SUSTAINABILITY
As energy providers, we face the challenge of delivering reliable and affordable energy to meet rising global needs, while doing so with the lowest possible carbon emissions.
Read the message from our Chairman and CEO
Have a look at our Sustainability Reports
ESG Data Summary (Download Excel)
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 2024 we achieved:
•44% y-o-y scope 1 and 2 GHG emissions intensity reduction to 8.8 kgCO2e/boe.
•28% y-o-y scope 1 and 2 absolute GHG emissions reduction to 222 MTnCO2e.
•Continued our transformative project to progressively electrify our development hub with renewable energy, starting with the electrification of two drilling rigs and an electric gas compression 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 13 NBS projects for Vista in Argentina, spanning over 43,000 hectares, across 7 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:
► Environment
► Community engagement
► Health and safety
► Diversity, Equity and inclusion
► 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:
► Environment
► Community engagement
► Health and safety
► Diversity, Equity and inclusion
► 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 Rural development.
• During 2024, Vista voluntarily contributed a total of 2.2 $MM to communities in Argentina and Mexico, a 125% increase vis-à-vis 2023.
• Collaborated in the implementation of GenEra Neuquén, an initiative that seeks to strengthen technical education in the region and prepare the next generation of oil and gas industry workers.
• Continued our 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.
• Continued developing our social investment plan for the years 2024-2026, with focus on enhancing STEM education and extending our positive influence over local communities.
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.
• In 2024, our TRIR (Total Recordable Injury Rate) was 0.59 on a consolidated basis (for our employees and contractors), below 1 for the fifth 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.
• In 2024, our TRIR (Total Recordable Injury Rate) was 0.59 on a consolidated basis (for our employees and contractors), below 1 for the fifth 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 2024:
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 2024:
• Increased 3 p.p. to 29% the proportion of women in new hires.
• Increased female representation in middle management positions by 8 p.p., from 24% in 2023 to 32% in 2024.
• Executed a new edition of the mentoring program for female talent, with 20 committed young professionals.
• Consolidated the first year of the Move wellness program, designed to enhance employee wellbeing through tailored, employee-led initiatives across five key areas: physical, emotional, nutritional, financial, and social.
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 under NYSE listing standards and SEC, as well as, CNBV regulations
BOARD COMMITTEES
The Board is responsible for the oversight of our business, delegating some aspects of specific areas to its standing committees: Audit, Compensation and Corporate Practices.
Board nominations are submitted for consideration of the Company’s shareholders gathered at the Annual Shareholders’ Meeting, who will accept or reject the nomination. Additionally, Board members make their self-assessment evaluation on an annual basis, based on a questionnaire specially developed for that purpose
VISTA’S ESG GOVERNANCE
Vista’s Board of Directors oversees the execution of our sustainability strategy, as well as our risk management policies and procedures, including those related to climate action.
The Corporate Practices Committee specifically reviews the execution of our ESG plan on a quarterly basis, focusing on progress vis-à-vis annual targets, overall project execution and risk analysis. The Committee provides guidance and feedback to the ExecutiveTeam, and reports progress to the Board. This flow strengthens our decision-making progress and ensures we remain focused on achieving our ESG goals.
At a corporate level, we have a cross-functional working group, composed of members of our Leadership Team, in charge of executing Vista’s ESG projects. This group reports to our Executive Team on a monthly basis and, jointly with the Executive Team, to the Corporate Practices Committee on a quarterly basis
BOARD AND EXECUTIVE COMPENSATION
Our Board compensation is approved by our shareholders on an annual basis at the Annual Shareholders’ meeting, following the proposal made by the Board of Vista based on the recommendation of its Compensation Committee after reviewing peers group benchmarking. Our executive compensation program aligns company performance and executive pay. This pay-for-performance philosophy has three components: a monthly salary, an annual bonus linked to operational and financial results, and a long-term incentive payable in Company shares. Our compensation philosophy is designed to attract and retain highly trained, experienced and committed executives capable of creating value in a complex energy business landscape.
CORPORATE AND CLIMATE RISK MANAGEMENT
CORPORATE RISK MANAGEMENT
• Through our Enterprise Risk Management (ERM) process we identify and assess a broad spectrum of current and potential sources of risk, that may compromise our ability to operate safely and responsibly. Our Corporate Risk Matrix (CRM) helps us monitor risk sources, which include global macroeconomics, domestic economy, policy and regulation, labor and social issues, competitive dynamics, availability and quality of infrastructure and services, breaches in compliance, integrity of internal processes, and climate change. The CRM also maps our mitigation plans for each of the risks under analysis.
• The CRM is monitored by the Executive Team on an ongoing basis, and reported every quarter to the Corporate Practices Committee, which is responsible for reviewing and reporting to the Board. We constantly review the scope of our CRM.
CLIMATE RISK MANAGEMENT
• As an energy producer, we acknowledge that climate change has long-term consequences for our industry, as well as our Company. As a result, we seek to increase the resiliency of our business model, to prepare and react to climate-related risks. We also believe that strong corporate climate risk governance is foundational to the support of climate action.
• The ERM framework applies consistent and comprehensive risk management practices. Risks, including climate risks, are recorded in the CRM, which considers the risks, reviews the controls, assigns ownership of a risk and tracks mitigation plans. Climate risks are part of the process.
• Our CRM addresses relevant categories of climate risks including both transition and physical risks. Primary risks from climate change are classified in the following categories: Regulatory and legal, Market, Physical, Financial, Reputational, and Technological.
• 2023 Climate Risk Assessment Results
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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