Petrushevski Martin - Sustainability Reporting in the Oil and Gas Industry According to the GRI Guidelines
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Petrushevski Martin - Sustainability Reporting in the Oil and Gas Industry According to the GRI Guidelines
- 1. SUSTAINABILITY REPORTING WHAT DO THE GLOBAL TOP TEN OIL AND GAS COMPANIES REPORT ON? Thesis supervisors: Torbjörn Brorson, Konstantinos Evangelinos Martin Petrushevski, LU, CEU, Budapest - June 17 2014 MESPOM 2012-2014
- 2. PRESENTATION OUTLINE • Problem definition • Research question • Methodology • Results • Conclusions and recommendations Martin Petrushevski, Sustainability Reporting 28 July 2014 2 MESPOM 2012-2014
- 3. OIL AND GAS PRODUCTION Martin Petrushevski, Sustainability Reporting 28 July 2014 3 MESPOM 2012-2014 Image source: BP 2012 (with amendments)
- 4. Image source: Usresponserestoration 2014. Image source: Andrewfrank 2013.Image source: Capitolalert 2010. Image source: Wikimedia 2010b. Image source: Wikimedia 2010c.
- 5. RESEARCH QUESTION • To what extent do sustainability reports in the oil and gas industry comply with the GRI Guidelines for sustainability reporting? Martin Petrushevski, Sustainability Reporting 28 July 2014 5 MESPOM 2012-2014
- 6. METHODOLOGY AND RESEARCH DESIGN • Literature review • Top ten oil and gas companies in 2013 • GRI Guidelines • Evaluation framework development • Results Martin Petrushevski, Sustainability Reporting 28 July 2014 6 MESPOM 2012-2014
- 7. OIL AND GAS COMPANIES 28 July 2014 7 MESPOM 2012-2014 Martin Petrushevski, Sustainability Reporting 1. ExxonMobil 2. Shell 3. PetroChina 4. Chevron 5. Gazprom 6. BP 7. Petrobras 8. Total 9. Sinopec 10. Eni
- 8. GLOBAL REPORTING INITIATIVE (GRI G3.1 OGSS) • Profile and Governance • Strategy and Analysis • Organizational Profile • Report Parameters • Governance, Commitments and Engagement Martin Petrushevski, Sustainability Reporting 28 July 2014 8 MESPOM 2012-2014 • Management Approach and Performance Indicators • Economic Indicators • Environmental Indicators • Social Performance Indicators • Labor Practices and Decent Work • Human Rights • Society • Product Responsibility
- 9. EVALUATION TEMPLATE Martin Petrushevski, Sustainability Reporting 28 July 2014 9 MESPOM 2012-2014
- 10. FINDINGS: STRATEGY AND ANALYSIS Martin Petrushevski, Sustainability Reporting 28 July 2014 10 MESPOM 2012-2014 Topics: 2
- 11. FINDINGS: ORGANIZATIONAL PROFILE Martin Petrushevski, Sustainability Reporting 28 July 2014 11 MESPOM 2012-2014 Topics: 10
- 12. FINDINGS: REPORT PARAMETERS Martin Petrushevski, Sustainability Reporting 28 July 2014 12 MESPOM 2012-2014 Topics: 13
- 13. FINDINGS: GOVERNANCE Martin Petrushevski, Sustainability Reporting 28 July 2014 13 MESPOM 2012-2014 Topics: 17
- 14. FINDINGS: ECONOMIC PI Martin Petrushevski, Sustainability Reporting 28 July 2014 14 MESPOM 2012-2014 Topics: 10
- 15. FINDINGS: ENVIRONMENTAL PI Martin Petrushevski, Sustainability Reporting 28 July 2014 15 MESPOM 2012-2014 Topics: 32
- 16. FINDINGS: SOCIAL PI Martin Petrushevski, Sustainability Reporting 28 July 2014 16 MESPOM 2012-2014 Topics: 15 Topics: 12 Topics: 14 Topics: 10
- 17. OVERALL RESULTS • The frontrunners Martin Petrushevski, Sustainability Reporting 28 July 2014 17 MESPOM 2012-2014 • The better-than-average reporters • The mediocre reporters • The trailers
- 18. CONCLUSIONS AND RECOMMENDATIONS • Four categories identified • The frontrunners • The better-than-average-reporters • The mediocre reporters • The trailers • Higher scores for first part of the guidelines • Strategy and analysis (95%) • Organizational profile (91.8%) • Report parameters (85.7%) • Governance (81%) • External assurance • Applicability of GRI Guidelines Martin Petrushevski, Sustainability Reporting 28 July 2014 18 MESPOM 2012-2014 • Lower scores for TBL PIs • Economic (66.9%) • Environmental (42.4%) • Social (37.6%)
- 19. 28 July 2014 19
- 20. REFERENCES • Andrewfrank 2013. Portfolio: Andrew Frank Communications. URL: http://andrewfrank.com/wp- content/uploads/2013/05/Exxon-Valdez-Aerial-Photo-AF.jpg. [consulted 9 June 2014]. • Usresponserestoration 2014. Remembering the Exxon Valdez: Collecting 25 Years of Memories and Memorabilia. URL: http://usresponserestoration.wordpress.com/2014/03/24/remembering- the-exxon-valdez-collecting-25-years-of-memories-and-memorabilia/. [consulted 9 June 2014]. • Wikimedia 2010a. Deepwater Horizon offshore drilling unit on fire. URL: http://upload.wikimedia.org/wikipedia/commons/9/9d/Deepwater_Horizon_offshore_drilling_unit_ on_fire_2010.jpg. [consulted 9 June 2014]. • Wikimedia 2010b. Deepwater Horizon oil spill. URL: http://upload.wikimedia.org/wikipedia/commons/7/7b/Deepwater_Horizon_oil_spill_- _May_24,_2010_-_with_locator.jpg. [consulted 9 June 2014]. • Wikimedia 2010c. Oiled pelicans. URL: http://upload.wikimedia.org/wikipedia/commons/4/48/Oiled_Pelicans.jpg. [consulted 9 June 2010]. 28 July 2014 20
Editor's Notes
- Upstream 1 & 2 Midstream 3 Downstream 4 & 5 Economy vs. Problems
- - Prince William Sound’s Bligh Reef 260,000 to 750,000 barrels +1,700km remote shoreline contaminated in Alaska ** vertical depth of 10,683 m + fireball ** 11 crewmembers died + injured ** 4.9 million barrels (5 months) ** damage to public health, natural resources, wildlife and their habitats. CSR, GRI in 2000, TBL reporting
- - Scope -
- Sustainability Reporting History Present GRI + IR Criticism Assessment methodologies UN Global Compact and ISO 26000 considered, but not utilised
- noteworthy market value highly valuable products and services
- G3.1 with OGSS Compliance level A(+) External assurance (+)
- - Core indicator
- Statement: - economically oriented, some environment - future sustainability developments - long-term feasibility key impacts, risks, and opportunities indicator
- maximum points on generic, easy-to-obtain information Less information on: Geographic breakdown Scale of reporting organization Awards received: Dow Jones sustainability index CSR related topics leadership
- Yes: contact person identified key materiality issues failed: materiality topic prioritisation stakeholder identification data measurement techniques significant changes External assurance: Ernst & Young, Lloyd’s Register Quality Assurance, IPIECA
- Yes: internal mechanisms external charters: GRI and IPIECA, OGP, and API associations, UN GC and CDP. Precautionary approach indicator (6 out of 10) stakeholder groups: employees, shareholders, local communities and indigenous peoples, suppliers, and governments
- yes: direct and indirect economic value financial risks and opportunities due to climate change defined benefit plan locally based suppliers infrastructure investments least information: significant assistance governments range of ratios wage
- No: materials section Energy: + direct - indirect energy consumption indicator. Money renewable energy Biodiversity, impacts on biodiversity Emissions, more on GHG emissions Compliance Transport least environmental expenditures and investments by type.
- Labor: employment and workforce turnover breakdown; occupational health and safety; training; and diversity. Human rights: non-discrimination; child labor; and indigenous rights. Social: local communities; public policy; and compliance with laws and regulations. PR: life cycle stages; product and service labelling; and biofuels.
- External assurance: PetroChina awesome report