The Council’s ESG Committee hosted an best-practice sharing session on October 14 for participants of the ESG Certification Program to discuss challenges and solutions with peers.
Representatives from AMGAS, Deep Well Services, DistributionNOW, Exterran, GO Wireline LLC, Hunting Energy Services, Milestone Environmental Services, MRC Global, Murphy Oil, Mustang Cat, NexTier Oilfield Solutions, Oil States Energy Services, Pioneer Energy Services, ProFrac, ProPetro, Schlumberger, Solaris Oilfield Infrastructure, Weldfit, and XRI Holdings participated in the event.
Council Senior Advisor Andy Knapp facilitated the session.
“As investors and government regulators push for ESG disclosures, it’s important for companies in our sector to make sure they’re prepared,” Knapp said. “Many in our sector are already operating with core values and strategies aligned with ESG objectives.”
The virtual meeting allowed participants to break into small group discussions where they considered questions such as ESG activity and perception, materiality and data collection, and core values.
“The big picture of ESG is operating with integrity and efficiency.”ESG Certification Program Participant
Another said their company needs to think more about what ESG is and how it connects to the company. “Our employees tend to think of ESG-related things as just how we do business and not in terms of the need to report specific activities and outcomes.”
While some thought ESG was more of a reporting and communications challenge, others described the need for internal work at their organization.
“You actually have to create a mindset within the organization. What is the source of that motivation and inspiration to change how you behave every day?”ESG Certification Program Participant
Several members discussed resource challenges after the devastating effects of the pandemic.
“We don’t have the human or financial capital to create new programs,” said one participant. “Our team is focused on capturing what we do and do well. That’s where we’re starting.”
Participants also analyzed the need to align their ESG goals with those of their industry partners.
“Some of our customers have clear ESG plans, some don’t but are starting to ask questions. We’re looking hard at how we can better serve the needs of those customers.”ESG Certification Program Participant
For more information about the ESG Committee or the ESG Certification Program, contact Senior Advisor Andy Knapp. Registration is now open for the 2022 program cohort.
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