IPIECA announces the release of our pilot Climate Change Reporting Framework, intended to provide voluntary guidance for oil and gas companies when developing climate-related corporate sustainability reports.
In recent years, stakeholders have become increasingly interested in the oil and gas industry’s views on climate change-related risks and the actions the sector is taking to address them. Companies currently disclose information on these issues in a variety of ways, including voluntary communications, summary annual reports and sustainability reports. In addition, companies report information to other third parties in varying formats.
IPIECA’s aim is to improve members and the industry's performance in this area. As such, we have created a reporting framework for oil and gas companies to publicly disclose this information in a simple, straightforward and transparent manner, that offers a broad coverage of the issues and provides a consistent reporting methodology.
The framework includes sections on:
- Climate change positions, policies or principles
- Responsibilities and accountabilities
- Stakeholder engagement approaches
- Implications of shifting energy supply/demand and climate policy
- Corporate risk management approaches
- Emissions mitigation strategies, programmes, initiatives and activities
- GHG regulatory compliance approaches
- Research and development
- Historical performance data
This guidance has been prepared to provide additional detail to the ten suggested topics recently outlined in the IPIECA / API / IOGP Oil and gas industry guidance on voluntary sustainability reporting (3rd Edition, 2015). This work is being released as a pilot in 2015, to be tested for 12 months before being released as final guidance in 2016.