GlobalData offers a comprehensive analysis of Archrock, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Climate Change and associated ESG keywords, GlobalData delivers valuable information on Archrock‘s ESG performance. GlobalData’s company profile on Archrock offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Archrock, a leading provider of natural gas compression services, has set net-zero targets to reduce its carbon footprint. The company is tracking its estimated Scope 1 (vehicle fleet), Scope 2 (facilities), and Scope 3 (compression and production equipment) emissions on an absolute and intensity basis. The company's 2022 short-term incentive program includes a quantifiable targeted reduction in miles driven per operating horsepower, which should positively impact its Scope 1 emissions. Archrock’s latest filings mentioned the keywords 'Emissions' and ‘CO2’ most number of times in relation to 'Climate Change'.
In FY22, company reported direct (scope 1) emissions from vehicle fleet was 18,676 Tonnes CO2 in 2022 and 4,681 Tonnes CO2 from indirect (scope 2) emissions from facilities. In addition, emissions (scope 3) from compression and production equipment were 12.2 Tonnes CO2 (millions) in 2022. All Archrock vehicles are equipped with tools, including telematics, which allow us to monitor vehicle energy consumption and driving habits. Not only do these tools provide the feedback necessary to achieve safe and efficient driving behaviors, but they also help the company to reduce unnecessary miles driven and idling time.
Since 2019, the company has annually reviewed and rationalized its office and shop utilization, resulting in an 11% reduction of its facility footprint in 2022, following a 9% reduction in 2021. Its intent is to reduce its real estate footprint as much as possible, as well as associated energy use and Scope 2 emissions. Its corporate headquarters building is “LEED Silver Certified” by the U.S. Green Building Council and further carries a “Well Health-Safety” rating.
In conclusion, Archrock is tracking its estimated Scope 1, Scope 2, and Scope 3 emissions on an absolute and intensity basis. The company’s comprehensive environmental management system (EMS) establishes environmental awareness and accountability internally as well as a framework implemented to monitor its environmental performance, minimize its environmental impact and comply with regulations.