Next steps for Europa
We are now planning to build on this foundation by defining a set of relevant, measurable targets and metrics that will enable it to measure, track and improve its performance in relation to its material topics.
We commit to expanding our stakeholder and supply chain mapping to ensure a thorough understanding of who is included in each stakeholder group and regularly test the materiality assessment and strategy against these groups.
We are investigating additional initiatives that will both reduce negative impacts caused by its operations and enhance positive contributions to the environment and communities in which we operate.
This will build on the existing initiaives Europa is involved with:
- Geothermal Scoping Study: Europa is working with Causeway Geothermal (NI) Ltd. to carry out studies to assess the potential of Europa’s West Firsby field as a test site for sustainable, clean geothermal energy systems (https://www.europaoil.com/wp-content/uploads/2021/12/EOG-Geothermal-Update-211222.pdf).
- Plan Towards Zero Flaring: Europa has used its influence as a non-operating partner to secure Joint Venture agreement to work towards zero flaring.
- Community Funds: Europa contributes to community funds through its joint venture partnership with Egdon Resources, which provides funding and assistance to selected local charities, good causes and initiatives in the local East Midlands communities in which it is active in the UK (https://egdon-community.com/).
We are working to understand the various ESG reporting frameworks and associated regulatory requirements. During the next year we will select the most appropriate schemes and begin working towards reporting against these disclosures to enable transparent and honest reporting of Europa’s activities to its stakeholders.