Var Energi gets top ESG marks

Norwegian oil and gas producer Var Energi has been ranked A+ in Position Green's ESG100 report for environmental social governance (ESG) performance among the largest companies listed in Oslo, it reported on September 8.

According to the report, Var is rated among the top 5% of the 100 largest companies listed on the Oslo stock exchange for ESG performance. 

Grades awarded to companies were assessed by evaluating their reporting against 85 research questions based on sustainability reporting best practices. Var's performance was characterised by "excellent reporting," it said.

In June Var was also placed in the lowest risk group in the oil and gas industry and in the top 5% percentile of rated oil and gas producers by Sustainalytics ESG.

"We are determined to become a ESG leader on the Norwegian Continental Shelf, and the latest acknowledgement from Position Green is yet another step in the right direction," Var's senior vice president for safety and sustainability, Ellen Waldeland Hoddell said. "Thorough and credible ESG reporting is key when driving our operations towards more sustainable solutions. The top ranking is truly motivational."