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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

Yellow scribble

“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.

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.

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

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.

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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