NET-ZERO JOURNEY COMMITMENT

At Ovation Petro, we recognize our substantial role in the global energy landscape and associated environmental implications. With a sense of responsibility, we are aligning our strategies with the Science Based Targets initiative (SBTi), pledging our commitment to achieve net-zero emissions by 2050.

The SBTi provides a scientifically-backed framework for reducing greenhouse gas emissions to avert the most severe impacts of climate change. By aligning with SBTi, we ensure our climate targets correspond with the latest scientific consensus necessary to limit global warming to the levels established in the Paris Agreement.

To achieve net-zero, we are prioritizing:

1. Carbon Footprint Measurement: Accurately assessing our carbon footprint is our primary step, as this data will guide our strategies to reduce emissions effectively.

2. Reducing Emissions: Our goal is to significantly decrease our operational emissions through efficiency improvements, waste reduction, and the implementation of advanced, eco-friendly technologies.

3. Absolute Reduction in Supply Chain: We are committed to achieving absolute emissions reduction across our supply chain. This includes optimizing logistics, enhancing resource efficiency, and promoting responsible sourcing.

4. Science-Based Target Setting: In collaboration with the SBTi, we will set ambitious, measurable targets that are consistent with the aim of keeping global warming well below 2°C above pre-industrial levels.

5. Clean Energy Transition: We will actively diversify our energy portfolio, focusing on the adoption of lower-carbon and renewable energy sources.

6. Transparency:  We promise regular reporting on our progress, fostering a culture of transparency and accountability.

By aligning with the SBTi targets, Ovation Petro is not only demonstrating the compatibility of profitability and sustainability in the energy industry but also leading the way toward significant change. This commitment represents an environmental obligation and a promise to our customers, employees, and future generations. We are ready to navigate the challenges of a net-zero future and contribute positively to a more sustainable world.