An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Texas Pacific Land Corporation Releases Inaugural ESG Disclosure
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
DALLAS--(BUSINESS WIRE)--
Texas Pacific Land Corporation (NYSE: TPL) (the “Company” or “TPL”) today announced the release of its inaugural Environmental, Social, and Governance (“ESG”) disclosure. The disclosure can be found at www.texaspacific.com/esg and provides information related to the Company’s ongoing commitment to its community, its stakeholders, and its ESG objectives. TPL’s disclosure is aligned with leading sustainability frameworks and reporting standards, including the Sustainability Accounting Standards Board (“SASB”) framework and elements of the Global Reporting Initiative’s (“GRI”) framework.
“We are excited to release our inaugural ESG disclosure, which is a reflection of our existing commitments and priorities surrounding sustainability and social responsibility,” said Tyler Glover, TPL’s Chief Executive Officer. “Over the past year, TPL has undertaken a comprehensive ESG assessment and developed an ESG program that will allow the Company to steadily build upon our sustainability objectives. I am proud of our team’s commitment and execution towards the Company’s ESG objectives. TPL is uniquely positioned to provide collaborative opportunities with customers and companies that operate on our land to drive sustainability and to ensure that our industry benefits all stakeholders.”
Key highlights from the report include:
A snapshot of our materiality assessment results and guiding ESG topics
The Company’s new governance framework and Board of Directors
A record of zero fatalities, zero lost time incidents, and zero total recordable incidents in 2020
The Company’s record of spill prevention and environmental management
Our response to COVID-19 across our workforce and operations
Our commitment to human capital management across employee engagement, education, and professional opportunities
The commitment of our Board of Directors to drive our long-term growth, economic performance, and sustainability and ESG objectives
Our ability to retain 96% of our employees in 2020
The release of our ESG disclosure reflects our commitment to long-term sustainability practices and is designed to help our stakeholders better understand TPL’s commitment and efforts regarding environmental stewardship, social responsibility, strong corporate governance, and deeply held core values.
About TPL
Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 880,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and seismic and temporary permits related to a variety of land uses including midstream infrastructure projects and hydrocarbon processing facilities.
texas pacific land trust was created in 1888 as a result of a reorganization of the texas and pacific railway company following receivership. holders of texas and pacific railway company bonds received 3.5 million acres of land in texas which had been earned by the railroad and pledged as security against bonds. the bondholders created the trust and converted bonds to shares of proprietary interest in the trust. the trust was created to manage and sell the land. today the trust is one of the largest landowners in texas with around 888,333 acres located in eighteen different counties. texas pacific land trust derives revenue from all avenues of managing the land, i.e. oil and gas royalties, grazing leases, easements, sundry and specialty leases, and land sales. the trust has a perpetual oil and gas royalty interest in some 459,200 acres.
