOROG Environmental Report 2019

[2] Source: IOGP Environmental Performance Indicators report (October 2018)

[3] Baseline year 2005