The leadership that oil and gas companies once held in response to their
corporate responsibilities has been relinquished while they struggle to
distinguish their sustainability efforts from each other, says new
research from the Tomorrow’s Value Rating.
The industry is failing to make the same strides for which new and
emerging sustainability leaders in other industries are being lauded
says the report, which uses publicly available information to study how
the world’s ten largest oil and gas companies manage their most pressing
social and environmental issues.
Todd Cort of Two Tomorrows North America Inc., who led the research,
says: “Innovation is where the largest oil and gas companies show
strongest leadership yet a great discrepancy still lies between them and
industries such as Utilities and Telecoms.”
BP tops this Tomorrow’s Value Rating, which reveals parity between the
top seven companies in their management and reporting of sustainability
commitments.
1. |
|
BP (59%) |
2. |
|
Shell (55%) |
3. |
|
ExxonMobil (46%) |
4. |
|
ConocoPhillips (43%) |
5. |
|
Total (42%) |
6. |
|
ENI (42%) |
7. |
|
Chevron (32%) |
8. |
|
Gazprom (7%) |
9. |
|
Sinopec (7%) |
10. |
|
China National Petroleum (6%) |
Dr Cort continues, “Sustainability leaders in other industries are
driving innovation within their products to address pressing
sustainability challenges, and reaping the financial and reputational
benefits.
“The oil and gas sector appears limited to a small number of important
yet fragmented applications: alternative energy technologies, more
efficient methods for finding and extracting petroleum resources and
innovations for safer and more efficient products.”
The report highlights exceptions within BP and Shell, where their quest
for sustainable innovation is demonstrated through new ideas and
processes for benefiting society and the communities in which they work,
for example BP’s independent advisory panels, and Shell’s EcoMarathon
platform.
Also highlighted are Chevron’s leadership in geothermal energy,
ConocoPhillip’s business in lubricants to improve fuel efficiency, and
ExxonMobil’s extensive support of research programmes for low carbon
energy.
Dr Cort concludes, “The overall message is one of opportunity. The top
performers could all emerge as a sector leader, and perhaps global
leader once again. To do so will require not only vision and commitment
but real change and improvement against the greatest global challenges.”
www.tomorrowsvaluerating.com
Two Tomorrows
Todd Cort, +1 415-362-3630
todd.cort@twotomorrows.com
or
Forsyth
Websper
Penny Adair, +44 (0) 117 904 1073
penny@pennyadair.co.uk