IPIECA, API, and IOGP recently released the fourth edition of the Sustainability Reporting Guidance for the Oil and Gas industry. The document is intended to provide oil and gas companies with a clear framework to demonstrate their important role in the energy transition by reporting on how they manage climate and sustainability impacts.
Updates to the guidance have been applied to six areas of focus, including: Reporting process; Governance and business ethics; Climate change and energy; Environment; Safety, health and security; and Social impacts. Notably, modifications were made to improve reporting of performance indicators related to climate change and energy.
The updated guidance represents the work of more than 80 representatives from 28 oil and gas companies from six continents and a panel comprised of experts from NGOs, investors and investor groups, banks and expert consultants.
More information can be found at IPIECA’s website.