Charting Your ESG Position
The landscape of ESG continues to mature, and the rise in expectations of companies is gaining momentum everywhere, including the oil and gas industry. Companies in the industry are increasingly setting new commitments, expanding the breadth and depth of their ESG reporting, and embarking on initiatives that signal game-changing leadership to the industry. This trend leaves many oil and gas leaders working to understand if their company is falling behind in ESG, where their efforts lie on the broader spectrum, and how to prioritize in the face of evolving expectations. And amid a whirlwind of announcements, frameworks, and initiatives, leaders are facing the conundrum of whether and how they should position their companies’ ESG efforts as leading, fast following, or somewhere behind.
As the 2021 ESG reporting season came to a close, Adamantine examined a diverse set of oil and gas companies to gain a clearer picture of ESG positioning and leadership within the industry. Our team surveyed the ESG reporting materials of 38 publicly traded companies across the value chain, all with principal operations in the United States and with annual revenue ranging from $500 million to $100 billion. To gauge where the bar is being set and assess for leading indicators within specific ESG topics, we focused on prominent companies considered to be authentically engaged in proactive ESG strategies.
Adamantine’s analysis does not mention companies by name or refer to specific numbers; readers seeking a comparative analysis of their peer group are encouraged to reach out for a customized engagement.
This report summarizes our findings and analysis. Our aim: to provide oil and gas leaders with insights and recommendations for meeting the evolving expectations around ESG and honing their ESG propositions into 2022.