CALGARY, AB, June 23, 2020 /CNW/ - Crescent Point Energy Corp.
("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) has
released its 2020 Sustainability Report (the "Report") highlighted
by an emissions intensity reduction target of 30 percent by 2025.
The Report outlines the Company's latest progress and commitment to
strong environmental, social and governance ("ESG")
Additional highlights of the Report include:
- An effective risk-management response to the COVID-19 pandemic,
demonstrating continued operational excellence and showcasing how
the Company prioritizes the safety of staff and its operating area
- Significantly decreased asset retirement obligations by over
$220 million in 2019 primarily driven
by dispositions of non-core assets and ongoing reclamation
- Adoption of operational technology platform to further minimize
the risk of spills, reduce fleet emissions, and decrease the risk
of motor vehicle incidents.
- Revised compensation program with a significant weighting
directly tied to ESG metrics.
- Commitment to gender diversity in all levels of leadership,
including the Board.
- The release of the Company's first Taskforce for
Climate-related Financial Disclosure ("TCFD") framework in
conjunction with the Report.
"Our 2020 Sustainability Report shows our continued emphasis on
enhancing Crescent Point's strong ESG performance," said
Craig Bryksa, President and CEO of
Crescent Point. "Our 30 percent emissions intensity reduction
target by 2025 is a tangible and achievable target that aligns with
our purpose statement of 'Bringing energy to our world - the right
way'. Integrating sustainability practices into our business
operations is the right thing to do as our approach mitigates our
long-term risks and strengthens shareholder value."
The Report is Crescent Point's second sustainability report,
building upon the inaugural report released in 2019. The full
Report, including a downloadable PDF, is available on Crescent
Point's website at www.crescentpointenergy.com. The TCFD framework
is also available on the Company's website.
Any "financial outlook" or "future oriented financial
information" in this press release, as defined by applicable
securities legislation has been approved by management of Crescent
Point. Such financial outlook or future oriented financial
information is provided for the purpose of providing information
about management's current expectations and plans relating to the
future. Readers are cautioned that reliance on such information may
not be appropriate for other purposes.
Certain statements contained in this press release constitute
"forward-looking statements" within the meaning of section 27A of
the Securities Act of 1933 and section 21E of the Securities
Exchange Act of 1934 and "forward-looking information" for the
purposes of Canadian securities regulation (collectively,
"forward-looking statements"). The Company has tried to identify
such forward-looking statements by use of such words as "could",
"should", "can", "anticipate", "expect", "believe", "will", "may",
"intend", "projected", "sustain", "continues", "strategy",
"potential", "projects", "grow", "take advantage", "estimate",
"well-positioned" and other similar expressions, but these words
are not the exclusive means of identifying such statements.
In particular, this press release contains forward-looking
statements pertaining, among other things, to the following: the
Company's emissions intensity reduction target of 30 percent by
2025 and the achievability of that goal; and the Company's asset
All forward-looking statements are based on Crescent Point's
beliefs and assumptions based on information available at the time
the assumption was made. Crescent Point believes that the
expectations reflected in these forward-looking statements are
reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements
included in this release should not be unduly relied upon. By their
nature, such forward-looking statements are subject to a number of
risks, uncertainties and assumptions, which could cause actual
results or other expectations to differ materially from those
anticipated, expressed or implied by such statements, including
those material risks and assumptions discussed in the Company's
Annual Information Form for the year ended December 31, 2019 under "Risk Factors" and in our
Management's Discussion and Analysis for the year ended
December 31, 2019, under the headings
"Risk Factors" and "Forward-Looking Information". The impact of any
one risk, uncertainty or factor on a particular forward-looking
statement is not determinable with certainty as these are
interdependent and Crescent Point's future course of action depends
on management's assessment of all information available at the
Additional information on these and other factors that could
affect Crescent Point's operations or financial results are
included in Crescent Point's reports on file with Canadian and U.S.
securities regulatory authorities. Readers are cautioned not to
place undue reliance on this forward-looking information, which is
given as of the date it is expressed herein or otherwise. Crescent
Point undertakes no obligation to update publicly or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, unless required to do so pursuant to
applicable law. All subsequent forward-looking statements, whether
written or oral, attributable to Crescent Point or persons acting
on the Company's behalf are expressly qualified in their entirety
by these cautionary statements.
FOR MORE INFORMATION ON CRESCENT POINT ENERGY, PLEASE
Brad Borggard, Senior
Vice President, Corporate Planning and Capital Markets, or
Shant Madian, Vice
President, Investor Relations and Corporate Communications
Telephone: (403) 693-0020 Toll-free (US and Canada): 888-693-0020 Fax: (403)
Address: Crescent Point Energy Corp. Suite 2000, 585 - 8th Avenue
S.W. Calgary AB T2P 1G1
Crescent Point shares are traded on the Toronto Stock Exchange
and New York Stock Exchange under the symbol CPG.
SOURCE Crescent Point Energy Corp.