The Council’s ESG Certification Program gathered for the second quarter ESG best practice sharing session on June 10. The quarterly sessions allow participants to get to know one another while sharing insights on best practices, criteria and reporting.
Participants gathered in small breakout groups to discuss ESG messaging within companies, where ESG overlaps across industries, how companies are working with vendors and customers to align and ESG auditing best practices.
Short-term, the participants agreed messaging was still in its infancy, with a need to get clear messaging delivered throughout the entire organization.
“ESG overall has been driven very much top down throughout organizations, owners or boards are typically driving this,” said one participant. “For the message to be effective there probably needs to be more training and communications, not just about what we’re measuring but the ‘why.’ Short-term, ESG is moving from discussion to a more substantive stage where decision-makers are identifying what’s important and taking action rather than talking about what sounds important.”
One group agreed that organizations must implement and reinforce ESG initiatives to achieve success.
“It will be important to address ESG in briefings and meetings, similar to safety moments. Specific data points being shared with employees will really drive ESG home. They’ll see it’s not just lip service, but it’s contributing to something greater than itself.”
Participants expressed a positive outlook about ESG implementation.
“Long-term we feel like it’s going to be good for business just like health and safety,” said another participant. “Fifteeen to 20 years ago there was a cultural hesitance, and now everybody is completely bought into and focused on it. We feel like we might be heading that direction.”
Participants thought organizations should prepare for a long journey implementing ESG initiatives but that following a good path will yield a positive outcome.
“We hope to mature in our ESG efforts to a point where the E, S and G actions we take are fundamentally correct, not only in the eyes of ESG practitioners, but because they are the things successful businesses do in society. Outcomes will then be measured in emissions, healthy employees and communities, and sound business practices.”
Participants also said they believe oil and gas companies recognize society’s shifting expectations and the many opportunities and challenges that the future holds.
For more information about the Council’s ESG efforts, contact Senior Advisor, ESG, Sustainability and Energy Transition Andy Knapp.
Peggy Helfert, Senior Director Programs and Events, writes about the Council’s sector-specific best practices and leadership. Click here to subscribe to the Council’s newsletter, which highlights industry practices, workforce development, Council activities and more.