Hess 2014 Annual Report Download - page 12
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10
Hess sponsored school, Equatorial Guinea
and climate solutions. Hess will continue to do its part
to monitor, measure and take steps to develop resources
in an environmentally responsible manner.
Since 2008, we have reduced our greenhouse gas
footprint by four million tonnes through improved
operating practices and asset divestitures. Since 2008
we have reduced our aring in Algeria by 95%. We are
also on target to reduce our aring rate at the wellhead
in North Dakota to 10% by 2017, possibly earlier,
depending on the timely completion of infrastructure
projects, many of which are subject to obtaining permits
and rights of way. Since 2012 we have factored in the
cost of carbon in evaluating new projects over $50
million and have now integrated this assessment as
part of annual asset value assurance reviews. This
analysis enables us to understand and address potential
regulatory risks and promote more carbon efcient
choices for equipment investment decisions.
In 2014 the Company continued engagement in a
number of multi-stakeholder initiatives designed to
advance transparency, environmental protection, human
rights and good governance. We presented on our
progress in implementing our human rights policies at
the annual plenary meeting of the Voluntary Principles
on Security and Human Rights. We began work on
a high level human rights risk assessment at one
asset and conducted two security and human rights
workshops. Hess continues to be actively involved in
the United Nations Global Compact (UNGC) and serves
on the Board of the US UNGC Network which shares
best practices in sustainable business conduct across
the private sector. Hess was also added to the United
Nations Global Compact 100 index.
We recognize the important role stakeholders play in
our access to resources and our license to operate.
We have strengthened our approach to stakeholder
engagement and are deepening our understanding of