To assist oil and gas companies with reporting on non-financial performance, IPIECA – the global oil and gas industry association for environmental and social issues, the American Petroleum Industry (API) and the International Association of Oil and Gas Producers (IOGP) published the Oil & Gas Industry Guidance on Voluntary Sustainability Reporting in 2005 as a framework for improving the quality and consistency of voluntary sustainability reporting. As societal and stakeholder concerns about energy security, climate change and related issues persist, sustainability reporting in the oil and gas sector continues to play a pivotal role in the way individual companies engage with a broad range of stakeholders on their activities and plans. The Guidance was first revised in 2010, and then again more recently in 2015, to update the framework, refine indicator protocols, and introduce new indicators where needed. This paper discusses the value of sustainability reporting, the motivation behind the update and the changes made, before providing an overview of social performance indicators in the Third Edition of the Guidance.

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