Committed to Sustainable Development and Responsible Practices
Uncompromised commitment to ESG
At Parex, our approach to ESG is grounded in three pillars: regulatory compliance, strengthening communities, and enhanced business performance. These pillars shape our priorities, disclosures, and key performance indicators, helping align ESG performance with our broader corporate objectives and relevant United Nations Sustainable Development Goals.
In 2025, we completed a Double Materiality Assessment (DMA) to further enhance our understanding of the ESG topics most relevant to our business and stakeholders. The DMA results reinforced the continued relevance of two of the four ESG focus areas identified in 2022 – strengthening communities and climate strategy and GHG emissions – while also identifying emerging material topics, including health and safety, corruption and bribery prevention, supplier relationship management, and labour-related rights in the value chain.
In the months ahead, we will use these insights to define our medium-term ESG priorities, reflecting our business context, evolving regulatory expectations, and the continued transformation of Parex following its acquisition of Frontera Energy.
Read more in our 2025 Sustainability Report
Invest 1-2% of yearly capital in community and economic development projects.
Measured the impact of select community projects and assessed potential targets for enhancing the impact of investments (based on results of pilot in progress).
Complete human rights due diligence (pilot project in progress), expand risk assessment, and outline plan to address findings.
Assess initiatives to promote economic development, within communities after closures.
Committed to building a robust sustainability strategy amid regulatory changes
Parex remains committed to taking actions that reduce our impact on the environment and will continue to undertake activities in communities near our operations in support of this goal.Â
In June 2024, the Canadian Government passed amendments to the Canadian Competition Act, which has created significant uncertainty for how companies with environmental targets can publicly communicate their progress. Until more clarity is provided by the Canadian Competition Bureau about how the new law will be interpreted and enforced, we have decided to restrict public access our environmental-related communications at this time.
Foster an engaged workforce and build a diverse and inclusive work environment.
Develop succession plans for all senior leadership; 100% of succession candidates for senior leadership roles will have Individual Development Plans (IDPs) by end of 2024.
Achieve ISS Board Racial/Ethnic Diversity disclosure requirements.
Continued external assessment of regulatory trends and
practices on DE&I to improve strategy and approach to disclosure.
Use water responsibly as a trusted neighbour.
Set water management targets and associated action plans.
Implement water management initiatives to make progress against established targets.
Top Quartile Global exploration and production (E&P)
Bloomberg ESG Score (September 2026): 7.1, with 10 being best score.
Parex scored better than 99% of the E&P peer group.
Top Quartile Global exploration and production (E&P)
Top Quartile
Global E&Ps
(9th of 133)
As of September 2026, Parex received an ESG Risk Rating of 30.2 from Morningstar Sustainalytics and was assessed to be at Medium Risk of experiencing material financial impacts from ESG factors [on a scale of 0 (negligible risk) to 40+ (severe risk)]
Top Quartile
E&P Industry
(96 companies)
Top Quartile
Global E&Ps
(9th of 133)
ISS STOXX Corporate Rating (September 2026): C+
Source: ISS STOXX
Top Quartile
Oil & Gas Upstream and Integrated
Top Quartile
Global E&Ps
(9th of 133)
As of November 2025, Parex scored 58 out of 100 in the 2025 S&P Global CSA. The Company performed in the 89th percentile of the OGX Oil and Gas Upstream and Integrated Industry.
In 2020, Parex became a participant of the United Nations Global Compact (UNGC) and made the commitment to align its corporate management and business practices with the 10 UNGC principles in the areas of Human Rights, Labour, Environment and Anti-corruption.
This step demonstrates Parex’ commitment to building a robust sustainability strategy along with its ability to evaluate, measure and communicate it, especially in terms of taking action in support of broader UN goals such as the UN Sustainable Development Goals (SDGs).
Personas ajenas a la CompañÃa están solicitando servicios y ofreciendo vacantes en nombre de Parex.
Tenga siempre presente verificar la autenticidad de las comunicaciones o solicitudes recibidas.
Si considera que una solicitud o comunicación es sospechosa, repórtela inmediatamente al correo: [email protected]
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Ms. Bernard joined Parex in 2021 and is currently the Senior Vice President, New Ventures, leading a cross-functional team to identify and evaluate new business opportunities within and outside of Latin America. With over 29 years of industry experience, Ms. Bernard has built an extensive background in negotiating and managing upstream commercial agreements and contracts for E&P companies, including accountabilities for all relevant new business development, new ventures and commercial issues with partners, governments, and competitors.
Prior to joining Parex in 2021, Ms. Bernard held roles of increasing responsibility with Shell International Exploration & Production, where she contributed to both new business development and the communication of the overall strategic direction for RDS Group and its Upstream International business to the external community. She has also held roles with several international companies including CEPSA, Moore Stephens, and Amec.
Ms. Bernard holds a Masters of Science in Economics and a Bachelor of Arts Honors degree in Geography from the University College of London. In addition, Ms. Bernard holds a Non-Executive Director Diploma having completed the Pearson SRF BTEC Board Director Program.
