SUSTAINABILITY
We contribute to the world’s sustainability by providing reliable, affordable and lower-carbon oil and gas.
Have a look at our Sustainability Reports
Environmental and Climate
Change Management
Change Management
We aspire to become net zero in scope 1 and 2 GHG emissions in 2026.
• Our priority is to continue reducing our operational carbon footprint by implementing technologies currently available to us.
• We forecast to reduce scope 1 & 2 emissions intensity to 7 kgCO2e/boe by 2026, a 82% decrease compared to 2020.
•In 2023 we achieved:
•14% y-o-y scope 1 and 2 GHG emissions intensity reduction, to 15.6 kgCO2e/boe.
•13% y-o-y scope 1 and 2 absolute GHG emissions reduction, to 308 MTnCO2e.
•Initiated a transformative project to progressively electrify our development hub with renewable energy, starting with the electrification of a drilling rig and a gas compressor station.
• In 2022, we founded Aike a Nature Based Solutions (NBS) venture which designs, manages and executes carbon capture projects, staffed with leading local experts, to offset our remaining carbon emissions. It is currently executing 9 NBS projects for Vista in Argentina, spanning over 26,000 hectares, across 4 provinces.
Signatory to the United Nations Global Compact
In August 2020 we officially joined the United Nations Global Compact program supporting the Ten Principles in the areas of Human Rights, Labor, Environment and Anti-corruption.
By doing so we committed to implementing these principles, incorporating them as part of Vista’s business strategy, culture and day-to-day operations.
Get to know our adherence
By doing so we committed to implementing these principles, incorporating them as part of Vista’s business strategy, culture and day-to-day operations.
Get to know our adherence
United Nations Sustainable Development Goals
In 2015 the United Nations General Assembly adopted 17 Sustainable Development Goals (SDGs) that set the global agenda for equitable, socially inclusive and environmentally sustainable economic development to achieve worldwide prosperity by 2030.
We have identified the goals on which we can have the greatest impact, upheld by initiatives to achieve short-term targets as well as forward-looking sustainable development programs.
We have identified the goals on which we can have the greatest impact, upheld by initiatives to achieve short-term targets as well as forward-looking sustainable development programs.
ESG MATERIAL ASPECTS
Materiality assessment
We listed the most common ESG issues related to the hydrocarbon industry and consulted with certain stakeholders. Based on their responses, we identified 14 issues that are relevant to Vista’s operation in a global business scenario.
Material Issues
According to our stakeholders, the following are the most relevant material issues related to our operations:
► Environmental and climate change management
► Social engagement
► Safety management
► Diversity
► Corporate Governance
For a complete description of our material issues please visit our material issues please visit our Sustainability Report
2023 Sustainability Report
We listed the most common ESG issues related to the hydrocarbon industry and consulted with certain stakeholders. Based on their responses, we identified 14 issues that are relevant to Vista’s operation in a global business scenario.
Material Issues
According to our stakeholders, the following are the most relevant material issues related to our operations:
► Environmental and climate change management
► Social engagement
► Safety management
► Diversity
► Corporate Governance
For a complete description of our material issues please visit our material issues please visit our Sustainability Report
2023 Sustainability Report
Social Engagement
We contribute to the strengthening of communities with projects in five themes: Education, Inclusion and values in sports and health, Local development, Institutional strengthening and Infrastructure.
• During 2023, Vista voluntarily contributed a total of 980 $M to communities in Argentina and Mexico, a 28% increase vis-à-vis 2022.
• Conducted a comprehensive social baseline assessment across three local communities, providing valuable insights for our 2024-2026 plan.
• Initiated a scholarship program with NGO Cimientos, aimed at fostering educational opportunities for underprivileged youths in local communities.
• Launched a STEM scholarship fund totaling 2 $MM in collaboration with the Instituto Tecnológico de Buenos Aires, a top-tier university, with focus on empowering students from disadvantaged backgrounds and promoting gender equality in STEM fields.
• Designed our social investment plan for the years 2024-2026, with focus on enhancing STEM education and extending our positive influence over local communities (Añelo and Rincón de los Sauces).
Community feedback
Safety Management
We take safety as a critical pillar of our business development.
We made solid progress since we took over the operation of our assets in early 2018. We created a high-performance safety culture among our employees and contractors through the implementation of a corporate Operating Management System in line with IOGP/IPIECA guidelines.
We have implemented robust safety programs (such as the Life Saving Rules), improved reporting capabilities, and established strategic partnerships with our main contractors (One-Team), sharing the same vision, project objectives and performance incentives.
• We had 0 fataltities between 2019 and 2023.
• In 2023, our TRIR (Total Recordable Injury Rate) was 0.18 on a consolidated basis (for our employees and contractors), our best performance since inception and below 1 for the fourth consecutive year.
We have implemented robust safety programs (such as the Life Saving Rules), improved reporting capabilities, and established strategic partnerships with our main contractors (One-Team), sharing the same vision, project objectives and performance incentives.
• We had 0 fataltities between 2019 and 2023.
• In 2023, our TRIR (Total Recordable Injury Rate) was 0.18 on a consolidated basis (for our employees and contractors), our best performance since inception and below 1 for the fourth consecutive year.
DIVERSITY MANAGEMENT
We believe in the value of developing an organizational culture that respects individualities and promotes diversity, equity, and inclusion (DEI) at all levels.
We are confident that DEI initiatives, in general, will help us create a more sustainable and better world and company, driven by a stronger team capable of producing better results. The program is composed of 4 strategic levers: Leadership, Workplace, Supply chain and Community.
It is led by our Human Resources team, supported by a group of 14 employee volunteers, and sponsored by members of the Leadership Team. The Board of Directors and Executive Team set general guidelines, monitor and support its progress.
Key milestones of the year 2023:
We are confident that DEI initiatives, in general, will help us create a more sustainable and better world and company, driven by a stronger team capable of producing better results. The program is composed of 4 strategic levers: Leadership, Workplace, Supply chain and Community.
It is led by our Human Resources team, supported by a group of 14 employee volunteers, and sponsored by members of the Leadership Team. The Board of Directors and Executive Team set general guidelines, monitor and support its progress.
Key milestones of the year 2023:
• 26% of new hires were women, which contributed to increasing female participation by 2 p.p. to 24%.
• 36% of the total promotions were women, which improved female representation in middle management positions.
• We launched a new edition of the mentoring program for female talent, with 17 committed young professionals.
• We updated Vista's policies to extend paternity leave and graduated return to work benefits.
• We conducted three awareness sessions led by DEI experts, totaling 1,167 hours of training.
Corporate Governance
Vista is committed to implementing sound, transparent corporate governance principles that strengthen confidence and trust with our stakeholders.
Board of Directors
Our Board of Directors is composed entirely of world class professionals.
• 83% of Board members are independent.
• 100% of Board committee seats occupied by independent board members.
• A Corporate Practices Committee oversees the Corporate Risk Management process to ensure we achieve our long-term strategic goals.
2023 PROGRESS
• We strengthened our governance by making public our policies related to business ethics, and increased training hours for staff on these matters.
• We achieved NIST (National Institute of Standards and Technology of the USA) cybersecurity score of 3.65 and recorded zero critical cybersecurity incidents.
• We approved a policy for the recovery of erroneously awarded compensation in line with new SEC and NYSE regulations.
• We released updated Code of Ethics and Conduct, reflecting the new Vista Way code of values, increased focus on Diversity, Equity, and Inclusion and updated content following the release of business ethics policies.
• Our employees achieved 4.9 hours/employee in ethics and compliance training (+4% year-on-year) in 7 different training and awareness sessions.
• We recorded zero incidents of corruption in 2023.
Whistleblower Channel
In collaboration with BDO, a leading auditing and consulting firm, we offer whistleblowing channels accessible to anyone directly (employees, directors, shareholders) or indirectly (service providers, contractors, consultants, advisors and any other third party) related to our company.
These channels are available for reporting suspected violations of our Code of Ethics and Conduct. Reports can be made anonymously, if preferred.
This procedure ensures the confidentiality of all registers and ensures that there will be no retaliation against those who report in good faith.
These channels are available for reporting suspected violations of our Code of Ethics and Conduct. Reports can be made anonymously, if preferred.
This procedure ensures the confidentiality of all registers and ensures that there will be no retaliation against those who report in good faith.
THE CHANNELS ARE
Argentina
Toll Free Line: 0800-34-LÍNEA (54632)
Access online: https://www.bdolineaetica.com/vista
E-mail: vista@bdolineaetica.com
Mexico
Toll Free Line: +(52) 55-4166-0170
Access online: https://www2.bdolineaetica.com/vista/
E-mail: denunciavista@bdomexico.com
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