In June 2025, we were proud to mark a milestone in our just transition journey: the launch of the fifth edition of the Ipieca-API-IOGP Sustainability reporting guidance for the oil and gas industry.
This edition introduces, for the first time, a dedicated section on a just transition indicator (labelled SOC-16) within the social module of the guidanceand integrates just transition considerations into existing social indicators (SOC-1 to SOC-15). These updates stem from extensive consultations within the Ipieca membership, as well as valuable feedback from our stakeholders, including the Council for Inclusive Capitalism and Pillar Two. To mark its launch, we recently hosted a series of webinars, where we gathered insights from Ipieca member representatives, along with some of our key stakeholders.
A blueprint for just transition action
The guidance is more than just a reporting tool: it is a blueprint for action. It enables companies to demonstrate how they are aligning their strategies and operations with a just transition lens. It will also showcase our industry’s contribution to the UN Sustainable Development Goals (SDGs), specifically SDG 7 on affordable and clean energy, SDG 8 on decent work and economic growth, SDG 10 on reduced inequalities, SDG 13 on climate action and SDG 17 on partnerships for the goals.
A collaborative milestone
This achievement reflects extensive dialogue, peer learning and collaboration among Ipieca members, associations and stakeholders. Since 2022, Ipieca has convened member companies to share practical experiences, challenges and solutions, from mapping corporate plans and compiling case studies to exploring responsible portfolio management. The process leading to SOC-16 was intensive: seven drafts, engagement with 42 company representatives across Ipieca groups and seven industry associations. Stakeholder feedback was pivotal, with long-standing partners, helping to keep our approach credible, balanced and actionable.
Why this matters now
The launch comes at a time when the energy sector faces what many call the ‘energy trilemma’: balancing affordability, security and sustainability in a shifting global landscape. Regulatory requirements are evolving, from European reporting standards to new jurisdictional mandates, and public expectations for transparency on just transition are growing. SOC-16 offers a practical framework to help companies weave just transition considerations across functions, from supply chain management to human resources, enabling a consistent narrative that meets both internal strategic needs and external reporting demands.
Embedding just transition into the industry’s DNA
In July 2022, Ipieca published a Just transition literature review, providing insights into the just transition concepts, definitions and priorities from a range of organisations relevant to the sector to raise awareness and understanding of the just transition. Following this, Ipieca developed a statement on just transition, aligning the industry around a shared understanding of the concept.
Since then, Ipieca has continuously sought to maintain an understanding of stakeholders’ views and initiatives on just transition through several means. At UNFCCC COP official side events and the UN Annual Forum for Business and Human Rights, Ipieca has hosted and contributed to events focused on the role of business in delivering a just transition. Ipieca also provides technical knowledge to UN bodies when requested. For instance, in 2023, Ipieca supported the UN Working Group on Business and Human Rights by taking part in aconsultation for a report on the Extractive sector, just transition and human rights.
As we look ahead, the fifth edition of the sustainability reporting guidance is not an endpoint but a foundation. By embedding just transition considerations across our social indicators and providing clear, practical direction, we aim to support companies in delivering energy transition strategies that are fair, inclusive and responsive to the needs of people and communities worldwide.
