MEG’s Approach to Sustainability

At MEG, sustainability means providing energy to the world in a responsible manner that integrates economic, environmental and social considerations. We work to balance short and long-term interests and improve Shareholder return.

Our inherent sustainability advantages as a company include a large resource base, low production decline and a low sustaining cost. The localized nature of MEG’s asset permits MEG to economically develop the resource while minimizing environmental impacts. The longevity of an in situ project supports strong partnerships with nearby local and Indigenous communities for decades to come.

MEG is committed to going above and beyond these inherent advantages to provide cleaner energy while maintaining economic competitiveness. We leverage our innovative technology to prioritize safety, minimize our impact on the environment and climate change, and are committed to an inclusive and diverse workforce. 

Our Sustainability Journey

In 2019 we took many steps to further our commitments to ESG, including:

  • ESG topics were integrated into MEG’s Enterprise Risk Management (“ERM”) system, providing risks and opportunities for the Board of Directors (Board) to evaluate
  • Expanded social and environmental performance targets which impact executive and employee compensations
  • Release of MEG’s inaugural ESG report.
  • Continued development of ESG Governance structure with full Board engagement and oversight
  • An aspirational goal was set to achieve net zero greenhouse gas emissions

In 2020, MEG will further integrate ESG practices throughout the business, continue to monitor and manage risks and drive more impactful ESG disclosure.

ESG Governance

MEG’s Board of Directors is responsible for the oversight of all ESG-related initiatives, targets and programs. The Board ensures that MEG sets high governance and environmental standards, maintains compliance with environmental and human rights laws and regulations, and has key programs and policies in place for the health and safety of its employees in the workplace and surrounding communities. The Board also reviews and approves corporate strategies to mitigate EHS risks including those associated with climate change.

MEG’s Board establishes annual safety performance targets that are linked to executive compensation. We recently added environmental performance targets for spills and GHG intensity, which also impact executive compensation.

MEG has established an ESG committee which is comprised of MEG’s Corporate Officers and executives to ensure MEG’s commitments to ESG are satisfied.

MEG’s Business Conduct Charter contains key principles that guide all aspects of our operations and reflects on the values that build our sustainable model. Our Board, staff and contractors have a shared commitment to be stewards of the environment, to ensure that our operations meet or exceed environmental standards, and to achieve health and safety excellence. These firm commitments are outlined in our Environment, Health and Safety (EHS) Policy and are enacted within our EHS Management Performance Program. In addition, direct oversight of Health, Safety, Environment and Governance occurs at the Board level. MEG’s company-wide corporate compensation is linked to both safety and environmental performance metrics.

Strategy and Planning

MEG relies on a value-driven Enterprise Risk Management (ERM) system as an essential element of our sustainability approach to create and protect value and to address uncertainty. ERM is integrated into existing processes within the company including strategic planning, business planning, operating practices, marketing, compliance monitoring, operating performance measurement and facility design.

ERM helps us identify, assess, mitigate, monitor and report enterprise level risks and opportunities to achieve our corporate objectives and goals, which prepares our leaders to make informed decisions about capital and resource allocation.