CALGARY, Alberta, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), a leading North American energy infrastructure company, today highlights the significant progress in its annual sustainability performance. The Company’s exceptional operational management and safety commitment to achieve zero harm to people, the environment and assets is foundational to these efforts. 2024 marked the Company’s latest safety leadership milestone by recording 8.8 million hours without a lost time injury for its employee and contract workforce.
“Sustainable practices and operational safety will always be embedded into our day-to-day, and I’m proud of our team reaching this latest safety milestone,” said Curtis Philippon, President and Chief Executive Officer. “Looking broadly at our sustainability commitments, to be externally recognized by key global rating agencies, including the A- we recently received from the Climate Disclosure Project, scoring 96 out of 100 points in the Globe and Mail Board Games Governance Ranking and placing in the 97th percentile of all energy companies by the S&P Global Corporate Sustainability Assessment, reinforces the progress we made this year. Our focus will not change in 2025, we remain committed to safety, innovation, collaboration and accountability as we continue to work toward our ambitious goals.”
Gibson’s sustainability strategy is built on strong governance and strategic initiatives that focus on long-term value for our shareholders, employees, communities, Indigenous Peoples, governments, customers and suppliers.
“On behalf of the Management team, I’d also like to extend sincere thanks to our employees for their commitment to safety and our sustainability goals,” said Riley Hicks, Senior Vice President, Chief Financial Officer. “We will continue to build off this momentum, further leverage our world-class asset base and identify additional strategic growth opportunities to meet the evolving global energy demands.”
2024 Ratings:
The Company is proud to continue to rank at the top among its Canadian and US midstream peers, reaffirming its position as a global leader in sustainability.
Rating Agency
Score / Ranking
Description of Score / Ranking
MSCI ESG Risk Ratings
AAA
Gibson is one of only 10% of companies globally in the Oil & Gas Refining, Marketing, Transportation & Storage industry to receive this leadership rating
Measurement of resilience to long-term, industry material ESG risks on a relative ranking from AAA being the best to CCC being the worst
Top quartile, ranking 12th out of 215 companies and trusts in the S&P/TSX Composite Index
Received a score of 96 based on a rigorous set of governance criteria on a scale of 100 being the best to 1 being the worst, tying the Company with a peer as the highest ranked energy company
ISS Governance Quality Score
1
Denotes decile ranking score on a scale of 1 being the best to 10 being the worst, with a score of 1 indicating top 10% performance within Energy industry group
ISS Environmental Quality Score
1
ISS Social Quality Score
2
Note: ESG ratings as at February 21, 2025
Key Achievements:
Environmental and Operations Impact
Published the 2023 Sustainability Report, detailing progress toward ambitious 2025 and 2030 ESG targets, including the Net Zero by 2050 commitment for Scope 1 and 2 emissions
Gibson, in its pursuit of Mission Zero, recorded 8.8 million hours without a lost time injury for its employee and contract workforce
Successfully completed the Gateway Terminal acquisition and implemented several key mitigation strategies to safeguard marine environments
Gibson received the ‘Union Pacific Railroad Pinnacle Award’, which recognizes customers who implement release prevention protocols, corrective action plans and have zero non-accident releases of regulated hazardous materials shipments
Continued to regularly conduct Process Hazard Analysis to proactively identify, monitor and mitigate any potential impacts to operational excellence
Social Responsibility
Exceeded its 2025 target with over 24% racial and ethnic minority representation and 5% Indigenous representation in the workforce
Successfully implemented Gibson’s inaugural Indigenous Peoples Development Program and announced a partnership with the Canadian Council for Indigenous Business by participating in the PAIR program at the Committed level, both of which further embeds Indigenous Peoples culture, decision-making and business practices at all levels of the organization
Named as one of Alberta’s Top Employers and Canada’s Best Diversity Employers by the annual Canada’s Top 100 Employers Project for the third consecutive year
Maintained a best-in-class position in employee participation in our community giving program with a rate of 94%
Gibson was awarded the ‘Better Benefits Award’ from Fertility Matters Canada for its leadership position in creating a family-friendly benefit plan and also, the ‘Best Wellness Program’ at the Canada’s Safest Employers Awards
Governance and Transparency
In the Globe & Mail annual Board Games results, Gibson ranked 12th out of 215 companies, scoring 96 out of 100 points, which recognized the company’s approach to strong governance practices and tied the Company with a peer as the highest ranked energy company
Ahead of the 2025 target dates, achieved both Governance ESG targets by having 50% female representation and three racial, ethnic and or Indigenous representation on its Board of Directors
In line with the Canada’s Fighting Against Forced Labour and Child Labour in Supply Chains Act, published its inaugural Modern Slavery Report
Demonstrated a commitment to responsible procurement with 100% participation and completion of Supply Chain Human Rights training by members of Supply Chain Management, Legal and Sustainability teams
Published Gibson’s Sustainability Policy, which formalizes the Company’s long-standing sustainability commitments and enhances the governance approach
About Gibson Gibson is a leading liquids infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alberta, the Company's operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan.
Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com.
Advisory Statements
Definitions Scope 1 emissions are direct emissions from facilities owned and operated by Gibson.
Scope 2 emissions are indirect emissions from the generation of purchased energy for Gibson’s owned and operated facilities.
All references in this press release to Net Zero include Scope 1 and Scope 2 emissions only. Targets currently do not include the Gateway Terminal.
All references in this press release to Gibson’s business and asset base are only inclusive of the equity portion of facilities Gibson owns and operates.
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information and statements (collectively, forward-looking statements). These statements relate to future events or future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “aim”, “target”, “goal”, “contemplate”, “continue”, “commit”, “estimate”, “expect”, “future”, “forecast”, “forward”, “further”, “intend”, “long-term”, “propose”, “might”, “may”, “maintain”, “will”, “shall”, “project”, “should”, “could”, “would”, “believe”, “opportunity”, “predict”, “pursue”, “potential” and “progress” and similar expressions are intended to identify forward-looking statements. The forward-looking statements reflect Gibson's beliefs and assumptions with respect to, among other things, its commitment to sustainability, ESG leadership and strong governance practices, its focus areas for 2025, its commitment to, and ability to maintain, its position as an industry ESG and sustainability leader; its ability to identify and realize opportunities to advance its sustainability journey and leverage its asset base and growth opportunities to a more secure and resilient energy future; its commitment to a safe and effective working environment; its sustainability strategy generating long-term value for key stakeholders; its Mission Zero commitment and the efforts undertaken to achieve such goal; the anticipated benefits of its renewable PPA and the timing thereof; the impact of the acquisition of STGT on Gibson’s sustainability profile; its ability to improve its operations, including with respect to emission reductions, biodiversity and Indigenous relations; its ESG goals, including its 2025 and 2030 ESG goals and its Net Zero by 2050 commitment; embedding Truth and Reconciliation principles into its culture and business practices; Gibson’s future climate and ESG targets and metrics and future ambitions, the global energy transition, and other assumptions inherent in management’s expectations in respect of the forward-looking statements identified herein.
Forward-looking statements involve known and unknown risks, assumptions, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Gibson believes these statements to be reasonable, no assurance can be given that the results or events anticipated in these forward-looking statements will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. Actual results or events could differ materially from those anticipated in these forward-looking statements as a result of, among other things, Gibson’s ability to execute its current strategy, related milestones; Gibson’s ability to meet its sustainability and ESG goals; risks inherent in applicable laws and government policies; economic, societal, political and industry trends; Gibson’s ability to access capital; Gibson’s ability to obtain the anticipated benefits of the acquisition of STGT and its renewable PPA; risks inherent our business and the businesses of our industry partners; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, materials, services and infrastructure; the development and execution of projects; prices of crude oil, natural gas, natural gas liquids and renewable energy; the development, performance and viability of technology and new energy efficient products, services and programs including but not limited to the use of zero-emission and renewable fuels, carbon capture and storage, electrification of equipment powered by zero-emission energy sources and utilization and availability of carbon offsets; assumptions relating to long-term energy future scenarios; carbon price outlook; the cooperation of joint venture partners in reaching the Net Zero by 2050 commitment and other ESG goals; the power system transformation and grid modernization; levels of demand for our services and the rate of return for such services; the likelihood, timing and financial impact of certain risks and uncertainties described under the heading “Risk Factors” and “Forward-Looking Information” in our current annual and interim management’s discussion and analysis and Annual Information Form (“AIF”) and identified in other documents the Company files from time to time with securities regulatory authorities, in each case as filed on SEDAR+ at www.sedarplus.ca and available on the Gibson website at www.gibsonenergy.com.
The forward-looking statements contained in this press release represent Gibson’s expectations as of the date hereof and are subject to change after such date. Gibson disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable laws. Readers are cautioned that the foregoing lists are not exhaustive. For a full discussion of our material risk factors, see “Risk Factors” in our current annual and interim management’s discussion and analysis and AIF, in each case as filed on SEDAR+ at www.sedarplus.ca and available on the Gibson website at www.gibsonenergy.com.
