Leading energy and infrastructure conglomerate, Sahara Group has stated its commitment to transform into a net zero business entity by 2060 as it continues to align operations to facilitate greener and cleaner energy solutions.

Ejiro Gray, Director, Governance and Sustainability, Sahara Group, disclosed this during the presentation of Sahara Group’s 2022 sustainability report, titled, “Energising Innovative Solutions for Sustainable Development.”

“We have initiated the development of our Energy Transition Plan, which outlines a comprehensive framework of short- to long-term energy transition actions, accompanied by our resolute commitment to reducing our operational carbon footprint,” Gray said, adding that it was Sahara Group’s aspiration to transition into a net zero business entity before or by the year 2060.

“To this end, we aim to launch projects that will provide evidence-based insights regarding how to mitigate, reduce and eliminate our operating emissions, setting ambitious yet achievable targets for operational efficiency. As a global energy firm that plays a distinctive role in powering economic growth, we recognise the inherent responsibility we bear in contributing to the realisation of an equitable energy transition strategy,” she said.

Gray said the plan would cover Sahara Group’s operations in upstream, midstream, downstream, power and infrastructure sectors in over 42 countries across Africa, Asia, Europe, and the Middle East.

“As a foremost energy conglomerate invested in bringing energy to life responsibly, we consider our net zero plan as integral to the sustainability of our business and more importantly, our contribution to global efforts geared towards building a healthier, cleaner and more productive planet Earth for future generations,” she said.

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Gray said Sahara Group conducted a thorough GHG (Greenhouse Gas) emissions audit across its businesses for the 2019-2021 period, establishing baseline data for scope 1 and 2 emissions. “This enables us to effectively analyze, track, and control our environmental impact in a transparent and consistent manner. The collected data will inform our efforts to mitigate environmental risks and align with our Energy Transition Plan,” she explained.

Sahara Group’s 2022 sustainability report provides critical information regarding the environmental, social, and corporate governance impacts resulting from its business operations spanning January 1 to December 31, 2022.

The scope of the report encompasses the following businesses within the Sahara Group: Upstream Operations (Asharami Energy), Midstream Operations (Sahara Trade), Downstream Operations (Asharami Synergy), Power (Generation and Distribution) – Egbin Power, First Independent Power Limited (FIPL) and Ikeja Electric (IE). It also includes a report on the Group’s Social Impact vehicle, the Sahara Group Foundation.

“As a prominent business within our industry, we surmounted numerous challenges in 2022, achieving noteworthy performance across the economic, social, environmental, and governance indicators. We would like to express our sincerest appreciation to all those who have placed their trust in our commitment to conducting business in a sustainable and responsible manner,” Gray stated.

An integrated approach was adopted in the report, leading to consolidated disclosures across the Group, while performance was documented across four fundamental sustainability pillars: Principles of Governance, Planet, People, and Prosperity. These pillars serve as a framework in adherence to the Global Reporting Initiative (GRI) Standards, which facilitate robust measurement and reporting practices.