The annual Ipieca sustainability reporting survey highlights emerging practices and developments in the sustainability reporting practices of Ipieca member companies. The purpose is to enable member companies to learn from their peers, and improve industry communication about sustainability issues. The survey results also feed the continued development of the Ipieca, API, IOGP Sustainability reporting guidance for the oil and gas industry.

This interactive dashboard presents highlights from the most recent survey, as well as analysis of all survey results since 2012, allowing for year-on-year comparisons which highlight reporting trends and changing priorities across the industry.

Please note: As this is a voluntary survey, not all Ipieca members participate and company participation varies each year. Survey questions have also evolved over the years in accordance with shifting stakeholder expectations, changing regulatory landscape and member priorities. Direct comparisons are therefore not available for every question, nor do all comparisons cover every year. Users should keep this in mind when drawing conclusions from the results.

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Sustainability reporting in the industry

The oil and gas industry has a long history of sustainability reporting.

Oil and gas companies were among the first companies to produce standalone reports on safety and environmental issues in the 1990s.

The below chart shows a timeline of when Ipieca members produced their first reports, signposting the formation of Ipieca’s Reporting Working Group and the editions of Ipieca’s Sustainability reporting guidance, first published in 2005.

Graph 1: Timeline of first sustainability reports produced by Ipieca members (based on Ipieca membership as of November 2024)

PointerYou can interact with the charts by hovering on the data points or bars to view specific information, such as exact values or percentages.

Milestones

2003 - Formation of Ipieca Reporting Working Group

2005 - Ipieca-API Oil and gas industry guidance on voluntary sustainability reporting

2010 - 2nd edition - Ipieca-API-OGP Oil and gas industry guidance on voluntary sustainability reporting

2015 - 3rd edition - Ipieca-API-IOGP Oil and gas industry guidance on voluntary sustainability reporting

2020 - 4th edition - Ipieca-API-IOGP Sustainability reporting guidance for the oil and gas industry

100% of Ipieca corporate and associate members produce reports/online content about their sustainability performance.
Companies publish sustainability performance information every year. The 2024 reporting survey shows that 66% of the responding companies have done so for 10 or more years.
Graph 2: Number of years reporting on ESG information (2024 survey result)

The scope of additional topical reports has broadened considerably over the past 20-30 years.

These days, the suite of corporate sustainability reports frequently include topics such as climate change, community engagement, security and human rights, water, local content, biodiversity, or disclosures addressing the needs of stakeholders in specific locations and regions.

Graph 3: Number of topics selected for additional reports/communications per year

PointerClick on a topic below to see which years it was the focus of additional reports/communication

Scenario analysis / Energy industry outlook

Years
2017
2018
2019
2020
2021
2022
2023
2024

Country/regional reports

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Climate change and transition plans

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Tax Transparancy Report

Years
2016
2021
2022
2023
2024

Human rights

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Water

Years
2017
2018
2019
2020
2023
2024

Biodiversity

Years
2018
2019
2020
2021
2022
2023
2024

Modern slavery statements

Years
2018
2019
2020
2021
2022
2023
2024

UN Global Compact

Years
2019
2020
2021
2022
2023
2024

Voluntary principles

Years
2019
2020
2021
2022
2023
2024

EITI

Years
2019
2020
2021
2022
2023
2024

SDGs

Years
2019
2020
2021
2022
2023
2024

Diversity, pay equity, human capital

Years
2020
2021
2022
2023
2024

Trade associations review

Years
2022
2023
2024

Just transition

Years
2023
2024

Community investments

Years
2023
2024

Supply chain

Year
2024

Circular economy

Year
2024

Country/regional reports

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Climate change and transition plans

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Tax Transparancy Report

Years
2016
2021
2022
2023
2024

Human rights

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Scenario analysis / Energy industry outlook

Years
2017
2018
2019
2020
2021
2022
2023
2024

Country/regional reports

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Climate change and transition plans

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Human rights

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Water

Years
2017
2018
2019
2020
2023
2024

Oil sands and unconventional gas

Year
2017

Scenario analysis / Energy industry outlook

Years
2017
2018
2019
2020
2021
2022
2023
2024

Country/regional reports

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Climate change and transition plans

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Human rights

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Water

Years
2017
2018
2019
2020
2023
2024

Biodiversity

Years
2018
2019
2020
2021
2022
2023
2024

Modern slavery statements

Years
2018
2019
2020
2021
2022
2023
2024

Scenario analysis / Energy industry outlook

Years
2017
2018
2019
2020
2021
2022
2023
2024

Country/regional reports

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Climate change and transition plans

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Human rights

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Water

Years
2017
2018
2019
2020
2023
2024

Biodiversity

Years
2018
2019
2020
2021
2022
2023
2024

Modern slavery statements

Years
2018
2019
2020
2021
2022
2023
2024

UN Global Compact

Years
2019
2020
2021
2022
2023
2024

Voluntary principles

Years
2019
2020
2021
2022
2023
2024

EITI

Years
2019
2020
2021
2022
2023
2024

SDGs

Years
2019
2020
2021
2022
2023
2024

Scenario analysis / Energy industry outlook

Years
2017
2018
2019
2020
2021
2022
2023
2024

Country/regional reports

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Climate change and transition plans

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Human rights

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Water

Years
2017
2018
2019
2020
2023
2024

Biodiversity

Years
2018
2019
2020
2021
2022
2023
2024

Modern slavery statements

Years
2018
2019
2020
2021
2022
2023
2024

UN Global Compact

Years
2019
2020
2021
2022
2023
2024

Voluntary principles

Years
2019
2020
2021
2022
2023
2024

EITI

Years
2019
2020
2021
2022
2023
2024

SDGs

Years
2019
2020
2021
2022
2023
2024

Indigenous Rights Policy

Years
2020
2021

Diversity, pay equity, human capital

Years
2020
2021
2022
2023
2024

COVID response plans

Years
2020
2021
2022

Scenario analysis / Energy industry outlook

Years
2017
2018
2019
2020
2021
2022
2023
2024

Country/regional reports

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Climate change and transition plans

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Tax Transparancy Report

Years
2016
2021
2022
2023
2024

Human rights

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Biodiversity

Years
2018
2019
2020
2021
2022
2023
2024

Modern slavery statements

Years
2018
2019
2020
2021
2022
2023
2024

UN Global Compact

Years
2019
2020
2021
2022
2023
2024

Voluntary principles

Years
2019
2020
2021
2022
2023
2024

EITI

Years
2019
2020
2021
2022
2023
2024

SDGs

Years
2019
2020
2021
2022
2023
2024

Indigenous Rights Policy

Years
2020
2021

Diversity, pay equity, human capital

Years
2020
2021
2022
2023
2024

COVID response plans

Years
2020
2021
2022

Scenario analysis / Energy industry outlook

Years
2017
2018
2019
2020
2021
2022
2023
2024

Country/regional reports

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Climate change and transition plans

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Tax Transparancy Report

Years
2016
2021
2022
2023
2024

Human rights

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Biodiversity

Years
2018
2019
2020
2021
2022
2023
2024

Modern slavery statements

Years
2018
2019
2020
2021
2022
2023
2024

UN Global Compact

Years
2019
2020
2021
2022
2023
2024

Voluntary principles

Years
2019
2020
2021
2022
2023
2024

EITI

Years
2019
2020
2021
2022
2023
2024

SDGs

Years
2019
2020
2021
2022
2023
2024

Diversity, pay equity, human capital

Years
2020
2021
2022
2023
2024

COVID response plans

Years
2020
2021
2022

Affiliate/subsidiary report

Year
2022

Protected areas report

Year
2022

Trade associations review

Years
2022
2023
2024

Methane

Year
2022

Scenario analysis / Energy industry outlook

Years
2017
2018
2019
2020
2021
2022
2023
2024

Country/regional reports

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Climate change and transition plans

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Tax Transparancy Report

Years
2016
2021
2022
2023
2024

Human rights

Years
2016
2017
2018
2019
2020
2021
2022
2023
2024

Water

Years
2017
2018
2019
2020
2023
2024

Biodiversity

Years
2018
2019
2020
2021
2022
2023
2024

Modern slavery statements

Years
2018
2019
2020
2021
2022
2023
2024

UN Global Compact

Years
2019
2020
2021
2022
2023
2024

Voluntary principles

Years
2019
2020
2021
2022
2023
2024

EITI

Years
2019
2020
2021
2022
2023
2024

SDGs

Years
2019
2020
2021
2022
2023
2024

Diversity, pay equity, human capital

Years
2020
2021
2022
2023
2024

Trade associations review

Years
2022
2023
2024

Just transition

Years
2023
2024

Community investments

Years
2023
2024
  • Further InformationChevron-down
    • Results are based on options provided in the survey and are not exhaustive nor necessarily indicative of when the industry first started producing the topical report.
    • In 2016 (when the question first appears) - there were 4 subtopics being used as extra communications: country/regional reports; energy/climate; payments to governments and human rights.
    • The number of topics provided in the survey and the number of 'others' specified by respondents increases every year.
    • Climate change remains a consistently popular choice - as does scenario analysis and Modern Slavery Statement.

Reporting practices are dynamic and adaptable.

Reports are routinely provided in print and online, and in various formats or channels to meet the needs of users.

94% of responding companies now use social media to help convey Environmental, Social and Governance (ESG) content.
Graph 4: The social media channels companies use to convey ESG content (2024 survey result)

Integration of sustainability in corporate governance and assurance practices

The industry’s history of reporting has supported the establishment of robust governance processes around sustainability information.

Board directors or CEOs approve the main ESG disclosures in 80% of responding companies.

Executive compensation is now routinely linked to ESG performance, with particular focus on goals and targets relating to climate. 90% of responding companies link executive compensation to their organization's ESG performance.

Compensation is also tied to other aspects of ESG performance beyond climate.

Graph 5: Percentage of responding companies linking executive compensation to ESG performance

2024 survey result

Graph 6: ESG goals/targets linked to executive compensation

2024 survey result

Our member companies have also been at the forefront of developing approaches to third-party assurance.

In 2024, 94% of responding companies said they include some form of assurance of their ESG disclosures.

Graph 7: Percentage of survey respondents with some form of verification/assurance of their ESG disclosures

Materiality

Reporters have begun to develop 'double materiality' approaches in line with emerging regulatory requirements.

Materiality processes are formal processes for assessing which topics are most important to include and focus on in their sustainability reporting. 'Double materiality' requires companies to disclose information on significant sustainability matters from a financial perspective, an impact perspective, or both perspectives.

81% of responding companies have a formal materiality process in place.

On average, 60% of responding companies have double materiality processes in place (since 2022, when respondents were first asked about double materiality).

Graph 8: Percentage of companies with formal materiality processes in place

2024 survey result

Graph 9: Respondents with formal materiality vs double materiality processes

Sustainability topics

The scope of topics covered by sustainability reports has grown considerably over the past decade.

Disclosures are now widely made across environmental, social and governance topics in general, with increasing detail on particular subjects of importance to specific stakeholders.

Graph 10: Top 5 focus areas per year

The below graph shows the top 5 sustainability topics that responding companies anticipate holding the highest significance for the industry or their company over the next 3-5 years.

Graph 11: Top 5 sustainability topics in the next 3-5 years

The external reporting landscape

The sustainability reporting landscape has changed significantly in recent years, with changes to long-established frameworks and the emergence of newer frameworks in areas such as climate reporting and nature.

As a result, reporters face a complex disclosure system, which includes national and international regulatory measures, national and global standards, voluntary measures and other frameworks supporting good practice. Reporters must therefore select the frameworks that best address their goals and which support them in their reporting.

The following reporting standards/frameworks/commitments have guided the development of responding companies' reports over the past 9 years.

Graph 12: Reporting standards/frameworks/commitments guiding development of sustainability reports each year

PointerHover/click on a cell to view trends over time

Year201620172018201920202021202220232024
Total no. options provided71110141515151923
1stIpieca-API-IOGPIpieca-API-IOGPIpieca-API-IOGPIpieca-API-IOGPTCFDIpieca-API-IOGPTCFDTCFDTCFD
2ndGRIGRIGRIGRIIpieca-API-IOGPTCFDIpieca-API-IOGPIpieca-API-IOGPGRI OG 11
3rdUNGCUN SDGsUN SDGsTCFDUN SDGsGRIUN SDGsGRI (2021)Ipieca-API-IOGP
4thIpieca ClimateIpieca ClimateUNGCUN SDGsGRISASBSASBSASBGRI (2021)
5thUNGPsTCFDTCFDIpieca ClimateSASBUN SDGsHistoric GRIGRI OG 11UN SDGs
6thSASBUNGCIpieca ClimateUNGCIpieca ClimateUNGCUNGCUN SDGsSASB
7thIRGlobal Reporting Initiative (GRI) Sector DisclosuresDirective 2014/95/EUUNGCWEFGRI (2021)UNGCUNGC
8thOECDUNGPsWRI-WBCSDDirective 2014/95/EUWEFWRI-WBCSDWRI-WBCSD
9thVPSHRDirective 2014/95/EUVPSHRWRI-WBCSDDirective 2014/95/EUCSRD and ESRS
10thSASBVPSHROGCIVPSHROGCIEU Taxonomy
  • Further InformationChevron-down
    • There is an increasing number of options to select from every year - this is most likely a reflection of more and more standards being developed, produced and pushed by investors each year.
    • GRI and SASB dip and rise as they release updated and new standards and frameworks.
    • The UN Sustainable Development Goals have been in the top 5 since they were launched, except in 2023 (when they come in 6th).
  • AbbreviationsChevron-down
    AbbreviationStandard
    CSRD and ESRSEU Corporate Sustainability Reporting Directive and European Sustainability Reporting Standards
    Directive 2014/95/EUDirective 2014/95/EU (for non-financial reporting)
    GRIGlobal Reporting Initiative
    GRI OG 11Global Reporting Initiative Oil and Gas Sector Standard
    IRIntegrated Reporting Framework
    Ipieca ClimateIpieca Climate Reporting Framework
    Ipieca-API-IOGPIpieca-API-IOGP Sustainability reporting guidance for the oil and gas industry
    OECDOrganisation for Economic Co-operation and Development Guidelines for Multinational Enterprises
    OGCI OGCI Reporting Framework
    SASBSustainability Accounting Standards Board sustainability accounting standards
    TCFDTask Force on Climate-Related Financial Disclosures recommendations
    UNGCUN Global Compact Ten Principles, Communication on Progress
    UNGPsUN Guiding Principles Reporting Framework
    UN SDGsUN Sustainable Development Goals
    VPSHRVoluntary Principles on Security and Human Rights Verification Framework
    WEFWorld Economic Forum - Stakeholder Capitalism Metrics
    WRI-WBCSDWorld Resources Institute - World Business Council for Sustainable Development GHG Protocol

The Ipieca-API-IOGP Sustainability reporting guidance has consistently been one of the top frameworks used by respondents to guide the development of their reports in the past eight years.

The UN Sustainable Development Goals

As per the Ipieca Principles, which are a condition of membership, Ipieca members support the UN 2030 Agenda for Sustainable Development, as embodied by the UN Sustainable Development Goals (SDGs).

Graph 13: Companies referencing the SDGs in their reporting

87% of 2024 respondents are reporting to/referencing the SDGs in their reports.

In their reporting, Ipieca members have sought to focus on opportunities where they can maximise their contribution to the SDGs.

These opportunities involve scaling up good practices in environmental and social performance and building on innovative partnerships.

When asked to prioritise the SDGs most relevant to their activities and impacts, SDG 7 (Affordable, reliable energy for all) has consistently ranked highest or second highest. SDG 13 (Climate action) follows closely behind.

SDG 8 (Decent work and economic growth) has ranked second or third every year except 2020, in the midst of the COVID-19 pandemic, when it ranked first.

SDG 15 (Life on land), SDG 9 (Industry, innovation and infrastructure) and SDG 12 (Responsible consumption and production) all make appearances at the top fourth or fifth position.

Graph 14: Top 5 priority SDGs per year

PointerClick on an SDG icon to view trends over time

No Poverty

Zero Hunger

Good Health and Well-being

Quality Education

Gender Equality

Clean Water

Affordable and Clean Energy

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Reduced Inequalities

Sustainable Cities and Communities

Responsible Consuption and Production

Climate Action

Life Below Water

Life on Land

Peace, Justice and Strong Institutions

Partnerships for the Goals

The Ipieca-WBCSD SDG Roadmap for the oil and gas sector selected 11 priority SDGs where there is the greatest potential for the industry to positively contribute. The Roadmap's priority SDGs strongly correlate with what companies indicate to be the most material/important SDGs over the years.

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