The first edition of the Oil and gas industry guidance on voluntary sustainability reporting has been the principal industry-specific framework for use by oil and gas companies reporting on environmental, health and safety, and social and economic performance. Now, IPIECA, API and OGP have together released a revised second edition of this formative document, which provides significant added guidance on reporting as an engagement process, including detailed “how-to” steps for reporters, clearer focus on assessing “material” issues, and improved technical indicators for use in reporting sustainability performance. The 2010 update draws on the very best technical expertise from within the industry to bring greater precision to indicator definitions and sustainability reporting protocols. This facilitates bench-marking and aggregation of data, enabling greater consistency with the aim of driving performance improvement across the industry. The update process included the candid insights and advice of an independent stakeholder panel of leading experts, as well as a public consultation process, to provide a broader perspective on reporting issues viewed as critical to those interested in global oil and gas operations. Overall, the strengths of the 2005 edition remain: this is Guidance that has been developed for the industry by the industry.