Global Climate Disclosure Framework for Oil & Gas Companies

Companies in the industry typically focus reporting on direct emissions from their own operations but provide little detail on the impact of product liabilities and changes in end-demand despite the accelerating momentum to adapt to lower-emission technologies. Similarly, notwithstanding the evidence of recent years that weather-related disruptions can have significant physical impacts on companies’ assets, investors find it difficult to assess the risks faced through the exposure of current or future operations to extreme weather events, reflecting both the volatility of weather patterns in many regions and companies’ frequently limited disclosure on the specific locations and exposures of their assets. This document outlines the main areas of reporting believed to bee necessary to allow investors to fully assess the impacts of climate-related changes on Oil and Gas companies.