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DEA joins UN Global Compact

DEA Deutsche Erdoel AG has joined the UN Global Compact – the world’s biggest and most important initiative for responsible corporate governance.

The signers rely for guidance on ten universal principles in respect to human rights, labour standards, environment and anti-corruption.

By officially joining this alliance, DEA underscores its commitment to and participation in making globalisation more socially and ecologically compatible. “We look forward to cooperating with the Global Compact network and exerting a fruitful influence on the further development of our company,” emphasizes Maria Moræus Hanssen, CEO of the Hamburg-based exploration and production company.

By joining the UN Global Compact, the participating companies communicate their corporate activities to foster sustainable development on an annual basis. Sustainability and transparent communication are very important to DEA. DEA has been publishing its reporting on environmental topics for over 20 years now.

In its recently released 2017 / 2018 Sustainability Report DEA offers examples how it is operating on an international scale, consistently pursuing its objective to extract crude oil and natural gas on a long-term and sustainable basis, with the approach of operational excellence and in a safe and ecology-minded fashion. In the Report, DEA’s sustainability principles, stakeholder compliance dialogue, data and quality management are explained along with DEA’s extensive international activities in the areas of environmental and health protection, occupational safety and employment-related matters.

The Report shows that in a peer comparison conducted by the International Association of Oil and Gas Producers (IOGP) DEA is amongst the very best achievers in the industry on emissions and energy consumption per production unit. This is also reflected in a low carbon footprint of 1.9 kg of carbon dioxide equivalent per self-produced barrel of oil equivalent. DEA’s total expenditure on environmental protection again was correspondingly high in 2017, amounting to 85 million Euros.

In terms of employment relations, DEA has identified demand for more diversity. Maria Moræus Hanssen, at the helm of the company since the beginning of 2018 calls for further initiatives: “We will need to further intensify our efforts on the subject of diversity. Our aim is to increase the ratio of female to male employees at all levels by the year 2022 and, in particular, also to substantially boost it at the two managerial levels below the Management Board.”

Sustainability aspects are very closely associated with public acceptance of the activities carried out by DEA, with its reputation as a fair and reliable employer as well as its growth opportunities and financing capabilities. Accordingly, DEA consistently continues to further develop its sustainability strategy.

Link to download of Sustainability Report (PDF format):