On June 2, 19951  a voluntary environmental agreement on Implementation of Environmental Policy for the E&P Industry has been signed between the Netherlands’ Government and the Dutch Association of E&P Operators. This so-called E&P

Environmental Covenant, which covers the years 1990 until 2010, comprises quantified environmental targets which should be achieved within a certain period in time. Each individual E&P operator has to provide the Government for a Company Environmental Plan every four years describing the planned reduction measures to achieve those targets. Also yearly the E&P operator has to present a progressreport to the Government. The Government also expects the E&P operator to implement the planned reduction measures through an Environmental Management System based on the ISO 14000 standards. The effectiveness of the implementation is assessed on the basis of environmental performance indicators and by applying benchmarking and a ‘Best In Class’ mechanism.

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