KazMunayGas Discloses Climate Data to Investors
On 29 July, JSC NC “KazMunayGas” (KMG) published its voluntary reporting for 2021 on greenhouse gas emissions and water management as part of the global climate initiative called the Carbon Disclosure Project.
Improving international climate reporting is one of the priorities of approved KMG’s 2022–2031 Low-Carbon Development Programme. KazMunayGas voluntarily discloses data on direct and indirect greenhouse gas emissions and water footprint for all assets, makes independent verification, and shares information with the international community on the corporate climate change and water conservation strategy, the effectiveness of greenhouse gas and water management, key risks and opportunities.
KMG has formally announced its intention to introduce reporting on climate-related financial disclosures based on the principles of TCFD (Task Force on Climate-Related Financial Disclosures), with a focus on the assessment of climate risks and their financial impact on the company’s business. KMG also intends to develop the internal carbon‑pricing concept in order to create incentives and facilitate investment decisions.
This will support the sustainability reporting and implementation of ESG principles. Broad availability of environmental information and transparency of the Company’s environmental activities to the public, shareholders, concerned government authorities and other parties is one of the tenets of the Company’s Environmental Policy and KMG’s Sustainable Development Policy.
By disclosing its policies and efforts aimed at greenhouse gas emission reduction and sustainable water management, the Company declares its openness and conduct of business based not only on the principles of economic viability, but also on sustainable development requirements and commitment to meet the goals of the Paris Agreement.
To see CDP questionnaires, go to https://www.kmg.kz/eng/investoram/reporting-and-financial-result/.
About JSC National Company “KazMunayGas”
JSC “National Company “KazMunayGas” is a leading vertically integrated oil and gas company in Kazakhstan. KMG manages assets across the entire production cycle from exploration and production of hydrocarbons to transportation, refining and provision of dedicated services. Founded in 2002, the Company represents Kazakhstan’s interests in the national oil and gas industry.
About the Carbon Disclosure Project
The Carbon Disclosure Project (CDP), which has been in existence since 2000, has become the gold standard for greenhouse gas emission disclosure method and process. It is the most important source of climate change data for the global market. CDP’s electronic carbon reporting database is the world’s largest register of the most comprehensive information on corporate greenhouse gas (GHG) emissions and corporate climate change strategies that investors use when making investment decisions. CDP is made up of more than 700 investors with more than $130 trillion in assets.