A comprehensive plan of action for social inclusion, environmental sustainability and economic development released by a trio of organizations outlines ways that the oil and gas industry can promote sustainable development.
The report, Mapping the oil and gas industry to the Sustainable Development Goals: An Atlas, explains how the industry can contribute to the achieving 17 Sustainable Development Goals (SDGs) adopted by the United Nations Development Programme (UNDP) in January of 2016. The SDGs address a number of areas, including climate change, economic inequality, innovation, sustainable consumption and justice.
“The overarching aim for businesses in the context of sustainable development should be to do business responsibly—to contribute to society, minimize risks and to do no harm,” according to the report’s executive summary.
The report was jointly released by UNDP, the International Finance Corporation and IPIECA, a global industry association for social and environmental issues in the oil and gas industry. It found that oil and gas companies can help achieve the SDGs by exemplifying good practices and collaborating on sustainable development, among other things.
“Achieving the goals will require partnership and collaboration between and among all sectors and industries. By mapping the linkages between the oil and gas industry and the SDGs, we hope to encourage our clients and partners to further embed the goals into their business and operations and seek out new, innovative ways to contribute to global development,” Bernard Sheahan, the global director of Infrastructure and Natural Resources at IFC, said in a press release.
The report was released last summer at the Sustainable Development Goals Business Forum organized in conjunction with the UN High-Level Political Forum.
The three organizations spend a year preparing the report, and the final product includes consultation and input from the oil and gas industry as well as from civil society, academia and international organizations.
For more information, download the report here.