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26 April 2023

A focused approach to managing climate risk

VAALCO Energy is a Houston, U.S.-based, independent energy company with production, development and exploration assets in Africa and Canada. Buchanan provides ESG advisory to VAALCO. This year we supported the company to develop its approach to managing climate risk. We also created an ESG materiality framework to provide a gap analysis of ESG management and to inform the reporting process. The framework plotted material topics informed by the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB). Each of topic was assessed based upon the perceived level of risk to the business and the level of management control in place. 

We were engaged once again to deliver VAALCO’s ESG Report. This document builds upon the foundations set in the 2021 report, expanding the disclosure to provide greater detail on the Company’s rigorous ESG management processes. The reporting in line with the Task Force on Climate-related Financial Disclosures (TCFD) was further developed, including conducting a scenario analysis which considered the new asset locations following VAALCO’s merger with TransGlobe. 

Click here to read the ESG report

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