24 October 2018

ARPEL REPORT ON SUSTAINABILITY REPORTING BY MEMBER COMPANIES

  • The Executive Report "Analysis of Sustainability Reports by ARPEL Member Companies” is now available at the web library. The report was developed with the purpose of opening a path for cooperation with member companies in strengthening dialogue with their various stakeholders.

    This document establishes a baseline on sustainability reporting in ARPEL member companies that represent an important part of the upstream and downstream operations in Latin America and the Caribbean.

    The research is based on information on sustainability made public by member companies on their web sites by 31 December 2017, especially in their reports, and on the analysis of the contents of these reports. The indicators suggested by IPIECA/API/IOGP Guidance on Voluntary Sustainability Reporting, endorsed by ARPEL in 2015, were taken into account for this analysis.

    Companies with better quality reporting and the gaps in this area are identified using four different criteria (coverage, methodology used in the preparation of reports, updating and external validation).

    The results of the study show that sustainability reporting and communication of initiatives in terms of sustainability are widespread practices in the industry. More than 70% of member companies publish information on sustainability on their web sites and 64% of the total number of companies develops some type of sustainability report.

    Meanwhile, 30% of the total number of operating companies can be considered as having a high level of reporting, because they use an internationally recognized methodology, cover more than 70% of the issues proposed by the IPIECA/API/IOGP Guidance, and their reports are audited by a third party and are updated.

    ARPEL, as an organization that represents the oil and gas industry in Latin America and the Caribbean, has defined supporting its members in strengthening their relations with communities and therefore their reputation as a strategic line.

    The contents of this report are not intended to be completed in this instance, but to encourage member companies to report their achievements and also their challenges as part of a transparent policy within the framework of a strategic sustainability plan.

    Click here to read the full report.

MORE NEWS

15 April 2019

PETROBRAS HOSTED THE 2019 ANNUAL ASSEMBLY OF REPRESENTATIVES

Petrobras, founding member of ARPEL together with Ancap, Ecopetrol, Enap, Pdvsa, PetroperĂș, YPF and YPFB, hosted the Annual Meeting of ARPEL Representatives, which was held April 5 in Rio de Janeiro, Brazil. The meeting was ...
12 April 2019

TGN: NEW ARPEL MEMBER COMPANY

Transportadora de Gas del Norte (TGN) joins the group of ARPEL member companies, thus committing itself to the exchange of knowledge and experiences and to the development of the sector by fostering best practices and ...
05 April 2019

New ARPEL Publication: White Paper "Systemic Approach to Improve Recovery Factors of Oil Resources"

ARPEL recently launched the white paper "Systemic Approach to Improve Recovery Factors of Oil Resources," which aims to share with various stakeholders options to improve the recovery factors of mature oil reservoirs in a systemic ...
25 March 2019

ARPEL signed the Women's Empowerment Principles, an initiative of the UN Global Compact and UN Women

Montevideo, March 25, 2019. The Regional Association of Oil, Gas and Biofuels Sector Companies in Latin America and the Caribbean (ARPEL) signed the statement of support to the Women's Empowerment Principles promoted by UN Women ...