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case study: esg strategy

How do you determine what your ESG strategy should be? 

at a glance

challenges

  • No formalised ESG strategy. 

  • Limited existing emissions data.

  • Increasing pressure from investors and regulators to demonstrate strong ESG strategy and awareness of emissions.

  • Limited internal resources and knowledge.

outcomes

  • Materiality assessment to identify high-impact and financially material issues.

  • Development of high-level ESG strategy with clearly stated vision and goals.

  • Detailed breakdown of actions and data requirements to contribute to achieving metrics across E-S-G pillars.

  • Management and staff engagement to communicate strategy and develop ESG-aware culture.

“sustain:able’s assistance in helping us define and develop our ESG strategy has been invaluable and we very much look forward to continuing to work with the sustain:able team.”

client rep​

objectives

A European oil and gas operator were under increasing pressure from lenders, investors and regulators to demonstrate a clear ESG strategy and awareness of their current and future emissions as the company grew.

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The main objective was to formulate a clear ESG strategy with relevant data collection processes, enabling integration into their risk management system and reporting of measurable metrics to stakeholders to demonstrate progress.

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steps taken

  • Conducted materiality assessment, engaging with management team and key staff to identify material topics.

  • Developed overarching ESG strategy, integrated with company’s core values and relevant UNSDGs.

  • Defined detailed breakdown of strategy goals to include metrics and associated data collection processes to enable objective reporting on progress.

  • Integrated material topics into corporate risk register and risk management system.

  • Selection of relevant ESG frameworks together with a staged roadmap and data listing appropriate for scale of operations and to enable company to work towards compliance ahead of mandatory reporting requirements.

  • Evaluated current and forecast emissions for planned activities, engaging technical and engineering teams in discussions around emissions reduction technologies and processes.

  • Delivered workshops with management, board members and staff.

  • Supported preparation of website, annual report, board papers and investment materials.

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results

clear ESG strategy

Clear ESG strategy with goals and metrics to enable progress to be demonstrated in an objective manner and easily communicated to stakeholders.

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development of ESG-aware culture in a growing company​

Integration of the ESG strategy and management of risks of material topics communicated across the company on an ongoing basis to foster an ESG-aware company culture that supports ownership and delivery on the strategy.

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