Task force on climate-related financial disclosures ('TCFD')
The Group welcomes the initiative for increased governance and transparency in general, and specifically in relation to climate change.
The Group welcomes initiatives for increased governance and transparency in general, and specifically in relation to climate change. The Board recognises the societal and investor focus on climate change, and the desire to understand potential impacts on the oil and gas industry through improved disclosure, such as those recommended by the Task Force on Climate-related Financial Disclosures (‘TCFD’). EnQuest PLC has complied with the recommendations of LR 9.8.6R by including climate-related financial disclosures consistent with the TCFD recommendations except in relation to the disclosure of Scope 3 emissions within the metrics and targets section given the uncertainty and impracticality in accurately measuring such emissions throughout the value chain. However, this is being considered as part of the Group's Continuous Improvement Plan ('CIP') with alignment to the United Nations-adopted Sustainable Development Goal 12, Responsible Consumption & Production. Until such time as this work is complete, the Group will remain non-compliant in this respect.