24 October 2018

ARPEL REPORT ON SUSTAINABILITY REPORTING BY MEMBER COMPANIES

  • The Executive Report "Analysis of Sustainability Reports by ARPEL Member Companies” is now available at the web library. The report was developed with the purpose of opening a path for cooperation with member companies in strengthening dialogue with their various stakeholders.

    This document establishes a baseline on sustainability reporting in ARPEL member companies that represent an important part of the upstream and downstream operations in Latin America and the Caribbean.

    The research is based on information on sustainability made public by member companies on their web sites by 31 December 2017, especially in their reports, and on the analysis of the contents of these reports. The indicators suggested by IPIECA/API/IOGP Guidance on Voluntary Sustainability Reporting, endorsed by ARPEL in 2015, were taken into account for this analysis.

    Companies with better quality reporting and the gaps in this area are identified using four different criteria (coverage, methodology used in the preparation of reports, updating and external validation).

    The results of the study show that sustainability reporting and communication of initiatives in terms of sustainability are widespread practices in the industry. More than 70% of member companies publish information on sustainability on their web sites and 64% of the total number of companies develops some type of sustainability report.

    Meanwhile, 30% of the total number of operating companies can be considered as having a high level of reporting, because they use an internationally recognized methodology, cover more than 70% of the issues proposed by the IPIECA/API/IOGP Guidance, and their reports are audited by a third party and are updated.

    ARPEL, as an organization that represents the oil and gas industry in Latin America and the Caribbean, has defined supporting its members in strengthening their relations with communities and therefore their reputation as a strategic line.

    The contents of this report are not intended to be completed in this instance, but to encourage member companies to report their achievements and also their challenges as part of a transparent policy within the framework of a strategic sustainability plan.

    Click here to read the full report.

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