CRC Releases 2019 Sustainability Report
CRC just published our 2019 Sustainability Report that provides a comprehensive overview of our continuous progress on our sustainability efforts in environmental, social and governance (ESG) performance while improving overall transparency and highlighting the work we invest to make a positive impact on California’s communities.
There may be some facts in the report that may surprise you, for instance CRC’s Elk Hills and Wilmington oil fields have the lowest carbon intensities (CI) among the top 10 California oil fields, and they are the only 2 fields to have a lower CI than typical Saudi imports under California’s Low Carbon Fuel Standard. This is important because California is an energy island and imports over 70% of its oil, 90% of its natural gas and 30% of its electricity. In 2018 California imported 370 million barrels of foreign oil — equating to California sending $25 Billion per year to countries including Saudi Arabia, Ecuador, Colombia, Kuwait and Iraq.
Unlike the foreign countries and other states that export crude oil to California, CRC mitigates our greenhouse gas emissions under California’s Cap-and-Trade program, which sets a price on carbon for the state’s GHG Reduction Fund. Local energy production that adheres to California’s strict environmental, safety, labor and human rights standards ensures we don’t outsource our environmental leadership.
At CRC, we are proud to safely and sustainably provide the energy people need every day and support working families in careers that provide upward economic mobility.
CRC President & CEO Todd Stevens shared, “As Californians, we will continue to set the example for the industry and believe our proven track record of safety, technological innovation and operational excellence, coupled with our ESG policies and 2030 Sustainability Goals, both distinguish us among domestic and international energy producers and advance California’s ambitious goal of carbon neutrality as a signatory of the Paris Climate Accord.”
Visit the Sustainability section on CRC.com to read our Report and to learn more about how CRC is helping our state and its diverse communities achieve and sustain a vibrant and inclusive future.