Andrea Di Lillo | Source | OPEX O&G Global Business Development Director at Bureau Veritas

We see ESG as a framework for translating goals, which above all is the energy transition, into practical and concrete actions. In the past, we measured the oil and gas industry by the number of barrels of production capacity, the complexity of our refineries, and the integration of upstream and downstream. Now, we also review the contribution of these assets in terms of sustainability and measure them against the SDGs and now ESG. The ‘S’ and the ‘G’ create opportunities for oil and gas operators to identify and enact specific actions to drive progress. But the focus today is on the ‘E’ of ESG—specifically the contribution that the oil and gas industry can make toward net zero.

Today, the companies that really engage with their local communities can deliver a win-win outcome that supports their ESG goals and delivers long-term value creation, which is of real value to their investors.