VAALCO Energy, Inc. is an independent energy company with production, development and exploration assets in Africa and Canada. Buchanan’s ESG team provides ongoing advisory to VAALCO on sustainability management and reporting.
In 2023, we developed a materiality framework for the business, informed by internationally recognised ESG standards, in order to capture the risk and opportunity universe for the enlarged Group. The resulting materiality register is the product of a robust process which engaged a complete cross section of the Group and enables enhanced oversight of and reporting on their most material issues.
Buchanan was also tasked with creating and delivering VAALCO’s 2023 Sustainability Report. Crucially, the report has greatly expanded upon the disclosure for each individual operating location, representing the transition from a single operating entity to a Group with assets across multiple jurisdictions.
The report includes forecasting VAALCO’s exposure climate-related legislative risk and presents the most detailed Task Force on Climate-related Financial Disclosures (TCFD) reporting to date. This reflects our work to significantly step up the business’ understanding on climate change-related risks and opportunities.
Buchanan’s ESG and Design teams worked closely with individuals from across the Group to deliver this report in order to demonstrate VAALCO’s strong commitment to achieving operational excellence in all regions.
Click here to read the report.
Commenting on our relationship with VAALCO, Jim said, “A company could not ask for a better partner in navigating its sustainability journey than the team at Buchanan. They have very deep knowledge of reporting frameworks and regulatory requirements, clearly understand the complexities of large global energy companies, exhibit strong creative skills, pay attention to important details, and advise how best to transparently communicate changing situations. Their insights reflect the reality that the financial community remains a main audience for data on corporate sustainability performance and they give counsel to ensure the focus is on how sustainability is adding value.”
Jim Schwartz, Director of Sustainability and Regulatory Compliance, VAALCO