Calendar29 September 2023

The Ipieca sustainability article round-up showcases recent sustainability-related achievements, projects and news from Ipieca members, demonstrating their support for the Ipieca Principles around advancing environmental and social performance across the energy transition. We also highlight initiatives from our partner organizations and share insights from key United Nations meetings.

The September edition shares new initiatives, research and guidance for a broad spectrum of topics from across Ipieca’s four strategic pillars, including methane mitigation, net zero, alien invasive species, natural capital, diversity and inclusion, community engagement, sustainability reporting and the Sustainable Development Goals.

Member sustainability articles

Chevron + Ipieca

Celebrating 20 years of sustainability reporting

Balaji Krishnamurthy, Vice President, Strategy and Sustainability, Chevron, describes the benefits of sustainability reporting and how Ipieca supports Chevron’s approach to reporting.

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Equinor celebrates record-breaking wind project built upon floating concrete

Equinor opens a new offshore wind farm, expected to replace a third of the gas-generated power used at five of Equinor’s platforms in the Snorre and Gullfaks oil and gas fields.

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McDermott + Shell

McDermott and Shell collaborate on liquid hydrogen cargo containment system

McDermott receives Approval in Principle for its design of a liquid hydrogen cargo containment system, proving to be a major milestone in supporting the role of liquid hydrogen in the energy transition.

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Petrobras approves Diversity, Equity and Inclusion Policy

Petrobras has approved its Diversity, Equity and Inclusion policy, positioning the company as a leader in this area beyond legal compliance, solidifying their public commitment to implement concrete measures to promote a diverse, inclusive, and safe environment for all people.

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Repsol makes natural capital methodology Reads available to public

Repsol has launched to the public its novel methodology for the comprehensive assessment of environmental impacts of any business activity or project. The methodology and associated digital tool allows companies to quantify and value ecosystem services from an economic point of view, enhancing understanding of nature-related risks and opportunities. Repsol aims for the methodology to be widely known and used by all types of companies.

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Ipieca insights and partnerships

European Financial Reporting Advisory Group (EFRAG) + Global Reporting Initiative (GRI)

EFRAG and GRI achieve alignment between respective reporting standards

Crediting the close cooperation during the development of the draft European Sustainability Reporting Standards (ESRS), EFRAG and GRI have achieved a high level of interoperability between their respective standards in relation to impact reporting. They prevent the need for double reporting by companies, resulting in a user-friendly reporting system without undue complexity.

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Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES)

IPBES publishes assessment report on alien invasive species and their control

The report finds that alongside dramatic changes to biodiversity and ecosystems, the global economic cost of invasive alien species exceeded $423 billion annually in 2019. It provides evidence, tools and options to help governments achieve ambitious new global goal on invasive alien species.

Note: Ipieca is currently updating its guidance on Alien invasive species and the oil and gas industry.

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International Energy Agency (IEA)

IEA publishes update to Net Zero Roadmap

This 2023 update surveys the complex and dynamic energy landscape and sets out an updated version of the net-zero emissions by 2050 (NZE) scenario; a pathway, but not the only one, for the energy sector to achieve net zero CO2 emissions by 2050 and play its part in achieving the 1.5 °C goal.

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International Association of Oil & Gas Producers (IOGP) + Oil & Gas Climate Initiative (OGCI) + Ipieca

Ipieca partners with IOGP and OGCI to help operators select methane mitigation technologies

Ipieca, together with industry associations IOGP and OGCI, have released a recommended practices guide to help operators select and deploy methane detection and quantification technologies.

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Ipieca + UN Framework Convention on Climate Change (UNFCCC)

Taking stock of COP28

COP28 is being labelled the stocktake COP. Ipieca Senior Climate Change Manager Lorena Perez Bajo explains what the Global Stocktake is, why it’s important and Ipieca’s role in it.

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Society of Petroleum Engineers (SPE)

SPE D&I committee explores energy companies’ role in community engagement

Using the UN Sustainable Development Goals as a framework, a panel of experts, including from Ipieca member companies Chevron and OMV, discussed the role energy companies play in engaging the communities in which they operate.

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United Nations

New report shows co-benefits of climate-SDG solution synergies

A report from the United Nations, launched at the SDG Summit during the UN General Assembly in New York, outlines the benefits of an integrated approach to tackling climate and sustainable development challenges. Synergistic policies and actions can maximise impact, due to the correlation between climate and sustainable development goals.

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Related Ipieca resources and news

Found these articles interesting? Learn more about the topics covered through Ipieca’s free good practice guidance, awareness briefings, webinars, news and blogs:

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