ERM and SustainAbility, an ERM Group company, have produced a new article on investors' and other key stakeholders' expectations of environmental, social and governance (ESG) reporting in the oil and gas industry.
The article discusses how these expectations do not just apply to the supermajors anymore, but have recently been filtering down to smaller oil and gas companies, and highlights the importance of all reporters following recognised frameworks to ensure that they apply the best available methodologies to determine what they should report on, and how they should present that information.
The IPIECA-API-IOGP Sustainability reporting guidance for the oil and gas industry is noted as a useful guide to reporting for the sector. Recently updated, the fourth edition of the guidance provides advice on setting targets for a range of ESG indicators and reporting progress on these. The guidance is suited to new and experienced reporters that want to demonstrate how their sustainability performance matches evolving stakeholder expectations.
As the world moves towards a lower-carbon economy, this article stresses the importance of comprehensive ESG reporting, which can lead to benefits from improved credibility to increased long-term value for investors.
Download the full article below.