According to the International Union for the Conservation of Nature – is a term used to describe the “variability among living organisms from all sources including terrestrial, marine and other aquatic ecosystems, and the ecological complexes of which they are part; this includes diversity within species, between species, and of ecosystems.”
Ecosystem services include the value and benefits that biodiversity provides to humans through supporting ecological processes; provisioning food and energy; regulating the environment through carbon and water cycles and providing cultural services for our overall wellbeing.
The safety and well-being of people and the environment is one of the IRPC ‘s core values. IRPC understands that our business has an impact on the environment, including biodiversity and ecosystem services. IRPC also understands that we rely upon biodiversity and ecosystem services to support our business from our upstream energy business to our downstream distribution business and retail business. IRPC is focusing on protecting and managing biodiversity to support IRPC’s long term business success through our value chain.
IRPC and Subsidiary are committed to integrate biodiversity considerations into our business decision process in order to avoid and minimize risks and impacts to sensitive biological values. Biodiversity is a part of IRPC’s due diligence in supporting sustainable development in economic, environmental, and social aspects.
IRPC and Subsidiary commitment to protecting biodiversity values is driven at the highest level of our corporate policy, the QSSHE policy.
Fundamentally, our biodiversity policy aims to reduce our environmental footprint by:
- Designing and managing our facilities to avoid and mitigate against adverse impacts on biodiversity values; and
- Operating our facilities responsibly, especially in areas with sensitive biodiversity values.
- Determining to ‘No Net deforestation’; the future reforestation to compensate, where possible, the current forest loss or future implementation.
IRPC and Subsidiary performance will be guided by our efforts to protect and manage biodiversity. This means that we will:
- Integrate biodiversity assessment and management through our QSSHE policy;
- Manage biodiversity values by operating in or near areas with sensitive biodiversity values in compliance with required regulatory standards;
- Apply operating practices that avoid and mitigate against biodiversity loss
- Achieve a no-net-loss of biodiversity values; and
- Avoid to explore/ mine/ drill in World Heritage areas and IUCN Category I
Our actions will include:
- Assessing the potential risk and impact of our activities on biodiversity values;
- Conducting our operations responsibly in all areas, including environments with sensitive biodiversity values;
- Identify actions to avoid and mitigate against adverse impacts to biodiversity values;
- Apply the “mitigation hierarchy” in a step by step process by avoiding impacts on high biodiversity values; mitigating any impacts by improving biodiversity values and consider offsetting any residual losses;
- Seek ways to make positive contributions to biodiversity conservation;
- Integrating the identification, evaluation, management and monitoring of biodiversity values into our Due Diligence; Environmental Impact Assessment; and Risk Management processes;
- Engaging communities and key stakeholders to enhance biodiversity outcomes through consultation, constructive relationships, and partnerships; and
- Communicating our biodiversity-related activities to local communities, employees and the public.
We will measure our performance on managing biodiversity and ecosystem services by:
- Measuring the risk that our operations pose to biodiversity values;
- Regularly monitoring biodiversity values were we are required to do so; and
- Regularly auditing our performance against our values and actions to ensure that we operate effectively.
IRPC Biodiversity Statement [link]
Biodiversity Risk Assessment [link]