Sustainability Strategy

Mermaid has prepared the strategy and report for a purpose of consecutively achievement on sustainability goals with reference to the Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB) reporting framework. Our strategy concentrates on communicating environmental, social and governance issues that are material to our performance which includes the following components:

  1. Material environmental, social and governance factors
  2. Policies, practices and performances
  3. Targets
  4. Sustainability reporting framework
  5. Board statement

Sustainability Governance Structure

Mermaid conducted the materiality assessment to identify impacts of the Company that are material to its stakeholders and to manage ESG risks and opportunities. Mermaid considered the ESG materiality both within its own operations and within its supply chain that are linked to the Sustainable Development Goals (“SDGs”) in order to prioritize SDG targets with a purpose to drive the Company’s standards, procedures and technical controls.

These issues and their corresponding SDGs have been organized by mapping the linkages between Mermaid’s material topics and the SDGs, the Company aims to understand the relationship between the SDGs and the oil and gas industry, incorporate relevant SDGs into business operations, validate current efforts and encourage the exchange of new ideas to manage its impacts.

GHG Emissions and Emissions to Air
Water Consumption
Chemicals Management
Effluents and Waste
Ecological Impact Management
Health, Safety and Emergency Management
Employment Practices

The SDG materiality and prioritization matrix highlight Mermaid’s SDG risks exposure along with the importance of these SDGs to the Company considering financial materiality of SDG issues. The SDG Risk exposure is measured through specific model and the financial materiality is assessed based on the Sustainability Accounting Standards Board materiality matrix for the primary operating sector – oil and gas exploration & production.