GeoPark Reaffirms its Leadership in Sustainability with Outstanding Achievements in its Speed / Sustainability Report 2024
In the most recent version of the Sustainability Report, GeoPark reports a reduction of 28% in its greenhouse gas emissions (Scopes 1 and 2) compared to 2020, as well as the strengthening of its Sustainability Framework and Human Rights System.
GeoPark, a leading independent energy company with over 20 years of successful operations in Latin America, publishes its SPEED/Sustainability Report 2024, verified by an independent third party, which highlights significant advances in sustainability that reaffirm its commitment to shared progress in the countries and regions where it operates.
Guided by its Integrated SPEED Values System, GeoPark integrates sustainability into its daily operations by prioritizing safety, generating prosperity, empowering its employees, protecting the environment, and fostering strong relationships with its neighboring communities and allies, always acting with integrity and transparency.
In 2024, the Company strengthened its Sustainability Framework to ensure that its efforts are focused on being more efficient, managing risks and opportunities in the face of global challenges such as climate change and energy security, and expanding the positive impact beyond its operations to fulfill its promise of Creating Value and Giving Back.
In his message, Andrés Ocampo, CEO of GeoPark, stated that: “Sustainability is a fundamental driver of our strategy North Star and a key piece to ensure our long-term success. In 2024, we made progress on several fronts: we reduced emissions, optimized processes, and generated value for the communities where we operate. Through our Integrated SPEED Values System, we produce energy responsibly, drive development, and care for nature, while creating value for our shareholders.”.
KEY SUSTAINABILITY RESULTS
- Cumulative reduction of 28% in Scope 1 and 2 GHG emissions in 2024 compared to the 2020 baseline, with an emissions intensity of 10.3 kgCO2e/BOE, reflecting operational improvements, increased use of renewable energy, and methane management through real-time digital systems.
- Six Energy Communities projects structured alongside the Ministry of Mines and Energy of Colombia to bring clean and reliable energy to rural areas of Casanare.
- Zero barrels of crude oil spilled per million barrels produced and zero environmental sanctions in operations during 2024.
- 100% of employees with variable compensation linked to climate change indicators, strengthening internal alignment with long-term environmental goals.
- Reduction of 7,01% in water consumption compared to 2023.
RECOGNITIONS AND LEADERSHIP IN SUSTAINABILITY
In 2024, GeoPark's sustainability performance was recognized with multiple distinctions:
- ‘AA’ rating in the MSCI ESG Ranking for the second consecutive year, consolidating our position as Sustainability Leaders.
- Inclusion in the 2025 S&P Sustainability Yearbook, ranking us 15% among the best-performing companies in the oil and gas sector worldwide, and recognized as the company with the greatest improvement in its score within the peer group.
- Winners of the Sustainability Facts Award from the Colombian Association of Oil and Gas for climate action and circular economy strategies.
- Recognition from ANDI with the Water and Biodiversity Award for data-driven conservation initiatives.
- Awarded the Schneider Electric Award for Decarbonization for our leadership in emissions management.
The SPEED/Sustainability Report of GeoPark follows the main international reporting frameworks, including the Global Reporting Initiative (GRI) and its annex for the oil and gas industry, the Sustainability Accounting Standards Board (SASB), the IPIECA sustainability reporting guidance, the Task Force on Climate-related Financial Disclosure (TCFD), the United Nations Global Compact, and the Sustainable Development Goals (SDGs).
GeoPark invites all its stakeholders to consult the SPEED/Sustainability Report 2024, available at www.geo-park.com or at this link. The Company will continue to work to raise its standards, thus translating its commitments into results and building a resilient energy future for the coming generations.
Colombian Association of Oil and Gas