These impact opportunities fall into three systemic themes – climate, nature and people – all of which support the broader theme of sustainable development. This framing aligns with Ipieca’s 2021-2024 strategy, which aims to advance the oil and gas sector’s environmental and social performance and contribution to the energy transition in the context of sustainable development.
There are eight impact opportunities where Ipieca and oil and gas companies have the greatest potential to scale and accelerate contribution to the SDGs.
While this Roadmap sets out to identify a series of detailed impact opportunities for the oil and gas sector in the context of the SDGs, it is important to note that certain cross-cutting factors will be central to these efforts.
The importance of human rights in achieving the SDGs is explicitly grounded in the Universal Declaration of Human Rights, as well as other international instruments. This Roadmap recognises that a robust commitment by the oil and gas sector to continue to respect human rights throughout its operations and the value chain represents a substantial opportunity to advance human development globally. By proactively considering and implementing the tenets of the UN Guiding Principles on Business and Human Rights framework, and engaging in collaborative initiatives to tackle systemic challenges, companies have the potential to break down significant barriers to development and positively impact the lives of millions of some of the most vulnerable individuals in society – helping to fulfil the central commitment of the SDGs of leaving no one behind.
Voluntary corporate disclosures are an important way for companies to set out their priorities and demonstrate their commitment and progress to sustainable development, which addresses economic, social, and environmental challenges of this generation. The Ipieca-API-IOGP Sustainability reporting guidance for the oil and gas industry provides practical support for reporting of the oil and gas sector’s contribution to the SDGs.