HOUSTON, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE:AROC) (“Archrock” or the “Company”) today announced the publication of its 2021 Sustainability Report, detailing progress on and commitments to enhancing the Company’s environmental, social and governance (ESG) performance. The report is based on 2021 data and also includes certain achievements made year to-date in 2022, underscoring the company’s culture of continuous improvement.
“We are proud to publish our 2021 Sustainability Report as we advance our ESG journey for the benefit of our customers, employees, shareholders, communities and the environment. Rooted in strong corporate governance practices, this journey began four years ago and has rapidly expanded into a commitment to integrate sustainability into all aspects of our business,” said Brad Childers, Archrock’s President and Chief Executive Officer.
“I’m particularly excited about our recent efforts to develop solutions to help our customers decarbonize, from lower-emitting and electric motor drive compression horsepower, to continuous methane emissions detection and management through our investment in and partnership with ECOTEC. These opportunities further solidify our commitment to and support of the role we expect natural gas will continue to play as an environmentally, economically and strategically sound energy source for America and the world.”
“Moving forward, and indicative of our sustainability focus, we’ve set quantitative, meaningful ESG goals to align organizational priorities. In 2022, we have increased the weight of safety and sustainability within our short-term incentive plan to 20%. The metric includes targets for safety performance, the development of a comprehensive diversity and inclusion policy and a performance metric for reductions in miles driven by our field service technicians, which we expect to positively impact our Scope 1 emissions.”
2021 Report Highlights:
- Achieved record safety performance during 2021, with a total recordable incident rate of 0.10, six times better than the 2021 Gas Compression Association average of 0.63
- Invested nearly $50 million in a digital transformation over three years, capped by the achievement of several important technology milestones in 2021
- Charged Archrock’s New Ventures team with evaluating and pursuing complementary business opportunities to help our customers decarbonize
- Using a consistent methodology, achieved an 11% year-over-year reduction in 2021 Scope 1 and Scope 2 CO2 emissions intensity
- Using a consistent methodology, reduced estimated NOx emissions by 37% on a per horsepower basis since 2017
- Reduced our facility footprint by 9% since 2019
- Demonstrating our commitment to board of director diversity, 3 of 7 independent Directors are female or identify as a member of an underrepresented racial/ethnic group
2022 Initiatives:
- Significant investment in electric drive compression horsepower
- Based on an in-depth review conducted in 2021, committed to adopting a diversity and inclusion policy to serve as a foundation for a comprehensive program
- Implemented a Supplier Code of Conduct, which sets forth our expectations that our business partners conduct themselves in a manner that is consistent with Archrock’s mission and values
- Agreed to acquire a 25% equity stake in ECOTEC, which provides methane emissions monitoring
Archrock’s 2021 Sustainability Report has been prepared in accordance with the Sustainability Accounting Standards Board (SASB).
To learn more about Archrock’s sustainability efforts and how WE POWER A CLEANER AMERICA™, visit https://www.archrock.com/sustainability/.
About Archrock
Archrock is an energy infrastructure company with a primary focus on midstream natural gas compression and a commitment to helping its customers produce, compress and transport natural gas in a safe and environmentally responsible way. Headquartered in Houston, Texas, Archrock is the leading provider of natural gas compression services to customers in the energy industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment. For more information on how the Company embodies its purpose, WE POWER A CLEANER AMERICA™, visit www.archrock.com.
For information, contact:
Megan Repine
Vice President, Investor Relations
(281) 836-8360
investor.relations@archrock.com
