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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Gibson Energy Inc.    GEI   CA3748252069

GIBSON ENERGY INC.

(GEI)
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Gibson Energy Announces Its Inaugural Submission to CDP and the Creation of Its Sustainability and ESG Board Committee

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08/26/2020 | 09:01am EDT

CALGARY, Alberta, Aug. 26, 2020 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today the submission of its inaugural climate change questionnaire to CDP (formerly Carbon Disclosure Project) and the creation of its Sustainability and ESG Board Committee.

Submission to CDP
To provide increased transparency for the Company’s stakeholders regarding its environmental and climate-related performance, Gibson has submitted its inaugural climate change questionnaire to CDP. 

“Transparency is the foundation of our sustainability and ESG journey,” said Steve Spaulding, President and Chief Executive Officer.  “Our CDP submission is a critical part of this foundation as it will further enable even more meaningful collaboration with our stakeholders as we continue to manage climate-change risks, unlock opportunities and further enhance our resilience as a company as we move towards a more sustainable future.” 

The submission includes the quantification and verification of the Company’s Scope 1 and 2 greenhouse gas emissions and a partial quantification of the Company’s Scope 3 emissions.

A copy of Gibson’s CDP climate change questionnaire is available at the Company’s website at the following URL:

https://www.gibsonenergy.com/our-responsibility/sustainability/

Creation of the Sustainability and ESG Committee
Recognizing the importance of Board oversight of sustainability, the Board has established a stand-alone Sustainability and ESG Committee. 

“Dedicated governance and oversight are essential to the successful navigation of our sustainability journey,” said James Estey, Chairman of the Board.  “With a focused, stand-alone Sustainability and ESG Committee, we are better equipped to support management in its continued execution of the sustainability strategy of our company.”

Chaired by Judy Cotte, a recognized expert on ESG and responsible investment, this new committee will provide dedicated oversight and support of the Company’s sustainability and ESG strategy, targets and management systems.

Chaired by Jim Cleary, the Health and Safety Board Committee, formerly the Environment, Social, Governance / Health and Safety Board Committee, will be more operationally focused to provide oversight in the continuing development of Gibson’s health and safety program, including its Operations Management System.

About Gibson
Gibson is a Canadian-based oil infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of crude oil and refined products.  Headquartered in Calgary, Alberta, the Company’s operations are focused around its core terminal assets located at Hardisty and Edmonton, Alberta, and also include the Moose Jaw Facility and an infrastructure position in the U.S.

Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com.

Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”) including, but not limited to, statements concerning the CDP submission, sustainability and ESG and related matters. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘‘anticipate’’, ‘‘plan’’, ‘‘contemplate’’, ‘‘continue’’, ‘‘estimate’’, ‘‘expect’’, ‘‘intend’’, ‘‘propose’’, ‘‘might’’, ‘‘may’’, ‘‘will’’, ‘‘shall’’, ‘‘project’’, ‘‘should’’, ‘‘could’’, ‘‘would’’, ‘‘believe’’, ‘‘predict’’, ‘‘forecast’’, ‘‘pursue’’, ‘‘potential’’ and ‘‘capable’’ and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In addition, this news release may contain forward-looking statements and forward-looking information attributed to third party industry sources. The Company does not undertake any obligations to publicly update or revise any forward looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in “Forward-Looking Statements” and “Risk Factors” included in the Company’s Annual Information Form dated February 24, 2020 as filed on SEDAR and available on the Gibson website at www.gibsonenergy.com.

For further information, please contact:

Mark Chyc-Cies
Vice President, Strategy, Planning & Investor Relations
Phone: (403) 776-3146
Email: mark.chyc-cies@gibsonenergy.com

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© GlobeNewswire 2020

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Sales 2020 5 498 M 4 177 M 4 177 M
Net income 2020 160 M 122 M 122 M
Net Debt 2020 1 322 M 1 004 M 1 004 M
P/E ratio 2020 20,0x
Yield 2020 6,38%
Capitalization 3 111 M 2 367 M 2 363 M
EV / Sales 2020 0,81x
EV / Sales 2021 0,69x
Nbr of Employees 500
Free-Float 99,5%
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 26,06 CAD
Last Close Price 21,27 CAD
Spread / Highest target 41,0%
Spread / Average Target 22,5%
Spread / Lowest Target 3,43%
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Managers
NameTitle
Steven R. Spaulding President, Chief Executive Officer & Director
James M. Estey Chairman
Michael Lindsay Senior Vice President-Operations & Engineering
Sean Brown Chief Financial Officer & Senior Vice President
Marshall L. McRae Independent Director
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