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    Producers Update Sustainability Standards


The guidance has been revised in six areas.

by: William Powell

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Producers Update Sustainability Standards

Three global oil and gas industry associations published March 30 the fourth edition of the Sustainability reporting guidance for the oil and gas industry.

Ipieca, the American Petroleum Institute (API), and the International Association of Oil & Gas Producers (IOGP) said the Guidance provides 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 and opportunities.

The changes affect six areas: reporting process; governance and business ethics; climate change and energy; environment,; safety, health and security; and social impacts.

They said the updated guidance represents the work of more than 80 representatives from 28 oil and gas companies from six continents and an independent external stakeholder panel comprised of experts representing NGOs, investors and investor groups, banks and expert consultants.

Ipieca describes itself as the global oil and gas industry association for advancing environmental and social performance.