Through its reporting, US-based Select Water Solutions aims to provide its stakeholders with a clear understanding of its sustainability goals, progress, and initiatives.
As a provider of water and chemical solutions to the US unconventional oil and gas industry, its reporting framework covers water recycling, operational safety, emissions reduction, automation and monitoring technology, research and development and the utilisation of what it calls "environmentally conscious chemistry" to reduce its environmental impact.
These focus areas are based on recommended disclosures laid out by the Task Force on Financial Climate-related Disclosures (TCFD), the Sustainability Accounting Standards Board (SASB), the Sustainable Industry Classification System (SICS) and the reporting standards established by the Global Reporting Initiative (GRI). The disclosures are underpinned by the UN Sustainable Development Goals (SDGs).
Additionally, through its sustainability-linked credit facility, launched in March 2022, Select says it has established key stewardship performance targets, including employee health and safety and water stewardship targets.
During 2022, Select reported key ESG performance metrics via this framework including a 49% outperformance of its total recordable incident rate (TRIR) target and a 118% outperformance of its recycled produced water via fixed facilities target, a 101% year-on-year increase of total treated or recycled water, a 41% year-on-year increase in recycled produced water as a percentave of total water sales and a 61% increase in wastewater disposal volumes year-on-year.
John Schmitz, chairman of the board, president, and CEO at Select, stated: "Select is committed to providing sustainable full-life-cycle water and chemical solutions to our customers, and we welcome the opportunity to provide details on our ESG initiatives and environmental stewardship with our second annual Sustainability Report.
"Our distinct position as the premier water and chemistry company in the energy industry allows us to implement and execute a strategy that effectively serves our customer's needs and goals, in a manner that is sustainable and environmentally friendly to the communities in which we operate.
"Responsible and ethical practices for our environment, customers, and employees are core to our corporate mission. We believe the alignment of our sustainability targets within a sustainability-linked credit facility framework and the issuance of our second annual Sustainability Report, with expanded reporting metrics and information, further exemplifies our commitment to accountability, transparency, and sustainable solutions."