“As global demand for natural gas continues to rise and the energy landscape transforms, Canadian natural gas stands ready to play a crucial role in the years ahead.”
Michael Rose
President, Chief Executive Officer & Chairman
- 12%
reduction in scope 1 emissions intensity since 2018 while nearly doubling production
Reducing Emission Intensity
- 140,000 mmbtu/d
delivered to supply LNG internationally — the equivalent of 1 LNG cargo per month
Expanding our Markets
- 166 million
litres of diesel displaced in our operations to date
Innovating with Technology
- $38 million
invested in environmental performance improvement initiatives in 2023
Investing in EPI
- 27%
reduction in methane emission intensity since 2020
Reducing Methane Emissions
- Top 10%
Platinum Rating in pilot project on 60 NEBC wells ranked in North America
Top Performing Producer
We are Canada’s largest natural gas producer.
From our operations in British Columbia and Alberta, we are proud to send our natural gas across Canada, into the United States, and to international markets. Tourmaline sells its natural gas in Canada to British Columbia, Alberta and Ontario; within the United States to the West Coast and the Midwest; and at the start of 2023, we became the first Canadian producer to supply natural gas to Asian and European markets.
We focus on providing value for our stakeholders in many ways. We are committed to responsibly developing natural gas, fostering a technically strong and passionate work force, continuously improving our environmental performance, and creating strong relationships in the communities we call home.
ESG Overview
Tourmaline is proud to responsibly produce Canada’s world-class natural gas assets. We strive to continuously improve all aspects of our environmental performance, including the impact of our operations on air, water and land. To support our progress, we focus on technologies and innovative strategies that minimize our environmental footprint.
Environment
We are proud to invest in our team and the communities we call home. Whether we’re implementing our robust health-and-safety program, investing in community initiatives, or fostering our relationships with Indigenous peoples, at Tourmaline we prioritize people.
Social
Tourmaline’s Management and Board of Directors are committed to high standards of corporate governance. We believe that strong corporate governance is a key driver in long-term value creation for all stakeholders.
Governance
- Largest
natural gas producer in Canada
Industry Leader
- 77%
of our production is natural gas
Responsible Senior Producer
- Largest
Tier 1 natural gas inventory holder in North America
Significant Resource Owner
We are pursuing our ESG strategy based on the following pillars:
High-Quality Reserves with Low-Supply Costs
Having vast high-quality, long-life reserves inventory and a low-cost structure allows Tourmaline to profitably provide low-cost and lower-emission natural gas to the world.
Environmental Excellence
We strive to continuously improve our environmental performance, reducing our impacts on air, land and water.
Investment in Innovation
The innovative application of technology is at the heart of everything we do. It’s the force that fuels continuous improvement in our ESG performance and enables us to reduce costs.
Market Diversification
We have diversified our natural gas markets to access multiple sales locations across North America and internationally, ensuring we receive the best pricing available in many locations for our products while reinforcing the stability of our business model.
Financial Sustainability
To provide low-cost natural gas to the world, we maintain a conservative leverage profile. This allows Tourmaline to successfully navigate volatile commodity cycles.
Stakeholder Engagement
We continuously engage and listen to our stakeholders helping us to better ensure mutually beneficial outcomes for everyone involved.
Tourmaline’s success is built on developing strong relationships with our stakeholders through active dialogue and positive actions.
Shareholders & Lenders
Suppliers & Contractors
Communities
Indigenous Communities
Employees
Government & Regulatory Bodies
Our Approach to Sustainability Reporting
This report details our ESG performance for all businesses, assets, and partnerships that are owned and operated by Tourmaline for the period between January 1 to December 31, 2023, and includes reference to certain actions Tourmaline undertook in both 2023 and 2024. Tourmaline successfully acquired Bonavista on November 17, 2023, and amalgamated on January 1, 2024. The performance data included in this report is pro-rated to reflect this business combination, unless otherwise stated. We have not adjusted current targets or historical performance to reflect the impact of the Bonavista acquisition.
Scope
As an oil and gas producer, we are committed to transparent, annual reporting on our ESG performance. Within this report, we are pleased to share comprehensive information on the progress we made in 2023. We have developed our sustainability report by integrating guidance from GHG Protocol, TCFD, SASB, GRI, and the ISSB. Our GHG emissions are measured and reported using the GHG Protocol Corporate Accounting and Reporting Standard and Scope 2 Guidance.
Standards & Frameworks
We track and report relevant data that is important to our stakeholders. To ensure we are sharing high quality information based on real-time data, we are constantly improving our processes and controls for data and measurement capture capability. See Disclosures for our third-party verified reports.
Assurances
Materiality Assessment
To develop our sustainability report, we review and highlight the most relevant sustainability priorities for our business and those that matter most to our stakeholders.
Based on our assessment, we have identified the following areas as material:
- Greenhouse Gas Emissions
- Water
- Business Ethics and Transparency
- Governance
- Indigenous Peoples' Rights
- Health and Safety
- Talent Attraction, Retention and Engagement
We engage
actively with local communities to ensure we are respectful members of the community and everyone benefits from our operations.
We operate
our business in a responsible manner that respects air, land and water. We strive to ensure future generations will enjoy a better standard of living through affordable, secure energy access.
We invest
capital in responsible, emission reducing, profitable projects to deliver long-term value to our shareholders. We are strong financial stewards for our investors.
We protect
our employees with a safe and respectful work environment. Our people drive our business, and we encourage their continued outstanding performance.
We ensure
our exceptional and loyal service providers benefit from Tourmaline’s operations and receive fair compensation when working with us. We ensure high-quality information based on real-time data.
We exceed
and meet the requirements as established by regulators and the government to ensure we are the best at what we do, as is the case in all aspects of our business.
Guiding Principles
- 2.2 million
m3 of water recycled in 2023 — the equivalent of over 880 Olympic-sized swimming pools
Water Management
- 49%
reduction in TRIF rating from 2019
Health and Safety
- 37%
of our employees are female
Gender Diversity
We have set ambitious targets to guide Tourmaline’s environmental performance improvement and help our business remain resilient and profitable as the world progresses the energy transformation.
Achieve a 25% reduction in corporate emission intensity (scope 1) from 2018 reported levels by 2027.
On Track
Target
Reduce methane emission intensity by 55% from 2020 reported levels by 2027.
On Track
Target
Eliminate the use of fresh water throughout our core gas operations.
On Track
Target
ESG Highlights
All
Environment
Social
Governance