California Resources Corporation Releases 2021 Sustainability Report Detailing ESG Performance and Progress on Sustainability Initiatives

LONG BEACH, Calif.–(BUSINESS WIRE)–California Resources Corporation (NYSE: CRC) today announced the release of its 2021 Sustainability Report. The report provides an overview of CRC’s continued progress in its sustainability efforts in environmental, social and governance (ESG) as the company advances its commitment to energy transition and the decarbonization of local economies.

“Today, we are proud to share with you CRC’s progress and continued leadership in ESG performance,” said Mac McFarland, CRC President and CEO. “Since our inception in 2014, CRC has consistently set high standards for environmental stewardship, safe and responsible operations, and community empowerment. In 2021, CRC continued its journey to deliver a cleaner, more sustainable energy mix by reducing our total Scope 1, 2, and 3 emissions by 1 million metric tons in the first year of our goal from net zero to total reach of 2045. Setting and executing this goal places CRC among a select few industry peers. »

Mr. McFarland continued, “In addition, we have updated and expanded our ESG goals on methane emissions, freshwater use, community giving, leadership diversity and linked ESG performance to executive compensation. This report exemplifies our staff’s long-standing commitment and dedication to applying ingenuity and technology to deliver low-carbon energy to our state, implement our ESG goals that advance the ambitious climate goals of state and strengthen the communities in which we live and work. ”

Building on its 2020 Sustainability Update and CDP’s 2021 Leadership Level ranking of A-, CRC’s 2021 Sustainability Report references standards from the Sustainability Accounting Standards Board (SASB), the Global Reporting Initiative (GRI) and the International Petroleum Industry Environmental Conservation Association (IPIECA). Highlights and accomplishments from CRC’s 2021 Sustainability Report include:

  • Announcing the 2045 net zero goal and updating and expanding ESG goals on methane emissions, freshwater use, community giving, leadership diversity and ESG performance related to executive compensation

  • Hiring of the first Director of Sustainable Development

  • Creation of the Asset Retirement Obligation Project Management Office (ARO)

  • Advance our carbon management activity, including our carbon capture and storage (CCS) projects Carbon TerraVault and the CalCapture CCS+ project

  • Continued to be a net supplier of fresh water and electricity

  • Continued to rank among the safest companies in the United States; workforce scored higher on safety performance than many non-industrial sectors in 2021

  • Won 26 National Safety Achievement Awards in each of our areas of operation and company-wide in 2021 for our performance

For more information on CRC’s sustainability efforts and to download the full and summary versions of the 2021 Sustainability Report, please visit crc.com/esg.

About California Resources Corporation (CRC)

California Resources Corporation (CRC) is an independent oil and gas company committed to the sector’s energy transition. CRC has one of the lowest carbon intensity productions in the United States and we are focused on maximizing the value of our land, mineral and engineered resources for decarbonization by developing carbon capture and storage (CCS) and other emission reduction projects.

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