As an onshore operator on private lands in Texas, we believe Pioneer’s operational footprint limits the company’s exposure to national and international political and regulatory risks. Nevertheless, we remain committed to serving as a leader in climate and environmental stewardship issues. We seek to mitigate our climate-related risks by setting aggressive emission-intensity reduction targets, industry-leading flaring commitments and other emission-reduction actions described in this chapter. We actively assess pertinent regulatory and legislative actions and the increasingly growing number of formal climate-related policy proposals from both political parties at the state, national and international levels. We partner with trade associations, think tanks, academia and other stakeholders to engage in public-policy dialogue regarding climate change. Pioneer continually evaluates our trade association affiliations to ensure their respective public policy positions are consistent with the company’s commitments. Our current partnerships are included below.
| Advocacy and Stakeholder Collaboration | The Environmental Partnership | The Environmental Partnership provides a forum for participants to share information and analyze best practices and technological breakthroughs in order to help improve our understanding of emissions and how best to reduce them. For more information on how our actions are contributing to these industry goals, visit: theenvironmentalpartnership.org/annual-reports/2022-annual-report/. |
| Zero Routine Flaring (ZRF) Initiative | The World Bank ZRF Initiative commits governments and oil companies to end routine flaring by no later than 2030. The initiative aims to support cooperation between all relevant stakeholders so that solutions to gas flaring can be found through appropriate regulation, application of technologies and financial arrangements. | |
| Texas Methane and Flaring Coalition | To better assess the issues of methane emissions and flaring and develop industry-led solutions, a voluntary coalition of companies and organizations have joined together to form the Texas Methane and Flaring Coalition. The coalition will collectively identify and promote operational and environmental practices recommended to minimize flaring and methane emissions. |
Methane Emission Regulation
Pioneer actively supports effective and efficient industrywide methane regulation and has been a leader among independent oil and gas exploration and production companies in advocating our position. Throughout the past two years, Pioneer has engaged with the EPA, industry peers, and academic and non-government organizations, including the Environmental Defense Fund, on the Biden administration’s proposed methane regulations to foster thoughtful, creative solutions to lower methane emissions. Sensible methane regulation that balances the benefits of domestic natural gas production with environmental protection is necessary to elevate natural gas as a cleaner energy solution, thereby strategically positioning this valuable resource for growth and viability in the future. We seek reasonable regulations that provide certainty, incentivize action, drive performance improvements, support operational flexibility, facilitate proper enforcement, and encourage technological innovation, particularly in the rapidly evolving area of methane leak detection.