Reporting on climate change is increasingly expected to go beyond GHGs to cover many other aspects of a company’s climate-related positions and actions. Ipieca helps the industry address these reporting issues by providing guidance and industry reporting standards.
The oil and gas industry has been an early adopter of methodologies to account for and report greenhouse gas emissions, developing the first sector guidance back in 2004 (Ipieca corporate GHG guidelines 2004). Understanding the sources and quantity of emissions is crucial to enable the industry to tackle the most significant emission sources.
In recent years, stakeholders have become increasingly interested in the oil and gas industry’s views on climate change related risks and opportunities and the actions the industry is taking to address them. Ipieca has created a reporting framework for oil and gas companies to use to publicly disclose this information in a simple, straight-forward and transparent manner, that offers a broad coverage of the issues and provides a consistent reporting methodology. A number of Ipieca members are now moving beyond just GHG emissions reporting and piloting Ipieca’s climate change reporting framework.