Oil & Gas Industry embraces Sustainable Development Goals
By Ir . Abdul Razak Yakob Ir . Razmahwata Mohamad Razalli
FEATURE
The UN Sustainable Development Goals ( SDGs ) set the year 2030 as the deadline to achieve its 17 goals . The International Petroleum Industry Environmental Conservation ( IPIECA ), in collaboration with the World Business Council for Sustainable Development ( WBCSD ), developed a ‘ SDG Roadmap for the oil and gas sector ’. The roadmap lists three themes : Climate , Nature , and People . In the climate theme , the impact opportunities are policy and partnerships , innovation , and operations . In the nature theme , the impact opportunities are resources management and biodiversity , land , and water stewardship . In the people theme , the impact opportunities are governance and transparency , communities and thriving workforce . All the global major operators such as BP , ExxonMobil , Repsol , Shell and Total have pledged their support for these efforts ( Cholteeva , 2022 ).
The Malaysian oil and gas industry ( O & G ) is focusing on SDG 13 , that is to “ take urgent action to combat climate change and its impacts ”. The national oil company , PETRONAS has a major influential role in the O & G industry and intends to drive a fundamental shift in the way energy is produced . PETRONAS announced its aspiration to achieve net zero carbon emissions by 2050 as part of their holistic approach to sustainability that balances Environmental , Social and Governance ( ESG ) considerations across their value chain ( PETRONAS , 2021 ). This is an encouraging action , because in Malaysia , all O & G companies look to
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