From another Oil and Gas service provider.
I can’t fathom to think of the monsters that hide in the closet with this commie propaganda.
Your thoughts?
Why ESG Topics are Trending in the Oil & Gas Industry
ESG topics are buzzing among oil and gas professionals around the world. With the rise in sustainability and environmental concerns in the energy industry and growing conversations around current and future ESG standards, it is vital that companies are proactive rather than reactive. Implementing SCADA systems has many benefits that provide the proactive approach needed to maintain ESG standards. First, it is important to understand the basis of ESG and how these standards apply to the oil and gas industry.
The Meaning of ESG in the Oil & Gas Industry
ESG is an acronym that stands for Environmental, Social, and Governance. ESG standards provide a framework for judging the sustainability and ethicality of an investment. Companies that ignore ESG issues risk being perceived as less desirable investments. Further, regulation of ESG standards is increasing, and proactive ESG standards implementation reduces later compliance burdens.
ESG is especially relevant to oil and gas companies because of the growing pressure on our industry to protect the environment. Below are possible concerns and questions that pertain to the oil and gas industry when it comes to ESG standards.
Environmental - This is the ESG area most impactful to operators. Immediate examples are flaring of natural gas and spills. Fugitive gases at plants and carbon emissions from transportation and compression equipment are other examples.
Social - Employee safety is the most meaningful of these concerns. This area also encompasses human rights and community relationships.
Governance – This encompasses concerns regarding management structure. How are processes and procedures being managed? Are employees receiving adequate support to fulfill their role?
Why ESG is Important to Oil & Gas Companies
The oil and gas industry is inextricably linked to each of the individual elements represented in ESG. The importance of environmental concerns to the industry is obvious. The carbon emissions and energy production of each company may run afoul of regulators and impact how investors view a company. At the same time, communities have a heightened consciousness around social concerns like worker safety and it’s important to act proactively in these areas. Corporate governance is now tasked with developing strategic approaches to each of those concerns, along with an ethical approach to the employee and management structure.
Rather than viewing ESG as an obstacle, many oil and gas companies are beginning to view environmental and social considerations as an opportunity to build value and increase the efficiency of their operations. Evidence indicates that companies that consider and invest in ESG concerns experience a positive return. One specific method of investing in ESG is implementing modern SCADA systems for oil and gas companies.
I can’t fathom to think of the monsters that hide in the closet with this commie propaganda.
Your thoughts?
Why ESG Topics are Trending in the Oil & Gas Industry
ESG topics are buzzing among oil and gas professionals around the world. With the rise in sustainability and environmental concerns in the energy industry and growing conversations around current and future ESG standards, it is vital that companies are proactive rather than reactive. Implementing SCADA systems has many benefits that provide the proactive approach needed to maintain ESG standards. First, it is important to understand the basis of ESG and how these standards apply to the oil and gas industry.
The Meaning of ESG in the Oil & Gas Industry
ESG is an acronym that stands for Environmental, Social, and Governance. ESG standards provide a framework for judging the sustainability and ethicality of an investment. Companies that ignore ESG issues risk being perceived as less desirable investments. Further, regulation of ESG standards is increasing, and proactive ESG standards implementation reduces later compliance burdens.
ESG is especially relevant to oil and gas companies because of the growing pressure on our industry to protect the environment. Below are possible concerns and questions that pertain to the oil and gas industry when it comes to ESG standards.
Environmental - This is the ESG area most impactful to operators. Immediate examples are flaring of natural gas and spills. Fugitive gases at plants and carbon emissions from transportation and compression equipment are other examples.
Social - Employee safety is the most meaningful of these concerns. This area also encompasses human rights and community relationships.
Governance – This encompasses concerns regarding management structure. How are processes and procedures being managed? Are employees receiving adequate support to fulfill their role?
Why ESG is Important to Oil & Gas Companies
The oil and gas industry is inextricably linked to each of the individual elements represented in ESG. The importance of environmental concerns to the industry is obvious. The carbon emissions and energy production of each company may run afoul of regulators and impact how investors view a company. At the same time, communities have a heightened consciousness around social concerns like worker safety and it’s important to act proactively in these areas. Corporate governance is now tasked with developing strategic approaches to each of those concerns, along with an ethical approach to the employee and management structure.
Rather than viewing ESG as an obstacle, many oil and gas companies are beginning to view environmental and social considerations as an opportunity to build value and increase the efficiency of their operations. Evidence indicates that companies that consider and invest in ESG concerns experience a positive return. One specific method of investing in ESG is implementing modern SCADA systems for oil and gas companies.
