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185239 Social Performance Indicators in the Update of the Oil and Gas Industry Guidance on Sustainability Reporting H. Murphy, R. Collacott, IPIECA; Dr.

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Presentation on theme: "185239 Social Performance Indicators in the Update of the Oil and Gas Industry Guidance on Sustainability Reporting H. Murphy, R. Collacott, IPIECA; Dr."— Presentation transcript:

1 185239 Social Performance Indicators in the Update of the Oil and Gas Industry Guidance on Sustainability Reporting H. Murphy, R. Collacott, IPIECA; Dr. J. A. Campbell, IOGP; A. Padilla, API

2 The Value of Sustainability Reporting
Slide 2 The Value of Sustainability Reporting Sustainability reporting is an important way for companies to engage with stakeholders and foster informed dialogue and understanding Key business drivers for reporting include: Enhanced business and brand value Provides evidence the company is managing material risks Boosts investor and financial market confidence Improved internal operations, recruitment and morale Spreads knowledge of the company’s sustainability approach Improves data and knowledge management Strengthened relationships With local communities, civil society, governments and other key stakeholders Enhanced trust, credibility and licence to operate Customers, suppliers and wider society better understand the company’s brand and operations • Oil and Gas Social Sustainability Reporting Guidance • Chris Hawkes

3 Oil and Gas Industry Guidance on Voluntary Sustainability Reporting
Slide 3 Oil and Gas Industry Guidance on Voluntary Sustainability Reporting In order to help companies develop or improve their sustainability reporting performance, IPIECA, IOGP and API jointly publish a guidance document, revised most recently in 2015 This guidance is a reference tool aimed at helping companies to develop corporate level reporting Covers a range of sustainability issues relevant to the oil and gas industry Based on industry consensus and extensive input from stakeholders Guidance remains voluntary and does not set minimum requirements • Oil and Gas Social Sustainability Reporting Guidance • Chris Hawkes

4 How does the Guidance help?
Slide 4 How does the Guidance help? Universally applicable across industry Helps companies decide on: ‘How’ to report, by describing a process for reporting ‘What’ to report, by encouraging companies to make informed choices on what to report based on issues of significance to them and their stakeholders Provides broad range of suggested indicators on: Environmental issues Health and safety issues Social and economic issues Indicators specifically tailored for oil and gas reporting needs Offers a choice on the depth and detail to be communicated Useful for first-time reporters or experienced practitioners • Oil and Gas Social Sustainability Reporting Guidance • Chris Hawkes

5 Social Performance Indicators in the Guidance
Slide 5 Social Performance Indicators in the Guidance Five issue areas for reporting: Community and Society Local Content Human Rights Business Ethics and Transparency Labour Practices Social and economic issues and indicators 18 suggested reporting indicators Indicators generally qualitative due to complexity and local dimension of social issues Companies can determine which indicators are relevant to them • Oil and Gas Social Sustainability Reporting Guidance • Chris Hawkes

6 Changes in the 2015 Update Overall Social
Slide 6 Changes in the 2015 Update Overall Social Encourages stronger reporting practices on strategy on key sustainability issues A new issue area on water, with comprehensive updates to two water indicators A new indicator covering planning and execution of decommissioning activities Review and upgrade a range of reporting indicators to reflect improved maturity and consistency Better alignment with the UNGPs New social performance indicators: Efforts to promote the UNGPs in the supply chain Measures to preserve archaeological, historic and cultural sites Existing indicators updated: Community engagement processes included in other indicators Transparency reporting updated to reflect legislation • Oil and Gas Social Sustainability Reporting Guidance • Chris Hawkes

7 Slide 7 Conclusion Given the energy challenge facing society, the industry will become ever more scrutinised. So, good sustainability reporting practice is increasingly important. The Guidance is a useful tool to anyone within the oil and gas industry, whether experienced or new reporters. It can be used to report performance to different audiences in different ways—for activities in a single country, for large projects or for a single operation. • Oil and Gas Social Sustainability Reporting Guidance • Chris Hawkes

8 Slide 8 Thank You Download a free copy of the Guidance, along with other IPIECA publications, at:

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