|Publisher||Society of Petroleum Engineers||Language||English|
|Content Type||Conference Paper|
|Title||Sustainability reporting on the rise within the Petroleum Industry - A view of the industry and experiences from an NOC, IOC and Service Company|
Paul Krishna, ExxonMobil; Bertrand Janus, Total; Cynthia Ann Peterson, PETRONAS; Brett Doherty, RasGas; Robert Sherman, Halliburton; Helen Murphy, IPIECA; and Charlie Curlee, Independent
International Conference on Health, Safety and Environment in Oil and Gas Exploration and Production, 11-13 September 2012, Perth, Australia
2012, SPE/APPEA International Conference on Health, Safety, and Environment in Oil and Gas Exploration and Production
|2.6 Sustainability/Social Responsibility
2.6.1 Integrating HSE into the Business
2.6.3 Social Responsibility
2.6.4 Community Outreach
2.6.5 Partnership and Communication
SUSTAINABILITY REPORTING: COMMUNICATING PERFORMANCE
Oil and gas companies must therefore continue to discover, produce and supply these energy resources, and it is essential that they do so in a safe, environmentally sound and socially responsible manner. This requires safeguarding the environment; respecting the rights of others; protecting the health, safety and security of workers and the public; meeting increasingly stringent laws and regulations, and yet managing a range of operational, reputational and financial risks. An additional responsibility for companies is the need to communicate openly how they conduct their operations – the vision, decisions and strategies used to pursue resource developments. Sustainability reporting is therefore both a responsible and an expected method for companies to communicate publicly on environmental and social performance. The oil and gas industry has made significant progress on these objectives but challenges remain and individual companies need to tell their own sustainability stories in a clear, transparent, and honest manner.
Finally, sustainability reporting also helps to establish a basis for continuous improvement in business processes and risk management. In particular, reporting has value for reputational risk, access to capital, and strengthened customer and employee relationships. For oil and gas companies, reporting can provide a robust platform for describing how strategic issues are being addressed through long-term plans and current initiatives. Stakeholders can now find details of a company’s high level vision and strategy for dealing with sustainability-related impacts, implementing action plans and assessing outcomes on company websites and in annual reports.