Following the recent Ipieca-Arpel-API-IOGP co-hosted Regional webinars for Latin America: introduction to sustainability reporting, GeoPark’s Sustainability Leader María Luisa Villa, who heads the consolidation of the company’s annual SPEED/Sustainability report, gives her top 4 tips on sustainability reporting:
- Consolidate all the information required by regulators, indexes, ratings and other stakeholders into a single reporting tool, instead of multiple ones. As there is only one information request a year, this reduces the workload on reporting areas and avoids information discrepancies.
- Use specialised software rather than Excel and Word to collect, review and consolidate non-financial corporate information. This improves efficiency, strengthens information governance, and makes things more straightforward for the area in charge of consolidation.
- The reporting season is very challenging. It is important that the area leading this process within the company is well supported by the leadership team. In our experience, the key to success is tight teamwork and very fluid communication between the sustainability, finance and communications teams.
- Sustainability reports should follow and connect with the company’s sustainability strategy and reflect the work that goes into closing gaps and improving performance every year.
GeoPark’s approach to sustainability
GeoPark is an independent oil and gas explorer, operator, and consolidator focusing on Latin America with operations in Colombia, Argentina, Ecuador and Brazil totalling some 40,000 barrels of oil equivalent per day net.
Sustainability at GeoPark is embedded in its Integrated Value System called SPEED, which stands for Safety, Prosperity, Employees, Environment and Community Development. SPEED is the core set of principles around which GeoPark is built, and is key to attracting the best talent, being the neighbour and partner of choice, and ensuring that operations are successful, safe and sustainable.
For more information on the sustainability indexes, ratings and initiatives that GeoPark is part of, the standards and reporting guidelines it follows, and its awards and certifications, see https://www.geo-park.com/esg/certifications-awards/.
Ipieca guidance and resources
Is your company starting its sustainability reporting journey? Click here to download the Ipieca Sustainability reporting guidance and watch the recordings of the Regional webinars for Latin America: introduction to sustainability reporting.
