Many Oil & Gas Companies Shun Sustainability Goals

Benchmarking Study Reveals that Half of Top Firms Have Not Announced Specific Goals

New York City (October 11, 2011) – Green Research, a New York-based corporate sustainability research and advisory firm, today released its latest benchmark of corporate environmental sustainability goals, this one analyzing the oil and gas industry. The study found that the industry is distinguished by its reluctance to set specific sustainability goals. “It is striking how few of the major oil and gas companies have set public goals,” said David Schatsky, principal analyst and founder of Green Research. “This industry could do a better job of meeting the expectations of investors and of the public.”

The study found that just five of the 11 largest global oil and gas companies have announced any public environmental sustainability goals at all. The study considered as goals only specific commitments that deliver environmental benefits and have either quantitative targets or specific timeframes. The research provides a quantitative analysis of the public sustainability goals of the top companies in this industry, showing how many goals each company has declared and which sustainability issues are getting the most attention. Companies profiled include Chevron, ENI, ExxonMobil, Petrobras and Total. BP, ConocoPhillips, GazProm, PetroChina, Royal Dutch Shell, SinoPec are also mentioned.

Among the other findings:  Italian producer ENI has announced more goals than any of the other companies studied:  it has 13 sustainability goals on the books targeting issues ranging from reducing greenhouse gas emissions to obtaining environmental certifications for its operations. Acknowledging that corporations are increasingly using sustainability goals as a point of competitive differentiation, the study finds that companies in this industry could distinguish themselves by setting specific goals for managing water consumption, preserving biodiversity and developing and using renewable energy.

The oil and gas industry sustainability goals benchmarking research is available online at greenresearch.com. To learn more about the research, please visit greenresearch.com or contact David Schatsky at 646-783-8337 or info@greenresearch.com.

Contact:
David Schatsky
info@greenresearch.com
646-783-8337
###

Advertisements

Leave a comment

Filed under press release

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s