Enauta bets on ESG principles to grow

Reduction of greenhouse gas emissions, encouragement of diversity and diversification of assets are some of the company’s main goals to advance in this agenda

 

On the agenda of companies that are rethinking the future, three letters have gained a strong weight in the definition of strategy: ESG (Environmental, Social and Governance), which, when they take shape, can change risk analysis and investment decisions. These three pillars have been gaining more and more attention from consumers, who are paying more attention to the decisions made by companies, especially in the oil and gas sector.

 

Enauta, which operates in the oil and gas area, has ESG in its DNA. It already worked with these concepts, even when these principles were not yet spoken about. After the covid-19 pandemic, the theme gained even more relevance in its business, reinforcing its concern to generate the least possible impact on the environment and to collaborate in the creation of a more sustainable society.

 

Enauta created a specific sustainability management, which operates anchored in a new policy for sustainable development, launched earlier this year. “The policy formalizes, directs, and establishes criteria to ensure the commitment to environmental protection and the economic and social prosperity of the country,” says company president Décio Oddone.

 

This direction on ESG issues has been so successful that the company stood out in the Melhores da Dinheiro award. In the Fuel, Oil and Gas sector, it won 2nd place overall, 1st place in Human Resources, 1st place in Social Responsibility and 1st place in Corporate Governance.

 

Achievements

 

Some actions have already been implemented for a few years. Enauta has reaped the rewards. Among them is a 7% reduction of direct emissions in the Atlanta Field in 2020. In that same year, in which Enauta received a B grade from CDP, an entity that evaluates carbon emissions by companies, the intensity was 15.2 kg of CO2 e/BOE (barrel of oil equivalent).

 

Another important result for the company, which this year surpassed the mark of 18 million barrels produced in the Atlanta Field, was the 26% decrease in CO2 emissions in the second quarter of 2021 compared to the same period in 2020. This result came from improved operational efficiency and an optimization of logistics.

 

In its operations, according to Oddone, Enauta avoids the use of diesel, consuming gas produced as the platform’s primary energy source. “Other initiatives that helped improve efficiency was the reduction of the support fleet and the optimization of the use of helicopters,” he highlights.

 

Commitments

 

To reinforce its commitment to the environment and society, Enauta has joined those who drive ESG practices around the world. For ten years it has published its annual sustainability report, which follows international standards and is a signatory of the United Nations (UN) Global Compact.

 

According to the company’s president, the oil company is aligned with the 17 Sustainable Development Goals (SDGs) of the UN, highlighting SDG 14, which deals with life in water.

 

Last year, Enauta became the first Brazilian company to sign the Sustainable Ocean Principles, a United Nations initiative for the sustainable management of the oceans.

 

In addition, it is in compliance with other SDGs, such as those related to human rights, climate change, decent work, environment, and anti-corruption.

 

“We are committed to the changes needed to ensure a better world for future generations,” Oddone points out.

 

Research and development

 

The company has always acted consistently in research and development, seeking to generate knowledge, safety, and environmental preservation. In partnership with the State University of Rio de Janeiro, the company is studying the contribution of mangrove forests in the state of Rio de Janeiro to the process of mitigating global warming through carbon storage.

 

Enauta’s study was selected by the Brazilian Institute of Oil, Gas and Biofuels (IBP) to represent Brazilian industry initiatives at the UN Climate Conference (COP26), which takes place this November in Scotland.

 

“For us, it is a great pride to have a research being presented to representatives from several countries. This shows that we are following the right path”, emphasizes Enauta’s president.

 

Governance

 

Publicly traded and listed in the New Market of B3, the São Paulo Stock Exchange, Enauta is strongly committed to corporate governance. Women are gaining more and more space in strategic positions in the company. Today, they occupy 40% of the leadership positions.

 

Moreover, it also has a governance, ethics and sustainability committee and an audit committee, which, according to Oddone, are fundamental for process control, decision making, and feedback on internal ESG guidelines.

 

People

 

Enauta’s staff is highly qualified. Turnover is around 4.5%. “This rate is considered very good for the oil and gas sector,” emphasizes the president.

 

Among the various benefits offered by the company is a Variable Remuneration Program (PRV) that aims to bring transparency in the processes of individual and collective recognition.

 

Furthermore, according to Oddone, the oil company is betting on a multidisciplinary team with high delivery capacity, in permanent development. Today, 36% of the employees are fully graduated, 36% are post-graduated, 15% have a master’s degree, and 5% have a doctorate.

 

Diversity is another highlight. According to Oddone, besides gender equity, the company recognizes the importance of generational inclusion to increase performance. “The presence of representatives from different generations allows a balance to be achieved between experience, knowledge, and innovative attitude, resulting in a high level of productivity” In the staff, 58% are in the age range between 31 and 45 years old; 21% are between 46 and 60 years old; and 16% fall into the over-60 age range. The year 2020 also demanded efforts to ensure the team’s well-being. Enauta kept all its employees home office since the first quarter of 2020. It made the hybrid working regime official in the second half of 2021. It maintained medical support for employees and their families in cases of Covid-19 contamination, in addition to offering a specialized psychological support program, online workouts, and internal webinars to maintain integration.

 

Opportunities

 

According to the president, the company has a cash position of around R$ 2 billion, which gives breath to the search for new opportunities. The strategy involves strengthening the production of hydrocarbons before diversifying the portfolio. “First we will expand oil production to generate the financial resources needed to invest in new energy sources,” he emphasizes.

 

Oddone points out that the oil company has a firm commitment to transparency, diversity, socioeconomic inclusion, and to mitigating the effects of climate change. “We are increasingly committed, in our planning and in our actions, to achieve more and more consistent results in these areas, now recognized as essential for human development.”

 

Acquisitions

 

Enauta has been achieving expressive numbers, standing out among the independent oil companies.

 

The acquisition of new assets to expand its market share is also on the radar. “I believe there are good opportunities for independent oil companies in Brazil. We are looking to position ourselves,” said Oddone. Enauta’s focus, according to him is on assets already in production.