Sustainability atBuru
Buru is committed to ensuring the wellbeing of our people, the communities we engage with and the environments we operate in. The establishment of a Sustainability Report in 2021 formalised this commitment, and in 2022 we continued to build and refine our Environmental, Social, and Governance (ESG) efforts.
Structured Approach for Determining Materiality
Each reporting period, Buru completes a material mapping exercise to review and determine its most material ESG topics, as outlined in the GRI reporting requirements. Buru is committed to ensuring the perspective of both internal and external stakeholders is captured during the materiality assessment. This period, Buru implemented significant additional steps to ensure this, such as conducting employee ESG surveys and incorporating direct feedback from the public, into step 2 outlined below.
2022 Material Topics Identified
The materiality assessment resulted in eight topics which form the basis of this report. The topic metrics have been informed, wherever possible, by the guidance provided in GRI 11 Oil and Gas Sector Standard. Additionally, the IPIECA Oil & Gas – Sustainability Reporting Guidance was used where GRI was not relevant or appropriate for Buru’s ESG data. Since the last reporting period, two material topics changed as a result of changes to Buru’s business model and strategy:
As a result of an increased operational focus on decommissioning and rehabilitation operations at Blina Oilfield this reporting period, Closure and Rehabilitation is now a material topic. This was largely due to increased external interest from industry, media and regulators this period.
While Biodiversity was not scored as a material topic for this reporting period, it is still being monitored closely (see Biodiversity Case Study on page 33).
Buru’s 2023 Sustainability Framework
Buru’s Sustainability Framework was developed in a consultative manner and included consideration of the United Nations Sustainable Development Goals (SDGs) and the IPIECA SDG Roadmap for the Oil and Gas Sector. Table 2 illustrates the framework and how the goals for each material topic align with the UN SDGs.
Buru’s 2022 ESG Performance Overview
Buru’s performance against goals during the reporting period are summarised in Table 3 and more detailed disclosures are made in subsequent sections.