IPIECA members have been working together on sustainability reporting since 2002 to help companies improve the quality and consistency of their reports and to encourage reporting across the oil and gas industry.
The third edition of the IPIECA, API and IOGP Oil and gas industry guidance on voluntary sustainability reporting was published in September 2015.
The oil and gas sector is a fundamental part of today’s world, providing essential energy and raw materials for global development. A dynamic and innovative business, the industry constantly seeks to adapt to new situations and challenges. It invests not only in the search for new oil and gas, but also in facilities, infrastructure, technology, local communities, health and safety, and the environment. The sector continually examines opportunities to meet growing energy demand around the world, while seeking to mitigate adverse impacts of its activities as well as to address the potential risks associated with climate change.
Not surprisingly, many people and organizations worldwide want to understand the oil and gas sector’s business and participate in dialogue with companies on the effects of their activities—the impacts, benefits, risks and trade-offs. In addition to annual reports on financial performance and other communication initiatives, sustainability reporting - is an important way for companies in the sector to engage with stakeholders and help foster informed dialogue and understanding.
The third edition of the Oil and gas industry guidance on voluntary sustainability reporting was published in September 2015.
The third edition replaces the second edition published in December 2010. The revision is based on industry experience, feedback on the 2010 document, significant insights and suggestions from an independent panel of stakeholders with expertise in the sector and sustainability reporting, and a public consultation process.
The Guidance continues to cover a range of sustainability issues relevant to the oil and gas industry, based on industry consensus. It allows companies to select from related indicators that offer a choice on the depth and detail to be communicated. By providing flexibility and consistency, the Guidance aims to serve both new and experienced reporters while avoiding the pitfalls of formulaic reporting.
The Guidance remains voluntary and does not set minimum requirements or predetermine stakeholder requests. Instead, it encourages a consistent ‘how-to’ approach, with companies determining what to report based on a materiality process and stakeholder expectations.
The latest Member sustainability reports are available from the links below: