ITHACA ENERGY PLC.
ITH.LSE | Extraction of crude petroleum
Ithaca Energy PLC is an independent oil and gas company focused on the North Sea. It is involved in the exploration, development, and production of oil and natural gas. The company's operations include interests in various producing fields and development projects in the UK Continental Shelf (UKCS)....Show More
Better Health for All
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Ithaca Energy's core business of oil and gas production has severe, widespread negative health impacts, with 100% of its revenue derived from these activities. The company's operations generated significant health-harming externalities in 2024, including 501,720 tonnes of Scope 1 CO2e emissions, 24.7 tonnes of oil discharged to sea, and 9,621 tonnes of permitted chemicals.
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Despite this, Ithaca Energy has substantial remediation efforts, targeting a 50% reduction in net equity emissions and zero routine flaring by 2030, and achieving an emissions intensity (19.1 kg CO2e/boe) below the UK average.
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The company also faces significant safety concerns, evidenced by a £300,000 fine in 2025 for a 2020 incident involving three offshore workers and 27 unplanned releases in 2024.
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In contrast, Ithaca Energy provides comprehensive internal mental health support for its employees, including an Employee Assistance Programme, mental health first aiders, wellbeing education, and participation in a 10-point plan for North Sea workers.
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It also supports external mental health charities and created a sensory garden for students.
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Most other health-related KPIs are not applicable as the company does not offer health products or services.
Fair Money & Economic Opportunity
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No evidence available to assess ITHACA ENERGY PLC on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
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No evidence available to assess ITHACA ENERGY PLC on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
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No evidence available to assess ITHACA ENERGY PLC on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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Ithaca Energy PLC's board comprises 55.55% independent directors (5 out of 9).
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The company reported one financial restatement for the year ended 31 December 2023, related to deferred EPL tax treatment, which averages to 0.2 restatements per year over the past five years.
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An Anti-Bribery and Corruption Policy is in place, enforcing a strict zero-tolerance approach, with regular training and a risk-based due diligence process for third parties.
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The company also has a Whistleblowing Policy with an independent external helpline provider, encouraging reporting without fear of victimisation or reprisals, and training is provided during induction and regularly thereafter.
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No regulatory fines were incurred in the past three years.
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Kind to Animals
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Ithaca Energy PLC is an oil and gas company, and its core business model does not involve activities directly related to most 'Kind to Animals' Key Performance Indicators. The company does not produce products requiring cruelty-free certification or animal testing, nor does it engage in animal agriculture or source animal-derived ingredients. Its R&D investments and public policy engagement are focused on environmental and decarbonization efforts, not specifically animal welfare. While its operations impact wildlife habitats, the provided evidence details regulatory compliance, mitigation efforts, and general environmental protection, but lacks specific measurable biodiversity impact or species recovery metrics from its own conservation initiatives to assign a score for that KPI.
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No War, No Weapons
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The provided articles, which primarily focus on financial performance, operational highlights, and strategic direction within the oil and gas sector, do not contain any explicit information regarding Ithaca Energy PLC's involvement in arms manufacturing, military contracts, dual-use technology, sales to embargoed regimes, peacebuilding investments, or any other specific ethical considerations related to war and weapons. Therefore, no KPIs could be scored based on the evidence provided.
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Planet-Friendly Business
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No evidence available to assess ITHACA ENERGY PLC on Planet-Friendly Business.
Respect for Cultures & Communities
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Ithaca Energy PLC had 5 formal partnerships with local community groups in 2024 and is transitioning to 4 new partnerships for 2025.
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No cultural appropriation incidents have been reported.
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Safe & Smart Tech
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No evidence available to assess ITHACA ENERGY PLC on Safe & Smart Tech.
Zero Waste & Sustainable Products
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No evidence available to assess ITHACA ENERGY PLC on Zero Waste & Sustainable Products.