PanAfrican Energy Tanzania’s (PAET) parent company Orca Energy Group Inc. has unveiled its first sustainability report that seeks to create long-term sustainable and accretive value for all of its stakeholders, whilst contributing to Tanzania’s transition away from more carbon-intensive sources of energy to a lower carbon future.
“This is our maiden Sustainability Report and we are proud of the progress we made in 2021 and the range and impact that our Environmental, Social and Governance (ESG) focused initiatives have had, which are continuing with the same momentum in 2022,” said Orca Energy Group, Chief Executive Officer, Jay Lyons.
He added, “As a company active in the energy space, we are intrinsically linked with Tanzania’s energy needs, with our primary objective being to provide reliable natural gas to support the country’s power and industrial sectors, whilst looking at ways to minimize the environmental impact of our operations and maximize our positive contribution to our stakeholders.”
The Sustainability Report reflects on the Company’s progress in delivering its sustainability principles and framework, laying the groundwork for some future projects.
The report aims at setting out the Company’s ambitions of a corporate and sustainability perspective and demonstrate how its holistic approach to sustainability is the right method of implementation for ORCA and PAET to take.
Sustainability is important for players in any sector, but for a key player in a critical sector such as energy, sustainability bears even greater weight.
The country’s hydropower industry is arguably one of the best in Africa, but due to its seasonality and the somewhat unpredictable nature of weather patterns, ORCA and PAET believe that there will continue to be a place for domestic natural gas in the country’s energy mix in the future.
At present, PAET is already one of the largest natural gas to electricity suppliers in-country, responsible for approximately 45 per cent of the Tanzanian electricity supply, and given the country’s future industrial growth plans, it is believed that further development of the Songo Songo gas field will bring online additional power capacity while keeping additional carbon emissions as restricted as possible.
