Setting sustainability expectations for members, the Ipieca Principles reinforce Ipieca’s role to inspire action and lead the global oil, gas and alternative energy industry through a sustainable energy transition.
The principles are grouped under the four pillars of Ipieca's 2021-2024 strategy, providing a shared ambition for members in support of Ipieca's vision.
The first principle under each pillar provides support for a United Nations convention or initiative, strengthening Ipieca's longstanding relationship and collaboration with the UN. The second principle under each pillar aims to advance the environmental and social performance of members’ operations.
A new condition of membership
The Ipieca Principles are a new condition of membership. Supporting the principles is a requirement of membership for current and prospective Ipieca corporate and associate members, effective from 1 July 2022.
Under the conditions of Ipieca membership, members of Ipieca agree to:
- Support the Ipieca Principles.
- Support the Ipieca vision to improve performance and contribute to the energy transition in the context of sustainable development.
- Support the objectives and work plan of Ipieca as approved by the General Committee. This includes but is not limited to, engaging in at least two groups.
- Respect and value Ipieca's non-lobby status.
- Comply with the Articles of Association of Ipieca.
- Comply with applicable laws and regulations, including on anti-trust, competition and sanctions, related to Ipieca’s activities and members participation.
Supporting the Ipieca Principles
Members demonstrate their support for the Ipieca Principles through their agreement to the conditions of Ipieca membership and their continued membership of Ipieca.
However, the Ipieca Principles are not just words - they are meant to inspire action. To help members and the wider industry operationalize the principles, we have created an accompanying toolkit of practical examples, useful resources and reference points.
A repository of case studies provides further tangible examples of how members are putting the principles into action, offering inspiration and insights for other companies looking to embed the Ipieca Principles in their business.
By aligning with the Ipieca Principles and using Ipieca guidance to incorporate them into core business, oil, gas and alternative energy companies can contribute to UN conventions on climate change, biodiversity, human rights and sustainable development and contribute to a sustainable energy transition.
