3 ways Oil and gas companies can report ESG goals

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3 ways Oil and gas companies can report ESG goals
3 ways Oil and gas companies can report ESG goals

3 ways Oil and gas companies can report ESG goals

Environmental, social, and governance (ESG) criteria are a set of standard measures for a company’s behavior used by socially conscious investors to screen potential investments. Environmental criteria consider how a company safeguards the environment, including corporate policies addressing climate change issues.

In this article, we elaborate on ways and means by which oil and gas companies can report ESG goals.

1 . Firstly, REDUCE ENERGY CONSUMPTION VIA LIGHTING

To begin with, lowering energy usage across facilities means less electricity production, which reduces environmental impact. But doing that while maintaining productivity in an industrial facility can be difficult—you can’t just shut down equipment to save on energy. One of the fastest and easiest ways to decrease energy use is to upgrade to modern LED lighting

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REDUCE ENERGY CONSUMPTION VIA LIGHTING
REDUCE ENERGY CONSUMPTION VIA LIGHTING

2 . Secondly, PRIORITIZE SAFETY

What many people often overlook is the importance of the ‘S’ in ESG. While the ‘S’ stands for social and highlights a company’s social responsibility and actions in anticipating risk, safety is a critical piece of the social framework, especially as it relates to employee health as well as well-being.

Companies must create safer work environments for people, both within primary facilities and across the supply chain. Just as reducing pollution protects our planet’s well-being, reducing the risk of accidents and injuries protects the well-being of our people.

PRIORITIZE SAFETY
PRIORITIZE SAFETY

3 . Thirdly, FOCUS ON THE METRICS THAT MATTER

Neither consumers nor investors want projections and estimates when it comes to environmental impact. They want real, measurable proof. Energy companies can start by focusing on things like energy consumption, water management, greenhouse gas emissions, a well as safety performance data, including data from across your supply chain. Also, other tangible metrics can include addressing social impacts like workforce and leadership diversity, and employee health and wellbeing.

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FOCUS ON THE METRICS THAT MATTER
FOCUS ON THE METRICS THAT MATTER

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