
Addressing ESG in Your Supply Chain
As companies approach annual contractor and vendor review meetings, we at Adamantine have new best-practice recommendations for oil and gas leaders.
As companies approach annual contractor and vendor review meetings, we at Adamantine have new best-practice recommendations for oil and gas leaders.
Just when leaders have started implementation of their ESG plans, the anti-ESG movement is getting some traction. What should you do when you get contradictory ESG messages from important corners?
One company’s Scope 3 emissions are another’s Scope 1. It’s tempting to throw up your hands and declare accounting for your company’s Scope 3 emissions an unreasonable, even impossible task. But who is required to account for this Scope 3?
I’ve talked to dozens of oil and gas executives for my upcoming book — and the more conversations I have and the deeper I get into the writing, the more I realize that every single component of your company’s energy transition strategy needs to be about people.
For the last several years, BlackRock has set the pace for how investment firms will drive ESG performance at portfolio companies. (See our 2020 and 2021 notes on BlackRock.) Larry Fink’s letter to the CEOs of BlackRock’s portfolio companies in January made headlines for its focus on relationships with employees and pushback on divestiture.
Nothing makes me want to put my head in my hands like imagining the U.S. Security Exchange Commission’s (SEC) anticipated “consistent, comparable, and reliable” rules on climate-related financial disclosures. Yet the more our team at Adamantine digs into this, the more opportunity we see for game-changing oil and gas companies.
When it comes to policy, we all buy into the adage, “If you’re not at the table, you’re on the menu.” But what’s worse than being on the menu? Not being in the restaurant at all. That’s what’s happening with the current opposition we’re seeing to “blue hydrogen,” which should be a stark warning to game-changing industry leaders.
I repeatedly find myself in conversations where I start somewhere “in the middle” on what oil and gas companies need to do to thrive in a time of continuous disruption: engage millennials, share aspirations, take the leadership mantle. And company leaders want to do with me what they are doing with the skeptical public: explain the need for energy and why the world needs them.
Several people sent me Pioneer’s 2020 Sustainability Report the day it came out — a strong indication of what it means for our industry. Pioneer has quietly, systematically, and relentlessly established itself as a leader in sustainability over the last decade (and without generating much fuss). Their low-key yet impressive style comes to life in this report, which should serve as a roadmap for your company.