Sustainability underpins Cornerstone’s strategy to grow with a clear focus on developing lower carbon, sustainable energy projects is a pledge to minimise its carbon intensity and be net zero carbon as soon as operationally practicable.
The Board is committed to minimising the carbon intensity of all its operations by making it an integral part of its decision-making processes.
Corporate culture and good governance will be fundamental to delivering on that commitment and the Board’s ESG Committee has already commenced work to develop a strategy to achieve this pledge, the key themes of which are set out in the below Figure.
ESG strategy implementation
Implement impactful ESG strategy, embed in company culture
Planning to minimize impact
Analyse all aspects of the development to minimise impact, design for top quartile performance, ensure data will be collected to measure progress
Drilling, sub sea installation, tie-back
Focus on safe operations, minimise environmental impact, deliver to the plan
Optimise and measure
Optimise operations and measure impact for 12 months to fully understand footprint
Meaningful Net Zero
With a clear understanding of operational impact, implement meaningful net zero strategy, and investigate DAC and renewable energy options
The Group’s business strategy has been carefully developed to facilitate meeting this target. An example of this is the below Figure, which demonstrates choices made by the Company for selection of the Abbey field development concept. The concepts considered included a new fixed platform which, after environmental and financial evaluation, was rejected in favour of a subsea development.
| New Development Options | Lower Emissions Options for Abbey Development | |
| Fabrication of new dedicated platform |  | Tie into existing modern, unmanned host production facility |
| In-field dispersed well configuration | | Single surface location, subsea tie-back to production facility |
| Fabrication of new dedicated pipeline | | Shorter pipeline tie-back to host facility |
The forecast outcome of these choices forecast carbon intensity of the Abbey development to be lower relative to averages for UK offshore developments.
