Global oil and gas association Ipieca launches membership principles

Ipieca, the global oil and gas association for advancing environmental and social performance across the energy transition, has made the support of eight Ipieca Principles a new condition of membership.

The Ipieca Principles are grouped under the association’s four strategic pillars of climate, nature, people and sustainability, the association said in a statement.

According to the association, each thematic area includes two principles: the first provides support for a United Nation’s convention or initiative; the second is designed to advance the environmental and social performance of Ipieca member companies’ operations.

Prominent among the Climate principles are the support for the Paris Agreement and its aims, and advancing emissions reduction and innovation.

The Nature principles aim to support the UN Convention for Biological Diversity, and responsibly manage operational impacts on the natural environment and ecosystem services.

Key among the People principles are the support for the UN Guiding Principles on Business and Human Rights, and promoting the health, wellbeing and social inclusion of workforces and local communities relating to operations.

The Sustainability principles are based on the support for the UN 2030 Agenda for Sustainable Development as embodied by the Sustainable Development Goals, and integrate sustainability across activities, increase transparency and engage with key stakeholders.

“The Ipieca Principles demonstrate Ipieca’s commitment to working with members and stakeholders to lead the industry through a sustainable energy transition,” Morten Mikkelsen, Ipieca Chair, said in a statement.

“By setting expectations for members’ management approach in the areas of climate, nature, people and sustainability, and providing tangible actions to achieve them, Ipieca is inspiring action on our vision to advance the industry’s environmental and social performance and contribution to the energy transition in the context of sustainable development,” he added.

The Ipieca Principles not only set sustainability expectations for its members, but also demonstrates Ipieca’s commitment to working with members and stakeholders to lead the global oil, gas and alternative energy industry through a sustainable energy transition.