Development is sustainable when it meets the needs of the present without compromising the ability of future generations to meet their own needs.
This is best interpreted by linking practices that ensure equity of economic, social and environment issues within and between generations. Our clients recognise these concepts and are well aware of the challenge this presents as they seek to develop fossil fuels which are effectively non-renewable sources of energy. They also understand that they are a major hazard industry and their stakeholders want reassurance that risks are being properly managed and controlled. The oil and gas industry has developed performance reporting on sustainability that focuses on:
- Environmental Indicators – climate change and energy, ecosystem services, local environmental impact
- Health and Safety Indicators – workforce protection, product stewardship, process safety and asset integrity
- Social and Economic Indicators – community and society, local content, human rights, business ethics and transparency, labour practices.
We help our clients develop sustainable strategies that are relevant to their specific activities, map out what is material (i.e. relative importance to stakeholders vs. company), develop processes to keep the strategic plans on track, provide analysis of performance reporting data. Subject to ensuring independence, we also provide assurance reviews to verify the integrity of the reported data or provide third party commentary in accordance with good practice for transparency.