Environment Policy
1. OBJECTIVE
The purpose of the Environment policy is to highlight the action that the company is taking to run our business in an ethical, environmentally sound and sustainable manner, by identifying, measuring, and if and where possible, offsetting the environmental impact of our multinational operations, while complying with international environmental regulations.
2. DISTRIBUTION
This Policy applies to all full-time employees of Rex International Holding Ltd (“Rex” or “Company”) and its subsidiaries (“Group”). This Policy shall be communicated through and made available through the Rex website.
3. ROLES AND RESPONSIBILITIES
The respective department heads and the management team are responsible for overseeing compliance to this Policy. For operational subsidiaries, the Chief Operating Officer (COO) is responsible for requiring country management to adhere to environment regulations of their respective jurisdictions, define environment objectives and targets, and attribute roles and responsibilities in their respective operations.
4. SCOPE
This policy sets out our approach to environmental sustainability, outlining expectations for day-to-day practices and decision-making that align with our commitment to responsible environmental stewardship.
5. ENVIRONMENTAL COMMITMENT
The Group's Environmental Commitment is three-pronged:
5.1 Identifying, measuring, and if and where possible, offsetting the environmental impact of our multinational operations
We measure our Greenhouse Gas (GHG) emissions in accordance with internationally recognised standards and would consider offsetting the environmental impact of our multinational operations by various means, such as purchasing high-quality carbon credits, or by participating in carbon capture & storage or hydrogen projects.
5.2 Reducing our impact on the environment through both global and local operations initiatives
5.2.1 Sustainable Workplace Practices
We are committed to reducing our organisational carbon footprint and promoting environmentally responsible practices across our offices and business functions. To this end, we:
- Encourage teams to reduce energy consumption and waste generation, including through the use of smart lighting systems and recyclable materials in office spaces.
- Promote sustainable consumption habits among employees wherever feasible.
- Strive to balance the use of virtual and physical meetings to effectively manage Scope 3 business travel-related emissions.
- Encourage teams to reduce energy consumption and waste generation, including through the use of smart lighting systems and recyclable materials in office spaces.
- Promote sustainable consumption habits among employees wherever feasible.
- Strive to balance the use of virtual and physical meetings to effectively manage Scope 3 business travel-related emissions.
5.2.1 Employee Engagement and Capacity Building
To foster a culture of sustainability and enhance awareness of ESG responsibilities across our workforce, we:
- Provide ad-hoc ESG-related training programmes to strengthen employee understanding of key environmental topics.
- Circulate regular electronic direct mailers to keep staff informed of relevant regulatory changes, emerging technologies, and industry best practices in environmental management.
5.2.3. Environmental Management in Exploration & Production (E&P)
Our local E&P operations are guided by strong environmental oversight, with efforts focused on minimising impact throughout the asset lifecycle. Our commitments include:
a) Environmental Reviews
We conduct regular environmental reviews covering:
- New facility siting, design, and construction
- Seismic or engineering surveys
- Drilling and workovers
- Operation and modification of existing facilities
- Site decommissioning, remediation, and reclamation
b) Resource and Impact Minimisation
We aim to:
- Reduce the environmental footprint of exploration, drilling, production, and decommissioning activities.
- Minimise the use of freshwater, energy, transportation, and flaring.
- Manage emissions, effluents, and waste through structured programmes.
c) Environmental Risk Management
We actively mitigate risks of direct environmental impact, such as oil spills, by maintaining access to appropriate and rapidly deployable spill response and clean-up services
5.3 Maintaining full compliance with applicable environmental laws, regulations, and other obligations
- The Group acknowledges its responsibility to act as an ethical corporate citizen of the world at large, including adherence to all ESG regulations in countries where it operates.
- The Group has established a robust internal mechanism for ongoing environmental monitoring and compliance assessments to ensure adherence to all relevant regulations and standards. This mechanism assigns specific personnel to oversee various aspects of environmental performance.
- Regular audits and inspections are conducted at defined intervals to assess compliance, with results documented and reviewed by Management. In Norway, routine modifications and optimisations are being implemented at the Brage Field and the Yme Field in which Rex’s subsidiary holds interests, focusing on all systems and energy carriers, including turbines, equipment, and flaring systems. These initiatives are aligned with ISO 5001 standards aimed at improving energy management systems and minimising emissions.
- Key operational sites are monitored continuously, and dedicated teams are responsible for identifying non-compliance risks and implementing corrective actions. These assessments are performed at a regular schedule to ensure that our environmental commitments are consistently met and maintained. In Oman, to mitigate the risk of oil spill occurrences offshore, an Oil Spill Contingency Plan has been put in place.
6. POLICY REVIEW
This Policy shall be reviewed periodically by Rex Senior Management, where this Policy may be modified, to maintain compliance with applicable laws and regulations or accommodate organisational changes.