Benefits of reporting

Good quality reporting can help you to:

• Enhance business value: investor and regulator trust and confidence can grow with evidence that your company is managing risks and taking advantage of opportunities
• Clarify purpose: examples of current initiatives and long-term plans can show how you are addressing strategic issues, and responding to stakeholder responding positively to stakeholder engagement
• Improve operations: by helping employees better understand your company´s sustainability values, performance indicators and external drivers
• Strengthen relationships: stakeholders can gain a source of reliable information to understand and judge your company’s performance
• Enhance credibility: customers, suppliers and wider society can understand the company’s values, brand, operations and products
• Improve access to capital: evidence shows that good sustainability performance can contribute to improved financial performance

How to start reporting

The Sustainability reporting guidance for the oil and gas industry is designed to help sustainability managers, communications professionals and environmental, health and safety or socio-economic specialists in oil and gas companies develop voluntary corporate-level reporting for internal and external stakeholder audiences. At the same time, it can also be useful for those providing services to the industry, such as oilfield service companies, contractors, and other stakeholders looking to develop and improve their own reporting practices. Organizations operating at a national, regional or international level can gain value from the Guidance.

'Module 1 – Reporting Process' provides a detailed introduction to sustainability reporting and covers detailed information on 'Why report?', 'How to report' and 'What to report'.