SustainabilityDedicated to Environmental
Stewardship
Our Commitment
At Civitas, we prioritize both our financial and sustainability performance, recognizing that they aren’t competing interests. Our commitment to sustainability is a value creator and challenges us to seek continuous innovation and reject the status quo. We see every day as an opportunity for continuous improvement as we work to produce more responsible energy for the benefit and prosperity of consumers and our communities. Our sustainability program is designed to help the company manage key risks related to health, safety, reputation, regulatory, legal, social, environmental, and local impacts.
Civitas has embraced a lower carbon future since our company’s founding. We were the first operator in Colorado to be carbon neutral, and we’re committed to reducing Scope 1 GHG emissions by 40% from our 2023 baseline by 2030. We’ve already made strategic operational upgrades to reduce our emissions and we continue to examine new ways to support global climate goals.
We have a proven track record of bringing acquired assets up to our high operating standards. This commitment includes driving acquired assets to carbon neutrality starting the January after the first full year of operational control. Moreover, Civitas is constantly evaluating new opportunities to reduce or eliminate operational emissions through various emissions reduction projects including the use of grid electricity where possible, retrofitting legacy facilities and pneumatic devices, utilizing tankless or closed-loop production facilities, plugging inactive or legacy vertical wells and robust inspection, leak detection and repair protocols. We see our role as providing responsibly produced and affordable energy to the market.
Carbon Neutrality and Emissions Reduction Strategy
Establish climate-related goals and measure progress
Reduce emissions in support of reduction targets
Offset residual Scope 1 and Scope 2 emissions through the purchase of certified carbon credits and renewable energy certificates.
Target
Scope 1 emissions reduction ↓40%
→ Reduce absolute scope 1 GHG emissions by 40% by 2030
Baseline: 2023 EPA Subpart W (-1,920,000 mT CO2e)
2023 Performance
New Goal
inclusive of Permian BU*
Target
Rockies BU emissions intensity reduction ↓25%
→ Reduce corporate Scope 1 GHG emissions intensity by a fixed 2.5% annually (averaged over a 10-year period)
Baseline: 2019 EPA Subpart W (17.3 mT Co2e/MBOE)
2023 Performance
Achieved ↓41%
reduction 2019 to 2023
Target
Carbon neutrality — Remain carbon neutral
→ Maintain Scope 1 and Scope 2 carbon neutrality, offsetting residual Scope 1 and 2 GHG emissions with certified carbon credits and Green-e Certified renewable energy certifications (RECs)
2023 Performance
Maintained
in Rockies BU
Established
pathway in Permian BU*
Target
Safety performance — 0.25
→ Achieved a combined Total Recordable Incident Rate (TRIR) below 0.25 (2023 working year)
Perform in the top quartile of our peer group (2024)
2023 Performance
↓0.23%
Combined TRIR
*Starting January after one calendar year of operational control
Clean Energy Future
We are taking responsibility for our role in a clean energy future. Guided by our values of integrity and innovation, we are actively reducing our carbon emissions through industry-leading practices.
Sustainable Energy Development
At Civitas, a sustainable future begins with respect — respect for the natural resources that are at the foundation of our operations; respect for the safety and well-being of our employees and contractors; and respect for the health and vitality of our communities. We translate this respect into action, working every day to responsibly produce safe, affordable, and reliable energy with a reduced environmental footprint. It’s not only the right thing to do, but also a market advantage as we transition into a lower carbon future. We can be both profitable and purposeful, sustainably developing the energy needed to maintain and improve quality of life.
Social: Building Stronger Communities
Civitas stands on a rich history of community support and collaboration and we’re continuing to strengthen our relationships with neighbors every day. We don’t succeed unless we all succeed, and one of our first major initiatives, the Civitas Community Foundation, was created in that spirit. Through the foundation, we provide community project grants and scholarships with special dispensation for those community members closest to our operations. Through the Civitas Community Foundation, we are proud to invest in the communities where we operate.
Governance: Leading by Example
We’re a company built on a foundation of consolidation, working to bring assets up to our high standards of operational and sustainability performance. These standards of excellence start at the top with our Board and executive leadership team taking an active role in overseeing our business to maximize long-term value. Their commitment to strong governance is demonstrated through oversight and accountability — layered with transparency and accessibility to our various stakeholders. Civitas’ leadership is actively delivering on a new E&P business model focused on delivering value, returning cash to stakeholders, maintaining a strong balance sheet, and creating a peer-leading sustainability platform.
