April 2005, American Petroleum Institute (API), International Petroleum Industry Environmental Conservation Association (IPIECA)
The purpose of the Oil and Gas Industry Guidance on Voluntary “Sustainability” Reporting is to assist current and future oil and gas companies in improving the quality and consistency of voluntary reporting on their environmental, health and safety, social and economic performance. This guidance document is designed to be a voluntary reference tool to help companies interested in developing or enhancing their reporting on these issues.
Given the evolving nature of sustainability or non-financial performance reporting, the intent of this document is to help reporting companies:
- Understand how to prepare and what to consider including in a report
- Improve data consistency and quality
- Foster improved processes for efficient data collection
- Create new opportunities for internal and external benchmarking
- Demonstrate industry commitment for consistent and transparent performance reporting
- Encourage and facilitate stakeholder feedback, engagement and dialogue processes
- Use this information to improve business processes, strategies and actions
