To ESG Memo Recipients:
Free market economies such as the United States have had a very good history of pollution control, particularly as the “market” for cleaner industry began to emerge in the 1960s, and since that period, the amount of carbon generated in the US per $ of GDP has declined steadily.
Fossil fuels are not only increasingly abundant but can also be made substantially cleaner, whereas there are significant scientific barriers to the efficient and cost-effective replacement of fossil fuels by other technologies.
Meridian’s management believes that its accomplishments demonstrate the viability of this world view. Meridian’s founders and management, in response to the philosophical orientation of its team and to the apparent demand for cleaner refineries and refined products in both the consumer and investment markets, has created a new type of refining company that surpasses the permitting requirements of all relevant regulatory jurisdictions.
Meridian did this not because of government dictates or to fulfill the terms of government subsidies or funding, but because it is what its founders and management team chose to do in their own enlightened self-interest – create a firm that would be a profitable agent of change in cleaning up one of the most archaic and under progressed segments of the energy industry. The Davis Refinery, which is Meridian’s flagship facility, will exhibit one-eighth of the pollutant air emissions and less than one-half of total greenhouse gas emissions of the domestic US refinery industry average.
Meridian has watched with great interest as the energy and energy-financing industries have gradually come to embrace cleaner energy. Those are principles that Meridian was founded on, and the Company is grateful to see these other industry players catching up with Meridian. Since the industry has now adopted a responsible approach to managing environmental, social and governance (“ESG”) issues, including standards such as the Equator Principles, Meridian has taken the step of organizing its various documentation and policies into its Environmental and Social Management Plan (“ESMP”) for review by outside firms, including investors.
Meridian Energy Group, Inc.
William C. Prentice
Chairman And Chief Executive Officer