The Ipieca Principles outline a shared ambition in support of Ipieca’s vision.
The principles set a sustainability framework and reinforce Ipieca’s role to inspire action and lead the global oil, gas and alternative energy industry through a sustainable energy transition.
The first principle under each theme provides support for a United Nations convention or initiative, strengthening Ipieca's longstanding relationship and collaboration with the UN. The second principle under each theme aims to advance the environmental and social performance of members’ operations.
Members indicate their support through their agreement to the conditions of Ipieca membership and their continued membership of Ipieca.
Demonstration of this support will differ depending on companies’ own policies and procedures, as well as applicable law, operating regions and other factors (see ‘Examples of action’). There are no requirements for disclosure or verification.
A toolkit of practical examples, useful resources and reference points guides members through a range of voluntary actions through company operations and the supply chain that align with the Ipieca Principles.
Applicability of the suggested actions to any particular company will be dependent on a range of factors. These could include companies’ size, business models, policies and procedures, national/regional circumstances, level of economic development as well as applicable law and other factors specific to the particular company.
Links to Ipieca good practice guidance, external resources, frameworks and organisations are provided to help members understand the relationship between the principles and operational good practice.
Regular updates take into account new Ipieca guidance, other references and industry/regulatory developments.
Ipieca is sharing examples of how members are operationalising the principles on its website. The ‘Member action’ page is intended to offer inspiration and insights to other companies to support them to advance their sustainability journeys.
Examples are collected through Ipieca-led desktop research and voluntary submissions from members.
The principles are intended to provide a framework for scalable actions in line with Ipieca’s vision, that can be adapted to suit diverse company contexts and sustainability journeys.
Members can implement any number of the examples listed in the toolkit. The wide range of examples encourage members to go beyond business as usual, whatever stage of their sustainability journey they are on. They are not binding commitments nor minimum expectations on member companies.
Peer-learning and collaboration is at the heart of what Ipieca does—the principles build on this. Being involved in Ipieca meetings and contributing to the development of good practice is all part of the process of understanding, learning, and collaborating to advance environmental and social performance across the energy transition.
