Sustainability Report 2024

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Sustainability Report 2024

Metrics and Targets

Metrics and Targets for Achieving Zero Major Incidents

We have defined fatalities, serious injuries, and major leaks as major incidents that must never occur during our operations. We set "Zero Major Incidents" as one of our management targets and subsequently set common safety targets covering all employees. In FY2024, we achieved our goal of zero major incidents.

Other Metrics and Targets

To quantitatively measure our safety performance, we monitor two safety metrics of injury-causing incidents for all employees and contractors involved in our projects: the lost time injury rate (LTIR)1 and the total recordable injury rate (TRIR)2. We gather such data in accordance with reporting guidelines defined by IOGP. We also monitor our progress toward the targets we have set while benchmarking ourselves against IOGP participating companies.

Our LTIR and TRIR for FY2024 were 0.45 and 1.95 respectively, representing a year-on-year improvement for both metrics, but we did not achieve our targets. A Tier 1 process safety event3 also occurred at the Ichthys LNG onshore facility, where a damaged seal on a pressure-reducing valve was found to have caused a gas leak. When the leak was detected, we immediately shut off the relevant lines, repaired the valve and took steps to investigate the cause and prevent a recurrence.

1Rate of fatalities and injuries resulting in lost time per million hours worked

2Rate of fatalities, injuries resulting in lost time, and injuries not resulting in lost time or requiring medical treatment per million hours worked

3Tier 1 and Tier 2 process safety events are unexpected releases or leakages of substances including flammable liquids. In line with IOGP requirements, we classify and report such events as Tier 1 or Tier 2 depending on the degree of consequence (personal harm, direct cost to the Company, type and quantity of material released, etc.).

Incident Prevention Efforts

Incident Prevention Efforts (graphic)

HSE-related Targets and Results (FY2024 HSE Objectives)

Evaluation of HSE objectives in FY2024, including environment-related objectives and future actions are detailed below. Please refer to the Biodiversity Conservation and Environmental Pollution Measures sector for details on our initiatives related to the environment.

FY2024 HSE Objectives

1. Strengthen incident prevention efforts

FY2024 objectives

Evaluation

Evaluation and future actions

Quickly share incident information and lessons, and analyze trends such as root causes. Also, conduct thorough safety education and dialogues with employees and contractors.

Poor

  • Despite INPEX Group-wide LTIR and TRIR declining slightly from last year (2023: LTIR 0.51, TRIR 2.17/2024: LTIR 0.45, TRIR 2.06), still failed to achieve IOGP average levels (Ref. 2023: LTIR 0.24, TRIR 0.84).
  • One Tier 1 process safety incident occurred at Ichthys LNG.
  • Rolled out and conducted a Group-wide "safety month" campaign due to reduced safety performance, and conducted awareness-raising activities focused on analysis-based incident factors.
  • Planning to enhance safety education and HSE management to reduce the number of incidents among contractors, where the majority of injury-causing incidents occurred.

2. Further improve process safety management through systemic programs

FY2024 objectives

Evaluation

Evaluation and future actions

Steadily conduct initiatives for asset integrity and process safety management based on the roadmap.

Good

  • Developed a mechanism for managing necessary process safety-related competency and conducted a trial adoption of the mechanism to assess competency at projects in Japan. Issued the first edition of process safety competency management guidelines. Planning to start rolling out the mechanism to operational organizations in the future.
  • Improved visualization of process safety risks at Ichthys LNG. Planning to add further improvements to the Group-wide HSE risk management and reporting process in the future.
  • Acquired practical knowledge of hydrogen and ammonia safety design and assessment through design operations across multiple projects.
  • Held awareness-raising seminars at head office and each site in Japan to further instill the Process Safety Fundamentals (PSF) and improve awareness of process safety.

3. Help to address global environmental challenges and create environmental value

FY2024 objectives

Evaluation

Evaluation and future actions

Build foundations for Group-wide environmental and social impact management. Promote Group-wide studies to reduce GHG emissions and help to address global environmental challenges.

Good

  • Developed a structure for reducing GHG emissions through a collaboration with the Climate Change Strategy Group and Technical Strategy & Project Support Unit. Officially joined the Oil & Gas Methane Partnership 2.0 (OGMP 2.0) and started reporting on methane emission management. Achieved the Gold Standard Pathway.
  • Conducted trial assessments of biodiversity in compliance with requirements of the Taskforce on Nature-related Financial Disclosures (TNFD) at each operational organization. Identified interfaces with nature, and impacts and dependencies, at each operational organization.
  • Set measurable quantitative targets for biodiversity, waste management, and water management.

4. Prepare for emerging threats

FY2024 objectives

Evaluation

Evaluation and future actions

Enhance preparations for emerging threats by checking and revising plans for cyber security, natural disasters, and geopolitical risks.

Good

  • Continuing to conduct emergency response drills for natural disasters and geopolitical risks at each organization.
  • Established emergency response plans anticipating geopolitical risks at several overseas sites, and conducted regular drills.
  • Conducted corporate crisis response drills anticipating an earthquake in the Tokyo metropolitan area.
  • Held several seminars by external experts on safety during overseas business travel.

5. Reinforce health management and measures for infectious diseases

FY2024 objectives

Evaluation

Evaluation and future actions

Work to improve health management and performance, including the areas of mental health, infectious diseases, and fatigue control, in line with the Corporate Health Management Standard.

Good

  • Continuing to conduct regular stress checks to promote mental health.
  • Held mental health seminars by specialists for employees in Japan.
  • Implementing a peer support program at Ichthys LNG, and providing regular visits by psychologists to operational sites and offices.
  • Enhancing measures against heatstroke at worksites.

6. Demonstrate HSE leadership and improve effectiveness of the HSEMS

FY2024 objectives

Evaluation

Evaluation and future actions

Use results of the HSEMS gap analysis and corporate HSE audits to improve the effectiveness of the HSEMS. Also improve audit quality and ability.

Good

  • Conducted six management site visits to sites of organizations in Japan and overseas.
  • Expanding the scope of informal meetings and inspections during site visits to organizations in Japan.
  • HSE personnel participating in each project review, and checking the readiness of HSE structures and HSE management documents.

7. Enhance HSE competency and secure personnel

FY2024 objectives

Evaluation

Evaluation and future actions

Create a plan for mechanisms to develop HSE personnel and improve the HSE competency of employees.

Good

  • Corporate sent process safety engineers and environmental specialists to organizations in Japan and overseas.
  • HSE advisors from Ichthys LNG sent to corporate divisions for the short term.
  • HSE Forum held for HSE personnel from organizations in Japan and overseas to gather and share their experiences and lessons across the Group.

8. Implement HSE management for the five net zero businesses

FY2024 objectives

Evaluation

Evaluation and future actions

Actively participate in and support HSE management for projects of the five net zero businesses.

Good

  • Continued HSE management in the five net zero businesses, including the Hirai Blue Hydrogen, Nagaoka Methanation Demonstration, and Okuhida geothermal well drilling projects, and worked without any major incidents. (No major incidents)
  • Officially selected for the Tokyo Metropolitan Area CCS Project after public offering of commissioned work by Japan Organization for Metals and Energy Security (JOGMEC), and started to develop the HSE management structure.