FAR Limited is committed to achieving excellence in managing environmental, safety, health and social performance in all work places, activities and operations. It is acknowledged that, to be most effective and to achieve long term success, this should become part of the culture of the organisation, embedded into FAR’s philosophy, practices and business processes.
Climate Change
FAR shares the concerns of our stakeholders including the governments, our investors and the public in the countries in which we operate about climate change and recognises that the use of fossil fuels to meet the world’s energy needs contributes to the rising concentration of greenhouse gases in the Earth’s atmosphere. As an oil and gas company, FAR has a responsibility to support national emissions reduction initiatives, a responsibility that rests with FAR, FAR employees, contractors and JV partners engaged in activities under FAR’s control. FAR supports governments in their efforts to take action on climate change whilst maintaining a secure, affordable energy supply during a transition to a lower emissions future.
Our climate change policy endeavours to prepare our company for sustainable growth and success in a world challenged to reduce greenhouse gas emissions. In supporting our efforts reduce these emissions, FAR undertakes prudent, practical and cost-effective actions to:
Use the most energy-efficient products
Use alternative, low emissions technologies
Support stakeholders in their efforts to reduce their greenhouse gas emissions
Regularly review opportunities to improve our energy efficiency
Use technology such as video conferencing to reduce air travel
Encourage climate change considerations in our procurement and supply chains
Retain its membership of the Australian Petroleum Production and Exploration Association (APPEA) and support their climate change initiatives
Seek alternatives to flaring and venting hydrocarbons from exploration and future production wells
The board and management of FAR regularly assess the risks and opportunities presented to the company as a result of a global move away from fossil fuels for its key source of power, fuel, plastics and other goods.
FAR Price at posting:
5.6¢ Sentiment: Hold Disclosure: Held
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