2023
Sustainability Report

Buru Energy Limited 2023 Sustainability Report for the year ended 31 December 2023

Chief Executive Officer’s Letter

I am proud to present Buru Energy’s 2023 Sustainability Report. This report offers insights into Buru Energy’s operations and our commitment to our environmental and social responsibilities at a time when energy security, affordability and environmental sustainability are front of mind for the energy industry, governments, communities, and investors.

At Buru Energy, our purpose is to bring energy resource developments to life in a way that creates long term value for our stakeholders, including the communities and Traditional Owners of the lands on which we operate, our employees, joint venture partners, suppliers, and our shareholders.

Our vision is to be a premier Australian diversified energy company, committed to business and financial success that has a positive impact on society and the environment.

We aim to contribute to Australia’s future energy landscape by exploring for, and developing energy sources that support Australia’s transition to a low carbon economy. For us, this includes lower emissions intensity gases such as helium and hydrogen, as well as traditional hydrocarbons to support the transition to renewables, while developing Carbon Capture and Storage (CCS) capabilities.

About This Report

This Sustainability Report outlines the Environmental, Social and Governance (ESG) performance relating to Buru Energy Limited’s (Buru’s) material impacts for the year ending 31 December 2023. It includes performance against specific targets as well as information on how Buru manages impacts related to each material topic. These reports aim to measure Buru’s positive and negative impacts over time with the intention of further developing sustainable business practices and goals. Buru conducts its annual sustainability reporting in alignment with its annual financial reporting cycle. This Sustainability Report has been reviewed and approved by Buru’s Board.

This report has been authored by MCC Sustainable Futures in collaboration with Buru Energy.

Frameworks and Standards

This report has been prepared in accordance with:

The Global Reporting Initiative’s sector standard GRI 11: Oil and Gas Standard (2021), as well as the GRI Universal Standards (2021); and
The recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

For increased transparency and reliability, this report has also been informed by:

The International Petroleum Industry Environmental Conservation Association’s (IPIECAs) Sustainability Reporting Guidance for the Oil and Gas Industry and SDG Roadmap for the Oil and Gas Sector; and
The United Nations Sustainable Development Goals (UN SDGs).

Reporting Scope and Boundaries

Buru is committed to transparency in our sustainability reporting and to continuous improvement in ESG disclosures across material impact topics. Consistent with this commitment, Buru continues to report on a combination of both the ‘equity share’1 and ‘operational control’2 basis across its activities.

For Buru’s own operations, subsidiaries or joint venture partnerships, the following reporting boundaries are in place:

All oil and gas projects have been included in the scope of this report on an operational control basis, with GHG emissions also reported on an equity share basis.
Battmin, Geovault and 2H Resources are all 100% Buru owned subsidiaries included in Buru’s financial and annual reporting and have been considered3 within the boundary of this sustainability report; however, they currently have no operational data so have been discussed in a qualitative manner only.