ESG & Sustainability

Environment

Our aim is to provide the highest standards in our products and services, and we manage our activities to minimise, wherever practicable, their effect on the environment. In this we are committed at all levels and within all functions of the Prax Group to continual improvement. We recognise that this will only be achieved through regular monitoring of our environmental performance against objectives regulated by a committed management system.

The Prax Group minimises adverse effects on the environment, as far as reasonably possible, by applying the following practices:

Monitoring Emissions
Controlling, monitoring and measuring emissions to air, water or land to meet, as a minimum, the obligations placed upon us by legislation or regulatory requirements.

Biodiversity
Conserving biodiversity by protecting flora and fauna.

Control Pollution
Using processes, practices and materials that avoid, reduce and control pollution.

Standards
Taking the necessary preventative measures to control any nuisance emissions in accordance with 
the requirements of national and local standards.

Waste Hierarchy
Implementing the Waste Hierarchy of Reduce / Reuse / Recycle, as far as reasonably practicable.

Our Future Is Green – Why Sustainability Is Central To Our Business Model

The impact of climate change on our planet is significant and undeniable. We presently face a dual challenge: how to proceed to a low carbon future, while simultaneously fulfilling the world’s need for affordable energy. Whether it be for heating, transportation or providing access to healthcare, energy is essential to human life.

The foundation of the Prax Group is built on technical expertise, business acumen, strong partnerships and a proven ability to deliver sustainable results. This is based on five key pillars:

1. Our belief that mitigating carbon and other emissions is good for the planet, for the communities in which we work and for our company.

2. Our engagement with our people and being a respectful neighbour in all the communities in which we work.

3. Our conviction that affordable, ever-cleaner fuel resources are a critical driver of global economic growth.

4. Our awareness of our role in the United Kingdom’s energy infrastructure and energy security, and the responsibilities that come with it. This responsibility extends to all the markets in which we operate.

5. Our corporate and contractual responsibilities that ensure that we comply fully with all laws and regulations in every jurisdiction in which we operate.

In order to play our part in contributing to the sustainable development of the planet, the Prax Group has committed to:

  • A 65% abatement by 2030 of the greenhouse gas impact from operations, which includes both the direct emissions on site (Scope 1 of the GHG Protocol) and the indirect emissions by third parties producing the energy used in the Group’s operations (Scope 2 of the GHG Protocol).
  • A 20% reduction (compared to fossil fuels) by 2030 of the Carbon Intensity of the transport fuels marketed by Prax to all our direct commercial and retail customers (Scope 3.11 of the GHG Protocol).

These reductions in emissions will primarily be driven by an ambitious regional Carbon Capture and Storage (“CCUS”) project, investments in energy efficiency and increasing use of biofuels. Reducing the carbon intensity of our fuels will be achieved primarily by the use of low-carbon, sustainable biofuels, blended in our main grades of gasoline, jet and diesel but also increasingly marketed by Prax as bespoke low-carbon fuels, such as HVO100. We will monitor, report and proactively manage the delivery of these emission reductions in line with the targets set by the Group for the year 2030.

Carbon capture, utilisation and storage will be an indispensable tool in global efforts to combat climate change and reach net zero emissions.  We have a collective responsibility to reduce emissions and decarbonise in line with international agreements.  So, while we make energy accessible, affordable and sustainable, it is only part of our story.

We are very proud of the work that we have done but we also believe that we are just beginning.  We will continue to develop ambitious programmes and targets to achieve our goals and improve the way we measure our progress.