International Petroleum Corporation (IPC) is an entrepreneurial, value-driven team bringing energy to the world with operations in Canada, France and Malaysia. With the Foundation’s support, the company is increasing its sustainability practices by responsibly developing its assets to minimize environmental impacts while supporting the economic and social well-being of stakeholders and the communities in which it works.
The Foundation worked alongside IPC in 2022 to begin implementation of the integrated sustainability strategy. For example, IPC’s Sustainability Working Groups helped to identify and launch critical initiatives achieved across all its six sustainability pillars. The Foundation was also instrumental in helping to compile relevant sustainability-related information for S&P Global’s Corporate Sustainability Assessment. The questionnaire results demonstrated significant progress in sustainability performance, with a rating in the top quartile amongst industry peers.
Given the enhanced stakeholder pressure to address climate change, the Foundation supported IPC in aligning with the TCFD. The result was the development of the company’s first-ever TCFD-aligned reporting, which continues to support the next steps required to align with the guidance.
Additionally, the Foundation worked alongside senior leadership across all IPC asset locations to create a comprehensive Community Investment Framework that identified strategic areas of community investment. The framework provides IPC with a formal and structured process that supports a decision-making system to allocate resources for greater social impact.
As we advance, IPC and the Foundation are developing educational materials for a four-part ESG education series to build awareness across the company on crucial sustainability topics relevant to the oil and gas industry. With a critical lens on its most material issues, IPC will continue to move its sustainability strategy forward with ongoing reassessment and collaboration with location-specific ESG Task Forces to drive initiatives with impact.
“The Lundin Foundation has been a tremendous support to IPC in our sustainability and community investment strategy development. By working with the Foundation, we can draw on resources and expertise that are beyond our internal capacities and elevate our teams’ understanding of key sustainability topics impacting our business.”
– Zoë Falquet, Sustainability Manager, IPC
UN Sustainable Development Goals
Our initiatives strive to improve people's lives and protect the planet and are in support of the following UN SDGs: