EVOLUTION OF GHG EMISSIONS DATA DISCLOSURE IN ESG REPORTING BY THE CANADIAN OIL AND GAS INDUSTRY

Evolution of GHG Emissions Data Disclosure in ESG Reporting by the Canadian Oil and Gas Industry

Published On: November 24, 2021

Study No. 197

The Canadian oil and gas sector notices a global trend of investors using companies' environmental, social and governance (ESG) performance and disclosure to guide their investment decisions. Investors have expressed a desire for more accurate, reliable, complete and quantitative ESG metrics, as well as recognized standards and frameworks against which to compare and measure companies. This CERI study reviews the evolution of data availability, consistency, standardization and disclosure for greenhouse gas (GHG) emissions as one of the key environmental performance indicators used by the Canadian oil and gas industry for sustainability and ESG reporting.

The study findings demonstrate an increase in GHG emissions disclosure, including the disclosure of Scope 1 and 2 emissions footprints and intensities, for the last few years. Further improvements in GHG emissions reporting, increasing standardization and transparency and addressing inconsistencies in the disclosure can positively impact ESG scores and enhance oil and gas companies' access to financing.

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