The Ipieca Principles and the Ipieca-WBCSD SDG Roadmap are key frameworks through which Ipieca aims to inspire action. These member action case studies provide tangible examples of how members are operationalising the principles and embedding SDG Roadmap actions in their businesses, offering inspiration and insights for other companies. Relevant Ipieca good practice guidance and resources are provided to further support companies to take the next step on their sustainability journey.
Reducing energy consumption is the most cost-effective strategy for lowering greenhouse gas (GHG) emissions. According to the International Energy Agency (IEA), enhancing energy efficiency could contribute up to 40% of the emissions reductions needed under the Paris Agreement.
Methane is a short-lived, but potent greenhouse gas, making it an ideal target for climate change mitigation strategies. Methods for reducing methane emissions are technically feasible or achievable at low or no-net costs, making it a key and cost-effective mission in oil and gas companies’ journeys to net-zero emissions.
Ipieca members’ approach to health and wellbeing is focused on the health outcomes of oil and gas industry employees and the communities in which they operate. This extends beyond protection to proactively helping employees remain healthy, as well as offering health and lifestyle services and infrastructure to surrounding communities, where the industry is often a major presence and employer.
Members are striving to enhance understanding and management of sustainability risks in the supply chain by promoting transparency in their procurement processes through sustainability reporting, conducting due diligence on human rights and environmental issues, and engaging the value chain to provide leadership on good practices.
One of the key technologies that can enable large-scale, cost-effective mitigation of CO2 within the industry and across other sectors is carbon capture and storage (CCS). The oil and gas industry is currently working to develop CCS technologies and projects, as well as to address barriers and explore opportunities to enable its uptake.
The Global Biodiversity Framework (GBF), adopted by 196 Parties at the UN Convention on Biological Diversity (CBD) COP15 in 2022, represents the global biodiversity agenda for the next decade and the common ground across societal sectors to enact positive actions for halting and reversing nature degradation.
Achieving the ambitions of the Paris Agreement will not be possible through electrification of the energy system alone, especially for those countries aiming to reach net-zero emissions by 2050. Because of the close association of hydrogen and fossil fuels, the oil and gas industry has the experience, skills and knowledge to support the emerging hydrogen economy.
The scale up of alternative energies, necessary if we are to meet the goals of the Paris Agreement, need to take into account climate, environmental and social risks associated with their development and use. The oil and gas industry has accumulated vast knowledge and specialised expertise in advancing the environmental and social performance of its operations, with many of the issues it deals with also being of relevance to alternative energy.
Oil and gas activities are typically long term and may have a variety of impacts on local communities and different social groups. Ipieca members support the framework provided by the UN Guiding Principles on Business and Human Rights, which provide a common language for human rights and a set of high-level principles for managing human rights issues and risks.
Circular economy is a system solution framework that entails decoupling economic activity from the consumption of finite resources. Ipieca members work to increase the circularity of their production processes and products, producing the energy the world needs, while reducing impacts on natural resources and biodiversity, and cutting emissions.
Conserving the energy and greenhouse gases (GHGs) used to produce oil and gas can make a major contribution to moving the world onto a more sustainable energy path. Ipieca members are increasingly powering their operations with low-carbon or renewable energy sources, helping reduce GHG emissions from their operations.
Energy is a key driver of sustainable development and is often described as the ‘golden thread’ that links most of the Sustainable Development Goals (SDGs) and the 2030 Agenda pledge to ‘leave no one behind’. Members work to provide access to affordable, reliable, sustainable and modern energy, which is essential for economic growth, employment, education, poverty reduction, and health and safety.
Natural climate solutions can have a positive impact on mitigating climate change while also providing additional benefits, including economic growth and diversification, improvement of human health and livelihood and protection of biodiversity and water resources. Members are working with local communities and conservation organisations to protect and restore high carbon stock ecosystems, such as wetlands and mangroves.
Ipieca supports the oil and gas industry’s participation in international collaboration to transition to a low-carbon world in a way that is just and fair for workforces, communities and consumers. Ipieca members are collaborating broadly to upskill, reskill and invest in new business models for a just transition.
Water quality and quantity is of global environmental concern, presenting risks and opportunities for the industry. The industry is committed to managing its consumption of water, working to protect the quality of water through project life cycles and contribute to SDG 5 – Clean water and sanitation.
The oil and gas industry has made continuous reductions to the amount of natural gas that is flared. By working through a range of consortia, such as the World Bank’s Global Flaring and Methane Reduction Partnership, Ipieca members are reducing the amount of ‘associated’ gas that is flared.
Biodiversity is vital to ensuring healthy people and a healthy planet, providing the foundation for economic growth, human health and prosperity. Ipieca members are committed to supporting the aims of the UN Convention on Biological Diversity—which acts as an international framework of reference for biodiversity issues.
Marine spill preparedness and response is key to minimising environmental impacts and ensuring the sustainable use of oceans, seas and marine resources for economic development and human wellbeing. Ipieca members monitor, assess and respond to marine-spill related developments and engage with external stakeholders, including governments and regulators, to enhance understanding, build capacity, and run practice exercises.
Creating shared value through policies and operating practices enhances the competitiveness of a company while simultaneously advancing the economic and social conditions in the communities in which it operates. Ipieca members take a strategic approach to local content efforts in recognition of the wider business benefits of creating and sharing value between themselves, local communities and countries.